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.

Starting for 2017, to accelerate progress towards full Current Value Assessment (CVA) levels of taxation (CVA multiplied by tax rate) for non-residential properties, Council approved the following changes:

  • The maximum allowable annual tax increase (tax cap amount) for properties that would be subject to capping protection in 2017 is calculated as 10% of the property's full 2016 CVA taxes (CVA multiplied by the tax rate). The previous cap rate was 5%.
  • If 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 or portions of properties that reached full CVA taxation in 2017 or prior, will be billed at full CVA in 2017.
  • Properties or those portions of properties that were subject to either a capping or clawback adjustment(s) in 2016 and would otherwise cross-over in 2017 will be billed based on full CVA taxation for 2017 and onward. Full CVA taxation refers to taxes that are calculated based on the assessment multiplied by the total tax rate.

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 and what is New for 2017 Final Tax Bill.

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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