How much property transfer tax will you pay in BC?

How your tax adds up

The tax is charged in bands, like income tax. This table updates with your price.

How we calculate it

• General tax: 1% of the first $200,000, 2% from $200,000 to $2,000,000 and 3% above $2,000,000.
• Homes over $3,000,000: a further 2% on the residential value above $3,000,000.
• First-time buyers: no tax on homes of $500,000 or less. From $500,000 to $835,000 the tax is reduced by $8,000. The reduction shrinks between $835,000 and $860,000 and ends at $860,000.
• Newly built homes: no tax on homes of $1,100,000 or less that will be your principal residence. The exemption shrinks between $1,100,000 and $1,150,000 and ends at $1,150,000.
• If you qualify for both: you can claim only one exemption on a purchase. We apply whichever saves you more.
• Price used: the tax is based on fair market value on the day the home is registered. We use the price you enter.

Source: Government of British Columbia, property transfer tax, first time home buyers' exemption amounts and newly built home exemption. These rules apply to homes registered on or after April 1, 2024.

Who qualifies for an exemption

• First-time buyers: among other conditions, you must be a Canadian citizen or permanent resident, have never owned a principal residence anywhere, and have never received this exemption before. The government lists every condition on its site.
• Newly built homes: you must be a Canadian citizen or permanent resident, the home must not have been lived in before, and you must move in within 92 days and live there for the rest of the first year. You do not need to be a first-time buyer.
• Buying with someone else: if only some buyers qualify as first-time buyers, the exemption is reduced to their share. This calculator assumes every buyer qualifies.

What this estimate does not include

• Additional tax for foreign buyers: foreign nationals, foreign corporations and taxable trustees pay an additional property transfer tax in specified areas of BC.
• Large or mixed-use properties: the exemptions work differently for properties over 0.5 hectares or with non-residential buildings.
• GST on new homes and other closing costs: legal fees, title insurance, GST on a newly built home and moving costs are separate.
• Your mortgage payment: see the mortgage payment calculator and the mortgage affordability calculator.

Keep planning your home