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Province Increases Homeowner Grant Threshold

/ 97.3 The Eagle

The provincial government has boosted the threshold for its homeowner grants program by 33 per cent following a steep jump in property-tax assessments. Finance Minister Mike de Jong says the threshold has been raised to include properties worth up to 1.6 million dollars, up from the previous 1.2 million dollars. The change came after property assessments jumped by as much as 50 per cent for some single-family homes in the Lower Mainland and on Vancouver Island. De Jong says the measure is expected to cost an extra 12 million dollars a year but will ensure nine out of 10 homes across the province are eligible to receive a basic grant of 570 dollars.

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