As properties increase in value, the amount of Home Owner Grant available changes.
How Is the Grant Amount Reduced on My Property?
Phasing out of the grant begins at $1,525,000. Homes valued above the threshold may still be eligible for a partial grant. For properties assessed above the threshold, the grant is reduced by $5 for every $1,000 of assessed value in excess of the threshold.
Property Assessed for "Land" Only
If there are no residential improvements on the property, there is no Home Owner Grant available.