Property Transfer Tax

Buyers in most areas will have to add Land Transfer Taxes to their closing costs

Land transfer taxes are a part of the process unless you live in Alberta, Saskatchewan, or rural Nova Scotia. These taxes, levied on properties that are changing hands, are the responsibility of the buyer. Depending on where you live, taxes can range from a half a per cent to two per cent of the total value of the property.

Many provinces have multi-tiered taxation systems that can sometimes be difficult to understand. If you buy a property for $260,000 in Ontario, for example, .5 per cent is charged on the first $55,000, 1 per cent is charged on $55,000 - $250,000, while the $250,000 - $400,000 range is taxed at 1.5 per cent. Your total tax bill? $2,375.00.

The following chart illustrates Land Transfer Taxes by province:

British Columbia

Up to $200,000 X 1 % of total property value
From $200,000 up X 2 % of total property value

Get In Touch

Christy Laniado

Mobile: 604-349-0098

Phone: 604-925-2911

Fax: 604-926-9199

Email

Office Info

Royal LePage Sussex

2397 Marine Drive  West Vancouver,  BC  V7V 1K9 

Stay Connected