Top 26 grants and rebates for property buyers and owners                    1                                             ...
Top 26 grants and rebates for property buyers and owners continued13                                      17              ...
Upcoming SlideShare
Loading in …5

Top 26 grants and rebates for homeowners


Published on

Top 26 grants and rebates for homeowners in Vancouver. A report from the Real Estate Board of Greater Vancouver.

Published in: Real Estate
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Top 26 grants and rebates for homeowners

  1. 1. Top 26 grants and rebates for property buyers and owners 1 10 Home eligible for a rebate of 71.43% of Valley regional districts; CMHC Mortgage Buyers’ the provincial portion of the HST, • an additional grant of $770 Loan Insurance Plan up to $26,250 per unit. to rural homeowners else- Premium Refund Qualifying where in the province; and Provides home buyers with home buyers can • an additional grant of $275 to CMHC mortgage insurance, a choice/faqs/new_housing_rebate withdraw up to seniors aged 65+, those who 10% premium refund and possible 1.800.959.8287 $25,000 (couples are permanently disabled and extended amortization without sur- can withdraw up war veterans of certain wars. charge when buyers purchase an 5 BC Property Transfer to $50,000) from energy efficient mortgage or make Tax (PTT) First Time BC Ministry of Small Business their RRSPs for energy saving renovations. Home Buyers’ Program and Revenue a down payment. Qualifying first-time buyers may hog or contact your municipal tax Home buyers who have repaid be exempt from paying the PTT of office. moloin_008.cfm#reno their RRSP may be eligible to use 1% on the first $200,000 and 2% 604.731.5733 the program a second time. 8 on the remainder of the purchase BC Property Tax 11 Canada Revenue Agency www. price of a home priced up to Deferment Programs Energy Saving Enter ‘Home Buyers’ $425,000. There is a proportional Mortgages Plan’ in the search box. exemption for homes priced up to Property Tax Deferment Pro- Financial 1.800.959.8287 $450,000. gram for Seniors. Qualifying institutions offer a range of home owners aged 55+ may be mortgages to home buyers and 2 BC Ministry of Small Business eligible to defer property taxes. GST Rebate on New owners who make their homes and Revenue Homes more energy efficient. For Financial Hardship Property New home buyers can example, home owners who have Property_Transfer_Tax/ptt.htm Tax Deferment Program. Quali- apply for a rebate of the federal a home energy audit within 90 250.387.0604 fying low-income home owners portion of the HST (the 5% GST) days of receiving an RBC Energy may be eligible to defer property if the purchase price is less than Saver™ Mortgage, may qualify 6 First-Time Home taxes. $350,000. The rebate is up to 36% for a rebate of $300 to their RBC Buyers’ Tax Credit of the GST to a maximum rebate Property Tax Deferment account. (HBTC) of $6,300. There is a proportional Program for Families with This federal non-refundable GST rebate for new homes costing Children. Qualifying low income income tax credit is for qualify- mortgages/energy-saver-mortgage. between $350,000 and $450,000. home owners who financially sup- ing buyers of detached, attached, html port children under age 18 may be Canada Revenue Agency www. apartment condominiums, mobile 1.800.769.2511 eligible to defer property taxes. Enter ‘RC4028’ in the homes or shares in a cooperative 12 search box. housing corporation. The calcula- BC Ministry of Small Business Low Interest 1.800.959.8287 tion: multiply the lowest personal and Revenue Renovation Loans income tax rate for the year (15% individuals/Property_Taxes/Prop- Financial institu- 3 BC New Housing Rebate in 2010) x $5,000. For the 2010 erty_Tax_Deferment/ptd.htm tions offer ‘green’ loans for home (HST) tax year, the maximum credit is owners making energy efficient 9 Buyers of new or $750. Canada Mortgage upgrades. Vancity’s Bright Ideas substantially renovated homes and Housing personal loan offers home owners Canada Revenue Agency www. priced up to $525,000 are eligible (CMHC) Residential up to $20,000 at prime + 1% for for a rebate of 71.43% of the Rehabilitation Assistance up to 10 years for ‘green’ renova- tx/rtrn/cmpltng/ddctns/lns360- provincial portion (7%) of the Program (RRAP) Grants. This tions. RBC’s Energy Saver loan 390/369/menu-eng.html 12% HST paid to a maximum federal program provides financial offers 1% off the interest rate for 1.800.959.8281 rebate of $26,250. Homes priced aid to qualifying low-income a fixed rate installment loan over at $525,000+ are eligible for a flat home owners to repair substandard $5,000 or a $100 renovation on a 7 BC Home Owner Grant rebate of $26,250. housing. Eligible repairs include home energy audit on a fixed rate Reduces property heating, structural, electrical, installment loan over $5,000. taxes for home owners plumbing and fire safety. Grants For information visit your finan- choice/faqs/new_housing_rebate with an assessed value of up to are available for seniors, persons cial institution. 1.800.959.8287 $1.285,000. The basic grant gives with disabilities, owners of rental home owners properties and owners creating 4 BC New Rental Housing • a maximum reduction of $570 BrightIdeas and www. secondary and garden suites. Rebate (HST) in property taxes on principal Landlords buying new or residences in the Capital, personalloans/energy-saver-loan. substantially renovated homes are Greater Vancouver and Fraser prfinas/prfinas_001.cfm html 1.800.668.2642 | 604.873.7408 Continued on page two1 Real Estate Board of Greater Vancouver • Updated January 10, 2012
  2. 2. Top 26 grants and rebates for property buyers and owners continued13 17 21 24 LiveSmart BC Hydro City of Vancouver Vancity Green BC: Efficiency Windows Rebate Solar Homes Pilot Building Grant Incentive Program Program This rebate of In partnership withHome owners improving the Pay no HST when you buy EN- $3,000 (about 50% of the cost) the Real Estate Foundation ofenergy efficiency of their homes ERGY STAR high-performance is for a Vancouver home owner BC, Vancity provides grants up tomay qualify for cash incentives windows and doors. upgrading to a solar hot water $50,000 each to qualifying chari-through this provincial program system from a gas system. Of- ties, not-for-profit organizations in partnership with For- fered by the City of Vancouver, and co-operatives for projects savings/windows_offers/current_tisBC, BC Hydro, and FortisBC. SolarBC, FortisBC and Offsetters which focus on building renova- offers.htmRebates are for energy efficient on a first come, first served basis tions/retrofits, regulatory changes 604.759.2759 for a free in-homeproducts which replace gas and oil until the City reaches its target of that advance green building devel- estimate.furnaces, pumps, water heaters, 30 homes. opment, and education to increasewood stoves, insulation, win- the use of practical green building 18 BC Hydro Mail-in, doors, skylights and more. strategies. Rebates/Savings 604.871.6288The LiveSmart BC program also Coupons $150 of the cost of a home 22 To save energy, BC Hydro offers City of Vancouver NotForProfit/Grants/energy assessment, directly to the rebates including 10% off an Rain Barrel ActingOnClimateChange/service provider. ENERGY STAR cordless phone. Subsidy Program Check for new offers and for The City of Vancouver provides 604.877.70001.866.430.8765 deadlines. a subsidy of 50% of the cost of a 25 rain barrel for Vancouver resi- Local Government14 BC Residential dents. With the subsidy, the rain Water savings/coupons.html Energy Credit barrel costs $75. Buy your rain Conservation 1.800.224.9376 Home owners and barrel at the Transfer Station at Incentivesresidential landlords buying heat- 377 W. North Kent Ave., Vancou- Your municipality may provide 19 FortisBC Rebateing fuel receive a BC government ver, BC. Limit of two per resident. grants and incentives to residents Programpoint-of-sale rebate on utility bills Bring proof of residency. to help save water. For example, A range of rebatesequal to the provincial component the City of Coquitlam offers resi- for home owners include a $50 the HST. dents a $100 rebate and the City of rebate for upgrading a hot water watersewers/water/conservation/ North Vancouver, District of tank, $150 rebate on an Ener- programs/rainbarrel.htm Vancouver, and District of Westconsumer_taxes/residential_ Choice fireplace and a $1,000 604.736.2250 Vancouver offer a $50 rebate whenenergy/residential_energy.htm rebate for switching to natural Other municipalities have similar residents install a low-flush toilet.1.877.388.4440 gas (from oil or propane) and offers. Visit your municipality’s website installing an ENERGY STAR and enter ‘toilet rebate’ to see if15 23 BC Hydro heating system. City of Vancouver there is a program. Appliance Rebates Greenest City 2020 26 Mail-in rebates for Pilot Home Energy Homes/Offers/Pages/default.aspx Local Governmentpurchasers of ENERGY STAR Loan Programnt 1.888.224.2710 Water Meterclothes washers, refrigerators, The City of Vancouver in coop- Programsdishwashers, or freezers. eration with Vancity, FortisBC, 20 FortisBC Efficient Your municipality may provide BC Hydro and Natural Boiler Program a program for voluntary water Canada offers access to loans forsavings/appliance_rebates.html For commercial metering, so that you pay only for energy retrofits including heating1.800.224.9376 buildings, provides a cash rebate the amount of water that you use. systems, insulation and air sealing. of up to 75% of the purchase price Delta, Richmond and Surrey have Loans are at 4.5% fixed rate over16 BC Hydro Fridge of an energy efficient boiler, for programs and other municipali- 10 years. The program also helps Buy-Back Program new construction or retrofits. ties may soon follow. Visit your with accessing grants from the This ongoing pro- municipality’s website and enter federal ecoENERGY program, thegram rebates BC Hydro custom- ‘water meter’ to find out if there is Business/Offers/Pages/default. provincial LiveSmart BC programers $30 to turn in spare fridges in a program. aspx and FortisBC.working condition. 1.888.477.0777 Email: 604.374.0507.604.881.4357 Real Estate Board of Greater Vancouver • Updated January 10, 2012 2