For 2011 taxation year, the B.C Homeowner Grant threshold is increased to $1.15 million – that means that approximately 95% of all homeowners will be eligible for the full grant. If your home is assessed higher then you will be eligible for a partial grant. The grant allows up to a $570 reduction and an extra $275 for those over the age of 65.
So this will give properties with a value of up to 1.15 million a added value. For more information on this the BC government has a useful site just go to this link