BC Property Transfer Tax
Calculator
Use this free property transfer tax calculator to work out exactly what you'll owe on closing day in British Columbia. The tool applies the current 2026 PTT rates, factors in the first-time home buyer exemption and newly built home exemption, and shows the bottom-line cost in seconds — whether you're buying a starter condo or a $2M house.
Base Property Transfer Tax
Total Property Transfer Tax
$0
Enter a purchase price to see your estimate
Results are estimates based on current BC property transfer tax rates. Exemption eligibility has additional requirements not captured by this calculator. Consult a lawyer or notary for advice specific to your situation.
How Property Transfer Tax Works in BC
Property transfer tax (PTT) is a provincial tax paid every time a property changes ownership in British Columbia. It's due on the completion date of your purchase — the day the title legally transfers to your name.
Your lawyer or notary will calculate and collect the PTT as part of your closing costs, then remit it directly to the BC government. This is a one-time cost — you don't pay it annually like property taxes.
The tax is calculated on a tiered percentage basis — similar to income tax brackets. Lower portions of the purchase price are taxed at lower rates, with higher portions taxed at progressively higher rates.
Good news: BC offers exemptions for first-time home buyers and newly built homes that can significantly reduce or eliminate your PTT. Keep reading to see if you qualify.
Who Pays Property Transfer Tax in BC?
The buyer pays property transfer tax in BC. Sellers do not pay PTT on the disposition of a property — it is a one-time tax owed by the purchaser on the completion date, when the title legally transfers to your name at the Land Title Office.
In practice, you don't cut a separate cheque to the government. Your lawyer or notary collects the PTT as part of your closing funds, then remits it directly to the BC Ministry of Finance on your behalf. It shows up on your statement of adjustments alongside your other closing costs.
Important: Property transfer tax is separate from the annual property tax you pay your municipality. PTT is a one-time provincial tax paid on purchase. Property tax is recurring and based on assessed value.
Do buyers always pay PTT?
In almost every standard purchase, yes. The few exceptions are transfers that qualify for a full exemption — first-time home buyers under the threshold, newly built homes under the threshold, certain family transfers between spouses, parent-to- child principal residence transfers, and inheritance transfers. These are covered in the exemption sections below.
BC Property Transfer Tax Rates (2026)
| Purchase Price Portion | Tax Rate | Example ($1M) |
|---|---|---|
| First $200,000 | 1% | $2,000 |
| $200,001 to $2,000,000 | 2% | $16,000 |
| $2,000,001 to $3,000,000 | 3% | — |
| Over $3,000,000 | 5% | — |
| Total PTT on $1M | — | $18,000 |
The 5% rate on amounts over $3,000,000 applies only to residential properties. Commercial properties are taxed at 1% on the first $200,000 and 2% on the remainder, regardless of price.
How to Calculate Property Transfer Tax in BC
To calculate property transfer tax in BC, apply the tiered rates to your purchase price one bracket at a time, then add the tiers together. Here's the formula:
Take the fair market value
PTT is calculated on the fair market value of the property — usually the purchase price in an arm's-length transaction. For court-ordered sales or related-party transfers, an appraisal may be required.
Apply 1% to the first $200,000
The first tier covers the portion of the purchase price up to $200,000. Multiply by 0.01. Maximum tier-1 PTT: $2,000.
Apply 2% to the portion from $200,001 to $2,000,000
The middle tier covers everything between $200,001 and $2,000,000. Multiply that portion by 0.02. Maximum tier-2 PTT: $36,000 on $1,800,000.
Apply 3% to the portion from $2,000,001 to $3,000,000
If the price is above $2 million, multiply the portion from $2,000,001 to $3,000,000 by 0.03. Maximum tier-3 PTT: $30,000 on $1,000,000.
Apply 5% to any residential portion over $3,000,000
For residential properties only, multiply any portion above $3 million by 0.05. This tier does not apply to commercial property.
Add the tiers together
The sum of all applicable tiers is your total property transfer tax. Subtract any first-time home buyer or newly built home exemption you qualify for.
Worked Example — $850,000 Home
A first-time home buyer purchasing this property would receive a partial exemption (since the price is between $835,000 and $860,000), reducing the PTT by several thousand dollars. Use the calculator at the top of the page to see your exact exemption.
BC Property Transfer Tax Exemption: First-Time Home Buyers
If you've never owned a home anywhere in the world, you may qualify for BC's first-time home buyer PTT exemption. This can eliminate your entire property transfer tax on homes up to $835,000.
Eligibility Requirements
Exemption Thresholds
The FTHB exemption saves you up to $8,000 — equivalent to the PTT on the first $500,000 of the purchase price. If your home is between $835,000 and $860,000, the exemption is proportionally reduced on a sliding scale. Use the calculator above to see your exact exemption amount.
BC Property Transfer Tax Exemption: Newly Built Homes
Buying a brand-new home? You may qualify for BC's newly built home exemption, which offers a full PTT exemption on new homes up to $1,100,000 and a partial exemption between $1,100,000 and $1,150,000.
This exemption can be combined with the first-time home buyer exemption. If you're a first-time buyer purchasing a newly built home, you could receive both exemptions — up to $8,000 from the FTHB exemption plus additional savings from the newly built home exemption.
Eligibility Requirements
Exemption Thresholds
Tip: If you're buying a pre-sale (presale) property, you may also qualify for a GST New Home Rebate, which can save you additional money on your purchase.
Foreign Buyer Additional Tax
Foreign nationals and foreign-controlled corporations must pay an additional 20% tax on the fair market value of residential property in designated areas of BC, which includes the Metro Vancouver Regional District, the Fraser Valley Regional District (including Surrey), and several other regions.
This is in addition to the regular property transfer tax. On a $1,000,000 home, the foreign buyer tax alone would add $200,000 to your closing costs.
Example — $1M Home (Foreign Buyer)
Exemptions may apply if you're a permanent resident, a provincial nominee, or a refugee. If you become a permanent resident or Canadian citizen within one year of the property transfer, you may apply for a refund of the foreign buyer tax.
PTT at Different Price Points
Here's how property transfer tax compares across common Surrey price points, including potential exemption savings:
| Purchase Price | Base PTT | With FTHB Exemption | With New Build Exemption |
|---|---|---|---|
| $500,000 | $8,000 | $0 (exempt) | $0 (exempt) |
| $750,000 | $13,000 | $13,000 | $0 (exempt) |
| $1,000,000 | $18,000 | $18,000 | $18,000 |
| $1,500,000 | $28,000 | $28,000 | $28,000 |
| $2,000,000 | $38,000 | $38,000 | $38,000 |
FTHB = first-time home buyer. Exemption savings assume all eligibility criteria are met. Actual savings may vary.
Property Transfer Tax vs Property Tax in BC
These two taxes are constantly mixed up. They are not the same. Property transfer tax (PTT) is a one-time provincial tax paid by the buyer on the completion date when ownership changes. Property tax is an annual municipal tax paid every year by the registered owner, based on the property's assessed value as set by BC Assessment.
| — | Property Transfer Tax | Property Tax |
|---|---|---|
| Frequency | One-time, on purchase | Annual |
| Charged by | Province of BC | Your municipality |
| Who pays | Buyer | Current owner |
| Based on | Fair market value at purchase | BC Assessment value |
The BC Property Transfer Tax Act
Property transfer tax is governed by the BC Property Transfer Tax Act, which sets the rates, defines the taxable transactions, and lists every available exemption. The Act has been in force since 1987 and is updated periodically — the current 5% top-tier rate on residential portions over $3 million was added in 2018, and the foreign buyer additional tax provisions were expanded most recently in 2023.
For the official rates, exemption rules, and registration requirements, see the BC government's Property Transfer Tax page. If you're comparing PTT to your other closing costs, also see the BC commission calculator and rescission period calculator.
Need Help Understanding Your Closing Costs?
Property transfer tax is just one part of your closing costs. I'll walk you through everything — PTT, legal fees, title insurance, and more — so there are no surprises on completion day.
BC Property Transfer Tax FAQ
How much is property transfer tax in BC?
BC property transfer tax is calculated on a tiered basis: 1% on the first $200,000, 2% on the portion from $200,001 to $2,000,000, 3% on the portion from $2,000,001 to $3,000,000, and 5% on amounts over $3,000,000 (residential properties). On a $1,000,000 home, the PTT is $18,000.
Who pays property transfer tax in BC?
The buyer pays property transfer tax in BC. PTT is a one-time tax owed by the purchaser on the completion date, when the property title legally transfers to your name. Sellers do not pay PTT — it is collected from the buyer's closing funds and remitted to the BC government by your lawyer or notary.
What is property transfer tax in BC?
Property transfer tax (PTT) is a provincial tax charged in British Columbia each time a property changes ownership. It is set out in the BC Property Transfer Tax Act and is due on the completion date of your purchase. PTT is separate from your annual property tax — it is a one-time cost paid only when you buy or transfer a property.
How is property transfer tax calculated in BC?
To calculate property transfer tax in BC, apply the tiered rates to your purchase price: 1% on the first $200,000, plus 2% on the portion from $200,001 to $2,000,000, plus 3% on the portion from $2,000,001 to $3,000,000, plus 5% on any residential portion over $3,000,000. Add the tiers together for your total PTT. Use the calculator above for an instant breakdown.
How much is BC property transfer tax on a $1 million home?
On a $1,000,000 home, BC property transfer tax is $18,000. That's $2,000 (1% of the first $200,000) plus $16,000 (2% of the remaining $800,000). First-time buyers and newly built home buyers do not qualify for an exemption at this price point.
Do first-time home buyers pay property transfer tax in BC?
First-time home buyers who are Canadian citizens or permanent residents may qualify for a full PTT exemption of up to $8,000 on properties with a fair market value of $835,000 or less. Properties between $835,000 and $860,000 receive a sliding-scale partial exemption. Above $860,000, no first-time home buyer property transfer tax exemption applies.
What property transfer tax exemptions are available in BC?
BC offers three main property transfer tax exemptions: the first-time home buyer exemption (up to $8,000 on homes up to $835,000), the newly built home exemption (full exemption on new construction up to $1,100,000), and various family transfer exemptions (gifts between spouses, parent-to-child principal residence transfers, and inheritance transfers). The first-time buyer and newly built exemptions can be combined.
Is there a property transfer tax exemption for newly built homes in BC?
Yes. The newly built home exemption provides a full PTT exemption on new construction with a fair market value up to $1,100,000, and a partial exemption between $1,100,000 and $1,150,000. The home must be your principal residence and you must be a Canadian citizen or permanent resident. This exemption can be combined with the first-time home buyer exemption.
When is property transfer tax due in BC?
Property transfer tax is due on the completion date of your purchase — the day the property legally transfers to your name at the Land Title Office. Your lawyer or notary will collect the PTT as part of your closing costs and remit it to the BC government on your behalf.
What's the difference between property tax and property transfer tax in BC?
Property transfer tax is a one-time provincial tax paid by the buyer on the completion date when ownership changes. Property tax is an annual municipal tax paid every year by whoever owns the property, based on its assessed value. PTT is paid once; property tax is recurring.
Can I get a property transfer tax refund in BC?
Yes, in some cases. If you paid PTT but later discover you were eligible for an exemption you didn't claim, you can apply for a refund. You can also get a refund if the property transfer is cancelled or the purchase price is reduced after closing. Refund applications must be made within 18 months.
Is property transfer tax different for foreign buyers in BC?
Yes. Foreign nationals and foreign-controlled corporations must pay an additional 20% foreign buyer tax on top of the regular PTT in designated areas of BC, including Metro Vancouver and the Fraser Valley Regional District. On a $1,000,000 property, this adds $200,000. Permanent residents, provincial nominees, and refugees may be exempt.
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