WINTER SPORTS
SLOW FREEZE
No shortage of snow on valley bottom this year See page 8
Precarious and late start to ice fishing season at Yellow Lake See page 8
NEW PRINCIPAL AT SESS Cate Turner joins staff at SESS See page 5
Review E H
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www.keremeosreview.com PM Agreement #40012521
Vol.15 Number 2
Thursday, January 10, 2013
Serving the communities of Keremeos, Cawston, Okanagan Falls and Kaleden
$1.15 including HST
Assessment values decline in most areas, but home owner grant threshold to rise Miinistry of Finance
Photo by Steve Arstad
A vineyard in the South Okanagan awaits colder temperatures prior to picking the grapes for icewine. Although temperatures have been below zero Celsius over the past few weeks, it has not been cold enough yet for icewine production. According to long range forecasts, next week’s prediction of cooler temperatures might provide a window for many growers.
Winter strengthens its grip on the Similkameen Snow piling up on valley floors as week begins with back to back snowfalls By Steve Arstad news@keremeosreview.com Weather is on many people’s minds this week as the region was hit by snow once again this week. A winter that started out meek and mild has strengthened its
grip on the South Okanagan and Similkameen, as snow continues to accumulate on the two valley floors. Ski resort operators are reporting their highest accumulations in 20 years on the mountain tops, a n d t h e Vi l l ag e o f Ke re m e o s struggles to keep up with primary snow removal on the main street. W h i l e t e m p e r a t u r e s h av e dipped recently, they have not dropped to the point where ice wine grapes can be harvested. The
grapes are required to be picked frozen on the vine and processed while the air temperature is minus eight degrees Celsius or lower. No artificial refrigeration is allowed at any point in the process. The week of January 13 - 19 is expected to see an outbreak of cooler air over the region, according to an Accuweather long term forecast, perhaps creating the opportunity growers have been waiting for.
More than one million home owners in British Columbia may be eligible to receive the entire Home Owner Grant again this year as the province is increasing the threshold for the Home Owners Grant by $10,000 to $1.295 million to keep pace with rising property value assessments, Finance Minister Michael de Jong announced today. BC Assessment estimates the value of all homes based on their market value on July 1 each year. Government then adjusts the threshold of the Home Owner Grant to make sure at least 95.5 per cent of eligible homeowners receive the full amount. Those with homes valued above the threshold may still be eligible for a partial grant. The Home Owner Grant provides a maximum reduction in residential property taxes on principal residences of $570 in the Capital, Greater Vancouver and Fraser Valley regional districts. The Northern and Rural Area Homeowner Benefit, one of the measures that keeps the carbon tax revenue neutral, increases the Home Owner Grant by $200 for home owners living outside of those areas to provide additional property tax relief for northern and rural British Columbians. An additional grant of $275 is available to those who are aged 65 or over, permanently disabled or a veteran of certain wars. In Budget 2012, the B.C. government expanded the program to include low-income Canadian Forces veterans in the event they do not already qualify as seniors or persons with disabilities.
START THE NEW YEAR OFF RIGHT! Make a resolution that will have financial results in the years to come! NOW is the time to start or contribute to your TFSA and RRSP.
Matthew Tolley Financial Advisor
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As of January 1st, 2013, the TFSA annual contribution limit increased to $5500. A reminder that March 1st, 2013, is the last day to make a RRSP contribution for the 2012 tax year. Call or visit us today to make your TFSA/RRSP contributions!
Member Canadian Investor Protection Fund
www.edwardjones.com #3 9150 Main St., Osoyoos 250-495-7255 TF: 877-742-4007 matthew.tolley@edwardjones.com