Newly built home exemption amounts
Last updated on April 9, 2024If you qualify for the newly built home exemption, the amount of property transfer tax you pay depends on the fair market value of the property.
If the fair market value of your property is more than $750,000 and less than $800,000, you may qualify for a partial exemption (more than $1,100,000 and less than $1,150,000 if you register title on or after April 1, 2024).
Below is the amount of tax payable if 100% of the property transfer is eligible for the newly built home exemption (if title is registered before April 1, 2024).
|
Fair market value |
Exemption amount |
Tax payable |
|---|---|---|
| Less than $750,000.00 | Full amount of tax normally due | $0 |
| $750,000.00 | $13,000.00 | $0 |
| $751,000.00 | $12,759.60 | $260.40 |
| $752,000.00 | $12,518.40 | $521.60 |
| $753,000.00 | $12,276.40 | $783.60 |
| $754,000.00 | $12,033.60 | $1,046.40 |
| $755,000.00 | $11,790.00 | $1,310.00 |
| $756,000.00 | $11,545.60 | $1,574.40 |
| $757,000.00 | $11,300.40 | $1,839.60 |
| $758,000.00 | $11,054.40 | $2,105.60 |
| $759,000.00 | $10,807.60 | $2,372.40 |
| $760,000.00 | $10,560.00 | $2,640.00 |
| $761,000.00 | $10,311.60 | $2,908.40 |
| $762,000.00 | $10,062.40 | $3,177.60 |
| $763,000.00 | $9,812.40 | $3,447.60 |
| $764,000.00 | $9,561.60 | $3,718.40 |
| $765,000.00 | $9,310.00 | $3,990.00 |
| $766,000.00 | $9,057.60 | $4,262.40 |
| $767,000.00 | $8,804.40 | $4,535.60 |
| $768,000.00 | $8,550.40 | $4,809.60 |
| $769,000.00 | $8,295.60 | $5,084.40 |
| $770,000.00 | $8,040.00 | $5,360.00 |
| $771,000.00 | $7,783.60 | $5,636.40 |
| $772,000.00 | $7,526.40 | $5,913.60 |
| $773,000.00 | $7,268.40 | $6,191.60 |
| $774,000.00 | $7,009.60 | $6,470.40 |
| $775,000.00 | $6,750.00 | $6,750.00 |
| $776,000.00 | $6,489.60 | $7,030.40 |
| $777,000.00 | $6,228.40 | $7,311.60 |
| $778,000.00 | $5,966.40 | $7,593.60 |
| $779,000.00 | $5,703.60 | $7,876.40 |
| $780,000.00 | $5,440.00 | $8160.00 |
| $781,000.00 | $5,175.60 | $8,444.40 |
| $782,000.00 | $4,910.40 | $8,729.60 |
| $783,000.00 | $4,644.40 | $9,015.60 |
| $784,000.00 | $4,377.60 | $9,302.40 |
| $785,000.00 | $4,110.00 | $9,590.00 |
| $786,000.00 | $3,841.60 | $9,878.40 |
| $787,000.00 | $3,572.40 | $10,167.60 |
| $788,000.00 | $3,302.40 | $10,457.60 |
| $789,000.00 | $3,031.60 | $10,748.40 |
| $790,000.00 | $2,760.00 | $11,040.00 |
| $791,000.00 | $2,487.60 | $11,332.40 |
| $792,000.00 | $2,214.40 | $11,625.60 |
| $793,000.00 | $1,940.40 | $11,919.60 |
| $794,000.00 | $1,665.60 | $12,214.40 |
| $795,000.00 | $1,390.00 | $12,510.00 |
| $796,000.00 | $1,113.60 | $12,806.40 |
| $797,000.00 | $836.40 | $13,103.60 |
| $798,000.00 | $558.40 | $13,401.60 |
| $799,000.00 | $279.60 | $13,700.40 |
| $800,000.00 | $0 | $14,000.00 |