BC property taxes, explained

1. 1

   When you buy

   Property transfer tax

   Paid once, at completion: 1% on the first $200,000, 2% on the portion to $2,000,000, and 3% above that, with a further 2% on residential value over $3,000,000. A first-time buyer who qualifies pays no transfer tax on the first $500,000, saving up to $8,000, on a home priced up to $835,000. The saving shrinks between $835,000 and $860,000 and ends above that.

   Worked example

   A $800,000 resale home: $14,000 in transfer tax, or $6,000 for an eligible first-time buyer. Newly built at the same price, an eligible buyer pays $0.

   Transfer tax at three prices

   Purchase price	Transfer tax
   $500,000	$8,000
   $1,000,000	$18,000
   $2,000,000	$38,000

   See cash to close in your city
2. 2

   While you own

   Speculation and vacancy tax

   A yearly tax on empty homes in designated areas. Living in it or renting it out removes it. Every owner still files a yearly declaration.

   Worked example

   A condo in a designated area, assessed at $800,000, empty all of 2026 and owned by a Canadian citizen who lives in Alberta: 1%, or $8,000. A BC resident owner could claim up to $4,000 of credit against it.

   Speculation and vacancy tax on an empty home, 2026

   Assessed value	Citizen or PR, 1%	Foreign owner, 3%
   $800,000	$8,000	$24,000
   $1,200,000	$12,000	$36,000
   $2,000,000	$20,000	$60,000

   BC residents can claim a credit of up to $4,000. In 2027 the foreign rate becomes 4%.

   Check if you owe the speculation and vacancy tax

   Every year: municipal property tax by city

   Your assessed value times the combined rate per $1,000, for 2026. The home owner grant is not included.

   Residential property tax rates by municipality

   Municipality	City levy per $1,000	Combined per $1,000	Tax on $1,000,000	Source
   Vancouver*	1.9341	3.3627	$3,363	BC Schedule 702, 20262026, read 2026-10-06
   Surrey*	1.8425	3.4273	$3,427	surrey.ca2026, read 2026-10-06
   Burnaby	1.7222	3.2837	$3,284	burnaby.ca2026, read 2026-10-06
   Richmond*	1.9499	3.5384	$3,538	Richmond Bylaw 7888, 20262026, read 2026-10-06
   Abbotsford*	2.8658	4.5207	$4,521	Abbotsford Bylaw 3727-20262026, read 2026-10-06
   Coquitlam	2.2756	3.8520	$3,852	coquitlam.ca2026, read 2026-10-06
   Township of Langley	2.0054	3.6169	$3,617	tol.ca2026, read 2026-10-06
   Delta*	2.4065	3.9578	$3,958	delta.ca2026, read 2026-10-06
   District of North Vancouver	1.8342	3.2820	$3,282	dnv.org2026, read 2026-10-06
   Maple Ridge*	2.8643	4.5358	$4,536	Maple Ridge Bylaw 8099-20262026, read 2026-10-06
   Chilliwack*	3.0094	4.6673	$4,667	chilliwack.com2026, read 2026-10-06
   New Westminster	3.1039	4.7931	$4,793	newwestcity.ca2026, read 2026-10-06
   Port Coquitlam*	2.1985	3.7754	$3,775	Port Coquitlam Bylaw 44412026, read 2026-10-06
   City of North Vancouver*	1.8920	3.4769	$3,477	CNV Bylaw 91502026, read 2026-10-06
   West Vancouver*	1.8728	3.2387	$3,239	BC Schedule 702, 20262026, read 2026-10-06
   Mission	2.9856	4.4369	$4,437	mission.ca2026, read 2026-10-06
   Port Moody	2.7132	4.2912	$4,291	portmoody.ca2026, read 2026-10-06
   Langley City	2.5937	4.2067	$4,207	langleycity.ca2026, read 2026-10-06
   White Rock*	2.6376	4.3190	$4,319	White Rock Bylaw 25812026, read 2026-10-06
   Pitt Meadows*	2.9520	4.6220	$4,622	Pitt Meadows Bylaw 30472026, read 2026-10-06

   • Vancouver: Municipal site could not be read; figures are from the Province’s 2026 Schedule 702 tax-rate return for this municipality.
   • Surrey: Municipal figure is the general levy plus the roads and traffic levy.
   • Richmond: Total rate from the Province’s 2026 Schedule 702.
   • Abbotsford: Municipal figure excludes the Fraser Valley Regional Library levy; total rate from the Province’s 2026 Schedule 702.
   • Delta: Excludes the land-only drainage levy.
   • Maple Ridge: Total rate from the Province’s 2026 Schedule 702.
   • Chilliwack: Total shown is the improvements rate.
   • Port Coquitlam: Total rate from the Province’s 2026 Schedule 702.
   • City of North Vancouver: Municipal figure excludes the drainage and eco levies; total rate from the Province’s 2026 Schedule 702.
   • West Vancouver: Municipal site could not be read; figures are from the Province’s 2026 Schedule 702 tax-rate return for this municipality.
   • White Rock: Municipal figure excludes the library levy; total rate from the Province’s 2026 Schedule 702.
   • Pitt Meadows: Total rate from the Province’s 2026 Schedule 702.

   Work it against your assessment

   Type the assessed value from your BC Assessment notice and pick the municipality.

   ASSESSED VALUE

   MUNICIPALITYVancouverSurreyBurnabyRichmondAbbotsfordCoquitlamTownship of LangleyDeltaDistrict of North VancouverMaple RidgeChilliwackNew WestminsterPort CoquitlamCity of North VancouverWest VancouverMissionPort MoodyLangley CityWhite RockPitt Meadows

   2026 property tax, all taxing authorities, before the home owner grant

   $4,035

   Of which $2,321 is the municipal share at 1.9341 per $1,000.

3. 3

   When you sell

   Capital gains and the home flipping tax

   No tax on a principal residence. A home sold within 730 days can owe the flipping tax, up to 20% of the profit.

   Worked example

   A home sold within 365 days of buying it, with $100,000 of profit: $20,000 in BC home flipping tax. Held 730 days or more, there is none. A home that was your principal residence every year usually owes no capital gains.

   The exemption does most of the work

   A home that was your principal residence for every year you owned it is generally exempt from capital gains tax when you sell. That is why most people selling the home they live in owe nothing, and why this only gets complicated when the property was something else for part of the time.

   It gets complicated when the use changed

   A basement suite you rented out, years spent as a rental before you moved in, a cabin you also claimed, or a stretch living abroad all reduce the share of years that qualify. The exemption is prorated across the years it applies to rather than lost outright.

   Only part of a taxable gain is taxed

   Where a gain is taxable, a portion of it is included in your income and taxed at your marginal rate, rather than the whole gain being taxed. The inclusion rate is federal and has changed more than once, so confirm the rate for the year you actually sell.

   Your cost base is more than the price you paid

   Legal fees, the transfer tax you paid on the way in, commission on the way out, and capital improvements all raise your adjusted cost base and lower the gain. Ordinary repairs do not. Keep the receipts: reconstructing twenty years of renovations after the fact is the expensive way to do this.

   Every sale gets reported

   Even a fully exempt sale of a principal residence has to be reported on your return for that year. Not reporting it is what turns a non-event into a penalty.

   See the home flipping tax by days held

Provincial rates verified against gov.bc.ca on 2026-10-06. Municipal rates are from each city's 2026 rates. Not tax or legal advice.