Land registration tax which must be paid when an application for a taxable transaction is made at any Land Title Office in British Columbia to register changes to a certificate of title. Property Transfer Tax is payable on the fair market value of the property being transferred. If the fair market value is $200,000 or less, the tax is 1% of the fair market value. If the fair market value is greater than $200,000, the tax is 1% of the fair market value up to $200,000, plus 2% on the portion of the fair market value that is greater than $200,000. First-time buyers are exempt under certain conditions.

Source: British Columbia Minister of Finance.