How Is Property Transfer Tax Calculated When You Buy a Home in British Columbia?

This answer covers the law of British Columbia.

Property transfer tax in BC is worked out in slices of the home's fair market value: 1% on the portion up to $200,000, 2% on the portion above $200,000 up to $2,000,000, and 3% on the portion above $2,000,000. Each rate applies only to the slice of the price inside its band, so you add the slices together rather than applying one rate to the whole price. A further 2% applies to the residential value above $3,000,000, and for mixed-class property only the residential portion is counted.

The buyer, called the transferee, owes the tax and must file a return when applying to register the transfer at a land title office. In practice, your lawyer or notary usually files the return, and because the tax is a closing cost it is normally paid through them on completion. The registrar may refuse to register the transfer if there are reasonable grounds to believe the tax is unpaid or the return is incomplete or unfiled.

First-time buyer, newly built home and foreign buyer rules can change the amount, so check whether any apply. A lawyer or notary can confirm the figure for your purchase.