Property Tax Calculator 2024

WOWA Simply Know Your Options

Property taxes are levies that governments use as a source of tax revenue. They are usually calculated using the assessed value of the property and the property tax rate of a certain region or municipality.

Assessments of residential properties are usually private, however, and known only to the owner. This can make it difficult for homebuyers to estimate the property tax they could have to pay when they buy a new home. If you’re an investor and buying a rental property, property tax could mean the difference between positive and negative cash flow, especially in high property tax regions.

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Property Tax Estimator 2024

Purchase Price
The purchase price of your home.
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City
Property Type
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Your Estimated Property Tax

$1,8231.82k

Your Estimate Ranges From

$1,6091.61k - $2,0252.02k

Property Tax of Cities Near Toronto

Vaughan $1,8481.85k
Mississauga $2,0562.06k
Markham $1,6071.61k
* The values are an estimate based on data from thousands of homes across Toronto. True values vary based on the assessed value on your property. $0 indicates not enough data.

Property Taxes of Largest Population Centres in Canada for a $500K Assessed Value Home*

Property Taxes of Largest Population Centres in Canada for a $500K Fair Market Value Detached Home*

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Property Value Assessment

Most properties ranging from residential homes to farmland to industrial buildings are assessed regularly. Many factors can be taken into account during the assessment process. Market value is normally used to determine the assessed value for residential properties, not the size or square footage of a property , while other factors like income generation and productive value can be used for commercial properties and farmland.

Each province has its own assessment authority that oversees and regulates property assessments. In Ontario, the Municipal Property Assessment Corporation (MPAC) is responsible for property assessments every four years. Similarly, in British Columbia, BC Assessment assesses properties province-wide every year, In Alberta, each municipality is responsible for their own property assessments but are regulated by the provincial Assessment Audit Unit.

Property Assessed Value vs. Market Value

Despite being based on market valuations, the assessed value of a property can differ significantly from its market value. This is especially true for properties in high-demand areas such as the GTA.

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Check Property Tax of Largest Population Centres in Canada

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Toronto
Toronto’s property tax is based on the assessed value of the home; every four years, the Municipal Assessment Corporation (MPAC) conducts an evaluation of properties all over Ontario and submits assessed values for each of them. The tax is calculated by multiplying the current year property-value with the total tax rate which mainly consists of a Council-approved City Tax Rate, a City Building Fund Levy Rate, and an Education Tax Rate as set by the Ontario Provincial Government. It is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education. Toronto offers Property Tax Relief Programs for certain groups of people such as low-income seniors and people with disabilities.
Calculate my property tax in Toronto
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Montreal
Montreal’s property tax or “Welcome Tax” is based on the assessed value of the home; properties in Montreal are assessed by their regional county municipality or municipalité régionale de comté (MRC) every three years. The tax is calculated by multiplying the current year property-value with the total tax rate which mainly consists of a municipal tax that depends on the borough of the property and an education tax set by the province that is the same throughout Québec. Montreal also offers the Montreal Home Ownership Program which provides financial assistance to first-time home buyers through granting lump-sum payments and, if the household has children, a refund for up to 100% of the Welcome Tax.
Calculate my property tax in Montreal
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Calgary
Calgary’s property tax is based on the assessed value of the home; every year, Calgary assesses properties based on guidelines set by the Alberta Assessment and Property Tax Policy Unit and the Ministry of Municipal Affairs. The tax is calculated by multiplying the current year property-value with the total tax rate which mainly consists of a municipal tax that depends on the municipality of the property and an education tax that may change from municipality to municipality. It is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
Calculate my property tax in Calgary
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Ottawa
Ottawa’s property tax is based on the assessed value of the home; every four years, the Municipal Assessment Corporation (MPAC) conducts an evaluation of properties all over Ontario and submits assessed values for each of them. The tax is calculated by multiplying the current year property-value with the total tax rate which mainly consists of a municipal tax that depends on the municipality of the property and an education tax that is the same throughout Ontario. It is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
Calculate my property tax in Ottawa
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Edmonton
Edmonton’s property tax is based on the assessed value of the home; every year, Edmonton assesses properties based on guidelines set by the Alberta Assessment and Property Tax Policy Unit and the Ministry of Municipal Affairs. The tax is calculated by multiplying the current year property-value with the total tax rate which mainly consists of a municipal tax that depends on the municipality of the property and an education tax that may change from municipality to municipality. It is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
Calculate my property tax in Edmonton
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Mississauga
Mississauga’s property tax is based on the assessed value of the home; every four years, the Municipal Assessment Corporation (MPAC) conducts an evaluation of properties all over Ontario and submits assessed values for each of them. The tax is calculated by multiplying the current year property-value with the total tax rate which mainly consists of a municipal tax that depends on the municipality of the property and an education tax that is the same throughout Ontario. It is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
Calculate my property tax in Mississauga
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Winnipeg
Winnipeg’s property tax is based on the assessed value of the home; every two years, Winnipeg assesses properties based on guidelines stated in The Municipal Assessment Act. Property tax in Manitoba is made out of four parts: a municipal rate that is different for each municipality, a provincial Education Rate that is the same for all municipalities, a School Division Rate that is different for each municipality, and additional taxes for local services as needed. Every year, the education tax is set by the provincial Minister of Education while the rest is set by the City Council; the rates are expressed in mills based on how much revenue they predict to need to fund services, where 1 mill = 0.1%. Manitoba also uses a portioned assessment system for which each class of property will have a different sized portion of their assessed value that is taxable.
Calculate my property tax in Winnipeg
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Vancouver
Vancouver’s property tax is based on the assessed value of the home; every year, the BC Assessment conducts an evaluation of properties all over British Columbia. At the beginning of the year, property assessment notices are sent out which records the property values as of July 1st of last year and followed by a tax notice that calculates how much tax is owed based on the assessed value. Generally, the tax will consist of a Municipal Tax as determined by your municipality and a School Tax determined by the number of residences and their values in your district. The tax is responsible for funding services such as police and fire protection, garbage collection, schools, and hospitals.
Calculate my property tax in Vancouver
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Brampton
Brampton’s property tax is based on the assessed value of the home; every four years, the Municipal Assessment Corporation (MPAC) conducts an evaluation of properties all over Ontario and submits assessed values for each of them. The tax is calculated by multiplying the current year property-value with the total tax rate which mainly consists of a municipal tax that depends on the municipality of the property and an education tax that is the same throughout Ontario. It is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
Calculate my property tax in Brampton
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Hamilton
Hamilton’s property tax is based on the assessed value of the home; every four years, the Municipal Assessment Corporation (MPAC) conducts an evaluation of properties all over Ontario and submits assessed values for each of them. The tax is calculated by multiplying the current year property-value with the total tax rate which mainly consists of a municipal tax that depends on the municipality of the property and an education tax that is the same throughout Ontario. It is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
Calculate my property tax in Hamilton
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Québec City
Quebec City’s property tax or “Welcome Tax” is based on the assessed value of the home; properties in Quebec are assessed by their regional county municipality or municipalité régionale de comté (MRC) every three years. The tax is calculated by multiplying the current year property-value with the total tax rate which mainly consists of a municipal tax that depends on the borough of the property and an education tax set by the province that is the same throughout Québec. The tax is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
Calculate my property tax in Québec City
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Surrey
Surrey’s property tax is based on the assessed value of the home; every year, the BC Assessment conducts an evaluation of properties all over British Columbia. At the beginning of the year, property assessment notices are sent out which records the property values as of July 1st of last year and followed by a tax notice that calculates how much tax is owed based on the assessed value. Generally, the tax will consist of a Municipal Tax as determined by your municipality and a School Tax determined by the number of residences and their values in your district. The tax is responsible for funding services such as police and fire protection, garbage collection, schools, and hospitals.
Calculate my property tax in Surrey
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Laval
Laval’s property tax or “Welcome Tax” is based on the assessed value of the home; properties in Quebec are assessed by their regional county municipality or municipalité régionale de comté (MRC) every three years. The tax is calculated by multiplying the current year property-value with the total tax rate which mainly consists of a municipal tax that depends on the borough of the property and an education tax set by the province that is the same throughout Québec. The tax is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
Calculate my property tax in Laval
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Halifax
Halifax’s property tax is based on the assessed value of the home; properties are assessed by the Property Valuation Services Corporation which mails out property assessment notices every year in January. Property tax in Halifax consists of a general tax that is determined by the municipality and varies by location, and a provincial tax set by the provincial government of Nova Scotia. Halifax also applies different municipal rates for properties in urban areas than those in suburban areas. The tax is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
Calculate my property tax in Halifax
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London
London’s property tax is based on the assessed value of the home; every four years, the Municipal Assessment Corporation (MPAC) conducts an evaluation of properties all over Ontario and submits assessed values for each of them. The tax is calculated by multiplying the current year property-value with the total tax rate which mainly consists of a municipal tax that depends on the municipality of the property and an education tax that is the same throughout Ontario.The tax is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
Calculate my property tax in London
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Markham
Markham’s property tax is based on the assessed value of the home; every four years, the Municipal Assessment Corporation (MPAC) conducts an evaluation of properties all over Ontario and submits assessed values for each of them. The tax is calculated by multiplying the current year property-value with the total tax rate which mainly consists of a municipal tax that depends on the municipality of the property and an education tax that is the same throughout Ontario.The tax is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
Calculate my property tax in Markham
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Vaughan
Vaughan’s property tax is based on the assessed value of the home; every four years, the Municipal Assessment Corporation (MPAC) conducts an evaluation of properties all over Ontario and submits assessed values for each of them. The tax is calculated by multiplying the current year property-value with the total tax rate which mainly consists of a municipal tax that depends on the municipality of the property and an education tax that is the same throughout Ontario.The tax is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
Calculate my property tax in Vaughan
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Gatineau
Gatineau’s property tax or “Welcome Tax” is based on the assessed value of the home; properties in Gatineau are assessed by their regional county municipality or municipalité régionale de comté (MRC) every three years. The tax is calculated by multiplying the current year property-value with the total tax rate which mainly consists of a municipal tax that depends on the borough of the property and an education tax set by the province that is the same throughout Québec. The tax is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
Calculate my property tax in Gatineau
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Saskatoon
Saskatoon’s property tax is based on the assessed value of the home; every four years, Saskatoon assesses properties based on guidelines set by the Saskatchewan Assessment Management Agency (SAMA), and the year on which the assessments are determined is called the “base date.” Saskatchewan uses the mill rate factor system where each property classification is assigned to pay a certain percentage of the tax rate. The tax consists of a municipal tax that depends on the municipality of the property and an education tax that is the same throughout the province. For the municipal portion of your tax, the municipal mill rate will be multiplied by the total taxable assessment then multiplied by the mill rate factor for determining the amount. There is a set education mill rate established by the province for all municipalities, and no mill rate factor is applied to it. The tax rate is expressed in mills, where 1 mill = 0.1%. The tax is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
Calculate my property tax in Saskatoon
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Effective Property Tax Rate by WOWA

WOWA has developed an Effective Property Tax Rate that describes the relationship between the market value of a property and its property tax. This is different from the official property tax rate based on the assessed value of a property, which can deviate significantly from the property’s market value.

The Effective Property Tax Rate allows you to estimate the property taxes of a home or residential property using just its fair market value. This allows Canadians to better understand and estimate property taxes when comparing properties.

In 2019, the City of Toronto’s official property tax rate was 0.614770%. If you bought or owned a $500K condo, you may expect to pay an annual property tax of $3,074 ($500K x Property Tax Rate). In reality, you would likely pay around $1,900 in annual property taxes due to differences between the assessed value of the property and its market value.

Your Effective Property Tax Rate would be 0.3726%, lower than the official property tax rate of 0.614770%.

In 2019, the City of Vancouver’s official property tax rate was 0.256116%. If you bought or owned a $1M condo, you may expect to pay an annual property tax of $2,926 ($1M x Property Tax Rate). In reality, you would likely pay around $3,500 in annual property taxes due to differences between the assessed value of the property and its market value.

Your Effective Property Tax Rate would be 0.3525%, greater than the official property tax rate of 0.256116%.

How is My Property Tax Estimated?

We collected property tax and asking price data for 1671 condo apartments in Toronto. Your property tax estimate is computed via a linear model fitted to this data.

Official Property Tax Rates

Property taxes are the main source of revenue for municipalities. They are usually determined once a year near the second half of the year.

In Canada, the finances of municipalities are highly regulated by provincial governments and there are strict restrictions on borrowing. As a result, municipalities have to carefully balance their budgets according to the expenses they have for each year. One tool that they can use is their property tax rate. By deciding on the property tax rates later in the year, municipalities get more time to figure out how much additional (or less) revenue they need.

Interim Property Taxes

Interim property taxes, or property taxes for the first half of the year, are used by many municipalities throughout Canada. They are collected based on the property tax rates from the previous year. The amount paid for interim property taxes will be put towards the total property tax payment for the year. They allow cities to be able to collect tax revenue while deciding on their budget for the year and their final property tax rate.

If the final property tax rate is higher than the previous year’s tax rate, you will have to pay more for the second round of payments in the year to make up for the difference. Likewise, if the final property tax rate is lower than the previous year’s tax rate, you will pay less for the second round of payments in the year.

Disclaimer:

  • Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
  • The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
  • Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
  • Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.