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.
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).