Thunder Bay Property Tax Calculator 2021

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The City of Thunder Bay is located north east of Lake Superior in the Thunder Bay District and is home to over 107K residents. Thunder Bay real estate prices have increased by 18% from October 2019 to October 2020 and the median price of a house in Thunder Bay is $274K. The largest group of home buyers in the Thunder Bay real estate market typically consists of first-time home buyers looking for smaller, single-family detached houses, and this trend is expected to continue into 2021 due to a low interest rate environment and First-Time Home Buyer incentives offered to individuals/couples who are looking to buy their first home. Due to the coronavirus pandemic, many home buyers are also looking to move to the suburbs due to remote work, and this demand in Thunder Bay is driven by the comparatively lower housing prices in Thunder Bay compared to other municipalities in Ontario. Luxury homes in Thunder Bay have stayed relatively stable in price due to stable supply and demand. Thunder Bay property tax rates are the 55th lowest property tax rates in Ontario for municipalities with a population greater than 10K.

Thunder Bay 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 Thunder Bay 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.

MCAP Assessed Value of the Property
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2020 Property Tax Value
$7,8137.81k
2020 Residential Property Tax Rate
1.562626 %

2020 Tax rates for Cities Near Thunder Bay

City Final Tax Rate
Elliot LakeNot Available
Timmins1.833323 %
Greater Sudbury1.492189 %
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Thunder Bay 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 Thunder Bay from 2018 to 2020
YearMunicipal RateEducational RateFinal Tax Rate
20201.233581%0.153000%1.562626%
20191.246043%0.161000%1.598484%
2018 1.294045%0.170000%1.637383%
Based on city of Thunder Bay official website:check source

Thunder Bay 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 Thunder Bay's property tax department through the following methods:

Phone number
807-625-2195
Email
taxandwater@thunderbay.ca
Thunder Bay at a Glance
ProvinceOntario
Settled Year1683
Established Year1970
Incorporated Year 1970
Population 107,909
City Area447.5 km 2 (172.8 sq mi)
Official WebsiteThunder Bay Official Website

Property Taxes in Ontario for a $500K MCAP Assessed Value Home*

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.

Property Taxes in Ontario for a $500K Fair Market Value Detached Home*

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 Thunder Bay's final property tax rate.
This calculator is provided for general information purposes only. This calculation may not include any special charges, levies or fees. Results are approximations only. For official and the most up-to-date information, please see your porerty tax bill or contact the relevant taxation authority of your region.