BC Property Transfer Tax Calculator
British Columbia property transfer tax on a home, with the first-time home buyers’ exemption and the newly built home exemption.
Result
Property transfer tax to pay: CA$4,000.00Estimate
First-time buyers must have lived in Canada for a year or filed two returns, and live in the home. Foreign buyers in some areas owe additional tax.
- Tax before any exemption
- CA$12,000.00Estimate
- Exemption
- CA$8,000.00Estimate
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Results are arithmetic from the figures you enter, not legal, tax, lending or settlement advice. Fees vary by state, lender and negotiation, and the site quotes none of them. Check your Loan Estimate, Closing Disclosure or settlement statement for the real numbers. Read the full disclaimer
How to use the BC Property Transfer Tax Calculator
- Enter the fair market value of the home on the date it is registered, usually the price.
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- Read the tax, the exemption and what you pay.
The calculation
Property transfer tax is a slice tax on the fair market value.
1% × first $200,000 + 2% × to $2,000,000 + 3% × above+ 2% × residential value above $3,000,000first-time buyer: tax on the first $500,000 exempt (up to $8,000), full to $835,000, tapering to nothing at $860,000new home: exempt to $1,100,000, tapering to nothing at $1,150,000Foreign buyers of residential property in some regions of BC also pay an additional property transfer tax, which this page leaves out.
With your numbers
- 1% on the first $200,000, 2% up to $2 million, 3% above, and 2% more on residential value over $3 million
Quick reference
First-time buyers must have lived in Canada for a year or filed two returns, and live in the home. Foreign buyers in some areas owe additional tax.
| Example | Property transfer tax to pay |
|---|---|
| $700,000 first-time buyer | CA$4,000.00 |
| $500,000, no exemption | CA$8,000.00 |
| $850,000 first-time buyer | CA$11,800.00 |
| $1,000,000, no exemption | CA$18,000.00 |
| $1,101,000 new home | CA$400.40 |
| $3,500,000, no exemption | CA$93,000.00 |
Where the numbers come from
The fixed figures this calculator relies on, and the published source each one was checked against. How the calculators are built and checked
2 sources
Government of BC, Property transfer tax, https://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax
Used for
- BC PTT: 2% applies above this.
- BC PTT: 3% applies above this.
- BC PTT: a further 2% on residential value above this.
- BC PTT rate on the first $200,000.
- BC PTT rate from $200,000 to $2,000,000; also the further rate on residential value above $3,000,000.
- BC PTT rate above $2,000,000.
- BC first-time buyer exemption, maximum.
- BC first-time buyer: full exemption at fair market value up to this.
- BC first-time buyer: no exemption from this fair market value.
- BC newly built home: full exemption at fair market value up to this.
- BC newly built home: no exemption from this fair market value.
Government of BC, Property transfer tax, https://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax: "exempt from property transfer tax on the first $500,000"
Used for
- BC first-time buyer exemption applies to the first part of the value up to this.
Common questions about the BC Property Transfer Tax Calculator
- How is BC property transfer tax calculated?
- 1% on the first $200,000, 2% from $200,000 to $2 million, 3% above $2 million, and a further 2% on the part of a residential property above $3 million. A $500,000 home pays $8,000.
- How does the first-time home buyers' exemption work?
- It removes the tax on the first $500,000 of value, worth up to $8,000, for homes up to $835,000. Between $835,000 and $860,000 the exemption shrinks to nothing. A first-time buyer of a $700,000 home pays $4,000 instead of $12,000.
- What is the newly built home exemption?
- Newly built homes are fully exempt up to $1,100,000 of fair market value, with a partial exemption up to $1,150,000. You must live in it as your main home.
- Who counts as a first-time buyer in BC?
- A Canadian citizen or permanent resident who has lived in BC for a year or filed two income tax returns as a BC resident, has never owned a main residence anywhere, and will live in the home.