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More good news for first-time home buyers: Limit for tax exemption increases

February 26th. 2017

One market has reduced land transfer taxes for first-time homebuyers.

It’s been a whirlwind few months for real estate in British Columbia, but the latest news will likely be viewed as a small victory by local mortgage brokers.

Effective Wednesday, Feb 22, 2017, the threshold for BC’s Property Transfer Tax exemption for first-time homebuyers has been increased to include homes up to $500,000 from $475,000.

For more information and advice on getting the best mortgage for you call us at 604-588-4466

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