First Time Home Buyers' Program
- Introduced in 1994, the First Time Home Buyers' Program is designed to help British Columbians purchase their first home.
- Under the program, eligible purchasers can claim an exemption from Property Transfer Tax if the fair market value of the home is less than the threshold amount.
- For registrations on, or after, February 20 2008, the fair market value threshold for eligible residential property is $425,000.
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- A proportional exemption is provided for eligible residences with a fair market value of up to $25,000 above the threshold (i.e. up to $450,000).