Property Transfer Tax Calculator
Disclaimer: This property transfer tax calculator is intended for general informational use only and provides an estimate based on publicly available formulas. It does not take into account all possible exemptions or special circumstances. The results may not reflect the actual tax amount you will be required to pay. For official calculations and eligibility for exemptions, please consult a licensed real estate professional, lawyer, or visit the official Government of British Columbia website.
Property Transfer Tax in British Columbia
When you buy real estate in British Columbia, you’re required to pay a one-time Property Transfer Tax (PTT) when the title of the property is legally transferred to your name. This tax is separate from annual property taxes and is usually paid at the time of closing through your lawyer or notary.How the Tax Is Calculated
The Property Transfer Tax is based on the fair market value of the property (usually the purchase price):- 1% on the first $200,000
- 2% on the portion between $200,000 and $2,000,000
- 3% on the portion over $2,000,000
- Plus an additional 2% on the portion above $3,000,000 (if residential)
Example
For a home purchased at $750,000:- 1% of $200,000 = $2,000
- 2% of $550,000 = $11,000
- Total Property Transfer Tax = $13,000
First Time Home Buyer Exemption
If you’re buying your first home, you may qualify for a full or partial exemption from the Property Transfer Tax under BC’s First Time Home Buyer Program. To qualify for a full exemption:- You must be a Canadian citizen or permanent resident
- You have never owned a principal residence anywhere in the world
- You’ve lived in BC for at least 12 consecutive months immediately before the purchase, or filed 2 BC tax returns in the last 6 years
- The home is worth $500,000 or less
- The home will be your primary residence
How and When It’s Paid
The Property Transfer Tax is paid at the time of registration when your lawyer or notary registers the property at the Land Title Office. If you qualify for an exemption, they will submit the necessary documents on your behalf.Other Exemptions
In addition to the First Time Home Buyer Program, other exemptions may apply under specific circumstances, such as:- The Newly Built Home Exemption (for homes under $750,000)
- Transfers between related individuals in cases like inheritance or separation