The time is coming to pay our property taxes and I want to help make the process as simple as possible for you. Below I have put together various ways to pay your taxes and register for your Home Owners Grant (HOG). If you haven't already received your 2017 notice, you should get it within the next week.


Claiming Your Home Owner's Grant

If your property is your principle residence you have to claim your Home Owners Grant (which is $570 on average, some cities it is less). There are 2 ways for you to claim:

1. Signing the tax notice and mailing or dropping it off at the city.

2. You can also complete it online if your city has an electronic payment capability on their website. If you are doing this online you will need the folio number and access code which is on your notice. It takes no more than 5 minutes to complete. Don't forget to print off a copy for your records.

Paying Your Property Taxes

There are 4 ways this can be done:

1. Some lenders allow you to pay your property taxes throughout the year with your mortgage payment. If that is the case, the lender will remit the payment directly on your behalf. Be aware your taxes can change from year-to-year so it is a good idea to call your current lender to ensure you have enough in your account. If you do not have the lender number we placed you with, simply give us a call and we can help.

2. If your lender does not collect your taxes, you can write a post-dated cheque for July 4th, and mail it to the city.

3. You can also make your payment at most chartered banks.

4. A great way to pay your taxes is to use your cities monthly pre-authorized debit program. If you do not, it is a convenient option to consider going forward. Instructions will be on your cities website or attached to your tax notice.

As a helpful tool, I have also provided some links for more information and electronic payment details. Please feel free to pass this email along to friends, family members and colleagues.

Delta
Langley (Township) * please note that the Langley (Township) online Home Owners Grant will be available from May 26, 2017
Langley (City)
Vancouver
Surrey
Chilliwack
Abbotsford
Burnaby * please note that the Burnaby online Home Owners Grant will be available May 31, 2017
Coquitlam
Port Coquitlam
Maple Ridge
Mission
North Vancouver
New Westminster
Richmond
White Rock
Hope
West Vancouver
Port Moody
Pitt Meadows

About 91% of homes will be under the new threshold for the basic grant

The government of B.C. has increased its homeowner grant threshold from $1.2 million to $1.6 million - a 33 per cent increase. The province says the increase will ensure that most homeowners who received the grant in 2016 will qualify for it again in 2017. The government expects to spend $821 million on homeowner grants in 2017-18, compared to $809 million in 2016-17, according to a release from the province. 91 per cent of B.C. homes will remain below the new threshold despite recent steep increases in values from B.C. Assessment. The province says 83 per cent of Metro Vancouver homes are below the new threshold. 

The homeowner grant reduces property taxes on the owner's principal residence. The basic grant is worth up to $570, or up to $770 if the home is in a northern or rural area. Additional grants are available for seniors, people with disabilities, spouses of veterans and those who qualify as low income.

It's June, and you should have received your property tax notices in the mail, with property taxes due at the beginning of July. If you have your taxes collected by the mortgage company, you still need to apply for any eligible homeowners grant on your property tax notice. Complete the grant and return the tax form to your municipal office or city hall - they know your taxes are being paid by the mortgage company, but they still need your grant information to compute your NET taxes owing. The mortgage company can then pay the tax funds collected over the year on your behalf and all should be well!

If you pay your taxes on your own of course, you can just apply for the grant and remit your payment directly to your tax office.

If you would like to change the amount of taxes being collected with your mortgage payment, talk to your Mortgage Provider's Servicing Centre.