Peterborough Property Tax Calculator 2023
The City of Peterborough is located along the Otonabee River in Peterborough County and is home to over 83K residents. Based on data from the Peterborough and Kawarthas Real Estate Association, real estate prices in the region remained almost unchanged between June 2022 and June 2023, with the average price of a home in the region being $749K in June 2023. Real estate volume in the region increased by a significant 32% during the same period. Single-family detached houses are by far the most commonly sold property type on the Peterborough real estate market, accounting for a majority of the sales volume, followed by a few sales of townhouses and condominiums.
Peterborough 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 Peterborough 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.
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2023 Tax rates for Cities Near Peterborough
| City | Final Tax Rate |
|---|---|
| Kawartha Lakes | 1.375913 % |
| Clarington | 1.224141 % |
| Scugog | 1.177326 % |
| Oshawa | 1.376207 % |
Peterborough 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 Peterborough from 2018 to 2023 | |||
|---|---|---|---|
| Year | Municipal Rate | Educational Rate | Final Tax Rate |
| 2023 | 1.384656% | 0.153000% | 1.537656% |
| 2022 | 1.338444% | 0.153000% | 1.491444% |
| 2021 | 1.295245% | 0.153000% | 1.448245% |
| 2020 | 1.248679% | 0.153000% | 1.401679% |
| 2019 | 1.249742% | 0.161000% | 1.410742% |
| 2018 | 1.256895% | 0.170000% | 1.426895% |
Peterborough 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 Peterborough's property tax department through the following methods:
| Phone number | 705-742-7777x1865 |
|---|---|
| tax@peterborough.ca |
Peterborough 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 Peterborough's property tax department through the following methods:
| Phone number |
|---|
| 705-742-7777x1865 |
| tax@peterborough.ca |
| Peterborough at a Glance | |
|---|---|
| Province | Ontario |
| Settled Year | 1819 |
| Established Year | 1826 |
| Incorporated Year | 1905 |
| Population | 83,651 |
| City Area | 343.38 km 2 (132.58 sq mi ) |
| Official Website | Peterborough 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.
