Cambridge Property Tax Calculator 2024
The City of Cambridge is located east of the Grand River in the Regional Municipality of Waterloo and is home to over 138K residents. Cambridge real estate prices decreased by 8% from July 2022 to July 2023, and the average sold price of a house in July 2023 was $771K. Cambridge real estate property types include new-construction homes, single-family detached houses, apartments, and condominiums. The benchmark price of single-family detached homes for the month of July 2023 was $797K. The prices of condo apartments saw the most significant change in the same month, dropping by 14.8% year-over-year.
Cambridge property tax is based on the assessed value of your 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. This assessed value can differ significantly from the market value of your property. Your final property tax amount is calculated by multiplying the Cambridge final property tax rate for the year by the MPAC property assessed value.
You can calculate your property tax using either your home's MPAC assessed value or your home's most recent market price. Just enter the price and type of your property, and we will give you an instant property tax estimate.
I know my home’s MPAC Assessed value
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2024 Tax rates for Cities Near Cambridge
| City | Final Tax Rate |
|---|---|
| Kitchener | 1.272828 % |
| Guelph | 1.319641 % |
| Waterloo | 1.272504 % |
| Brantford | 1.455814 % |
Cambridge Property Taxes
Property tax is a tax based on the assessed value of a property. If you own a property or parcel of land, you will have to pay property tax. It is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
There are two main parts to a property tax:
- A municipal tax that depends on the municipality of the property
- An education tax that is the same throughout Ontario.
Some cities may add additional taxes. For example, the City of Toronto has a City Building Fund Levy that is used for public transit and housing projects in the city.
Property tax rates also depend on the type of property. Common major categories are Residential, Multi-Residential, Commercial, Industrial and Farmland. Almost all homes will apply under Residential property tax rates.
| Residential Property Tax Rate for Cambridge from 2018 to 2024 | |||
|---|---|---|---|
| Year | Municipal Rate | Educational Rate | Final Tax Rate |
| 2024 | 0.497250% | 0.153000% | 1.387340% |
| 2023 | 0.468260% | 0.153000% | 1.307550% |
| 2022 | 0.447020% | 0.153000% | 1.232580% |
| 2021 | 0.428830% | 0.153000% | 1.186330% |
| 2020 | 0.423120% | 0.153000% | 1.177220% |
| 2019 | 0.423410% | 0.161000% | 1.184230% |
| 2018 | 0.429840% | 0.170000% | 1.204890% |
Cambridge Property Tax Department Information
For any questions or inquiries about your property tax rate or property tax bill, you can reach out to the city of Cambridge's property tax department through the following methods:
| Phone number | 519-623-1340 |
|---|---|
| questions@cambridge.ca |
Cambridge Property Tax Department Information
For any questions or inquiries about your property tax rate or property tax bill, you can reach out to the city of Cambridge's property tax department through the following methods:
| Phone number |
|---|
| 519-623-1340 |
| questions@cambridge.ca |
| Cambridge at a Glance | |
|---|---|
| Province | Ontario |
| Settled Year | 1834 |
| Established Year | 1973 |
| Incorporated Year | 1973 |
| Population | 138,479 |
| City Area | 112.86 km 2 (43.58 sq mi) |
| Official Website | Cambridge Official Website |
Property Taxes in Ontario for a $500K MPAC Assessed Value Home*
Assessed Value of a Property
Property value assessments in Ontario are conducted every four years by the Municipal Property Assessment Corporation (MPAC). They conduct assessments for all types of property in Ontario ranging from residential properties to farms to commercial properties. For residential properties, they use a number of factors, including market price, to determine the assessed value of a property. While they release overviews of their valuation guidelines, there is no transparency in the assessment of a specific property.
Homeowners may find that the assessed value of their property differs significantly from its market price. There is also no way to retrieve and compare the assessed value of other properties.
Property Taxes in Ontario for a $500K Fair Market Value Detached Home*
How We Calculate Your Property Tax
If you entered your home's Provinical Assessment value, we calculate your property tax by multiplying your Assessment value by Cambridge's final property tax rate.
Property Tax of Other Cities in Ontario
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.