British Columbia Property Transfer Tax Calculator
Table of Contents
Property transfer tax in British Columbia
The property transfer tax charged in British Columbia is based on the value of the home purchased. As the home price increases so do the tiers and property transfer tax changed on the home. These are the property transfer tax tiers in British Columbia.
| Home Price | Marginal tax rate |
|---|---|
| first $200,000 | 1.00% |
| over $200,000 up to $2,000,000 | 2.00% |
| over $2,000,000 up to $3,000,000 | 3.00% |
| over $3,000,000 | 5.00% (residential only) |
The final tax tier charges a 5.00% property transfer tax on residential properties priced over $3,000,000. If the property contains both commercial and residential property, this additional 2% tax will only be paid on the residential portion.
If you are a foreign purchaser there are additional property transfer taxes that will need to be paid.
BC property transfer tax example
To show you how this tiered property transfer tax system works we will go over an example if we were to purchase the average priced home in British Columbia which is $949,560 as of January 2025.
The first property tax bracket charges a 1.00% tax on the first $200,000
- $200,000 x 1.00% = $2000
- $949,560 - $200,000 = $749,560
The next tier charges tax of 2.00% on the amount of purchase price over $200,000 up to $2,000,000.
- $749,560 x 2.00% = $14,991
We can now add up the taxes from each tier to arrive at our total property transfer tax.
- $2,000 + $14,991 = $16,991