The future is looking quite splendid for BC home owners. Premier Christy Clark mentioned that in the next few years, the Property Transfer Tax could be reduced or eliminated. The Property Transfer Tax is based on the fair market value of the property. There are a few different transactions that are currently taxable through this levy, including lease modification agreements, foreclosures and the right to purchase or agreement for sale. This real estate incentive all depends on where the provincial debt will be standing. For more information on this possible real estate change click here.