What is the property tax rate in Toronto?

Toronto's residential property tax rate for 2026 is approximately 0.63% of assessed value — one of the lowest rates in Ontario due to the city's high property values.

Why is Toronto property tax rate so low compared to other Ontario cities?

Toronto has the highest average property values in Ontario. A lower rate still generates substantial revenue per home. A 0.63% rate on a $900,000 Toronto home ($5,670) produces similar tax revenue to a 1.01% rate on a $560,000 Ottawa home ($5,656). The rate and the value work inversely across 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 billed in two cycles: interim bills due in February and April (based on 50% of the prior year), and final bills due in June and August (adjusted for the current year rate). Monthly pre-authorized plans are available year-round.

Why is my Toronto assessed value lower than what I paid for my home?

MPAC (Municipal Property Assessment Corporation) assessments in Ontario have been frozen at January 1, 2016 values since the province paused the scheduled reassessment. A home you bought in 2023 for $1.1 million may still be assessed at its 2016 value of $650,000, resulting in a lower tax bill. When the province eventually updates assessments, many homeowners will see a significant increase.

Does Toronto have a property tax rebate for seniors?

Yes. Toronto offers a property tax increase cancellation program for low-income seniors (65+) and low-income persons with disabilities, freezing their tax at a prior year level. A separate deferral program allows eligible seniors to defer current-year taxes as a lien on the property, repaid when the home is sold.

How do I appeal my Toronto property assessment?

Toronto property assessments are handled by MPAC, not the City. If your assessment is too high, you can request a free reconsideration from MPAC within 120 days of receiving your assessment notice. If unresolved, you can file a formal appeal with the Assessment Review Board (ARB) for $125. Grounds include factual errors or comparable properties that support a lower value.

Toronto Property Tax 2026 | Tax Rate & Calculator

Toronto Property Tax 2026

Toronto has one of the lowest residential property tax rates in Canada at approximately 0.63%. The low rate reflects the city’s high property values — a lower percentage is needed to generate sufficient municipal revenue. Despite the low rate, Toronto homeowners with average homes still pay $5,000–$8,000+ annually due to high assessed values.

Component	Details
Residential tax rate	~0.63%
Per $1,000 assessed value	$6.30
Assessment authority	MPAC (Municipal Property Assessment Corporation)
Current assessment base	January 1, 2016 (frozen)

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

Calculated on MPAC assessed value, which is frozen at 2016 values and may be lower than current market value.

Toronto vs Ontario Cities

City	Tax Rate	Tax on $700K	Tax on $1M
Toronto	0.63%	$4,410	$6,300
Mississauga	0.77%	$5,390	$7,700
Ottawa	1.01%	$7,070	$10,100
Brampton	1.02%	$7,140	$10,200
Hamilton	1.22%	$8,540	$12,200
London	1.29%	$9,030	$12,900
Windsor	1.78%	$12,460	$17,800

Toronto Property Tax History

Year	Residential Rate	Year-Over-Year Change
2026	0.63%	+3.2%
2025	0.61%	+4.8%
2024	0.58%	+5.5%
2023	0.55%	+2.5%
2022	0.54%	+1.8%

Toronto property tax rates have increased above inflation for four consecutive years. The City faces ongoing pressure to raise rates while managing a significant municipal budget deficit.

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

MPAC Assessment: 2016 Freeze Explained

Ontario has paused property reassessments since the planned 2020 update was cancelled. As a result:

Fact	Details
Assessment base year	January 1, 2016
Homes bought 2017–2026	Often assessed well below purchase price
Impact	Tax bills lower than they would be under current values
Risk	When reassessment resumes, many owners will see sharp increases

A Toronto home purchased for $1,200,000 in 2022 could still be assessed at $700,000, resulting in annual tax of $4,410 instead of $7,560.

How to Appeal Your MPAC Assessment

Step	Details
Request for Reconsideration (RfR)	Free; submit within 120 days of your notice
Assessment Review Board (ARB) appeal	$125 fee; if RfR is unsuccessful
Grounds for appeal	Factual errors, comparable sales, incorrect property class
Cannot appeal	Just because your tax bill is high

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

Payment Options

Method	Details
Pre-authorized Tax Payment (PTP)	Monthly withdrawals; enroll at Toronto.ca
Installments	4–6 bills per year (February, April, June, August)
Online/phone banking	Add “Toronto Property Tax” as payee using your roll number
In-person	Service Toronto locations

The Pre-authorized Tax Payment plan is the most common option. Monthly amounts are adjusted mid-year when the final tax rate is set.

Toronto vs National Average

City	Rate	Tax on $800K	Province
Vancouver	0.27%	$2,160	BC
Toronto	0.63%	$5,040	ON
Calgary	0.66%	$5,280	AB
Montreal	0.76%	$6,080	QC
Ottawa	1.01%	$8,080	ON
Winnipeg	1.32%	$10,560	MB