Richmond - The Editor, A lot of us have received the corrected 2014 property tax bills.It seems that the property taxes have increased dramatically for the seniors with the change in the grant threshold from $1,295,000 to $1,100,000.
Richmond - The Editor, A lot of us have received the corrected 2014 property tax bills.It seems that the property taxes have increased dramatically for the seniors with the change in the grant threshold from $1,295,000 to $1,100,000.As we understand, the threshold was increased to $1,295,000 with the increase in the property values two years ago to enable the senior home owners, who saw their home values increase suddenly, qualify for home owner grants and be able to pay their property taxes.The Real Estate Board claims that in Vancouver the property prices have not come down, but instead still saw a small increase.The BC Property Assessment values have come down, but by a very narrow margin of four to five per cent, while the threshold has been dropped by the provincial government by 15 per cent.Is there any rationale for the change or do the values depend on the whims of the provincial government?S. RamjiRichmond
