The general property transfer tax rate is:

• 1% of the fair market value up to and including $200,000.
• 2% of the fair market value greater than $200,000 and up to and including $2,000,000.
• 3% of the fair market value greater than $2,000,000.
• If the property has residential property worth over $3,000,000, a further 2% tax will be applied to the residential property value greater than $3,000,000.