BC Property Transfer Tax Calculator
BC Property Transfer Tax Calculator
Property transfer tax on a $1,000,000 BC home is $18,000: 1% on the first $200,000 and 2% up to $2,000,000.
Property Transfer Tax
One-time tax payable to the Province of BC at closing.
- Base PTT (1% / 2% / 3% / 5% tiered)
- $17,000
- · PTT rates: 1% on first $200k, 2% on $200k–$2M, 3% on $2M–$3M, 5% on residential portion above $3M.
- · FTHB: full exemption ≤ $500k; partial $500k–$860k (phase-out).
- · Newly Built: full exemption ≤ $1.1M; partial $1.1M–$1.15M.
- · Foreign Buyer Tax applies in Greater Vancouver, Fraser Valley, Capital, Nanaimo and Central Okanagan regional districts.
How it works
BC charges 1% on the first $200,000, 2% from $200,000 to $2,000,000, 3% from $2,000,000 to $3,000,000, and 5% on the residential portion above $3,000,000.
First-time buyers can save up to $8,000 on homes up to $835,000, phasing out by $860,000. Newly built homes are fully exempt up to $1,100,000.
Common questions
How much is property transfer tax on a $1M home in BC?
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$18,000 before any exemption.
Who pays property transfer tax in BC?
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The buyer, at closing, through their lawyer or notary.
Can PTT be added to my mortgage?
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No. It must be paid in cash at completion.
Is there a first-time buyer exemption?
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Yes. Up to $8,000 off for qualifying buyers on homes up to $835,000, with a partial exemption up to $860,000.
Sources: Province of BC: Property transfer tax
Written and reviewed by Mani Garcha, REALTOR® with Royal LePage Wolstencroft Realty. Last reviewed November 2026. Guidance only, not legal or tax advice.