BC Property Transfer Tax Guide | Calculator & Exemptions

What Is the Property Transfer Tax?

The Property Transfer Tax (PTT) is a tax paid when you purchase or gain an interest in property in British Columbia. It's based on the fair market value of the property at the time of transfer and is paid by the buyer at closing.

Current PTT Rates (2026)

Fair Market Value	Tax Rate
First $200,000	1%
$200,001 to $2,000,000	2%
$2,000,001 to $3,000,000	3%
Over $3,000,000	5%

Example Calculations

1-BR Condo

$800,000

PTT: $14,000

Townhome

$1,200,000

PTT: $22,000

Detached Home

$1,600,000

PTT: $30,000

Luxury Home

$2,500,000

PTT: $53,000

First-Time Home Buyer Exemption

If you're a first-time home buyer, you may qualify for a full or partial exemption from the PTT:

Full exemption on properties up to $500,000 (partial exemption up to $525,000)
Must be a Canadian citizen or permanent resident
Must have lived in BC for at least 12 consecutive months before the transfer date, or filed 2 income tax returns in BC in the last 6 years
Must not have owned a principal residence anywhere in the world
Must use the property as your principal residence

Newly Built Home Exemption

If you're buying a newly built home (including pre-sales), you may qualify for a separate exemption:

Full exemption on newly built homes up to $750,000
Partial exemption for homes between $750,000 and $800,000
Must be your principal residence
Can be combined with the first-time buyer exemption

Foreign Buyer Tax

An additional 20% tax applies to foreign nationals, foreign corporations, and taxable trustees purchasing residential property in designated areas of BC, including Metro Vancouver. This is in addition to the regular PTT.

When Is PTT Due?

The Property Transfer Tax is due at the time the property transfer is registered at the Land Title Office, which is the completion date of your purchase. Your lawyer or notary will handle the payment as part of the closing process.

Aparna's Tip

“The PTT is one of the biggest closing costs buyers face in BC. I always make sure my clients understand these costs upfront so there are no surprises on completion day. If you qualify for exemptions, the savings can be significant.”