Qualification Requirements For the Basic Home Owner Grant & Additional Grant
To obtain the grants, you must complete and sign the appropriate application form each year. The homeowner grant application is written on your yearly tax notice and will be mailed to you at your principal residence address. If you qualify for the additional grant and wish to obtain it, you must tick the box that describes your qualification.
To avoid penalty, an owner should apply for a grant prior to the tax due date even if he/she is not paying taxes that are due at that time.
c) The home on which the grant is claimed must be your principal residence – where you live and conduct your daily activities. The grant does not apply to summer cottages, second homes or rental properties.
Spouses who live together, including those who are married or who live together in a marriage-like relationship, including same-gender partners, can qualify for a grant on only one residence in the province in a calendar year.
You may qualify for the additional grant if:
- You are over 65.
- You are a veteran or spouse of a veteran receiving certain war veterans’ allowances.
- You are permanently disabled or you have a disabled spouse or relative residing with you permanently.
- You receive a disability allowance under the Employment and Assistance for Persons with Disabilities Act.
Property taxes are paid for the whole year on the first working day of July of that year. Look at the "Adjustment Date" on your Contract of Purchase & Sale. If the date occurs after July, the Buyer, will have to credit back to the Seller a portion of the already paid taxes. This will be handled at the lawyers and will be shown on the "Statement of Adjustments" that is drawn up for you.
The adjustment date is November 28th and the property’s gross taxes are $2,022.
- $570 (Home Owner's Grant)
|$1,452 x 34 days (Nov. 28th to Dec. 31st) = $135.25
|The amount of $135.25 is the amount that will be credited
back to the Seller on Completion Day.
|Contract Adjustment Date:||,200|
|Gross Property Taxes||$|
|Less Applicable Grant(s)||$|
|Net Property Taxes||$|
|Net Property Taxes x Days
Divided by 365 days
|Buyer Credit $||Seller Credit $|
|January to early July||Early July to December|
Home Owner’s Grant and therefore, the figures in Example One and Two above will not be correct.