The Provincial Government finally gave us a break on the dreaded property transfer tax. Now, if you buy a new home and you’re going to make it your principal residence by living in it for at least 1 year, you don’t have to pay property transfer tax if the home is under $750,000. That’s a savings of up to $13,000.00. However, they raised the PTT on homes priced over 2 million. Buyers of those homes will now pay 3% PTT instead of the previous 2%.