At open houses I often meet home buyers who want to know how to calculate PTT.
PTT is the Property Transfer Tax, a tax payable to the BC Provincial Government by purchasers of real estate. The tax applies to all types of real estate, whether residential, commercial or industrial.
How is PPT calculated?
This is not a calculation I can do in my head. I will share how it is currently calculated and then offer you a link to an online calculator to make it really easy for you to calculate in the future.
At this time (May 22, 2025) the amount of the Property Transfer Tax is 1% on the first $200,000.00 of the property’s fair market value, 2% on the amount between $200,000 and $2,000,000, and 3% on the amount between $2,000,000 and $3,000,000, and 5% of the remaining fair market value. (source: BC real estate lawyers)
Go here for the calculator and test it out.
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Sincerely,
David Hennessey
REALTOR®
eXp Realty
604 626 8903
