Glossary · Taxes and government
Property transfer tax
BC's property transfer tax is a one-time tax paid by the buyer at completion: 1% of the first $200,000, 2% up to $2 million, 3% up to $3 million, and 5% on residential value above $3 million.
It's calculated on fair market value, normally the purchase price, and paid through your notary or lawyer when the transfer registers. On a $1.5 million home it's $28,000.
First-time buyers and buyers of newly built homes may qualify for full or partial exemptions.
Property transfer tax calculator →
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General information, not legal or tax advice. Rules change; confirm the current figures with the province or your notary or lawyer before relying on them.
