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Moving to Victoria

BC property transfer tax calculator: first-time, new-build and foreign buyers

Photo: Adam Jones from Kelowna, BC, Canada · CC BY-SA 2.0

BC property transfer tax is 1% of the first $200,000, 2% from $200,000 to $2 million and 3% above $2 million, plus a further 2% on residential value over $3 million. On $800,000 that is $14,000 before any exemption. First-time buyers get up to $8,000 off on homes up to $835,000 (phasing out at $860,000), so nothing is payable up to $500,000, and newly built homes up to $1.1 million are fully exempt (phasing out at $1.15 million). Foreign buyers pay an extra 20% in Greater Victoria. Rates checked 19 October 2026.

Last updated October 19, 2026 · Prices and schedules checked October 19, 2026

BC property transfer tax calculator

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Property transfer tax is worked out on the fair market value on the day the transfer is registered, which for an open-market sale is generally the purchase price. The first-time buyer exemption is full up to $835,000 and ends at $860,000; the newly built exemption is full up to $1,100,000 and ends at $1,150,000. Land over 0.5 hectares, leases and other special cases are not covered: use the BC Government's calculation examples. Rates checked October 19, 2026. Sources.

How the tax is worked out

Property transfer tax (PTT) is paid when a property is registered at the BC Land Title Office. The BC Government sets it on the fair market value on the day of registration, which for an open-market sale is generally the purchase price.

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

Each rate applies only to the slice of value in its band. On $650,000 that is $2,000 plus $9,000, which is $11,000, the same as the BC Government’s own first worked example.

Exemptions

First time home buyers. The exemption is the tax on the first $500,000, which is $8,000, so a home up to $500,000 pays no tax. It stays at the full amount up to $835,000 and is reduced proportionally between $835,000 and $860,000, with nothing from $860,000. At $850,000 that leaves $3,200. If only some of the buyers qualify, only their share of the exemption applies.

Newly built homes. The full tax is exempt up to $1,100,000, reduced between $1,100,000 and $1,150,000 and ended from $1,150,000. At $1,120,000 the BC Government’s table shows $20,400 of tax, a $12,240 exemption and $8,160 payable.

You cannot use both on the same purchase. Both need the home to be your principal residence on 0.5 hectares or less; larger parcels can get a partial exemption that this calculator does not work out.

Foreign buyers

The BC Government charges an additional 20% on the share of a residential property bought by a foreign national, foreign corporation or taxable trustee in five regional districts, including the Capital Regional District (Greater Victoria). It is on top of the general tax and the exemptions above do not apply to those buyers. BC Provincial Nominees can claim an exemption once.

What this calculator does not cover

Leases, land over 0.5 hectares, transfers between related people, trusts and other special cases are outside it. The BC Government’s calculation examples show how those work, and a lawyer or notary will confirm the figure on your actual transfer. For the rest of what you pay at closing, see closing costs in BC, and for the help available to first-time buyers, first-time home buyer in BC.

Frequently asked questions

How much is property transfer tax on an $800,000 home in BC?

The general tax is $14,000: 1% of the first $200,000 ($2,000) plus 2% of the remaining $600,000 ($12,000). A first-time home buyer buying a principal residence at that price gets the full $8,000 exemption, leaving $6,000. A newly built home at that price is fully exempt.

Who qualifies for the first time home buyers exemption?

According to the BC Government, you must be a Canadian citizen or permanent resident; have lived in BC for at least a year before registering (or filed at least two BC resident tax returns in the last six years); never have owned a principal residence anywhere in the world; and never have received the exemption or a refund. The property must be your principal residence, be worth $835,000 or less for the full exemption (up to $860,000 for a partial one), be 0.5 hectares or smaller and have only residential improvements.

Does the newly built home exemption need a first-time buyer?

No. It is for a Canadian citizen or permanent resident buying a newly built home as their principal residence, whether or not it is their first. The BC Government sets a full exemption up to $1,100,000 and none from $1,150,000, and says foreign entities and taxable trustees are not eligible.

Is there extra tax for foreign buyers in Victoria?

Yes. The BC Government charges an additional property transfer tax of 20% of the fair market value of a foreign national, foreign corporation or taxable trustee’s share of residential property in five regional districts, which include the Capital Regional District (Greater Victoria). It is charged on top of the general tax.

When do I pay it?

The tax is based on the fair market value on the day the transfer is registered at the Land Title Office. A lawyer or notary usually files the return and collects the tax with your closing funds. The BC Government page does not state a separate deadline.

Why do some sites still say $500,000 or $525,000?

Those were the first time home buyers’ thresholds for purchases before 1 April 2024. The BC Government now says the full exemption applies to fair market value of $835,000 or less and ends at $860,000, and for newly built homes the old $750,000 became $1,100,000. If a page quotes the old figures it is out of date: check the BC Government pages linked below.

More in Moving to Victoria

Sources

This is an independent planning site, not the operator or a government body. Prices checked on October 19, 2026; confirm with the operator before you book.