Use this calculator to estimate the BC property transfer tax (PTT) on a home purchase, including the first time home buyers’ and newly built home exemptions. The rates and thresholds come from the Government of B.C. and apply to transfers registered on or after April 1, 2024.
Estimate only. It assumes a residential property of 0.5 hectares or less and does not include the additional property transfer tax for foreign nationals.
How BC property transfer tax works
You pay property transfer tax when you register a property in your name at the Land Title Office. It is based on the fair market value of the property, which is usually the purchase price. The tax is charged in steps:
- 1% on the first $200,000
- 2% on the portion from $200,000 to $2,000,000
- 3% on the portion above $2,000,000
- A further 2% on the residential portion above $3,000,000
For example, on a $900,000 home the tax before any exemption is $2,000 on the first $200,000 plus $14,000 on the next $700,000, for a total of $16,000.
First time home buyers’ exemption
If you qualify, you pay no tax on a home worth $500,000 or less. From $500,000 to $835,000, the exemption is $8,000. Above $835,000 it shrinks, and it ends at $860,000. To qualify, you must:
- Be a Canadian citizen or permanent resident
- Have lived in B.C. for the year before you buy, or have filed two B.C. tax returns in the last six years
- Never have owned a principal residence anywhere in the world, or received this exemption before
- Buy a home of 0.5 hectares or less and move in within 92 days
Newly built home exemption
If you buy a newly built home as your principal residence, you pay no tax when the value is $1,100,000 or less. Between $1,100,000 and $1,150,000 you get a partial exemption. You must be a Canadian citizen or permanent resident, move in within 92 days and live there for the rest of the first year.
Foreign buyers
Foreign nationals, foreign corporations and taxable trustees pay an additional property transfer tax on homes in specified areas of B.C., including Metro Vancouver and the Fraser Valley. This calculator does not include it. Check the Government of B.C. page below, and remember that the federal ban on foreign buyers of existing homes is also in place.
Questions about your purchase?
Property transfer tax is one of the biggest closing costs for Lower Mainland buyers. If you want help working out your total budget, call or text me at 604-785-5555 or send me a message.
Muzaffar Manghat, REALTOR®, Sutton Premier Realty
Sources
- Government of B.C., Property transfer tax
- Government of B.C., First time home buyers’ program
- Government of B.C., First time home buyers’ exemption amounts
- Government of B.C., Newly built home exemption
- Government of B.C., Newly built home exemption amounts
This calculator and article are general information, not financial, tax or legal advice. Figures are believed reliable but not guaranteed; confirm your tax with your lawyer or notary or the Property Taxation Branch before you buy. Rates checked November 2026. This is not intended to solicit buyers or sellers currently under contract with a brokerage.
