BC Real Estate Grants and ProgramsBC省房地产补助与计划

Grants and programs at a glance

Program 1

BC Home Owner Grant

A yearly grant that reduces the property tax on your principal residence. You must claim it every year.

• Who qualifies: owners who live in the home as their principal residence and are Canadian citizens or permanent residents living in BC.
• Additional grant: for people 65 or older, veterans, people with disabilities, and those living with a spouse or relative with a disability.
• Value limit: the full grant is available if the assessed value is $2,075,000 or less. Above that, the grant drops by $5 for every $1,000. The regular grant ends at $2,189,000 and the additional grant at $2,244,000 (in Metro Vancouver, Fraser Valley and Capital Region).
• Seniors with low incomes may qualify for a supplement even above the limit.
• How to claim: online with the province or through your municipality, before your property tax due date (early July in many cities, such as July 3, 2026 in Vancouver and Burnaby). Late claims may carry a penalty.

Program 2

Property transfer tax exemptions

• First-time buyers: no tax on the first $500,000, saving up to $8,000. Homes of $835,000 or less qualify fully. The exemption phases out to zero at $860,000.
• Newly built homes: fully exempt up to $1,100,000, phasing out at $1,150,000. You do not have to be a first-time buyer.
• Requirements: Canadian citizen or permanent resident, and you move in as your principal residence. The first-time program also needs 12 months of BC residency and no previous home ownership anywhere in the world.

See the full rates and our calculator on the Real Estate Tax page.

Program 3

Federal first-time buyer help

• First-time buyer GST relief: full relief on new homes up to $1,000,000 (up to $50,000), partial up to $1,500,000. For agreements signed from March 20, 2025.
• First Home Savings Account (FHSA): contribute up to $8,000 a year, $40,000 lifetime. Contributions are tax-deductible and withdrawals for a first home are tax-free. Unused room can be carried forward, up to $8,000.
• RRSP Home Buyers' Plan: withdraw up to $60,000 each (a couple can use $120,000) and repay over 15 years, after a grace period.
• First-Time Home Buyers' Tax Credit: a $1,500 non-refundable federal credit, claimed on your tax return.
• Mortgage rules: 30-year amortization on insured mortgages for first-time buyers and new builds.

Program 4

Property tax deferment

If paying your yearly property tax is hard, the province lets some owners defer it as a low-cost loan secured against the home.

• Regular program: for owners 55 or older, surviving spouses and people with disabilities.
• Families with children program: for owners with children under 18 living at home.
• Interest: interest is now prime plus 2%, compounded monthly, for new deferments, so compare it with other borrowing.
• You must live in the home as your principal residence and keep enough equity in it.
• Renters: low and moderate income renters may claim BC's $400 renter's tax credit. See our Tenancy Rules page.

Example

Stacking programs: a first-time buyer of a new condo

You normally use the new home exemption or the first-time buyer exemption on one purchase, not both. Your lawyer and the CRA will confirm what applies. Savings from the FHSA and Home Buyers' Plan come on top.