Rate used on this profile
City + Ontario education + City Building Fund (2026 official residential total).
All cities
Rate year 2026 · OntarioofficialRank #7
Rate year 2026 · OntarioofficialRank #7Toronto Property Tax 2026
Total residential rate 0.767% — about $5,371.18 per year on $700,000 residential assessment (illustrative) (~$447.60 / month).
By Sammy S. · Founder · AuthorUpdated for 2026
0.767%
Residential rate
$5,371.18
Vignette annual
$447.60
Vignette monthly
#7
Curated rank
Toronto property tax at a glance
Total residential rate
0.767%
Vignette annual tax
$5,371.18
Rate year / confidence
2026 · official
Rank in curated set
#7 · Ontario
City + Ontario education + City Building Fund (2026 official residential total).
Estimated annual tax by assessment
| Assessed value | Annual tax | Monthly |
|---|---|---|
| $500,000 | $3,836.56 | $319.71 |
| $700,000 | $5,371.18 | $447.60 |
| $1,000,000 | $7,673.11 | $639.43 |
Vignette default: $700,000 residential assessment (illustrative) ($700,000). Displayed rates use three decimals; tax dollars use the full municipal rate.
Toronto property tax estimate calculator
Estimate your annual property tax
Use the assessed value from your notice, not a market listing price.
Toronto rate year 2026 · official · City + Ontario education + City Building Fund (2026 official residential total).
Estimate
Annual property tax
$5,371.18
Monthly
$447.60
Rate applied
0.767%
Excludes empty-home levies, local improvements, BIAs, utility transfers, and grants. Not a tax bill.
Guide
How Toronto property tax works
Toronto applies a 2026 residential rate of 0.767% (official) to assessed value. On $700,000 residential assessment (illustrative) that is about $5,371.18 per year (~$447.60 / month).
Assessment base
The Municipal Property Assessment Corporation (MPAC) sets the assessed value for Ontario. Multiply that value by 0.767% (÷ 100) for a planning estimate that matches this profile’s scope.
Worked example
At $500,000 assessed: about $3,836.56. At $1,000,000: about $7,673.11 before credits or local adders.
Official source
Verify your property class, area rating, and any mid-year updates on the municipal schedule linked below. Last checked 2026-08-09.
City of Toronto — 2026 property tax rates →Guide
Ontario context for Toronto homeowners
Property tax in Toronto follows Ontario assessment and billing rules. These points explain what usually sits beside the municipal rate on a local notice.
Ontario assessment
MPAC current-value assessment is the usual base. Valuation dates can lag the open market; phased-in assessment may apply after a province-wide update.
Education on the municipal bill
Ontario residential education rates are set by the province and collected with city (and regional) levies on the same tax notice for most homeowners.
Guide
Using the Toronto estimate for planning
Treat the vignette and calculator as educational planning tools. Final instalments follow the city’s billing calendar and any credits on your account.
Scale to your assessment
Tax scales linearly with assessed value under a flat percent rate. A $1,000,000 assessment is about $7,673.11 at this Toronto rate before credits.
What we do not include
Local improvements, BIA levies, separate utility flat fees, empty-home or vacancy taxes, and phase-in or averaging programs are outside this estimate.
Where it sits in the ranking
Toronto is rank #7. The next higher-rate city in this set is Hamilton at 1.557%; a lower-rate neighbour is Vancouver at 0.336%.
Next step
Compare Toronto with another municipality on the compare pages, or open the city portal linked in sources before relying on the figure for a purchase or move.
Guide
Before you buy or refinance in Toronto
Annual property tax is only one carrying cost. Pair this 0.767% estimate with mortgage stress-test and land-transfer tools before you commit.
Request the seller’s latest tax bill
Confirm assessed value, class, area rating, and any local improvement or BIA lines that will transfer with the property.
Check credit eligibility
Ask whether Home Owner Grant, senior, or other Ontario credits apply to your household—those reduce net tax after the rate is applied.
Budget the payment calendar
Interim vs final billing (or monthly PAD) affects cash flow even when the annual levy is unchanged. Use the city’s published due dates.
Re-verify at closing
Rates can change each spring. Re-check City of Toronto — 2026 property tax rates if you are closing near a new tax year.
Billing & rate timing
Spring rate confirmation
Most cities finalize residential rates each spring after budgets and education requisitions. This hub labels each city’s rate year and last-checked date.
Toronto — interim + final
Toronto issues interim and final bills. Estimated tax = assessed value × total residential rate (city + education + City Building Fund). Special charges can appear on the instalment schedule.
Calgary — May bill, June due
Calgary mails the annual bill in May for the calendar year; the due date is typically the last business day of June. Total = assessment × (city rate + provincial education rate).
Ottawa — 2026 final due June 18
Ottawa’s 2026 final property tax bills were scheduled for mid-May mailing with a Thursday, June 18, 2026 payment due date (ottawa.ca). Urban vs rural stacks differ.
Common myths vs official rules
“Property tax rate equals market-value tax.”
Bills use assessed value from MPAC, BC Assessment, or the municipal assessor — often a phased or valuation-date figure, not today’s sale price. Formula: annual tax ≈ assessment × residential rate.
“Toronto’s rate is lower than Vancouver, so Toronto is cheaper.”
Toronto’s published residential total is 0.767% vs Vancouver’s 0.336% — but dollar bills still depend on each city’s assessment for the same home. Compare rates and assessments together.
“Victoria and Vancouver use the same all-in BC rate.”
Victoria’s Class 1 mill rate here (0.372%) is city levy only. Vancouver’s published residential total already includes provincial school and regional levies — scopes differ.
“Alberta cities have the same provincial education rate on every bill.”
Calgary’s 2026 residential total is 0.665% (city + provincial education). Edmonton’s residential/farmland total is 1.036% including an education requisition allowance — municipal stacks differ.
“Québec welcome tax is the same as annual property tax.”
Droits de mutation (welcome tax) are a one-time transfer duty at purchase. Annual municipal property tax is a separate ongoing levy — see Land Transfer Tax by City for closing tax.
Glossary
- Assessed value
- The valuation base for the tax bill (MPAC current-value assessment in Ontario, BC Assessment, or the local assessor). Not always equal to market price.
- Total residential rate
- Combined municipal (+ education/regional where published as one total) rate on residential assessment, shown here as a percent of assessed value.
- Education / school tax
- In Ontario and Alberta, usually collected on the municipal bill. In Québec, school tax is often billed separately from the municipal general schedule used in this hub.
- Portioning (Manitoba)
- Manitoba taxes residential property on 45% of assessment. Mill rates on portioned value must be converted to compare with percent-of-full-assessment cities.
- Area rating / borough stack
- Extra fire, transit, or borough levies that vary by neighbourhood (e.g. Hamilton communities, Montréal boroughs). Not fully modeled on every row.
- Confidence label
- official = city-published total; official_derived = calculated from published components; estimate/model = composite where a single all-in total is not published the same way.
Compare any two cities
Total residential rates, vignette tax, and official sources.
FAQ — Toronto
0.767% of assessed value for rate year 2026 (official). City + Ontario education + City Building Fund (2026 official residential total). Source: City of Toronto — 2026 property tax rates.
About $5,371.18 per year, or roughly $447.60 per month (rank #7 in this curated list).
About $3,836.56 on $500,000 and $7,673.11 on $1,000,000 at this 2026 residential rate, before credits or local charges.
Toronto multiplies assessed value by the residential rate class that applies to your location and property type. City + Ontario education + City Building Fund (2026 official residential total).
The Municipal Property Assessment Corporation (MPAC) determines assessed value for Ontario properties. The municipality (and, where applicable, the province or school boards) sets the rates applied to that base.
#7 of 12 in this curated set (1 = highest residential rate). Closest rate among other cities listed here: Quebec City at 0.746%.
Also listed for Ontario: Ottawa (1.226%), Mississauga (1.088%), Hamilton (1.557%). Toronto is 0.767% for rate year 2026. Scope still differs by city (for example BC city-only vs all-in totals).
Most Canadian cities split the year into an interim bill (often based on last year’s levy) and a final bill after new rates are set. Exact instalment dates are on your municipal tax notice or online account—not modeled here.
Local improvement charges, BIA levies, water/waste flat fees (where billed separately), empty-home or vacancy taxes, assessment appeals, and senior or homeowner credits are not modeled. Confirm on your tax notice.
Yes—assessment appeals follow Ontario rules and deadlines (for example MPAC Request for Reconsideration / Assessment Review Board in Ontario, or BC Assessment review/appeal paths). Appealing assessment changes the base; it does not rewrite the published tax rate.
See City of Toronto — 2026 property tax rates (last checked 2026-08-09). Open the linked municipal schedule on this page’s sources card to confirm class and area rating.