Toronto Property Tax 2026 — Mill Rate 7.673 (0.7673%)
Ontario · annual residential property tax · municipal levy (separate from CRA income tax)
Quick answer — annual property tax on a $1,100,000 home
$8,440 /year
≈ $703/month escrow · mill rate 7.673 (0.7673%) · YoY +5.22 bps
Canada's largest city and economic centre. Residents pay Ontario provincial tax plus federal tax — there is no separate Toronto income tax.
Annual property tax by home value in Toronto
| Home value | Annual tax | Monthly escrow |
|---|---|---|
| $500,000 | $3,837 | $320 |
| $750,000 | $5,755 | $480 |
| $1,000,000 | $7,673 | $639 |
| $1,500,000 | $11,510 | $959 |
| $2,000,000 | $15,346 | $1,279 |
| $3,000,000 | $23,019 | $1,918 |
Toronto property tax due dates (2026)
As published by the municipality. Missing a due date triggers a penalty, so these matter more than the rate does.
Interim bill
- March 2, 2026
- April 1, 2026
- May 1, 2026
Final bill
- July 2, 2026
- August 4, 2026
- September 1, 2026
Pre-authorized plans run on two instalments (March 2 and July 2), six instalments matching the regular dates, or eleven monthly withdrawals from February 17 through December 15.
Due dates source: https://www.toronto.ca/services-payments/property-taxes-utilities/property-tax/property-tax-due-dates/ · verified 2026-08-26
Mill rate breakdown
| Component | Rate | % of total |
|---|---|---|
| Municipal | 0.6053% | 78.9% |
| Education (Ontario) | 0.1530% | 19.9% |
| Transit / City Building | 0.0090% | 1.2% |
| Total | 0.7673% | 100.0% |
Compare with other Ontario cities
Annual tax shown for a $1,000,000 home, sorted lowest to highest mill rate.
| City | Mill rate | Tax on $1M home |
|---|---|---|
| Markham | 7.229 (0.7229%) | $7,229 |
| Vaughan | 7.492 (0.7492%) | $7,492 |
| Richmond Hill | 7.601 (0.7601%) | $7,601 |
| Oakville | 8.510 (0.8510%) | $8,510 |
| Milton | 8.651 (0.8651%) | $8,651 |
| Burlington | 10.153 (1.0153%) | $10,153 |
| Mississauga | 10.879 (1.0879%) | $10,879 |
| Ottawa | 12.271 (1.2271%) | $12,271 |
| Brampton | 12.534 (1.2534%) | $12,534 |
| Pickering | 13.373 (1.3373%) | $13,373 |
| Whitby | 13.825 (1.3825%) | $13,825 |
| Kitchener | 14.060 (1.4060%) | $14,060 |
| Waterloo | 14.323 (1.4323%) | $14,323 |
| Barrie | 14.675 (1.4675%) | $14,675 |
| Guelph | 14.944 (1.4944%) | $14,944 |
| Cambridge | 15.122 (1.5122%) | $15,122 |
| Hamilton | 15.572 (1.5572%) | $15,572 |
| Oshawa | 15.753 (1.5753%) | $15,753 |
| Kingston | 16.054 (1.6054%) | $16,054 |
| London | 17.271 (1.7271%) | $17,271 |
| Niagara Falls | 17.489 (1.7489%) | $17,489 |
| St. Catharines | 18.422 (1.8422%) | $18,422 |
| Sudbury | 19.072 (1.9072%) | $19,072 |
| Windsor | 20.965 (2.0965%) | $20,965 |
Related calculators for Toronto
Buying in Toronto? Use the Land Transfer Tax calculator for the one-time purchase tax. Comparing salaries? Estimate your take-home pay in Toronto with the take-home pay calculator. Or browse all city property tax pages.
Own an empty home in Toronto? The Vacant Home Tax is separate from your property tax bill: estimate it with the vacancy tax calculator.
Frequently asked questions
What is Toronto's 2026 property tax rate?
Toronto's 2026 residential mill rate is 7.673 mills, i.e. $7.673 of tax per $1,000 of assessed value (0.7673%, or 0.00767311 as a decimal). On a $1,100,000 home this works out to $8,440 per year, or roughly $703 per month if your lender holds the tax in escrow. Source: https://www.toronto.ca/services-payments/property-taxes-utilities/property-tax/property-tax-rates-and-fees/, last verified 2026-04-29.
When are Toronto property taxes due?
Toronto's 2026 interim bill was due March 2, 2026, April 1, 2026 and May 1, 2026. Toronto's 2026 final bill was due July 2, 2026, August 4, 2026 and September 1, 2026. Source: https://www.toronto.ca/services-payments/property-taxes-utilities/property-tax/property-tax-due-dates/, last verified 2026-08-26. Most lenders collect property tax monthly through PITI escrow rather than waiting for the city's due date.
How is my Toronto home assessed?
Your tax is calculated as assessed value × mill rate, not market value × mill rate. Ontario uses a public assessment authority (BC Assessment, MPAC in Ontario, etc.) to set assessed values, usually updated every 1-4 years. Assessed value typically lags market value, so the same mill rate produces different effective burdens depending on assessment cycle timing.
Are Toronto property taxes deductible on my income tax return?
Property tax on your principal residence is NOT deductible federally or provincially. It only becomes deductible when the property generates rental income (line 9180 on T776) or self-employed business income (CCA / business-use-of-home on T2125). For a principal residence, the tax is a non-deductible cost of ownership.
Why does Toronto's mill rate differ from neighbouring cities?
Each Canadian municipality sets its own residential mill rate to fund local services — police, fire, transit, parks, road maintenance — plus a provincially-set education portion. Cities with higher assessed values can raise the same revenue at a lower mill rate (Vancouver, Toronto), while cities with lower assessed values often need higher rates to fund equivalent services. Compare Toronto with other Ontario cities in the table above.
Source: https://www.toronto.ca/services-payments/property-taxes-utilities/property-tax/property-tax-rates-and-fees/ · Last verified 2026-04-29
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