BC Property Transfer Tax is charged on the fair market value of the property, in brackets: 1% on the first $200,000, 2% up to $2 million, 3% up to $3 million, and 5% on anything above $3 million.
Calculate Your BC Property Transfer Tax
Quick reference for common North Shore price points:
| Purchase price | Property transfer tax |
| $750,000 | $13,000 |
| $1,000,000 | $18,000 |
| $1,300,000 | $24,000 |
| $1,800,000 | $34,000 |
| $2,500,000 | $53,000 |
| $3,500,000 | $93,000 |
It is due in cash on completion day and it is not financeable. First time buyers and buyers of new construction may pay nothing, which we cover below. You can also run your own numbers on our BC property tax and transfer tax calculator.
How the Tax Is Calculated: The 1%, 2%, 3% and 5% Brackets
The brackets are marginal, the same way income tax works. You do not pay one rate on the whole price.
| Portion of purchase 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 | 5% (3% plus the additional 2%) |
To do it by hand on a $1.3 million townhome:
- $200,000 at 1% = $2,000
- $1,100,000 at 2% = $22,000
- Total: $24,000
A useful shortcut for anything between $200,000 and $2 million: 2% of the price minus $2,000. It is exact, not an approximation.
Three Real North Shore Examples: $750K Condo, $1.3M Townhome, $2.5M Detached
A $750,000 Lower Lonsdale condo. $2,000 + $11,000 = $13,000. If both buyers are first time buyers, this drops to $0 with the exemption. Prices in that band are covered in our guide to what a North Vancouver condo budget actually buys.
A $1,300,000 Lynn Valley townhome. $2,000 + $22,000 = $24,000. Too expensive for the first time buyer exemption. If it is newly built and it is your principal residence, the newly built home exemption is also out of reach at this price.
A $2,500,000 Edgemont detached. $2,000 + $36,000 + $15,000 = $53,000. No exemption applies. This is a real, unfinanceable line on the statement of adjustments, and it lands on the same day as your legal fees and your down payment. If you are shopping in this range, see what $2M buys in North Vancouver.
Where this hurts most is buyers who budgeted their down payment to the dollar and forgot the transfer tax existed. On the North Shore it routinely runs $25,000 to $55,000. It has to sit in your account, in cash, before completion, which is why it belongs on the same list as every other hidden cost of buying a home in North Vancouver.
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The Additional 2% Above $3 Million and the 20% Foreign Buyer Tax
Above $3 million an extra 2% applies to the residential portion, on top of the 3%, which is why the top marginal rate is 5%. A $4 million West Vancouver home therefore pays $2,000 + $36,000 + $30,000 + $50,000 = $118,000.
The additional 20% foreign buyer tax applies to foreign nationals, foreign corporations and taxable trustees buying residential property in five regions: Metro Vancouver, the Capital Regional District, the Fraser Valley, the Central Okanagan and the Regional District of Nanaimo. The whole North Shore is inside Metro Vancouver, so it applies here.
That 20% is charged on the full fair market value, not marginally. On a $2 million home it is an additional $400,000 on top of the $38,000 general tax. Permanent residents and Canadian citizens do not pay it, regardless of where they live or where the money came from. Separately, the federal ban on foreign purchases of residential property may block the purchase entirely, so status needs to be confirmed before an offer is written, not after. We set out the current position in whether foreign buyers can still purchase property in BC.
Are You Exempt? A 30 Second Check
First Time Home Buyers’ Exemption
- Full exemption on the first $500,000 of value if the price is $835,000 or less
- Partial exemption between $835,000 and $860,000
- You must be a Canadian citizen or permanent resident, have lived in BC for a year or filed two BC tax returns in the last six years, have never owned a principal residence anywhere in the world, and never used this exemption before
- Property must be your principal residence, 0.5 hectares or less
Newly Built Home Exemption
- Full exemption up to $1,100,000, partial between $1,100,000 and $1,150,000
- You must move in within 92 days and keep it as your principal residence for the first year
- No first time buyer requirement, so an existing owner can use it
Other common exemptions
- Transfers between spouses
- Transfers to a related individual of a principal residence
- Transfers resulting from a court order or separation agreement
The full list, including the paperwork each one needs, is in our guide to property transfer tax exemptions available in BC.
One catch buyers miss: if two people buy together and only one is a first time buyer, the exemption applies to that person’s share only. Half the exemption, not none. If you are early in the process, the other programs worth claiming at the same time are covered in who pays what as a first time buyer in BC.
Not sure which of these you land in, or whether a partial exemption changes what you can offer? Bring the numbers to Navid Hakimi before you write the offer. The difference between $835,000 and $836,000 on a first time purchase is thousands of dollars, and it is worth knowing before you set your price.
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Frequently Asked Questions
When do I pay property transfer tax?
On completion day. Your lawyer or notary collects it with your other closing funds and remits it when they register the transfer.
Can I add it to my mortgage?
No. Lenders do not finance it. It has to be cash you already have.
Is it charged on the purchase price or the assessed value?
On fair market value, which in an arm’s length sale is your purchase price. BC Assessment value is not used.
Do I pay it on a presale condo?
Yes, at completion, on the full price including upgrades. The newly built home exemption may apply if you are under $1.15 million.
Do first time buyers pay anything at $835,000?
No. Full exemption. Between $835,000 and $860,000 you pay a reduced amount, and above $860,000 you pay the full tax.
Is there GST as well?
On new construction, yes, 5% GST, with a partial rebate available under certain price thresholds. Resale homes are exempt from GST. See how GST applies to new homes in BC.
Does the foreign buyer tax apply to permanent residents?
No. Only to foreign nationals, foreign corporations and taxable trustees.
What if I buy with a family member who already owns a home?
The first time buyer exemption applies only to the qualifying buyer’s proportionate share.
Do I pay transfer tax on a leasehold property?
Yes, on the fair market value of the leasehold interest.
Can I get a refund if I qualified but did not claim it?
Yes, applications for a refund are generally accepted within 18 months of registration. Contact your notary or lawyer promptly.
Budgeting a North Shore Purchase? Get a Full Closing Cost Breakdown
Property transfer tax is the biggest closing cost, but it is not the only one. Legal fees, adjustments, GST on new builds, title insurance and moving costs all land in the same week, and buyers are surprised by the total more often than by the price of the house. It also sits on top of whatever you have set aside as a minimum down payment in BC, not inside it.
Navid Hakimi puts together a line by line closing cost estimate for North Shore buyers before they start writing offers, so the number you need on completion day is a number you already know. You can test your monthly side of it with the mortgage calculator first.
Ask for a free closing cost breakdown on any property you are considering, or book a full buyer consultation for the North Shore market.
Rates and exemption thresholds are current as of September 2026. Confirm with your notary or lawyer before completing.
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