It’s June which means City of Kamloops tax notices are out and property tax payments are due before July 2/2019. For some of you and many of my clients – this may be your first year paying property tax.
If you have not had a chance to look at your tax notice, I recommend first ensuring that the details on the tax notice match your property address. Review the tax notice and carefully check the details – is the taxed value the same as the assessed value you receive from BC Assessment in the spring? The next step is determining if you are eligible to claim the home owner grant (HOG) which reduces the amount of property taxes you pay each year on your principal residence. To view a sample tax notice, please click here.
In order to qualify for any of the grants you must be:
- A registered owner of the residence
- Be a Canadian citizen or permanent resident of Canada
- Live in BC
- Occupy the residence as your principal residence
- The assessed value of your home must not exceed the grant threshold
- Ensure you meet the additional requirements if you are buying or selling your property.
The basic home owners grant for the City of Kamloops is $770.00. If your property is assessed at $1,650,000 or less and you meet certain requirements, you will receive the full grant amount; properties assessed over that amount may receive a partial grant. There is a minimum property tax payment of $350.000 which is used to fund services like road maintenance & police services.
The additional home owner grant for seniors over the age of 65 in Kamloops is $1,045.00, similar to the basic grant if your property is assessed over $1,650,000 you would be eligible for a partial grant. Seniors must be a minimum of $100 to fund basic services in the Province.
A person living with disabilities or a property owner living with a person with who has disabilities may qualify for $1,045.00 in the City of Kamloops. The same minimum of $100 applies the same as the seniors grant.
The additional grant for veterans is more complicated, and property owners must meet several more requirements than the basic, seniors or PWD grant. For more information about the additional grant for veterans, please visit the Provincial Website for more details.
You may claim your City of Kamloops Home Owner Grant online here!
Don’t forget about your taxes and make sure to claim your Home Owner Grant before July 2nd!