Toronto Property Tax Calculator 2026: 0.767% Rate
Toronto's 2026 residential rate is 0.7673% of assessed value, about $7,044 a year on the $918,000 benchmark home. Enter the value from your assessment notice to see your own bill for the year and the month, where Toronto sits among the 42 Ontario cities here, and who sets the value you are taxed on.
How the rate for Toronto is built. Residential (RT) total 0.767311% = city 0.605295% + education 0.153000% + City Building Fund 0.009016% (CBF included).
| What the bill usually adds or leaves out | |
|---|---|
| Flat charges for water, sewer, garbage or stormwater, where the city bills them separately | not included |
| Local improvement charges and business improvement area levies | not included |
| Provincial or municipal homeowner grants and seniors' deferrals that lower the bill | not included |
| A change in the assessment when the roll is updated or the home is sold | not modelled |
Show the math
Annual tax = assessed value × total residential rate. The rate is the sum of the municipal levy, the provincial or school education levy and any regional, transit or library levy that is charged on value, exactly as the city publishes it for 2026. Cities that publish mill rates (per $1,000) or rates per $100 of assessment are converted to a percentage. The assessed value comes from your province's assessment body, which is not the market value: Ontario still uses January 1, 2016 values, BC uses July 1 of the previous year, Alberta July 1 of the previous year, Quebec a three-year roll. The ranking compares the rates published by the 42 Ontario municipalities in our data, not every municipality in the province.
What property tax costs on a typical Toronto home
Toronto's benchmark home price is $918,000 (2026-08). If the assessment matched that price, the tax would be $7,044 a year, $586.99 a month. With 10% down at 4.5% over 25 years, the mortgage on that home is $4,714.55 a month, so with heat and insurance the cost of owning it is about $5,552 a month. Property tax is 11% of that, a small part of the monthly cost, because the mortgage dominates at this price.
Against rent, the tax alone is 29% of the $2,034 average two-bedroom apartment rent in Toronto. The rent vs buy page for Toronto runs the whole comparison, and the mortgage page shows the income needed to qualify.
Property tax in Toronto by assessed value
At the 2026 residential rate of 0.7673%.
| Assessed value | Tax per year | Per month |
|---|---|---|
| $400,000 | $3,069 | $255.77 |
| $600,000 | $4,604 | $383.66 |
| $800,000 | $6,138 | $511.54 |
| $1,000,000 | $7,673 | $639.43 |
Who sets the assessed value in Toronto
The value on your notice comes from the Municipal Property Assessment Corporation (MPAC), a four-year cycle that has been postponed since 2020. For 2026 it reflects January 1, 2016. Every Ontario home is still taxed on what it was worth on January 1, 2016. A house bought recently is assessed well below its price, so the tax is a smaller share of market value than the rate suggests. Toronto sets only the rate, when council passes the budget.
How the rate for Toronto is built
Residential (RT) total 0.767311% = city 0.605295% + education 0.153000% + City Building Fund 0.009016% (CBF included).
How Toronto compares in Ontario
Toronto sits 4th of 42 Ontario cities, in the low-rate third. A $600,000 assessment costs $4,604 here, $267 more than in Markham and $9,332 less than in Chatham-Kent. Cities with expensive homes tend to have low rates, so a low rate is not the same as a low bill.
| Cities near Toronto's rate | Rank | Rate | Tax on $600,000 |
|---|---|---|---|
| Markham | 1 of 42 | 0.723% | $4,337 |
| Vaughan | 2 of 42 | 0.749% | $4,495 |
| Richmond Hill | 3 of 42 | 0.760% | $4,561 |
| Toronto | 4 of 42 | 0.767% | $4,604 |
| Oakville | 5 of 42 | 0.851% | $5,106 |
| Milton | 6 of 42 | 0.864% | $5,181 |
| Aurora | 7 of 42 | 0.874% | $5,244 |
| Newmarket | 8 of 42 | 0.919% | $5,514 |
All 42 Ontario cities, ranked, are on the main property tax page and in the calculator above.
Run a mortgage or accounting practice in Toronto? Put one of our calculators on your site and we will list you on this page at no cost. See how it works.
See the main property tax page for how the calculation works and every city in the data, or the mortgage payment calculator to add the tax to a monthly housing cost.
Common questions
Frequently asked questions
- What is the property tax rate in Toronto?
- 0.7673% of assessed value for residential property in 2026, including the education portion. Residential (RT) total 0.767311% = city 0.605295% + education 0.153000% + City Building Fund 0.009016% (CBF included).
- How much is property tax on a typical home in Toronto?
- Toronto's benchmark home price is $918,000. At the 2026 rate the tax on that value is about $7,044 a year, $586.99 a month. Your assessment is usually not the same as the price, so check the value on your notice and enter that instead. In Ontario it is set by the Municipal Property Assessment Corporation (MPAC) as of January 1, 2016.
- Who decides the assessed value of my home in Toronto?
- The Municipal Property Assessment Corporation (MPAC), a four-year cycle that has been postponed since 2020. The 2026 value is based on January 1, 2016. Every Ontario home is still taxed on what it was worth on January 1, 2016. A house bought recently is assessed well below its price, so the tax is a smaller share of market value than the rate suggests. The city sets the rate, not the value, when it passes its budget.
- Is property tax high in Toronto?
- By rate it is the 4th lowest of the 42 Ontario cities in our data. That usually goes with higher home values, so the bill on a typical Toronto home can still be substantial.
Sources
Sources
Every figure on this page comes from one of these primary sources. Data last verified .
Put this calculator on your own website
Free for brokers, accountants, advisors and bloggers. Paste this where you want the calculator. It sizes itself and credits GlassLayer with a link. The embed page has the terms and every calculator.
<iframe src="https://glasslayer.ca/embed/property-tax-calculator" title="Property Tax Calculator: 2026 Rates for 102 Canadian Cities" style="width:100%;border:0;min-height:900px" loading="lazy"></iframe>
<script>addEventListener('message',e=>{if(e.data&&e.data.type==='glasslayer-embed-height'){document.querySelectorAll('iframe[src*="/embed/"]').forEach(f=>{if(f.contentWindow===e.source)f.style.height=e.data.height+'px'})}})</script>