BC property transfer tax (PTT) is a provincial tax paid when purchasing real estate in British Columbia. The rate is 1% on the first $200,000 of the purchase price, 2% on the portion between $200,000 and $2,000,000, 3% on $2,000,001 to $3,000,000, and 5% on any amount above $3,000,000. On an $800,000 home — close to the Victoria benchmark — PTT is $14,000.
PTT Rates in BC (2026)
| Purchase Price Portion | Tax Rate | Max Tax |
|---|---|---|
| First $200,000 | 1% | $2,000 |
| $200,001 to $2,000,000 | 2% | $36,000 |
| $2,000,001 to $3,000,000 | 3% | $10,000 |
| Above $3,000,000 | 5% | No limit |
BC Property Transfer Tax Calculator
Enter a purchase price to calculate your estimated PTT.
This calculator provides an estimate for general information only. Consult a BC notary or real estate lawyer for advice specific to your transaction.
First-Time Home Buyer Exemption
BC offers a PTT exemption for eligible first-time home buyers purchasing a principal residence.
Full exemption
Homes priced up to $835,000 — PTT exempt on the first $500,000 of the purchase price. Maximum saving: $8,000.
Partial exemption
Homes priced between $835,000 and $860,000 — the $8,000 exemption phases out proportionally.
No exemption
Homes priced above $860,000 — full PTT applies on the entire purchase price.
Thresholds apply to properties registered on or after April 1, 2024.
To qualify, you must be a Canadian citizen or permanent resident, have never owned a principal residence anywhere in the world, and intend to occupy the home as your principal residence within 92 days of registration.
First-time buyer? See our complete guide covering programs, down payment, and what your agent should be protecting you from.
First-Time Buyer Guide 2026 →Newly Built Home Exemption
Buyers of newly constructed homes — whether or not they are first-time buyers — may qualify for a separate PTT exemption.
- Full exemption: Newly built homes priced up to $1,100,000.
- Partial exemption: Homes priced between $1,100,000 and $1,150,000 receive a proportionally reduced exemption.
- No exemption: Homes priced above $1,150,000 receive no newly built home exemption.
The home must be used as your principal residence within 92 days of registration to qualify. This exemption is particularly relevant for buyers of new townhomes and condos in Langford, Colwood, and Nanaimo, where new construction prices often fall within the exempt range.
Foreign Buyer Additional PTT
Foreign nationals and foreign-controlled corporations purchasing residential property in certain BC regions are subject to an additional 20% PTT on top of the standard rates. This does not apply to Canadian citizens or permanent residents.
The additional tax applies in designated areas including Metro Vancouver, Fraser Valley, Capital Regional District, Kelowna, and Nanaimo. Most buyers purchasing on Vancouver Island through IslandSold will be Canadian citizens or PRs and will not be subject to this tax.
PTT on Vancouver Island
Vancouver Island buyers pay the same provincial PTT rates as the rest of BC. With the Victoria benchmark single-family home price near $867,000 as of early 2026, most purchases will generate PTT in the $14,000 to $16,000 range — one of the larger closing costs to plan for. First-time buyers in markets like Langford, Colwood, or Cowichan Valley may find properties under $860,000 where a full or partial exemption applies, with the maximum $8,000 saving on homes priced up to $835,000.
For a complete picture of what you will owe at closing, use our mortgage calculator, which includes PTT estimates alongside CMHC insurance, property taxes, and monthly payment projections. Our BC buyers guide covers the full closing process step by step.
Frequently Asked Questions
How much is property transfer tax in BC?
BC PTT is 1% on the first $200,000, 2% on $200,001 to $2,000,000, 3% on $2,000,001 to $3,000,000, and 5% above $3,000,000.
Do first-time buyers pay property transfer tax in BC?
First-time buyers in BC may qualify for a PTT exemption saving up to $8,000 on homes priced up to $835,000, with a proportional phase-out between $835,000 and $860,000. Thresholds apply to properties registered on or after April 1, 2024.
How is BC property transfer tax calculated?
Multiply the first $200,000 by 1%, the amount between $200,000 and $2,000,000 by 2%, the amount between $2,000,000 and $3,000,000 by 3%, and anything above $3,000,000 by 5%. Add all four amounts.
Is there a PTT exemption for new homes in BC?
Yes — newly built homes priced up to $1,100,000 qualify for a full PTT exemption in BC.
