BC property transfer tax: the rates, with worked examples

BC property transfer tax: 1% to $200,000, 2% to $2 million, 3% above, plus 2% over $3 million. Worked examples, exemptions and BC average prices.

Last checked November 8, 2026. Every rule below names its source; the official pages are listed at the end with their own dates.

In short

1% of the first $200,000, 2% from $200,000 to $2 million, 3% above $2 million, and a further 2% on residential value above $3 million.
It is paid once, when the change of ownership is registered at the Land Title Office, on the fair market value.
First-time buyers and buyers of newly built homes can be exempt in full or in part.

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The rates

Part of the fair market value	Rate
Up to and including $200,000	1%
$200,000 to $2,000,000	2%
Above $2,000,000	3%
Residential value above $3,000,000	a further 2%

The tax is charged on the fair market value on the date the transfer is registered. A lawyer or notary usually files the return and pays it at registration; the Land Title Office can refuse to register a transfer if the tax is not paid.

Worked examples

Fair market value	Property transfer tax	First-time buyers' exemption
$500,000	$8,000	$8,000
$835,000	$14,700	$8,000
$1,000,000	$18,000	none
$1,500,000	$28,000	none
$2,500,000	$53,000	none
$3,500,000	$93,000	none

Worked out from the rates above. Example: $1,000,000 = 1% of $200,000 ($2,000) + 2% of $800,000 ($16,000) = $18,000.

On today's average prices

Live data: the tax on each city's average price (12 months to September 2026)

Place	Average price	Tax at that price	First-time buyers' exemption	First-time buyers' share
Vancouver	$1,408,413	$26,168	none	17%
Surrey	$912,896	$16,258	none	20%
Burnaby	$1,005,394	$18,108	none	24%
Richmond	$1,019,790	$18,396	none	20%
Victoria	$882,483	$15,650	none	25%
Kelowna	$881,574	$15,631	none	19%
Kamloops	$656,845	$11,137	$8,000	31%
Nanaimo	$730,254	$12,605	$8,000	26%
Prince George	$474,774	$7,495	$7,495	38%

The average price of all homes sold, used as an example price; the tax is worked out from the rates on this page. A real home's price can be very different.

Source: Province of British Columbia, Property Transfer Tax data (OGL-BC), 12 months to September 2026. Data updated November 08, 2026.

All 168 BC cities and towns

Exemptions

First-time buyers: no tax on the first $500,000 for homes up to $835,000; partial up to $860,000. See the first-time buyer guide.
Newly built homes: full exemption up to $1,100,000 and partial up to $1,150,000, for a principal residence of 0.5 hectares or less.

Questions

How much is property transfer tax on a $1 million home in BC?

$18,000: 1% of $200,000 ($2,000) plus 2% of the next $800,000 ($16,000).

When is BC property transfer tax paid?

Once, when the transfer is registered at the Land Title Office, usually by your lawyer or notary.

Is property transfer tax the same as property tax?

No. Property transfer tax is paid once when you buy; property tax is paid every year to your municipality.

How much do first-time buyers save?

Up to $8,000: the tax on the first $500,000, for homes worth $835,000 or less.

Sources

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Last checked November 8, 2026. General information only - not financial, legal, tax or real estate advice. Rules change: confirm with the official source or a licensed professional before you act.