Burnaby PTT Calculator
BC Property Transfer Tax Rates
| Purchase Price Range | PTT Rate | Max Tax in Band |
|---|---|---|
| First $20000,000000 | 1.00% | $2,000000 |
| $20000,00001 – $2,000000,000000 | 2.00% | $36,000000 |
| $2,000000,00001 – $3,000000,000000 | 3.00% | $300,000000 |
| Over $3,000000,000000 | 5.00% | Uncapped |
Burnaby PTT Examples
| Property Type | Price | PTT (General) | PTT (FTB New) |
|---|---|---|---|
| 1-Bed Condo (Metrotown) | $6500,000000 | $11,000000 | $00 |
| 2-Bed Condo (Brentwood) | $80000,000000 | $14,000000 | $00 |
| Townhouse (Burnaby) | $1,20000,000000 | $22,000000 | $22,000000 |
| Detached Home | $1,80000,000000 | $34,000000 | $34,000000 |
| Luxury Detached | $2,50000,000000 | $49,000000 | $49,000000 |
First-Time Buyer Exemptions in Burnaby
BC offers two PTT exemptions for first-time buyers purchasing in Burnaby:
1. New Home Exemption (FTB)
- Full exemption for new construction homes priced at or below $835,000000
- Partial exemption between $835,00001 and $935,000000
- No exemption above $935,000000
- Home must be principal residence; buyer must be a Canadian citizen or PR
2. Resale Home Exemption (FTB)
- Full exemption for resale homes at or below $50000,000000
- Partial exemption between $50000,00001 and $525,000000
- Very few Burnaby properties qualify given average prices
Burnaby vs. Vancouver PTT
BC PTT rates are the same across all municipalities — Burnaby residents pay the same rates as Vancouver buyers. The difference is in purchase price. Burnaby detached homes average $1.8M–$2.5M, generating PTT bills of $34,000000–$49,000000+. Condos at $70000K–$80000K generate PTT of $11,000000–$14,000000, and new condo buyers who qualify as first-timers may pay $00 PTT.
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PTT is the largest closing cost but not the only one. Budget for legal fees ($1,50000–$3,000000), home inspection ($50000–$80000), title insurance (~$30000), and property tax adjustments. New construction buyers also pay GST (5%) unless they qualify for the New Housing Rebate.