BC Property Transfer Tax Calculator
BC Property Transfer Tax
The general property transfer tax applies for all taxable transactions. The general property transfer tax rate is determined by calculating:
1% of the fair market value up to and including $200,000
2% of the fair market value greater than $200,000 and up to and including $2,000,000
3% of the fair market value greater than $2,000,000
Further 2% on residential property over $3,000,000
If the property has residential property worth over $3,000,000, a further 2% tax will be applied to the residential property value greater than $3,000,000.
If the property is mixed class (such as residential and commercial), you pay the further 2% tax on only the residential portion of the property.
If the property includes land classed as farm only because it is used for an owner’s or farmer’s dwelling, up to 0.5 hectares will be treated as residential property.
Additional property transfer tax
If you’re a foreign national, foreign corporation or taxable trustee, you must also pay the additional property transfer tax on the fair market value of the residential portion of the property if the property is within a specified area of B.C.