When you buy a house, condo or land in BC you are subject to land transfer tax which is due upon closing.
The Property Transfer Tax is calculated using the following tiered structure based on property value.
Low Rate Bracket
Most affordable rate for properties under $200,000
Standard Rate
Standard rate for most residential properties
Luxury Rate
Higher rate for luxury properties over $2 million
Qualified buyers may be eligible for significant tax savings through these exemption programs.
No PTT on homes $500,000 or less
Must live in property for first year
Full PTT applies over $500,000
If one or more purchasers don't qualify, only the qualifying buyer's percentage of interest is eligible for the exemption.
Check Qualification RequirementsNo PTT on homes $750,000 or less
Includes new construction & condos
Full PTT applies over $800,000
Our team can help you navigate property transfer taxes and find the right home that fits your budget and qualifications.