British Columbia

In beautiful British Columbia, the Property Transfer Tax (PTT) applies when you buy a home — but first-time buyers often qualify for big savings.

If your home’s fair market value is $500,000 or less, you’ll enjoy a full exemption. Partial exemptions apply up to $525,000. For newly built homes, the full exemption goes up to $1,100,000, with partial relief available to $1,150,000.

Effective April 1, 2024, updated thresholds help more buyers benefit — up to $8,000 in savings for qualifying purchases. These incentives make homeownership in BC a little more attainable.