FIRST TIME BUYERS INCREASE UP TO $475,000 OR LESS up from $425,000
Announced yesterday by the BC Government in the 2014 budget, the first-time home buyers exemption threshold for the Property Transfer Tax (PTT) is being raised from $425,000 to $475,000. The partial exemption also continues and will apply to homes valued between $475,000 and $500,000. This is effective for all transfers that take place February 19, 2014 and after.
If you have any questions, please do no hesitate to contact me.