BC Property Transfer Tax: every change since 2016
BC’s Property Transfer Tax has changed several times since 2016. A new top rate arrived twice, the tax on foreign buyers rose and spread beyond Metro Vancouver, and the limits on the first-time buyer and newly built exemptions both moved. Each change is listed below, newest first, with its source. The list holds the changes recorded in the Codex, which starts in 2016.
Timeline of BC Property Transfer Tax changes
- Currentbc.ptt.fthb_exemption
2024: BC First Time Home Buyer PTT exemption
- Full exemption
- Up to $500,000
- Flat reduction
- $8,000 off, up to $835,000
- Phase-out ends
- $860,000
- Currentbc.ptt.newly_built_exemption
2024: BC Newly Built Home PTT exemption
- Full exemption
- Up to $1,100,000
- Partial exemption
- Up to $1,150,000
- Currentbc.ptt.brackets
2018: BC Property Transfer Tax brackets
- First $200,000
- 1%
- $200,000 to $2,000,000
- 2%
- $2,000,000 to $3,000,000
- 3%
- Above $3,000,000, residential
- 5%
2018: BC Foreign Buyer Additional Property Transfer Tax
- Rate
- 20% of fair market value
- Applies in
- Metro Vancouver Regional District, Capital Regional District, Fraser Valley Regional District, Regional District of Nanaimo, Regional District of Central Okanagan
- Historical · superseded 2024-04-01bc.ptt.fthb_exemption
2017: BC First Time Home Buyer PTT exemption
- Full exemption
- Up to $500,000
- Partial exemption
- Up to $525,000
Pre-April 2024 thresholds. The 2024 budget materially raised the full exemption cap and introduced a flat $8,000 reduction band.
- Historical · superseded 2018-02-21bc.ptt.foreign_buyer_additional
2016: BC Foreign Buyer Additional Property Transfer Tax
- Rate
- 15% of fair market value
- Applies in
- Metro Vancouver Regional District
Introduced at 15% covering Metro Vancouver only. Raised to 20% and widened to five regional districts on 2018-02-21.
- Historical · superseded 2018-02-21bc.ptt.brackets
2016: BC Property Transfer Tax brackets
- First $200,000
- 1%
- $200,000 to $2,000,000
- 2%
- Above $2,000,000
- 3%
Budget 2016 added a third rate of 3% on the portion above $2 million; 1% on the first $200,000 and 2% up to $2 million carried on. Budget 2018 added a further 2% on the residential portion above $3 million, for 5% in total.
- Historical · superseded 2024-04-01bc.ptt.newly_built_exemption
2016: BC Newly Built Home PTT exemption
- Full exemption
- Up to $750,000
- Partial exemption
- Up to $800,000
Pre-April 2024 thresholds.
Related
Last reviewed by Bronson Job PREC, REALTOR®. Licence CC BY 4.0. How we verify.