What will your BC Property Transfer Tax be?

Property Transfer Tax (PTT) is a one-time provincial tax you pay when a property changes hands in British Columbia. It's charged on the fair market value of the home on the day of registration, usually the purchase price, and it's due at completion, on top of your down payment and closing costs. It cannot be added to your mortgage, which is exactly why it catches so many buyers off guard: on a typical North Vancouver purchase it's a five-figure bill that has to be sitting in your account as cash.

The tax is graduated, so different slices of the price are taxed at different rates:

Worked example: on a $1,250,000 home, you pay 1% on the first $200,000 ($2,000) plus 2% on the remaining $1,050,000 ($21,000), a total of $23,000. On a $3.5M home the top slice gets hit twice, which is how luxury purchases end up with PTT bills north of $100,000.

Who qualifies for an exemption?

First Time Home Buyers' Program. If you're a Canadian citizen or permanent resident, have lived in BC (or filed BC taxes) long enough to qualify, and have never owned a principal residence anywhere in the world, you can claim a full or partial exemption. As of 2025, homes up to $835,000 qualify for an exemption on the tax attributable to the first $500,000 of value, meaning a home at $500,000 or less pays no PTT at all. Between $835,000 and $860,000 the exemption phases out proportionally, and above $860,000 there's no relief. You must move in within 92 days and live there for at least a year.

Newly Built Home Exemption. Buying brand-new construction, a presale condo, a new townhome, a house on newly subdivided land, as your principal residence? Homes up to $1,100,000 are fully exempt, with a partial exemption phasing out to $1,150,000. You don't need to be a first-time buyer, but you do need to be a citizen or permanent resident and actually live in the home.

Foreign buyers, take note. If you're a foreign national, foreign corporation, or taxable trustee buying residential property in specified BC areas, including Metro Vancouver, an additional property transfer tax of 20% applies on top of everything above. This calculator doesn't model it; if it might apply to you, get advice before you write an offer. Note as well that the separate federal ban on non-Canadian purchases of residential property remains in effect in many markets.

Disclaimer: these figures are estimates only, based on rates as of 2025, and don't cover every program condition (residency history, property size limits, partial-interest transfers, and more). Always confirm your actual tax and eligibility with your lawyer or notary before completion.