How much is property transfer tax in BC?

BC PTT is 1% on the first $200,000, 2% on $200,001-$2,000,000, and 3% above $2,000,000.

Do first-time buyers pay property transfer tax in BC?

First-time buyers are exempt from PTT on homes up to $500,000, with partial exemption up to $525,000.

BC Property Transfer Tax Calculator 2026 (Rates & Exemptions)

First-Time Buyers: Programs, down payment strategies, and the buying process in our First-Time Home Buyer Guide.

BC property transfer tax (PTT) is calculated at 1-3% of the purchase price. A $900,000 home costs $17,000 in PTT.

BC Property Transfer Tax Rates

Purchase Price Portion	Tax Rate
First $200,000	1%
$200,001 - $2,000,000	2%
Over $2,000,000	3%
Foreign buyers	Additional 20%

PTT by Home Price

Home Price	Property Transfer Tax
$400,000	$6,000
$500,000	$8,000
$600,000	$10,000
$750,000	$13,000
$900,000	$17,000
$1,000,000	$19,000
$1,500,000	$29,000
$2,000,000	$39,000
$2,500,000	$54,000

First-Time Home Buyers’ Exemption

Feature	Details
Full exemption	Homes up to $500,000
Partial exemption	$500,001 - $525,000
No exemption	Over $525,000
Max savings	$8,000

Most Vancouver-area homes exceed the exemption threshold.

Newly Built Home Exemption

Feature	Details
Full exemption	Homes up to $750,000
Partial exemption	$750,001 - $800,000
No exemption	Over $800,000
Max savings	$13,000

This applies to new construction regardless of buyer status.

Calculation Examples

Example 1: $600,000 Home (First-Time Buyer)

Component	Amount
PTT calculated	$10,000
First-time exemption	$0 (over $525K limit)
Total PTT owing	$10,000

Example 2: $500,000 Home (First-Time Buyer)

Component	Amount
PTT calculated	$8,000
First-time exemption	-$8,000
Total PTT owing	$0

Example 3: $750,000 New Build

Component	Amount
PTT calculated	$13,000
New home exemption	-$13,000
Total PTT owing	$0

First-Time Buyer Eligibility

Requirement	Details
Canadian citizen/PR	Required
BC resident	1 year before or within 92 days after
Never owned home	Anywhere worldwide
Live in home	Primary residence
Fair market value	Under $525,000

Foreign Buyer Additional Tax

Property Location	Additional Tax
Greater Vancouver	20%
Fraser Valley	20%
Capital Regional District	20%
Nanaimo	20%
Central Okanagan	20%

A foreign buyer purchasing a $1M home pays $19,000 PTT + $200,000 additional tax = $219,000.

PTT by Metro Vancouver Scenario

Scenario	Home Price	PTT	Net (with exemptions)
First-timer, condo	$500,000	$8,000	$0
First-timer, townhouse	$700,000	$12,000	$12,000
Move-up buyer	$1,200,000	$23,000	$23,000
New build	$750,000	$13,000	$0
Luxury home	$2,500,000	$54,000	$54,000

When Is PTT Due?

Timing	Details
Due date	At time of registration
Payment	Through notary/lawyer
Financing	Must be paid in cash
Refunds	Apply after if exemption missed

Reducing Your PTT

Strategy	Savings
Buy under $500K (first-time)	Up to $8,000
Buy new under $750K	Up to $13,000
Become PR before purchase	Avoid foreign buyer tax
Joint purchase with Canadian	Partial savings

BC PTT vs Ontario LTT

Home Price	BC PTT	Ontario LTT	Winner
$500,000	$8,000	$11,475	BC
$750,000	$13,000	$19,475	BC
$1,000,000	$19,000	$31,475	BC

BC rates are lower than Ontario, but home prices are higher.

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

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