Free tool
BC Property Transfer Tax Calculator
The tax due on closing that catches the most buyers off guard, because it's separate from your down payment and doesn't show up on a mortgage pre-approval. Estimate yours below.
BC Property Transfer Tax Calculator
Estimate the tax due on closing, the one closing cost buyers most often forget to budget for.
Estimated Tax Due
$22,000
An estimate based on the general tiered rate (1% / 2% / 3%, plus 2% above $3M) and the First-Time Home Buyers' Program thresholds set April 2024. Newly-built-home exemptions, foreign-buyer surtax, and other exemptions aren't included, your notary or lawyer confirms the exact figure at completion.
Common questions
Frequently Asked Questions
What is the property transfer tax in BC?
A one-time provincial tax paid when title to a property registers in your name, calculated on a tiered rate: 1% on the first $200,000 of the fair market value, 2% on the portion between $200,000 and $2,000,000, 3% on the portion between $2,000,000 and $3,000,000, and an additional 2% (5% total) on any portion above $3,000,000. It's separate from, and in addition to, the land title registration fee and any GST owed on a new-build purchase.
Do first-time buyers pay property transfer tax in BC?
Not on most typical North Shore starter purchases. The First-Time Home Buyers' Program exempts the tax entirely (up to $8,000) on a home with a fair market value of $835,000 or less, phasing out to zero by $860,000. You must be a Canadian citizen or permanent resident who has never owned a principal residence anywhere in the world, and the property must become your principal residence.
Is property transfer tax based on the purchase price or the assessed value?
The fair market value at the date the transfer registers, which is normally the purchase price in an arm's-length sale, but can differ from BC Assessment's number (which is set annually and can lag the current market).
When is BC property transfer tax due?
At completion, when your notary or lawyer registers the transfer at the Land Title Office, it's included in the funds you provide on closing, not billed separately afterward.
Working with a mortgage broker or financial advisor? Feel free to share this tool directly, reach out if a client needs a North Shore-specific answer alongside it.
