Property Taxes

2017 Property Tax Rates

 

Your final 2017 property taxes consist of a City levy, education levy and City Building fund levy.

Residential Properties


The City levy has been calculated by multiplying your property's 2017 phased-in assessment by the City's tax rate, as approved by Toronto City Council.

The education levy is calculated by multiplying your 2017 phased-in assessment by the education tax rate, as set by the Province of Ontario.

The City Building fund is calculated by multiplying your 2017 phased-in assessment by the City Building fund levy, as approved by Toronto City Council.

Multi-Residential, Commercial and Industrial Properties


Properties that are subject to a tax increase will continue to be protected by capping.

City Council has approved changes in the calculation of property taxes for non-residential properties to accelerate progress towards full Current Value Assessment (CVA) levels of taxation.  Starting in 2017, the maximum allowable tax increase (tax cap amount) will be calculated based on 10 per cent of the property's full 2016 CVA taxes. Additionally, where a property's 2017 actual CVA taxes in comparison to the 2016 annualized taxes are within $500, the property will move directly to full 2017 CVA taxes.

Properties with tax decreases will continue to have a portion of their tax decrease withheld to fund the cap on properties subject to increases.

More information on the tax rate reduction for commercial properties.

2017 Property Tax Rates

DescriptionCity Tax Rate %Education Tax Rate %City Building Fund %Total Tax Rate %
Residential 0.4802928% 0.1790000% 0.0023544% 0.6616472%
Multi-Residential 1.2844065% 0.1790000% 0.0000000% 1.4634065%
New
Multi-Residential
0.4802928% 0.1790000% 0.0023544% 0.6616472%
Commercial General 1.3768297% 1.1400000% 0.0033936% 2.5202233%
Residual Commercial -
Band 1
1.2017266% 1.1400000% 0.0029620% 2.3446886%
Residual Commercial -
Band 2
1.3768297% 1.1400000% 0.0033936% 2.5202233%
Industrial 1.3675943% 1.2164150% 0.0022624% 2.5862717%
Pipelines 0.9238739% 1.3900000% 0.0045288% 2.3184027%
Farmlands 0.1200732% 0.0447500% 0.0005886% 0.1654118%
Managed Forests 0.1200732% 0.0447500% 0.0005886% 0.1654118%

Example:

Estimated taxes on a residential property with an Assessed Value of $587,471

Estimated property tax   = Assessed Value x Residential Tax Rate

= $587,471 x 0.6616472%
= $3,886.98

Previous Tax Rates (2011-2016)
Previous Tax Rates (2001-2010)


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