UPDATE November 12, 2021: Changes to PTT return will be in effect on November 21.
Effective November 14, 2021, the ‘Property Value Information’ fields of the Property Transfer Tax (PTT) form will require completion only if the additional property transfer tax, the further tax on residential properties over $3,000,000, and/or certain exemptions apply.
Fair market value of the property will still be required for all taxable transactions in the ‘Property Description’ section of the form.