Determined based on your property’s Current Value Assessment.
Empirically, this value tends to be below the market value for one’s property.
Below is the rates for residential units:
| Year | Property Tax Rate |
|---|---|
| 2023 | 0.666274% |
City of Toronto Mayor Olivia Chow is increasing the property tax rate by 10% to supplement the city’s budget deficit.
Instalments
Payments can be made in different cadences. The one that I went for is done over six instalments: Mar, Apr, May, Aug, Sept, Oct. Since the property tax rates may change for the year, the first three months are estimated as 50% of the previous year’s property tax.
Card Processing Fee
Paying online has a 2.35% fee for credit cards, and a 1.5% fee for debit cards.