This provincial property transfer tax is calculated at :
- 1% of the purchase price up to and including $200,000
- 2% on the value above $200,000 and up to and including $2,000,000.
- 3% on the value greater than $2,000,000
If you are a first time homebuyer and your purchase price is less than $500,000, then you will be exempt from this tax.