How Much Property Transfer Tax Will I Pay Buying a Home in BC?

Property transfer tax, usually shortened to PTT, is one of the largest closing costs when you buy a home in British Columbia. It is separate from your down payment and mortgage, and it catches many buyers by surprise.

This guide explains who pays it, how the rates work, and which exemptions may reduce it. Rules and thresholds change, so treat this as a starting point and check the Province's pages for any 2026 changes before you rely on a figure.

This article covers the law of British Columbia.

Who pays PTT and when

The buyer, called the transferee in the legislation, must pay the tax and file a return when applying to register a taxable transaction at a land title office. The registrar may refuse the application if there are reasonable grounds to believe the tax is unpaid or the return is incomplete or unfiled.

In practice you rarely deal with this yourself. The return is usually filed by your legal professional, a lawyer or notary, with the transfer at the Land Title Office. Because the tax is a closing cost, it is normally paid through the conveyancer on completion.

The general PTT rates

PTT is charged on the fair market value of the property, and each rate applies only to the slice of value within its band. The general rates are set out below.

A further 2% applies to the residential value above $3,000,000. For mixed-class property, only the residential portion is counted.

To estimate your own bill, apply each rate to the matching slice of the price and add the results. Your lawyer or notary can give you an exact figure before closing.

First-time home buyers' exemption

For properties registered on or after April 1, 2024, a full exemption applies if fair market value is $835,000 or less. A partial exemption applies if it is above $835,000 and below $860,000. The lot must be 0.5 hectares (1.24 acres) or smaller. Before April 1, 2024, the limits were $500,000 and $525,000.

To qualify, you must meet all of these conditions:

• Be a Canadian citizen or permanent resident.
• Have lived in BC for at least a year immediately before registration, or have filed at least 2 income tax returns as a BC resident in the last 6 taxation years.
• Never have owned a principal residence anywhere in the world, or received a first-time buyers' exemption or refund.
• Use the home as your principal residence.

If only some co-buyers qualify, only their ownership share is exempt. Your legal professional applies the exemption on the PTT return. If it was not claimed at registration, you can apply for a refund from the first anniversary to 18 months after registration, using Form FIN 265.

Newly built home exemption

For registrations on or after April 1, 2024, a full exemption applies if fair market value is $1,100,000 or less. It phases out between $1,100,000 and $1,150,000 and is fully eliminated at $1,150,000. The earlier limit was $750,000.

You must be a citizen or permanent resident, the home must be your principal residence, and the lot must be 0.5 hectares or less. Exemption code 49 is entered on the PTT return.

To keep the exemption, you must move in within 92 days of registration and occupy the home as your principal residence for the rest of the first year.

Foreign buyers, nominees and the GST/HST rebate

Foreign nationals, foreign corporations and taxable trustees pay an extra 20% of the fair market value of their proportionate share of residential property in the Capital Regional District, Fraser Valley Regional District, Metro Vancouver, Regional District of Central Okanagan and Regional District of Nanaimo. It does not apply to properties on Tsawwassen First Nation treaty lands.

A BC Provincial Nominee can be exempt from the additional tax if they are a confirmed nominee at registration, use the property as a principal residence, and take title as an individual. The exemption can be claimed only once.

Separately, a federal first-time home buyers' GST/HST rebate of up to $50,000 may be available on new or substantially renovated homes. Resale homes are not covered by this rebate, which applies only to new or substantially renovated homes bought from a builder or built by the owner. It applies to agreements with a builder entered on or after March 20, 2025, or owner-built homes started on or after that date.

What to do next

• Ask your lawyer or notary early for an estimate of PTT as part of your closing costs.
• Confirm the fair market value and whether the lot is within the size limits.
• Gather proof of citizenship or residency, BC residency history and any past home ownership.
• If you are buying with others, check who qualifies as a first-time buyer.
• If buying new, plan your move-in so you meet the 92-day rule.
• Check the Province's pages for any 2026 changes to thresholds.

If your situation involves foreign ownership, trusts, or a mix of residential and other uses, get advice before you sign, since the tax can change significantly.

Frequently asked questions