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Property Transfer Tax

Property Transfer Tax

Effective for registrations on and after February 19, 2014 (tomorrow), the Property Transfer Tax exemption threshold under the First Time Home Buyers’ Program is increased to $475,000 from $425,000, with the partial exemption/phase out applying between $475,000 and $500,000.

The government estimates that approximately 1,700 first-time buyers will benefit this year, saving an average of $4,000 at a cost to government estimated at $8 million. 

For more information on Okanagan Real Estate, please contact:
Alexandra Axsen
Owner/Managing Broker
Lake Okanagan Realty
Tel: 250.870.2792
Fax: 778.484.5252
506 Doyle Avenue
Kelowna, BC V1Y 6V8
Alex@LakeOkanaganRealty.com
www.LakeOkanaganRealty.com 

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