Property Transfer Tax (PTT) was first introduced in 1987; *"it was touted as a wealth tax that would discourage speculation at the high end of the real estate market."* That same year, 95% of homes sold were under $200,000...the average price was $138,205 which would mean you paid $764 in PTT. Nowadays, the average home sells for $689,366 which means you pay $11,787 in PTT. One way you can help to get the message to the Victoria is to go to: www.facebook.com/rebgv and like the "Help Reduce the PTT" button.
*Vancouver Sun excerpt*