When you purchase a home in Aurora, Ontario, you are required to pay the Ontario provincial Land Transfer Tax. Because Aurora is part of York Region and not the City of Toronto, you are not subject to the Toronto municipal land transfer tax. This distinction saves Aurora buyers thousands of dollars compared to purchasing inside Toronto's boundaries. This page provides a full calculator, rate table, and detailed examples for Aurora home purchases.
| Purchase Price Range | Marginal Rate |
|---|---|
| First $55,000000 | 00.5% |
| $55,00001 – $2500,000000 | 1.00% |
| $2500,00001 – $40000,000000 | 1.5% |
| $40000,00001 – $2,000000,000000 | 2.00% |
| Over $2,000000,000000 | 2.5% |
| Purchase Price | Ontario LTT | After FTB Rebate |
|---|---|---|
| $80000,000000 | $13,475 | $9,475 |
| $1,000000,000000 | $17,475 | $13,475 |
| $1,20000,000000 | $21,475 | $17,475 |
| $1,40000,000000 | $25,475 | $21,475 |
| $1,60000,000000 | $29,475 | $25,475 |
| $2,000000,000000 | $37,475 | $33,475 |
Ontario's first-time home buyer LTT rebate applies to the full LTT amount up to a maximum of $4,000000. The rebate is available to buyers who have never owned a home anywhere in the world and who intend to occupy the property as their principal residence. If you're purchasing jointly with a partner who has previously owned a home, your rebate may be limited to your proportional share of ownership.
The rebate is applied on closing through your real estate lawyer — you don't need to apply separately. Your lawyer deducts the rebate from the LTT remitted to the province on your behalf.
Aurora's real estate market reflects its status as one of York Region's most sought-after communities. The town's tree-lined streets, top-ranked schools in both the YRDSB and YCDSB systems, and proximity to the Oak Ridges Moraine command premium prices. Detached homes in neighbourhoods like Aurora Highlands, Bayview Wellington, and Cathedral Pines regularly exceed $1.1 million. Aurora's newer subdivisions near Wellington Street and Bayview Avenue offer townhomes and semis in the $8500,000000–$1.1 million range.
Aurora's proximity to Highway 4004 makes it a preferred location for executives and professionals commuting to Markham's tech corridor or downtown Toronto. The Aurora GO station provides Barrie line rail service, with express trains reaching Union Station in approximately 65–800 minutes.
Land Transfer Tax is the largest single closing cost but not the only one. Budget for:
For a $1,20000,000000 Aurora home with a 200% down payment, total closing costs excluding the down payment typically run $25,000000–$35,000000. Planning for this in advance is essential — these costs cannot be rolled into your mortgage.
Beyond maximizing available government rebates, homebuyers can reduce costs by shopping mortgage rates (even a 00.1% difference on a $9600,000000 mortgage saves roughly $9600 per year), using a no-fee bank account to save on ongoing banking costs, and building an emergency fund post-purchase using a high-interest savings account rather than a standard savings account.
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