British Columbia property transfer tax (PTT) in 2026

PTT is a provincial tax set by the Property Transfer Tax Act. It is not the same as annual property tax, which is paid each year to your municipal or rural tax office.

The province lists three parts that can apply to one transfer:

General PTT applies to all taxable transactions: 1% of the fair market value up to and including $200,000, 2% of the value above $200,000 up to and including $2,000,000, and 3% of the value above $2,000,000. Each rate applies only to the slice of value in its band.

Further 2% on residential property over $3,000,000 is added on the residential property value above $3,000,000. For mixed-class property, only the residential portion counts.

Additional property transfer tax (APTT) of 20% applies to foreign nationals, foreign corporations and taxable trustees buying residential property in specified areas (see below).

Worked example: a $900,000 home with no exemption pays 1% of the first $200,000 ($2,000) plus 2% of the remaining $700,000 ($14,000), for $16,000 in total. Use our property tax calculator for annual tax, and the province's own PTT calculator for transfer tax estimates.

The buyer (the transferee) pays. Under section 2 of the Act, on application for registration of a taxable transaction at a land title office, the transferee must pay the tax and file a property transfer tax return, even if the transaction is exempt.

The province notes that in most cases property transfers are completed by a legal professional, who files the return. For applications submitted electronically, the tax must be paid by electronic means. The tax is payable when the application for registration is made at the land title office, not when the contract is signed.

PTT is based on the fair market value of the property (land and improvements) on the day it is registered with the Land Title Office. The province defines fair market value as the price a willing purchaser would pay a willing seller in the open market on the date of registration.

The purchase price is generally the best indicator when the property was sold in the open market and registered within a few months of the contract. For transfers outside the open market, a recent independent appraisal or the BC Assessment value may be used, but the province notes that assessed values reflect market conditions on July 1 of the previous year. Pre-sold strata units have special rules.

The first time home buyers' program removes PTT on the first $500,000 of value, so the most it can save is $8,000. For registrations on or after April 1, 2024, the province states the exemption is:

- the full tax if the fair market value is $500,000 or less; - $8,000 if the value is over $500,000 but no more than $835,000; - proportionally reduced if the value is over $835,000 and under $860,000.

Example from the province's table: a $700,000 home has $12,000 of PTT, less the $8,000 exemption, leaving $4,000 to pay.

The main conditions at registration are being a Canadian citizen or permanent resident; having lived in B.C. for at least a year immediately before registration, or filed at least 2 income tax returns as a B.C. resident in the last 6 taxation years; never having owned a registered interest in a property that was their principal residence anywhere in the world at any time; and never having received the exemption before. The property must be used only as a principal residence, be 0.5 hectares or smaller (larger lots or other buildings mean a partial exemption) and contain only residential improvements. To keep the exemption, the buyer must move in within 92 days of registration and occupy the home as a principal residence up to the first anniversary of registration. See the official program page and our first-time buyer overview.

The newly built home exemption removes all PTT on a qualifying new home with a fair market value of $1,100,000 or less (registrations on or after April 1, 2024; $750,000 before). Between $1,100,000 and $1,150,000 the exemption is phased out: at $1,101,000, for example, the province shows tax of $20,020.00, an exemption of $19,619.60 and $400.40 payable. Buyers must be Canadian citizens or permanent residents, it must be the first registration with a completed home, and the home must be a principal residence occupied within 92 days. The claim uses exemption code 49 on the PTT return. Under section 12.10 of the Act, a buyer cannot apply for both this and the first-time buyer exemption on the same transaction.

Foreign nationals, foreign corporations and taxable trustees pay the additional property transfer tax of 20% on their proportionate share of the residential fair market value, on top of general PTT, when the property is in the Capital Regional District, Fraser Valley Regional District, Metro Vancouver Regional District, Regional District of Central Okanagan or Regional District of Nanaimo. It does not apply on Tsawwassen First Nation treaty lands. The 20% rate is set in section 17.02 of the Property Transfer Tax Regulation. On a $900,000 home bought entirely by a foreign national in Metro Vancouver, the APTT is $180,000 plus $16,000 general PTT.

Exemptions include confirmed B.C. Provincial Nominees buying a principal residence (once) and qualifying Canadian-controlled limited partnerships. Separately, the federal Prohibition on the Purchase of Residential Property by Non-Canadians Act remains in force in 2026; under the law as consolidated to September 30, 2026, it is repealed on January 1, 2027. See non-resident taxes.

The province lists family exemptions for the transfer of a principal residence or recreational residence to a related individual, transfers resulting from a marriage breakdown, and family farm transfers between individuals or to or from a family farm corporation.

Other exemptions cover transfers to correct a conveyancing error, transfers to a registered charity, agreements for sale, changes from joint tenants to tenants in common, transfers following bankruptcy, subdivisions, amalgamations, Crown escheats and forfeits, the Veterans' Land Act, transfers to minors from the Public Guardian and Trustee, transfers to First Nations, and transfers to or from trust companies or the Public Trustee.

New qualifying purpose-built rental buildings are exempt from the further 2% on residential value over $3,000,000 (from January 1, 2024) and from general PTT from January 1, 2025 until December 31, 2030. Each exemption has its own conditions on the exemptions page.

April 1, 2024: the first-time buyer full-exemption threshold rose to $835,000 (partial to $860,000), from $500,000 (partial to $525,000), with the exemption limited to tax on the first $500,000. The newly built home threshold rose from $750,000 to $1,100,000 (phase-out to $1,150,000).

January 1, 2025: new qualifying purpose-built rental buildings became exempt from general PTT until December 31, 2030. Sales of residential property after December 31, 2024 may also be subject to the separate BC home flipping tax.

February 24, 2026: the province updated its guidance on transfers of land beneficially owned by First Nations; eligible payments may qualify for refunds (form FIN 270).

February 17, 2026 (Budget 2026): retroactive to January 1, 2025, the purpose-built rental exemptions are expanded to apply to newly constructed purpose-built rental buildings leased for a maximum of 24 months before their first taxable transaction is registered (the province's April 17, 2026 update describes this as allowing some tenants to move in before the entire building is completed). The province's Budget 2026 tax changes page lists no change to the PTT rates or to the first-time buyer, newly built home or APTT thresholds.