Buyer tools
BC Property Transfer Tax Calculator
The biggest closing cost most BC buyers face, worked out in seconds, with the first-time buyer and newly built home exemptions applied.
Estimated Property Transfer Tax
$13,000
| Bracket | Rate | Tax |
|---|---|---|
| First $200,000 | 1% | $2,000 |
| $200,000 to $2,000,000 | 2% | $11,000 |
| Total | $13,000 |
Estimate only, based on the rates and exemption thresholds published by the Province of British Columbia as of 2024. Exemptions carry eligibility rules (residency, principal residence, prior ownership). Foreign buyers may owe the additional property transfer tax, not included here. Your lawyer or notary calculates the final figure at completion.
How the tax is calculated
- First $200,0001%
- $200,000 to $2,000,0002%
- Above $2,000,0003%
- Residential portion above $3,000,000+2%
On a $750,000 Courtenay home: $2,000 on the first $200,000 plus $11,000 on the next $550,000, for $13,000 at completion. A qualifying first-time buyer would pay about $5,000 under the exemption rules in effect since April 2024.
Other closing costs
Legal fees, inspection, appraisal, title insurance, property tax adjustments, moving, and GST on new construction. Ray's buyer guide walks through all of them.
Read the buyer's guideProperty Transfer Tax FAQ
Common questions
When is Property Transfer Tax paid?
On completion day, through your lawyer or notary, when the title transfers into your name. It is not financed by your mortgage, so it has to come from cash on hand alongside your down payment and legal fees.
Who qualifies for the first-time buyer exemption?
Canadian citizens or permanent residents who have lived in BC for at least 12 months (or filed two BC tax returns in the past six years), have never owned a principal residence anywhere in the world, and will live in the home for the first year. The home must be under the current price thresholds.
Is there GST on top of Property Transfer Tax?
GST applies to newly built homes (5%, with a partial rebate below certain prices), not to resale homes. Property Transfer Tax applies to both. On a new build, budget for both and ask Ray whether the newly built home PTT exemption applies.
Do out-of-province buyers pay more?
Canadian buyers from other provinces pay the same PTT as BC residents. Foreign nationals and foreign-controlled corporations may owe the additional property transfer tax in specified areas, and federal restrictions on non-Canadian purchases apply; those situations need a lawyer's advice before an offer.
Courtenay, Comox, Cumberland, Campbell River
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