The provincial government's budget bodes well for property owners! Some of the key measures include:
- The government will invest $123 million in rent supplement program over the next five years to support 5,800 additional households. Owners of income properties can therefore expect fewer payment defaults from this vulnerable clientele.
- $35 million investment to adapt and renovate the homes of low-income households. This measure will contribute to preserving the value of real estate.
- $3 million annually in new program that helps long-term homeowners pay their municipal taxes. This program targets people who are 65 years of age or older who have a net annual family income of less than $50,000 and who have owned the same residence for at least 15 years. This measure will come into effect beginning in January 2016 and applies only to primary residences.
More details on the budget can be found here.