Updated Checked by the Tax-Services.ca editorial team How we check
Property tax in Toronto for 2026 is your home’s assessed value times 0.767311% for a residential property. On a $692,140 assessment that’s about $5,311 a year, which is the example the City of Toronto itself uses. The rate covers the city, the schools and the City Building Fund.
What is inside the 2026 rate?
One number is printed on your bill, but it’s really three added together. Most of it pays for city services. About a fifth goes to education, and a very small slice funds the City Building Fund. These are the rates on the City’s property tax rates and fees page.
| Part of the residential rate | 2026 rate |
|---|---|
| City tax | 0.605295% |
| Education tax | 0.153000% |
| City Building Fund | 0.009016% |
| Total residential rate | 0.767311% |
Commercial and other property classes have their own rates. The table is for homes only.
How much will your bill be?
Multiply the assessed value on your notice by the total rate. That’s the whole method. Here’s what it gives at a few values.
At $692,140 the tax is about $5,310.87 before rounding, and Toronto rounds it to $5,311. At $850,000, say a semi in Leslieville, it’s $6,522.14, or roughly $544 a month. At a $1,000,000 assessment it’s $7,673.11, about $639 a month. Of that, $6,052.95 is city tax, $1,530.00 is education and $90.16 is the building fund.
You can try your own value in the property tax calculator. It offers a mill rate mode too, so you can enter 7.67311 mills instead of a percentage. Note that the assessed value is not what your house would sell for. It’s a figure set on a fixed date, so it can sit well below today’s market. Treat any monthly figure here as a ballpark, since you pay on the City’s instalment dates and not on your own calendar.
Small changes in value move the bill less than you’d think. A $30,000 higher assessment adds $230.19 a year, about $19 a month. That’s why a fight over a modest assessment gap often isn’t worth the paperwork, while a gap of $200,000 or more, worth about $1,535 a year in tax, deserves a look.
When is Toronto property tax due?
The City lists two bills a year for 2026, each paid in three instalments.
| Bill | Due dates |
|---|---|
| Interim | March 2, April 1, May 1 |
| Final | July 2, August 4, September 1 |
The City’s rates page doesn’t say how the interim bill is calculated or what the late penalty percentage is. Look at your own bill for the penalty terms before you skip a date. The fees that are listed are small, though they add up: $31.06 for a final notice on an overdue account, $47.27 for a payment that bounces, and $90.33 for a tax certificate. Those are the 2026 amounts.
Is the vacant home tax part of it?
Short answer, no.
It’s a separate charge, and every residential owner in Toronto has to make a declaration for it even when they live in the house. Since the 2024 tax year the rate is 3% of the assessed value.
Our vacant home tax guide covers who pays it and how to avoid a bill you don’t owe.
Common mistakes with a Toronto bill
People budget from the sale price instead of the assessment, and that gets the number wrong in both directions. Others forget that the rate changes each year, so last year’s bill is only a rough guide.
Buying? Property tax is one line in your monthly costs. The condo ownership cost calculator puts it beside fees and utilities. To see what you can carry with a mortgage as well, try the mortgage affordability calculator. And on closing day, the closing costs calculator adds the one-time costs, land transfer tax included.
If you think your assessment is too high, the City has a page on assessments and appeals. The appeal deadline isn’t something we could confirm, so start there and don’t wait.
What if you can’t pay a bill on time?
Call the City before the due date, not after. A missed instalment can bring a penalty, and even a few bucks of fees feel worse when they were avoidable, and an account that stays overdue can bring a final notice and its $31.06 fee. Ask what payment options exist for your situation rather than guessing, and keep a note of who you spoke to and when. If the bill is a surprise because you just bought, check the assessed value on your notice against the figure you used in your budget before you panic.
Sources, and how we checked them
Rates, fees and due dates are from the City of Toronto property tax pages for 2026, read in September 2026. The example bills use those rates and the maths in our calculator. This site isn’t run by the City.
Frequently asked questions
What is the 2026 residential property tax rate in Toronto?
The City lists a total of 0.767311%, made up of city tax, education tax and the City Building Fund.
What is the assessed value?
It is the value the assessment on your notice puts on the property. It is not the market price.
When are the 2026 instalments due?
Interim bills fall on March 2, April 1 and May 1. Final bills fall on July 2, August 4 and September 1.
What is the vacant home tax rate?
The City says it is 3% of the property's assessed value from the 2024 tax year.
Does the calculator use my exact bill?
It multiplies value by rate. Your bill may include other items, so check the amounts against your notice.
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