In British Columbia, you pay property transfer tax when you register the transfer of a home. The rates are marginal, so each one applies only to the part of the value inside its bracket.
The residential brackets
| Part of the fair market value | Rate |
|---|---|
| Up to $200,000 | 1% |
| $200,000 to $2,000,000 | 2% |
| $2,000,000 to $3,000,000 | 3% |
| Above $3,000,000 | 5% |
The 5% rate is the 3% general rate plus an extra 2% on the residential value above $3,000,000.
A worked example: $500,000
On a $500,000 home, the tax is 1% of the first $200,000 ($2,000), plus 2% of the next $300,000 ($6,000). That totals $8,000.
First-time buyers
British Columbia has first-time buyer relief. Eligibility and amounts depend on the price and the buyer, so check the official page before you rely on any reduction.
Use the figure as an estimate
The affordability calculator’s cash-to-close figure uses the provincial rules for the province you choose. Confirm the final amount with your lawyer or notary when the transfer is registered.
Try the land transfer tax calculator →
Official source
Government of British Columbia · Property transfer tax
This guide explains general rules. Confirm your figures with your lender, lawyer, or the official source before you act.