There are several conditions that would allow you to be exempt from this tax. If the property is residential, a further 2% on the portion greater than $3,000,000.3% on the balance greater than $2,000,000.2% on the balance up to and including $2,000,000.British ColumbiaīC requires its home buyers to pay a Property Transfer Tax (PTT) when purchasing a new home. Ontario offers a land transfer tax refund of up to $4,000 for first-time home buyers. Land Transfer Taxes for Other Provinces Ontario Lowest rates are for high-ratio mortgages (LTV > 80%).
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