BC Property Transfer Tax Explained (2026 Rates, Exemptions, Examples)
BC property transfer tax is $13,000 on a $750,000 home, or $5,000 for a first-time buyer. 2026 rates, the $835,000 threshold, the new-build exemption.
British Columbia's property transfer tax (PTT) is 1% on the first $200,000 of the price, 2% from $200,000 to $2 million, 3% from $2 million to $3 million, and 5% above $3 million for residential property. A $750,000 home pays $13,000. First-time buyers pay nothing on the first $500,000 if the home costs $835,000 or less, which cuts that $750,000 bill to $5,000; the exemption disappears entirely by $860,000.
All figures come from the CostToClose land transfer tax calculator, using the Government of BC schedule in force for 2026.
The 2026 rates
| Portion of fair market value | Rate |
|---|---|
| First $200,000 | 1% |
| $200,000 to $2,000,000 | 2% |
| $2,000,000 to $3,000,000 | 3% |
| Above $3,000,000 (residential) | 5% (3% plus a further 2%) |
Source: Government of British Columbia, Property Transfer Tax. Checked 14 September 2026.
Many guides stop at 3%. The extra 2% on residential value above $3 million has applied since 2018, so a $3.5 million Vancouver house pays $93,000, not $73,000.
What the tax is at common prices
| Price | Repeat buyer | First-time buyer | Newly built (any buyer) |
|---|---|---|---|
| $500,000 | $8,000 | $0 | $0 |
| $750,000 | $13,000 | $5,000 | $0 |
| $835,000 | $14,700 | $6,700 | $0 |
| $850,000 | $15,000 | $11,800 | $0 |
| $900,000 | $16,000 | $16,000 | $0 |
| $1,200,000 | $22,000 | $22,000 | $22,000 |
| $2,500,000 | $53,000 | $53,000 | $53,000 |
Computed with the CostToClose calculator, 14 September 2026. The newly built exemption requires the home to be a principal residence and phases out between $1.1 and $1.15 million.
The first-time home buyers' exemption
Since 1 April 2024 the rules are:
- Price up to $500,000: no tax at all.
- Price from $500,000 to $835,000: no tax on the first $500,000; normal rates on the rest. Maximum benefit $8,000.
- Price from $835,000 to $860,000: the $8,000 benefit shrinks to zero on a straight line.
- Price above $860,000: no exemption.
That phase-out is sharp. At $835,000 a first-time buyer pays $6,700; at $850,000, $11,800; at $860,000, the full $16,000.
To qualify you must be a Canadian citizen or permanent resident, have lived in BC for at least a year or filed two BC tax returns in the last six years, have never owned a principal residence anywhere in the world, and move in within 92 days and stay for the first year. The exemption is claimed on the return your lawyer or notary files at closing.
The newly built home exemption
Any buyer, first-time or not, pays no PTT on a newly built home worth up to $1.1 million if they will live in it as a principal residence, with a phase-out to $1.15 million. "Newly built" means never previously occupied, including a new condo bought from the developer. Above $1.15 million the full tax applies.
You cannot combine the two exemptions; a first-time buyer of a $700,000 new condo simply uses the newly built exemption and pays nothing.
The additional property transfer tax for foreign buyers
Foreign nationals, foreign corporations and taxable trustees pay an extra 20% on residential property in Metro Vancouver, the Capital Regional District, the Fraser Valley, the Central Okanagan and Nanaimo. Most such purchases are currently prevented by the federal foreign-buyer ban, which runs to 1 January 2027, so in practice the 20% touches a small set of exempt buyers.
Worked example from the calculator
A first-time buyer, $780,000 townhouse in Surrey, 10% down:
| Item | Amount |
|---|---|
| PTT at standard rates | $13,600 |
| First-time buyers' exemption (tax on the first $500,000) | −$8,000 |
| PTT due on closing | $5,600 |
| CMHC premium (3.10% of $702,000) | $21,762, added to the mortgage |
| PST on the premium | $0 — BC does not tax it |
A repeat buyer would pay the full $13,600. Reproduce this.
What changes the number
- Being under $835,000 as a first-time buyer. Every dollar over that threshold costs 32 cents of exemption until it is gone at $860,000. If you are negotiating around $840,000, this matters more than the price itself.
- Buying new. The exemption ceiling is higher and open to everyone.
- Crossing $3 million. The residential rate jumps from 3% to 5%.
- Speculation and vacancy tax is a separate annual tax in designated regions and is not part of PTT; see BC's speculation and vacancy tax explained.
Frequently asked questions
How much is property transfer tax in BC on a $1 million home?
$18,000 for any buyer: 1% on the first $200,000 and 2% on the remaining $800,000. There is no first-time buyer relief above $860,000; the newly built exemption still applies at $1 million.
Is the BC PTT first-time buyer exemption available on a $900,000 home?
No. The exemption phases out between $835,000 and $860,000 and does not apply above that.
Do I pay PTT when adding my spouse to title?
Transfers between spouses of a principal residence are generally exempt. Other family transfers usually are not; check with your notary.
Is PTT charged on GST for a new home?
No. PTT is calculated on the fair market value before GST.
Can PTT be added to my mortgage?
No. It is paid in cash through your lawyer or notary on closing day.
Sources
- Government of British Columbia, Property Transfer Tax — rates — checked 14 Sept 2026
- Government of British Columbia, First Time Home Buyers' Program — checked 14 Sept 2026
- Government of British Columbia, Newly Built Home Exemption — checked 14 Sept 2026
- Government of British Columbia, Additional Property Transfer Tax for foreign entities — checked 14 Sept 2026
- CMHC, Prohibition on the Purchase of Residential Property by Non-Canadians Act — checked 14 Sept 2026
This is general information for Canadian home buyers and sellers, checked against the sources listed above on the date shown. It does not constitute legal, tax, or mortgage advice. Because rules and rates change, confirm current figures with your lawyer or notary, your lender, or the government office that administers the tax before you rely on them.