Housing Grants for Seniors in BC

 The following was from COSCO BC

The latest report from the BC Seniors Advocate ‘Monitoring Seniors Services 2020’ states 94% of seniors live independently in private dwellings and 6% live in assisted living or long-term care. 81% of households maintained by seniors are owned, and an estimated 73% of these have no mortgage.

The Home Ownership grants are available to residents of BC to reduce property taxes on their principal residence.  An additional grant may be claimed for homeowners 65 years or older, persons with disabilities, veterans, or a spouse or relative of a deceased owner. For homes valued above $1.525 million, the additional homeowner grant is reduced incrementally as the assessed home value rises until the grant is $0 for homes valued over $1.694 million in most of BC and $1.734 million in northern and rural areas. Homeowners must still pay at least $100 in property tax annually to contribute to essential services. In 2019, there were 423,193 Seniors Homeowner Grants claimed.

Seniors with an annual income of $32,000 or less may qualify for the Low Income Grant Supplement for Seniors, in addition to the Home Owner Grant. Most seniors who qualify for this grant get $845 from the province, but this amount depends on the income level and the assessed value of the home. Applications must be made annually.

Property Tax Deferment allows eligible BC homeowners 55 and older, surviving spouses and persons with disabilities to defer paying their property taxes for a low simple interest charge that accrues until the account is paid in full. In 2019-20 there were 69,757 households  deferring their taxes, with an interest rate of 1.95%.

Senior renters in BC include 19% of senior households, but vary widely from Vancouver 23%, to Parksville 11%, Kamloops 14%, and Victoria 22%. The vacancy rate for one-bedroom apartments in BC in 2019 was 1.3% but would vary depending on the region of the province.

Shelter Aid for Elderly Renters (SAFER) provides a subsidy directly to BC renters aged 60 or older who have a low to moderate-income and pay more than 30% of the gross monthly income towards rent. As the average rent of a one-bedroom has increased but the rent ceiling used to calculate SAFER subsidies has not kept pace, causing the maximum rents used to calculate SAFER subsidies to remain behind current rents. In March 2020 there were 24,974 recipients of SAFER, with an average payment of $207.

Seniors’ Subsidized Housing is long-term housing funded by BC Housing, available to low-income BC residents aged 55 or older, or those who have a disability. Rents are based on income, tenants pay 30% of gross income. Applications are through the Housing Registry maintained by BC Housing, or directly with organizations maintaining their own databases. In BC there are approximately 31,000 units in 2020. The application list has an average wait time of 2.6 years, and a median wait time of 1.7 years.

Home Adaptations for Independence (HAFI) is available to BC residents of all ages, helping low-income homeowners and renters with a disability or diminished ability to pay for home adaptations that will allow them to continue to live independently in their home. There are specific eligibility requirements. Applications can be submitted in more than one year with a Lifetime maximum grant of $17,500.