Property Transfer Tax in BC: Rates, Exemptions and Tri-Cities Examples (2026)
Property transfer tax (PTT) is one of the biggest closing costs when you buy a home in British Columbia, and it surprises a lot of buyers because it has to be paid in cash, on top of your down payment.
I'm Hiroshi Kubota, a West Coquitlam-based REALTOR®, and I walk every buyer through this number before they make an offer. This guide explains how PTT is calculated, who pays it, the exemptions that can reduce it to zero, and what it costs on real homes in Coquitlam, Port Moody, Port Coquitlam and North Burnaby.
BC Property Transfer Tax Calculator
- Tax before exemption
- Exemption
- Tax payable
Buying in the Tri-Cities? Book a call with Hiroshi to go over your full closing costs.
Estimate only, for a principal residence on a property under 0.5 hectares. Your lawyer or notary will confirm the final amount.
What is property transfer tax?
Property transfer tax is a one-time provincial tax paid by the buyer when a property's title is registered at the BC Land Title Office. Your lawyer or notary calculates it and pays it on your behalf at completion, using funds you provide.
It isn't added to your mortgage, so you need it available as cash.
How BC property transfer tax is calculated
PTT is based on the property's fair market value, which is usually the purchase price, and charged in tiers:
| Portion of the price | Rate |
|---|---|
| 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% (3% plus an additional 2%) |
Example: a $975,000 Coquitlam townhouse
1% × $200,000 = $2,000
2% × $775,000 = $15,500
Total PTT = $17,500
Property transfer tax on typical Coquitlam, Port Moody and Port Coquitlam homes
At prices close to current Tri-Cities benchmarks, with no exemption applied:
| Home | Price | Property transfer tax |
|---|---|---|
| Port Coquitlam condo | $550,000 | $9,000 |
| Coquitlam condo | $640,000 | $10,800 |
| North Burnaby condo | $660,000 | $11,200 |
| Port Moody condo | $675,000 | $11,500 |
| Port Coquitlam townhouse | $835,000 | $14,700 |
| Coquitlam townhouse | $975,000 | $17,500 |
| Coquitlam detached | $1,585,000 | $29,700 |
| Port Moody detached | $1,905,000 | $36,100 |
The first-time home buyers' exemption
If you're buying your first home, you may pay far less, or nothing at all.
How much it saves (for properties registered on or after April 1, 2024):
| Fair market value | Exemption |
|---|---|
| $500,000 or less | Full exemption (no PTT) |
| $500,001 to $835,000 | $8,000 off |
| $835,001 to $859,999 | Partial exemption, reducing as the price rises |
| $860,000 or more | No exemption |
Example: a first-time buyer purchasing a $650,000 condo near Coquitlam Centre
PTT before exemption: $11,000
First-time buyer exemption: −$8,000
PTT payable: $3,000
Who qualifies. At the time of registration you must:
- Be a Canadian citizen or permanent resident
- Have lived in BC for at least 12 months immediately before registration, or have filed at least 2 BC income tax returns in the last 6 years
- Have never owned an interest in a principal residence anywhere in the world
- Have never received a first-time buyer exemption or refund before
The home must be your principal residence, have a fair market value of $835,000 or less for the full exemption ($860,000 cap for a partial one), and be 0.5 hectares or smaller.
After you buy, you must move in within 92 days of registration and live there as your principal residence until the first anniversary, or you may have to repay part of the exemption.
Buying with a partner who doesn't qualify? Only the qualifying buyer's share gets the exemption. If you each own 50%, you get 50% of the exemption amount.
What this means for first-time buyers in the Tri-Cities
Most condos in Coquitlam, Port Moody, Port Coquitlam and North Burnaby fall under the $835,000 cap, so first-time buyers there usually save the full $8,000. That includes much of the newer stock around SkyTrain stations like Burquitlam, Lincoln and Moody Centre.
Most townhouses in Coquitlam and Port Moody are now above $860,000 and don't qualify. Some Port Coquitlam townhouses sit right around the cap. If you're shopping between $835,000 and $860,000, every few thousand dollars changes your tax.
If you're weighing a condo now versus waiting for a townhouse, see Condo vs. Townhouse: When Your Family Outgrows the Condo.
The newly built home exemption
Buying a brand-new home or presale? You don't need to be a first-time buyer for this one.
- Full exemption if the fair market value is $1,100,000 or less
- Partial exemption between $1,100,000 and $1,150,000
- No exemption at $1,150,000 or more
The home must be newly built and never occupied, you must be a Canadian citizen or permanent resident, and it must become your principal residence: move in within 92 days and live there for the rest of the first year.
With so many new condo towers completing in Coquitlam and Burnaby, this exemption matters. A new $850,000 condo can mean $0 in property transfer tax for a qualifying buyer, compared with $15,000 on a resale unit at the same price.
You claim either the first-time buyer exemption or the newly built home exemption on a purchase, not both.
Who pays property transfer tax in BC?
The buyer pays it. Sellers don't pay PTT.
When is property transfer tax paid?
On the completion date, when your lawyer or notary registers the transfer. Plan to have the funds in your lawyer's trust account a few days before completion.
Additional tax for foreign buyers
Foreign nationals and foreign entities buying residential property in designated areas of BC, including Metro Vancouver, pay an additional 20% property transfer tax on top of the regular tax. If you're new to Canada, confirm your status with a lawyer before you make an offer.
Frequently asked questions
How much is property transfer tax in BC?
1% on the first $200,000, 2% from $200,000 to $2 million, 3% from $2 million to $3 million, and 5% on the residential portion above $3 million.
How much is property transfer tax on a $1 million home in BC?
$18,000: 1% on the first $200,000 ($2,000) plus 2% on the next $800,000 ($16,000).
Do first-time buyers pay property transfer tax in BC?
Not on homes worth $500,000 or less. Between $500,000 and $835,000 they get $8,000 off. A partial exemption applies up to $860,000.
Can I add property transfer tax to my mortgage?
No. It must be paid in cash at completion, separate from your down payment.
Can I claim the first-time buyer and newly built exemptions together?
No. You claim one or the other on a purchase.
I owned a home in another country. Am I a first-time buyer in BC?
Not for property transfer tax. If you've owned and lived in a principal residence anywhere in the world, you don't qualify for the first-time buyer exemption.
I qualified but forgot to claim the exemption. Can I get a refund?
Yes. You can apply from the first anniversary of registration up to 18 months after the registration date.