Property Transfer Tax in BC is generally calculated as:

Question: Property Transfer Tax in BC is generally calculated as:

Answer options: ✅ 1% on first $200k, 2% on $200k–$2M, 3% above $2M (residential 5% over $3M)

• Flat 1.5%
• Flat 2% of purchase price
• Based on land area

Correct answer: 1% on first $200k, 2% on $200k–$2M, 3% above $2M (residential 5% over $3M)

Explanation: Standard PTT tiers apply; an additional 2% applies on residential value over $3M.