Provincial Budget Relating To Real Property

There are some items contained in the recent Provincial budget relating to real property;

- Updates to the Home Owner Grant so that 95% of all owners qualifying for the grant, with low income seniors being eligible regardless of their Property Tax Assessment.

- for first time home buyers the tax exemption thresholds have been increased to $375,000, province wide (was $265,000).

- Property Tax Deferment Program age limit was lowered from 60 to 55.

For more information see http://www.bcbudget.gov.bc.ca/2007/default.htm