Modernizing Property Tax Homeowner Grant Exemption Levels

Whereas the Provincial Homeowner Grant reduces the property tax paid on a principal residence and not secondary residences; And whereas the grant cutoff has increased by only 50,000 3.12 between 2017 and 2019; And whereas the average home in many urban centers has now surpassed the 1.65M cutoff resulting in an up to and immediate 570 tax increase as homes cross the 1.65M threshold; And whereas many average homeowners are now facing significant tax increases when assessments rise beyond the exemption limit; And whereas high average prices indicate that there are not significantly less expensive housing options available; And whereas the tax burden is making it ever more difficult for regular workers to afford the annual costs of homes with the unintended impact of making average homes affordable for only the very-rich; And whereas the Province already provides differentiated grant levels based on rural or urban, geographic locations, age and other factors: Therefore be it resolved that UBCM request that the BC Government review the Homeowner Grant exemption level to incorporate consideration of the average value of homes in a municipality or region rather than the current flat value cutoff.