London Property Tax Calculator 2021
The City of London is located in Middlesex County and is home to over 383K residents. The population of London increased by 5% from 2011 to 2016. London real estate prices have increased by 22% from August 2019 to August 2020 and the average price of a home in London is $500K, based on data from the London St. Thomas Association of Realtors. Over the past few years, Greater Toronto Area residents have been moving to London, and the low case count of COVID-19 cases in London throughout the 2020 pandemic have made the London real estate market even more attractive to Torontonians. Many properties being sold on the London real estate market now receive multiple offers, which increases the cost of real estate in the City of London. London property tax rates are the 39th lowest property tax rates in Ontario for municipalities with a population greater than 10K.
London 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 London final property tax rate for the year by the MCAP property assessed value.
You can calculate your property tax using either your home's MCAP 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.
2020 Tax rates for Cities Near London
| City | Final Tax Rate |
|---|---|
| St. Thomas | 1.548670 % |
| Woodstock | 1.473048 % |
| Stratford | 1.350832 % |
| Norfolk County | 1.263380 % |
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London 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 London from 2018 to 2020 | |||
|---|---|---|---|
| Year | Municipal Rate | Educational Rate | Final Tax Rate |
| 2020 | 1.195295% | 0.153000% | 1.348259% |
| 2019 | 1.179225% | 0.161000% | 1.340225% |
| 2018 | 1.180819% | 0.170000% | 1.350819% |
London 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 London's property tax department through the following methods:
| Phone number | 519-661-4540 |
| taxoffice@london.ca |
London 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 London's property tax department through the following methods:
| Phone number |
| 519-661-4540 |
| taxoffice@london.ca |
| London at a Glance | |
|---|---|
| Province | Ontario |
| Settled Year | 1826 |
| Established Year | 1826 |
| Incorporated Year | 1855 |
| Population | 383,822 |
| City Area | 420.57 km 2 (162.38 sq mi) |
| Official Website | London Official Website |
Property Taxes in Ontario for a $500K MCAP Assessed Value Home*
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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.
