Posted by & filed under BC Real Estate Update, Blog Post, Buying a Home, Victoria Real Estate Info.

The British Columbia provincial government has announced changes to the Property Transfer Tax First Time Home Buyers’ Program as part of the 2014 Provincial Budget. There is now a full Property Transfer Tax exemption for qualifying first time home buyers where the fair market value of the property is $475,000 or less and there is a partial exemption where the fair market value of the property is between $475,000 and $500,000. These changes are effective February 19, 2014.

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