Buying a home in Greater Vancouver? Property Transfer Tax is one of the largest costs you pay on closing, and most buyers are caught off guard by the number. Use this free BC Property Transfer Tax calculator to estimate your tax in seconds, and see whether the first time home buyer or newly built home exemption can shrink your bill.
BC Property Transfer Tax Calculator
Estimate the Property Transfer Tax payable on closing in British Columbia, including first time buyer and newly built home exemptions.
This calculator is for general estimation only and does not constitute tax, legal, or financial advice. Exemption eligibility carries conditions set by the Province of British Columbia. Confirm figures with your conveyancing lawyer or notary. Source: Province of BC, Property Transfer Tax.
How much is Property Transfer Tax in BC?
BC Property Transfer Tax is calculated on the fair market value of the home on the day it closes: 1% on the first $200,000, 2% on the portion between $200,000 and $2,000,000, and 3% on the portion above $2,000,000. Residential properties over $3,000,000 pay a further 2% on the portion above $3 million.
PTT examples at common Vancouver price points
| Purchase price | Property Transfer Tax | With first-time buyer exemption |
|---|---|---|
| $600,000 | $10,000 | $0 |
| $800,000 | $14,000 | $0 |
| $1,000,000 | $18,000 | Not eligible |
| $1,500,000 | $28,000 | Not eligible |
| $2,500,000 | $53,000 | Not eligible |
Who is exempt from Property Transfer Tax in BC?
First-time buyers pay no PTT on homes up to $835,000, with a partial exemption up to $860,000. You must be a Canadian citizen or permanent resident, have lived in BC for 12 months (or filed 2 BC tax returns in the last 6 years), and never have owned a principal residence anywhere in the world.
Newly built homes are fully exempt up to $1,100,000, with a partial exemption to $1,150,000, when the home will be your principal residence.
Foreign nationals and taxable trustees pay an additional 20% tax on residential purchases in specified BC areas, including Metro Vancouver.
Use the calculator above for your exact number, and confirm eligibility with your conveyancing lawyer or notary. Rules and thresholds are set by the Province of BC.