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VICTORIA,BC – The provincial budget announcement yesterday contained some welcome relief for first-time buyers.


Effective today, the Property Transfer Tax (PTT) exemption threshold for first-time buyers will increase from $425,000 to $475,000. According to the government’s own calculations, this measure will benefit about 1,700 additional first-time buyers by providing them with a potential tax savings of up to $7,500.


MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.