What is the property tax rate in Toronto?

Toronto's residential property tax rate for 2026 is approximately 0.63% (6.30 per $1,000 of assessed value). This is one of the lowest rates in Ontario due to high property values.

Why is Toronto property tax so low?

Toronto has high property values, so a lower rate still generates significant tax revenue. A 0.63% rate on an $800,000 home equals $5,040, comparable to higher rates in cheaper cities.

How much is property tax on a $1 million home in Toronto?

At 0.63%, annual property tax on a $1 million assessed home in Toronto is approximately $6,300 ($525/month).

When is Toronto property tax due?

Toronto property tax is due in installments: interim bills (February/April) and final bills (June/August). Monthly pre-authorized payment plans are available.

Toronto Property Tax 2026 | Tax Rate & Calculator

Toronto Property Tax 2026

Toronto has one of the lowest property tax rates in Canada at approximately 0.63%.

Component	Details
Residential tax rate	0.63%
Per $1,000 assessed value	$6.30
Assessment authority	MPAC
Current assessment year	2016 values

Toronto Property Tax Calculator

Assessed Value	Annual Tax	Monthly
$500,000	$3,150	$263
$600,000	$3,780	$315
$700,000	$4,410	$368
$800,000	$5,040	$420
$900,000	$5,670	$473
$1,000,000	$6,300	$525
$1,250,000	$7,875	$656
$1,500,000	$9,450	$788
$2,000,000	$12,600	$1,050

Toronto vs Ontario Cities

City	Tax Rate	Tax on $600K	Difference
Toronto	0.63%	$3,780	—
Mississauga	0.77%	$4,620	+$840
Brampton	1.02%	$6,120	+$2,340
Hamilton	1.22%	$7,320	+$3,540
Ottawa	1.01%	$6,060	+$2,280
Windsor	1.78%	$10,680	+$6,900

Toronto Property Tax History

Year	Residential Rate	Change
2026	0.63%	+3.2%
2025	0.61%	+4.8%
2024	0.58%	+5.5%
2023	0.55%	+2.5%

Rates have been increasing above inflation in recent years

Toronto Tax Components

Your Toronto property tax funds:

Service	Approx. Share
City of Toronto	~55%
Toronto Transit (TTC)	~20%
Education	~15%
Other services	~10%

Assessment vs Market Value

	Details
Current assessment base	January 1, 2016
Assessment reassessment	Paused since 2016
Impact	Older homes may pay less than new purchases

A home bought in 2024 for $900,000 may still be assessed at its 2016 value of $600,000, resulting in lower taxes.

Toronto Property Tax Programs

Program	Eligibility
Low-income seniors	65+, qualify based on income
Persons with disabilities	Long-term disability
Property tax deferral	Seniors, low-income
Vacancy rebate	Commercial properties

Payment Options

Method	Details
Pre-authorized (PTP)	Monthly withdrawals
Installments	4-6 per year
Online/phone banking	Through your bank
In-person	City hall locations