Toronto’s residential property tax rate for 2026 is 0.767311% of assessed value: a city rate of 0.605295%, the provincial education rate of 0.153% and a City Building Fund levy of 0.009016%. The rate has risen since 2022 after a run of large budget increases. How the rate and assessed value combine, and how Toronto compares with other cities, is on the property tax in Canada page; the property tax calculator estimates any bill.
| Component | Details |
|---|---|
| Residential tax rate | 0.767311% |
| Per $1,000 of assessed value | $7.67 |
| Assessment authority | Municipal Property Assessment Corporation (MPAC) |
| Valuation date used for 2026 taxes | January 1, 2016 |
Toronto Property Tax by Assessed Value
| Assessed Value | Annual Tax | Monthly |
|---|---|---|
| $500,000 | $3,837 | $320 |
| $600,000 | $4,604 | $384 |
| $700,000 | $5,371 | $448 |
| $800,000 | $6,138 | $512 |
| $900,000 | $6,906 | $575 |
| $1,000,000 | $7,673 | $639 |
| $1,250,000 | $9,591 | $799 |
| $1,500,000 | $11,510 | $959 |
| $2,000,000 | $15,346 | $1,279 |
Calculated on MPAC assessed value, which may be lower than current market value.
Toronto Property Tax History
| Year | Total Residential Rate | Approved Increase (City + Building Fund) |
|---|---|---|
| 2026 | 0.767311% | +2.2% |
| 2025 | 0.754087% | +6.9% |
| 2024 | 0.715289% | +9.5% |
| 2023 | 0.666274% | +7.0% |
| 2022 | 0.631933% | +2.9% |
Source: City of Toronto property tax rates by year. The 2024 increase (+9.5%) was the largest single-year increase since Toronto’s 1998 amalgamation, driven by a multi-billion-dollar budget shortfall; 2023 and 2025 also saw well-above-inflation increases before the 2026 budget slowed to a 2.2% combined increase.
What Toronto Property Tax Funds
| Service | Approx. Share |
|---|---|
| City of Toronto general | ~55% |
| Toronto Transit Commission (TTC) | ~20% |
| Toronto District School Board (education) | ~15% |
| Police, fire, EMS | Included in city share |
| Shelter, housing, social services | Included in city share |
Assessment
MPAC assesses every Toronto property, and 2026 taxes still use values as of January 1, 2016. So a home bought for $1,200,000 in 2022 but assessed at $700,000 pays $5,371 a year at the current rate, not the $9,208 the purchase price would produce. The valuation date and how to challenge an assessment are covered in appealing your property assessment.
Toronto Property Tax Programs
| Program | Who Qualifies | Benefit |
|---|---|---|
| Senior homeowner tax increase cancellation | 65+, low income | Freeze tax at prior year level |
| Disability tax increase cancellation | Low-income persons with disabilities | Freeze tax at prior year level |
| Senior and disability tax deferral | 65+, combined household income under threshold | Defer taxes as lien; repaid on sale |
| Tax rebate for charities | Registered charities | 40% rebate of taxes paid |
Provincial and other cities’ relief programs are summarised under property tax relief programs.
Paying Toronto Property Tax
| Method | Details |
|---|---|
| Pre-authorized Tax Payment (PTP) | Monthly withdrawals; enroll at toronto.ca |
| Instalments | 4–6 bills per year (February, April, June, August) |
| Online or phone banking | Add “Toronto Property Tax” as a payee using your roll number |
| In person | Service Toronto locations |
Monthly pre-authorized amounts are adjusted mid-year when the final rate is set. If a payment is missed, penalties and interest apply: see what happens if you don’t pay property tax.
Mississauga and Brampton, next door in Peel Region, set their own rates: see Mississauga property tax and Brampton property tax. Buying in Toronto also means paying the city’s municipal land transfer tax on top of the provincial land transfer tax.
Sources
The figures and rules on this page come from these sources, last checked against them between September 24, 2026 and September 25, 2026. How we check facts.
- BC Laws: Assessment Act
- City of Toronto: Property Tax Rates & Fees – City of Toronto
- MPAC: Request for Reconsideration (RfR)
- Tribunals Ontario: Filing an Appeal - Tribunals Ontario