Ontario provincial LTT only — York Region has no municipal land transfer tax
Concord is a community in the City of Vaughan, York Region — directly adjacent to Toronto's northern boundary at Steeles Avenue. Buyers in Concord pay only Ontario's provincial land transfer tax. No York Region or Vaughan municipal LTT exists (only the City of Toronto levies a municipal LTT in Ontario). On a typical Concord home priced around $1,050,000, the Ontario LTT is approximately $15,475. First-time buyers reduce this to $11,475.
Concord occupies a unique position in the GTA landscape: it borders Toronto's Jane-Finch and Black Creek neighbourhoods at Steeles Avenue, while the Vaughan Metropolitan Centre subway station is 5 minutes north. This geography creates distinct micro-markets within Concord. Properties immediately north of Steeles command lower prices, while homes near the Highway 400 corridor and the VMC station area are subject to intensification premiums and strong investor demand.
Older detached homes in Concord's established areas range from $850,000 to $1.2M. Newer condo construction near Vaughan Metropolitan Centre and Highway 400 starts around $580,000 for smaller units. The area is experiencing significant densification around the subway station, with several mixed-use high-rise towers under construction or recently completed.
Vaughan Metropolitan Centre station — the TTC Line 1 terminus — places Concord within minutes of direct subway service to downtown Toronto. This is the most significant transit asset for Concord buyers: no need to drive to a GO station or navigate surface bus routes, just board the subway and reach Union Station in approximately 50 minutes. For downtown commuters, this is a material daily convenience.
York Region Transit Viva rapid transit routes on Highway 7 and Jane Street provide east-west mobility across Vaughan, connecting Concord to major employment nodes at Vaughan Mills, the Hwy 400 corridor, and York University (just south of Steeles). GO Bus on the Hwy 400 corridor provides additional service.
Concord attracts significant investor interest due to its proximity to the subway, intensification density permissions near VMC, and ongoing population growth in the York Region corridor. Pre-construction condo purchases in the VMC area have demonstrated consistent appreciation. For investors seeking rental income, proximity to York University and Seneca College (Jane/Finch campuses nearby) creates a strong student rental market supplementing the professional rental base.
The Vaughan Metropolitan Centre has been designated as a Regional Centre in the York Region Official Plan, targeted for 25,000+ residents and 11,000+ jobs within the VMC boundary. This planning trajectory makes Concord one of the highest-density future growth zones in the GTA outside of Toronto's downtown core. Buyers purchasing today are acquiring in an area with a clearly articulated intensification trajectory and committed public and private investment.
| Purchase Price Range | Rate | Marginal Tax on Bracket |
|---|---|---|
| $0 – $55,000 | 0.5% | Up to $275 |
| $55,001 – $250,000 | 1.0% | Up to $1,950 |
| $250,001 – $400,000 | 1.5% | Up to $2,250 |
| $400,001 – $2,000,000 | 2.0% | Up to $32,000 |
| Over $2,000,000 | 2.5% | — |
| Price | Ontario LTT (Gross) | FTB Rebate | Net LTT |
|---|---|---|---|
| $630,000 | $9,075 | $4,000 | $5,075 |
| $1,050,000 | $17,475 | $4,000 | $13,475 |
| $1,260,000 | $21,675 | $4,000 | $17,675 |
| $1,470,000 | $25,875 | $4,000 | $21,875 |
Ontario's First-Time Home Buyers' Rebate provides up to $4,000 off your land transfer tax — applied automatically at closing by your lawyer through the provincial Teraview system. To qualify, you must never have owned residential property anywhere in the world. This rebate fully offsets LTT on homes priced up to approximately $368,000 and provides a $4,000 reduction on all higher-priced properties. Most Concord buyers who qualify will reduce their net LTT from $17,475 to $13,475 on a typical home.
Land transfer tax is paid on your closing date. Your real estate lawyer remits it directly to the Ontario government through the land registry system. The funds must be available in the trust account before keys are transferred — LTT cannot be added to your mortgage or HELOC. Budget for it alongside your down payment balance, legal fees, and other closing costs when planning your purchase timeline.
Beyond land transfer tax, typical closing costs include: legal fees ($1,500–$2,500), title insurance ($300–$600), home inspection ($450–$700), and property tax/utility adjustments. If your down payment is under 20%, CMHC mortgage default insurance adds 2.8%–4% of your mortgage amount — this is rolled into your mortgage, not paid in cash at closing. A rough rule: budget 1.5%–3% of the purchase price for all closing costs combined.
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