Property Transfer Tax and Rebate
Cortney Lessard - Vancouver Real Estate Blog
Property Transfer Tax
Home buyers in BC can expect to pay a provincial Property Transfer tax when buying a home. The rate charged is 1 per cent on the first $200,000 of the purchase price and 1 per cent on the remainder. However, first-time home buyers may qualify for a complete exemption from this tax if buying a home with a max purchase price of $425,000. They also qualify for a partial exemption on homes priced up to $450,000. In order to qualify, these first-time home buyers must not have previously owned a home anywhere in the world. For more information on closing costs click here, or e-mail me if you have more questions: Cortney@Cortney.ca
Cortney Lessard
604-616-2678
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