Here is now Toronto`s property tax rates compared to other Ontario cities

Thursday Dec 03rd, 2020

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While home prices are, of course, top of mind for any prospective property buyer, property taxes are not to be overlooked. And according to a new report from Zoocasa, Toronto’s are currently the lowest in the province.
As it stands, the city’s property tax rate is 0.599704%, hovering below Markham’s 0.628191%. Meanwhile, the province’s highest property tax rates will currently be found in Windsor, with a rate of 1.775679%, and following that city, Thunder Bay’s rates are at 1.562626%.
“It’s important to note that this does not mean that every homeowner in Windsor is paying more in property taxes than a homeowner in Toronto,” explains the report. “There are a number of factors at play.”
Essentially, property tax can be calculated by multiplying a home’s most recent value assessment by the residential rate set by the home’s local municipality. In Ontario, these calculations are based on a home’s value, the Education Tax Rate, and the Residential Tax Rate.
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