Updates to property taxes
Last updated on February 10, 2025Not subscribed for tax updates yet? Sign up here.
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Home owner grant
January 2, 2025
The home owner grant threshold update for 2025 is increased to $2.175 million. This new threshold ensures the same percentage of British Columbia homes are below the threshold compared to 2024.
See previous years in Archived tax updates.
Property tax deferment
January 1, 2025
Property tax deferment information has been updated. Applications are currently closed and will open again in May for the 2025 tax year.
See previous years in Archived tax updates.
Property transfer tax
February 10, 2025
FIN 265, First Time Home Buyers' Application for Refund (PDF, 328KB), has been revised to:
- Direct taxpayers to the First time home buyers' program for further information about the program
- Standardize the certification wording
FIN 272, Newly Built Home Application For Refund (PDF, 285KB), and FIN 274, Additional Property Transfer Tax Application for Refund (PDF, 449KB), have been revised to standardize the certification wording.
January 17, 2025
A new version (Version 38) of the property transfer tax (PTT) web-based return has been introduced. To learn about the features of the new version, see the Property transfer tax page.
January 7, 2025
The property tax exemptions pages have been updated to include new definitions and exemption codes related to exemptions on Reserve lands.
See previous years in Archived tax updates.