How Much Is Property Transfer Tax in BC? Rates and Worked Examples

Property transfer tax (PTT) is usually the largest closing cost on a BC purchase after the down payment — and it catches buyers off guard because it is not part of the mortgage. This is how much it is, who pays it, and how the brackets actually work, with worked examples. For an instant figure on your purchase price, use our BC property transfer tax calculator; for the full picture including exemptions and the legal process, see our property transfer tax in BC overview.

The PTT rates in BC

Property transfer tax is charged on the fair market value of the property, in brackets — the same way income tax works, where each rate applies only to the slice of value in its band:

Portion of fair market value	PTT rate
First $200,000	1%
$200,000 – $2,000,000	2%
Above $2,000,000	3%
Additional, residential value above $3,000,000	+2%

That last row is a surtax: residential property worth more than $3 million pays an extra 2% on the value above $3 million, on top of the 3% bracket.

How much is property transfer tax? Worked examples

Purchase price	Property transfer tax
$500,000	$8,000
$1,000,000	$18,000
$1,500,000	$28,000
$2,000,000	$38,000
$3,200,000	$78,000

Take the $3.2 million example in full, bracket by bracket:

• 1% of the first $200,000 = $2,000
• 2% of the next $1,800,000 (from $200,000 to $2,000,000) = $36,000
• 3% of the next $1,200,000 (from $2,000,000 to $3,200,000) = $36,000
• additional 2% on the $200,000 above $3,000,000 = $4,000

Total: $78,000. The figures above are before any exemption — a first-time buyer or newly built home exemption can reduce or eliminate the tax.

Who pays property transfer tax, and when?

The buyer pays property transfer tax. It is due at registration: your real estate lawyer files the PTT return and pays the Land Title Office at the time the transfer is registered. If the return and payment are not filed, the Land Title Office can decline to register the transfer — so PTT is built into every purchase closing.

PTT is a one-time tax on the transfer. It is not the same as annual municipal property tax, which is a separate, recurring bill based on your assessed value.

Can you reduce or avoid it? Exemptions

You may not have to pay the full amount. The main exemptions:

• First-time home buyers — a full exemption on qualifying homes up to a value threshold, with a partial exemption in a band above it.
• Newly built homes — a full or partial exemption on qualifying new construction.
• Family farms and transfers to registered charities, plus narrow related-individual exemptions on certain transfers between family members.

The eligibility rules are specific, and they change. We work through them in detail in property transfer tax exemptions in BC, and the official criteria are on the Government of BC website.

Don’t forget GST on new builds

PTT is the BC tax. New-construction purchases also attract 5% federal GST, which has its own rebates — including the First-Time Home Buyer GST Rebate (up to $50,000 on contracts signed on or after March 20, 2025). To estimate net GST on a price, use our GST calculator, and read our explainer on the FTHB GST rebate for the eligibility tests and worked examples.

If you are buying in BC and want the PTT and GST confirmed on your specific price before you commit, talk to a Vancouver real estate lawyer — we set out every closing cost up front.