Toronto Property Tax Calculator

Understanding Toronto Property Taxes

Toronto has one of the lowest residential property tax rates in Ontario at approximately 0.63%, but this figure is deceptive. Because assessed property values in Toronto are significantly higher than in other Ontario municipalities, the actual dollar amount of property tax paid can be substantial. A home assessed at $1,000,000 pays roughly $6,300 annually — comparable to cities with much higher rates but lower property values. The rate is set annually by Toronto City Council as part of the municipal budget process.

Toronto homebuyers also face the Municipal Land Transfer Tax (MLTT) — a tax charged on top of the Ontario provincial land transfer tax. Toronto is the only municipality in Ontario that levies its own LTT, effectively doubling the land transfer tax for buyers. First-time homebuyers may qualify for a rebate of up to $4,475 on the MLTT. Combined with the provincial first-time buyer rebate of up to $4,000, eligible purchasers can save up to $8,475 in land transfer taxes.

Toronto Property Tax vs. Other Ontario Cities (2026)

Property assessments in Toronto are conducted by the Municipal Property Assessment Corporation (MPAC) and are based on market value as of a specific valuation date. Homeowners who believe their assessment is incorrect can file a Request for Reconsideration with MPAC at no cost. Toronto property tax bills are issued twice yearly, with an interim bill in January and a final bill in May or June.