If you haven’t already heard, here’s some very exciting news about Property Transfer Tax Exemptions in BC. Effective April 1, 2024, the first-time home buyers’ exemption threshold has been increased so that eligible first-time home buyers are exempt from the tax if they buy a home with a fair market value of up to $835,000. This is an increase from the previous threshold of $500,000. The exemption applies to the first $500,000, with a phase-out range of $25,000 above the threshold. The exemption is completely eliminated at $860,000.