What's New
Property Taxes Section - 2005

Each time we change the information on our website, we record that change on this page. This lets you see at a glance what changes have been made.

You will need Acrobat Reader installed on your computer to view some of these files, which are in PDF. Acrobat Reader is available as a free download for use on your personal or office computer.

Select a month:

[Dec] [Nov] [Oct] [Sept] [Aug] [July] [June] [May] [April] [Mar] [Feb] [Jan]

November 29, 2005:

Bulletin PTT 003, Exemptions Generally, has been revised and now includes additional information on joint tenancy in the marriage breakdown section, and changes to the exemption code for transferring tenancy in common to joint tenancy.

November 10, 2005:

The First Time Home Buyers' Information Sheet has been changed. The wording of the first exemption under the heading "Moving in", as well as the wording of the allowable limit for mortgage payments, has been clarified.

November 3, 2005:

Bulletin PTT 001, Property Transfer Tax Generally, has been revised and is now easier to read, including clarification that BC Assessment bases their open market value on the estimated amount as at July 1.

October 26, 2005:

First Time Home Buyers' Information Sheet

The information sheet, First Time Home Buyers' Exemption, gives a general, easy-to-read introduction to the exemption. For complete program details, please see the First Time Home Buyers' Guide and Bulletin PTT 004, First Time Home Buyers' Program.

September 28, 2005:

Property Tax Overdue Notices Mailed

Property Tax Overdue Notices have been mailed to owners of rural British Columbia properties with outstanding account balances. The deadline for payment without incurring the second legislated penalty of five per cent is October 31st.

Property owners who have not paid their property taxes should ensure payment is received by October 31st to avoid this penalty charge. For further information, please contact the Property Taxation Branch at 250-387-0555. For toll-free calls contact Enquiry BC at
604-660-2421 from Vancouver or 1-800-663-7867 from elsewhere in British Columbia and request a transfer to 387-0555. You can also contact your local Service BC - Government Agent office.

If you are a new owner or have recently moved, there are delays between the time you advise the Land Title Office or BC Assessment and when we receive the update. It is important that you advise us of changes. To confirm that your property taxes have been paid, contact the Property Taxation Branch or your local Service BC - Government Agent office as noted above.

Property Tax Deferment Interest Rate

Effective October 1, 2005, interest charged to deferees under the Property Tax Deferment Program will be at the rate of 2.25 per cent. For more information, please see the Property Tax Deferment interest rates or contact the Tax Deferment Administrator at
250-356-6537.

New Bulletin

Bulletin PTT 026, Exemptions to Minors for Transfers to and from the Public Guardian and Trustee, is a new bulletin that explains the requirements that must be met in order to transfer property exempt of the property transfer tax when the transfer is for a minor.

September 6, 2005:

Two bulletins, PTT 008, Exemptions for Transferring a Family Farm, and PTT 009, Exemptions for Transfers to and from a Family Farm Corporation, have been revised to reflect that the exemptions are available to other specific people in addition to related individuals.

June 6, 2005:

Bulletin PTT 004, First Time Home Buyers' Program, has been updated and now has new, clearer, examples on how to calculate exemptions.

June 1, 2005:

The Land Title and Survey Authority of British Columbia has been established to manage, operate, and maintain the land title and survey systems in British Columbia. Bulletin PTT 001, Property Transfer Tax Generally, is updated to advise that cheques or money orders are now payable to the Land Title and Survey Authority of British Columbia when registering a transaction (previously payable to the Minister of Finance).

March 31, 2005:

Property Tax Deferment Interest Rate

Effective April 1, 2005, interest charged to deferees under the Property Tax Deferment Program will be at the rate of 2.0 per cent. For more information, please see the Property Tax Deferment interest rates or contact the Tax Deferment Administrator at
250-356-6537.

February 15, 2005:

Provincial Budget Amendments to Tax Acts – Summary

Health Authorities Act

Amendments to the Act clarify the Property Tax exemptions that apply to public hospitals, whether managed by a regional health board, or a public-private partnership.

Home Owner Grant Act

Amendments to the Act include an increase to the Home Owner Grant threshold, and a reduction in the phase-out rate. Partial grants will be available for properties with assessed values between $685,000 and $779,000. The Additional Home Owner Grant includes a partial grant for properties with an assessed value of up to $834,000.

School Act

Eligible hydroelectric power producers may qualify for an exemption from School Tax on specified improvements.

Property Transfer Tax Act

Threshold requirements for the First Time Home Buyers' Program are increased, and mortgage paydown requirements are also increased.

The electronic First Time Home Buyers' Property Transfer Tax Return, used by lawyers and notaries filing electronically, has been revised to calculate based on the new requirements.

January 5, 2005:

The provincial government has announced its intention to introduce legislation in the February 2005 Budget that will increase the threshold for the Home Owner Grant. Please see the news release for more information.

If you subscribe to our update service, we will automatically e-mail you a link every time this section is updated. This will ensure you have up-to-date information without you having to remember to check our site.