Mayor Jackson's Letter Re: Home Owner Grant Program
Dec 19, 2016
Please see Mayor Jackson's Letter to Minister Michael de Jong, requesting revisions to the home owner grant program.
December 19, 2016
The Honourable Michael de Jong
Minister of Finance
PO Box 9048 Stn Prov Govt
Victoria, BC V8W 9E2
Re: Home Owner Grant
Many of Delta’s residents will face a large additional cost this year, without a corresponding increase to their income, simply because the market has pushed the value of their home beyond the current home owner grant threshold. We are requesting a revision to the home owner grant program to ensure the grant remains available for the average home owner.
In Delta, house values have risen dramatically – a median increase of more than 46% over the past year for single-family dwellings according to BC Assessment. This rapid increase has pushed the benchmark home in Tsawwassen over the $1.2 million home owner grant threshold, with many homes also beyond the $1.314 million mark where all support from the home owner grant disappears. Many home owners in Ladner and North Delta are facing similar skyrocketing house values and will now be faced with the associated costs. The increase in house values on paper does home owners no good in practice because living costs are also rising dramatically, particularly for the many residents losing access to the home owner grant.
We urge you to take action that would allow our residents to continue living in their homes without facing undue financial hardships caused by market forces beyond their control. Thank you for your consideration of this important issue.
Lois E. Jackson