First Time Home Buyer Property Transfer Tax Exemption raised from $475,000 to $500,000 for Qualified BC Residents
Posted on February 23, 2017 by Rick Persad
Fresh off the press today, is a change to the Property Transfer Tax waiver for First Time Home Buyers. The original limit for a full waiver was on a purchase price of $475k or less. The change announced earlier today will increase that limit to a $500k purchase price. You may still qualify for a partial exemption if the purchase is between $500k and $525k. This is effectively immediately! I'm sure this is welcomed news for some 1st-time buyers especially after the stress test qualification process announced late last year. Please don't hesitate to contact me at anytime if you have any real estate related questions.
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