The basic homeowner's grant is $570, as long as the assessed value of your home is less than $950,000. If you are a senior or a veteran or if you are physically challenged, you may receive an additional $275. The grant is reduced by $5 for every additional $1000 your home is assessed above $950,000. If your home is worth over $1,060,000 there is no homeowner grant for you. Seniors lose the grant if their home is assessed higher than $1,120,000.