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Enter a price and this works out what you pay on completion day in British Columbia: property transfer tax after the first-time home buyers’ or newly built home exemption, CMHC insurance if you put down less than 20%, legal fees with tax, land title fees, and your monthly mortgage payment.
Subject to change. The tax rules below are the ones published by the Province on gov.bc.ca and in force on 9 November 2026. Confirm your own numbers with your lawyer or notary, and with the Property Taxation Branch at 1-888-841-0090 or gov.bc.ca/propertytransfertax.
Your purchase
Fees you can change
Mortgage payment uses semi-annual compounding, the standard for Canadian fixed-rate mortgages. Use the rate your lender quoted. Estimates only. Lender, lawyer and inspection fees vary.
How BC property transfer tax is worked out
Property transfer tax is charged on the fair market value of the home when the transfer is registered at the Land Title Office, normally on completion day. Your lawyer or notary files the return and pays it from the money you give them before completion. It cannot be added to your mortgage.
| Part of the price | Rate | Tax on that part |
|---|---|---|
| First $200,000 | 1% | up to $2,000 |
| $200,000 to $2,000,000 | 2% | up to $36,000 |
| Above $2,000,000 | 3% | 3% of the excess |
| Residential value above $3,000,000 | further 2% | 2% of the excess |
A $1,200,000 resale home pays $2,000 on the first $200,000 plus $20,000 on the next $1,000,000: $22,000.
First-time home buyers’ exemption
The current amounts apply to homes registered on or after 1 April 2024.
| Fair market value | What you get |
|---|---|
| $500,000 or less | No property transfer tax |
| $500,000 to $835,000 | $8,000 off the tax |
| $835,000 to $860,000 | Part of the $8,000, shrinking by $320 for every $1,000 over $835,000 |
| $860,000 or more | No exemption |
To qualify you must be a Canadian citizen or permanent resident, have lived in BC for the year before registration or filed two BC tax returns in the last six years, and never have owned a principal residence anywhere in the world or used this exemption before. The home must be 0.5 hectares or smaller and used only as your principal residence. You must move in within 92 days and live there until the first anniversary of registration.
Newly built home exemption
| Fair market value | What you get |
|---|---|
| $1,100,000 or less | No property transfer tax |
| $1,100,000 to $1,150,000 | Partial exemption: tax × (1,150,000 − value) ÷ 50,000 |
| $1,150,000 or more | No exemption |
You do not need to be a first-time buyer, but you must be a Canadian citizen or permanent resident, the home must be newly built and never lived in, and it must be your principal residence for the first year: move in within 92 days. Only one exemption applies to a purchase, so the calculator uses whichever saves you more.
CMHC insurance and the minimum down payment
With less than 20% down you need mortgage default insurance. The premium is added to your mortgage, not paid in cash. BC does not charge sales tax on it. Insured mortgages are available on homes priced below $1,500,000; at $1,500,000 or more you need 20% down.
| Purchase price | Minimum down payment |
|---|---|
| Up to $500,000 | 5% |
| $500,000 to $1,499,999 | 5% of the first $500,000 and 10% of the rest |
| $1,500,000 or more | 20% |
| Mortgage as % of price | CMHC premium |
|---|---|
| 80.01% to 85% (15% to 19.99% down) | 2.80% |
| 85.01% to 90% (10% to 14.99% down) | 3.10% |
| 90.01% to 95% (5% to 9.99% down) | 4.00% |
First-time buyers and buyers of newly built homes can take a 30-year amortization on an insured mortgage. CMHC adds 0.20% to the premium for it.
The other closing costs
- Land Title Office fees: $83.82 to register the transfer and $83.82 for the mortgage, each plus a $3.55 electronic filing charge (rates from 1 April 2026).
- Lawyer or notary: the fee is set by the firm. BC charges 7% PST and 5% GST on it, so add 12%.
- Title insurance: usually arranged by your lawyer or notary, often a few hundred dollars.
- Home inspection: paid before you remove subjects. For a condo or townhouse also budget for the strata documents, including the Form B information certificate.
- Adjustments: if the seller prepaid property tax or strata fees, you repay your share on completion.
- GST on new homes: 5% on a newly built or substantially renovated home, unless the price includes it. Resale homes have no GST. The federal First-Time Home Buyers’ GST rebate covers up to $50,000 on a new home up to $1,000,000 and phases out by $1,500,000. Confirm with the builder and your lawyer whether you qualify.
Worked examples
| Purchase | Tax | Exempt | You pay |
|---|---|---|---|
| $650,000 resale condo, first-time buyer | $11,000 | $8,000 | $3,000 |
| $850,000 resale townhouse, first-time buyer | $15,000 | $3,200 | $11,800 |
| $899,000 newly built condo | $15,980 | $15,980 | $0 |
| $1,200,000 resale home | $22,000 | $0 | $22,000 |
| $3,500,000 house | $93,000 | $0 | $93,000 |
The $3,500,000 figure is $2,000 + $36,000 + $45,000 under the general rates, plus $10,000 for the further 2% on the $500,000 above $3,000,000.
A first-time buyer at $650,000 with 10% down ($65,000) borrows $585,000. The CMHC premium is 3.10%, or $18,135, so the mortgage is $603,135. At 4.5% over 25 years that is about $3,338 a month. On a 30-year amortization the premium is 3.30% ($19,305) and the payment about $3,047.
Questions buyers ask
How much is the property transfer tax in BC?
1% on the first $200,000, 2% from $200,000 to $2,000,000, 3% above $2,000,000, and a further 2% on residential value above $3,000,000. On a $1,200,000 home that is $22,000 before any exemption.
Do first-time home buyers pay property transfer tax in BC?
Not up to $500,000. From $500,000 to $835,000 they get $8,000 off, and a smaller amount up to $860,000. Above that they pay the full tax. On a $650,000 condo a first-time buyer pays $3,000 instead of $11,000.
Is there property transfer tax on a new home?
Not if it is a newly built home worth $1,100,000 or less that you will live in, and you are a Canadian citizen or permanent resident. There is a partial exemption up to $1,150,000. GST of 5% still applies unless the price includes it.
What closing costs should I budget for besides the down payment?
Property transfer tax, legal or notary fees plus 12% tax, Land Title fees of about $175 with a mortgage, title insurance, a home inspection, adjustments for prepaid property tax or strata fees, and moving. For a resale home without an exemption the transfer tax is usually most of it.
When do I pay CMHC insurance?
When your down payment is under 20%. The premium, from 2.80% to 4.00% of the mortgage depending on your down payment, is added to the mortgage. Homes priced at $1,500,000 or more cannot be insured and need 20% down.
How is a BC mortgage payment calculated?
Canadian fixed-rate mortgages compound twice a year, not monthly, so the monthly rate is slightly lower than the quoted rate divided by 12. This calculator uses that method. Your lender’s figure can differ by a few dollars.
Who do I call to confirm my property transfer tax?
Your lawyer or notary, who files the return, or the Province’s Property Taxation Branch at 1-888-841-0090 or PTTENQ@gov.bc.ca.
Buying on the North Shore?
I’m Tom Jahed, a REALTOR® with Vanak Realty in North Vancouver. Ten years on the North Shore and 400+ transactions, including pre-sales. I can walk you through these numbers for a real listing, in English or Farsi.
Other calculators
- Property transfer tax only
- Mortgage and stress test
- First-time buyer costs in North Vancouver
- Strata fee calculator
- Rent vs buy
- All calculators
Sources
- Province of BC, Property transfer tax (rates; Property Taxation Branch 1-888-841-0090, 236-478-1593, PTTENQ@gov.bc.ca).
- Province of BC, First time home buyers’ exemption amounts.
- Province of BC, Newly built home exemption amounts.
- Province of BC, Additional property transfer tax for foreign entities.
- CMHC, Mortgage loan insurance premiums.
- LTSA, Fee listing, 1 April 2026.
Last reviewed 9 November 2026. Subject to change. This page is an estimate, not tax or legal advice. Rules and fees change; confirm with your lawyer or notary and with gov.bc.ca (1-888-841-0090) before you rely on a number.
Where on the North Shore are you buying?
Prices, strata fees and competition all change by neighbourhood. The area guides for North Vancouver and West Vancouver cover what these numbers look like street by street.