Being a first time homeowner is difficult enough as it is – Having financial help from a grant can assist with lifting some of the financial burden that comes along with owning your own home.
One of the grants available for residents of British Columbia, is the Home Owner Grant
Those under the Home Owner Grant are eligible to lower the amount of property taxes that are required to be paid on an annual basis for your principal residence. The amount of tax relief depends on where you live. Those under 65 years-old in the Capital Regional District, Greater Vancouver Regional District, and the Fraser Valley Regional District are typically be eligible for a grant around $570. If you, or someone you know, resides in another part of the province, you/they may be eligible for a grant around $770. To qualify for the Home Owner Grant you must be under 65 years of age, a senior, a veteran, a person with a disability, residing with a spouse (or relative) with a disability, or the spouse (or relative) of a deceased home owner. You must also pay at least $350 annually in property taxes before claiming the grant.