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First time home buyers property transfer tax exemption


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Blog by Liz Penner | October 7th, 2015


BC Property Transfer Tax (PTT)

Home buyers in BC pay a provincial Property Transfer Tax (PPT) when they buy a home. The tax is charged at a rate of 1% on the first $200,000 of the purchase price and 2% on the remainder.

First-time home buyers may be exempt from paying the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $475,000. There is a proportional exemption for between $475,000 and $500,000. At $500,000 and above the rebate is nil.

BC Ministry of Finance For information: Property Transfer Tax 250-387-0604

Information Courtest of the Vancouver Real Estate Board

To purchase your next home call Liz Penner with Greyfriars Realty at 604-376-3350.

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