What Are the Average Property Taxes in Toronto?

Average Toronto property taxes are calculated by multiplying your home’s MPAC-assessed value by the city’s residential tax rate, which is approximately 0.666% in 2025.

While every home is assessed differently, Toronto’s property tax rate is among the lowest in the province of Ontario. Here’s how annual taxes break down at different price points:

Sample Average Property Tax Calculations (2025 Estimate)

• $800,000 home: $800,000 × 0.00666 = ~$5,330 per year
• $1.5 million home: $1,500,000 × 0.00666 = ~$9,990 per year
• $3 million home: $3,000,000 × 0.00666 = ~$19,980 per year

What Else Should Buyers Know?

• MPAC assessments matter: Taxes are based on assessed value, which may differ from market value.
• Annual adjustments: Tax rates may change based on the City of Toronto’s budget needs.
• Budget planning: Property taxes are often collected monthly with your mortgage payments, making them easier to manage.

The Fox Marin Real Team assists buyers to plan for the true cost of ownership factoring in not just mortgage and down payment, but ongoing costs like property taxes. Knowing these numbers upfront ensures no surprises after closing.

 

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