3 Things You Should Know About Your BC Assessment
Posted on Jan 09, 2024 in Resources
The 2024 BC Property Assessment Notices are out! Regardless of whether the tax assessed value of your home has gone up, down, or stayed flat, DO NOT assume this is your home's MARKET VALUE! Here's why:
1) BC Assessment Values Are Collected From July 1, 2023
As indicated in the 2024 BC Assessments, the valuation of your property is based on data extra...
Reminder: Property Tax & Home Owners Grant for July 2023
Posted on Jun 21, 2023 in Resources
PROPERTY TAXES DUE: July 2023
July 4, 2023: Richmond, Coquitlam, Port Coquitlam, Langley, Maple Ridge, Chilliwack, New Westminster, Abbotsford, North Vancouver, West Vancouver, Squamish, Surrey
July 5, 2023: Vancouver, Burnaby
Once you pay property tax, you may apply to receive a $570 Home Owners Grant if you live in your home as a primary residence i...
Provincial Exemptions to Age-Restriction Bylaws 55+
Posted on Jun 12, 2023 in Resources
As of May 1, 2023, here are some changes to the exemptions:
1. Legacy Exemption:
an owner, tenant or occupant with a legacy exemption can have their spouse, partner, or children (including adult children) live with them at any time after the age-restriction bylaw is passed, even if they do not not meet the age criteria.2. Child Exemption:
BC allows ce...4 Changes to Canada's Foreign Buyer Ban
Posted on May 02, 2023 in Resources
Here are the 4 key amendments to Canada's Foreign Buyers Ban.
Enable more work permit holders to purchase a home to live in while working in Canada.
Those who hold a work permit or are authorized to work in Canada under the Immigration and Refugee Protection Regulations are now eligible to purchase residential property if they have 183 days or more o...
BC Speculation & Vacancy Tax March 2023
Posted on Mar 29, 2023 in Resources
If you are a homeowner in the Province of British Columbia, you have to declare your BC Speculation & Vacancy tax exemption by the March 31, 2023 deadline. All owners on title must each make a separate declaration.
Do this online via gov.bc.ca/spectax.
The tax expanded in January to more communities experiencing housing shortages, including North Cow...
The Answer to the Million Dollar Question
Posted on Feb 26, 2023 in Resources
The million dollar question is "how far will prices drop and when will they start to rise again?"
Now let's be real, if we all knew the answer to this question, none of us would ever have to work again! So let's take a look at some statistics and see what economists are predicting.
The MLS benchmark price fell 9% for condos from its peak in April 202...
