<<< back to article list

First time home buyers property transfer tax exemption

  • +1

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.

To search for your new home click on the link below: