Property Transfer Tax

(August 06, 2017 )



When you purchase a property in British Columbia that is registered at the Land Title Office, you are responsible for paying property transfer tax. You pay the tax based on the fair market value of the property at the date of registration.You are charged property transfer tax when you make changes to a property's title, including:
  • acquiring a registered interest in the property
  • gaining an additional registered interest in the property
  • becoming the registered holder of a lease, life estate, or right to purchase for the property
The amount of tax you pay is based on the fair market value of the land and improvements (e.g. buildings) on the date of registration unless you purchase a pre-sold strata unit. The tax is charged at a rate of:
  • 1% on the first $200,000,
  • 2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000, and
  • 3% on the portion of the fair market value greater than $2,000,000.
For example, for a property with a fair market value of $1,000,000, the tax paid is $18,000 and $53,000 on a property with a fair market value of $2,500,000. If you are curious what your property transfer tax would be for your home, you can use this calculator to estimate what you owe based on the fair market value of your property.