BC's Property Transfer Tax (PTT) is paid every time a property changes hands in British Columbia. Understanding the rates, exemptions, and timing can save you thousands — and for first-time buyers, the right qualification can mean zero PTT at all.
What Are the BC Property Transfer Tax Rates in 2025?
The PTT is calculated on the fair market value (purchase price) of the property at the time of transfer:
- 1% on the first $200,000
- 2% on the portion from $200,001 to $2,000,000
- 3% on the portion above $2,000,000
- Additional 2% on residential properties over $3,000,000 (total 5%)
Example: Buying a $900,000 detached home in Surrey = $2,000 (on first $200K) + $14,000 (on remaining $700K) = $16,000 PTT.
First-Time Home Buyer PTT Exemption
If you've never owned property anywhere in the world, you may qualify for a full or partial PTT exemption in BC. In 2025:
- Full exemption on homes priced at or below $500,000
- Partial exemption on homes priced between $500,001 and $525,000
- No exemption on homes above $525,000
You must be a Canadian citizen or permanent resident, have lived in BC for at least 12 consecutive months before purchase OR filed two BC income tax returns in the past 6 years, and plan to occupy the home as your principal residence within 92 days.
Newly Built Home PTT Exemption
New construction homes — never previously occupied — qualify for a PTT exemption on purchases up to $1,100,000. Partial exemption applies between $1,100,001 and $1,150,000. The home must be used as your principal residence. This exemption is separate from and can be combined with the first-time buyer exemption.
When Is PTT Paid in BC?
Property Transfer Tax is paid on the completion date — the day the title transfers to your name. Your notary or lawyer collects this amount along with other closing costs and remits it to the BC government. It is not paid at subject removal or at the time of your offer.
Foreign Buyer Additional PTT
Foreign nationals and corporations purchasing residential property in Metro Vancouver, Fraser Valley, Central Okanagan, Nanaimo Regional District, and Capital Regional District pay an additional 20% Property Transfer Tax. This is on top of the standard PTT rates. Canadian citizens and permanent residents are exempt from this surcharge.
Have Questions About PTT for Your Purchase?
PTT calculations can be complex, especially when exemptions apply. I'll help you understand exactly what you owe and whether you qualify for any exemptions before you make an offer.
Ask a Free Question ›Frequently Asked Questions
Is PTT included in the mortgage in BC?
What is the PTT on a $800,000 home in BC?
Does PTT apply to pre-sale condos in BC?
Are there any other transfer taxes in Metro Vancouver?
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