Instantly calculate Ontario LTT for Newmarket's real estate market — including first-time buyer rebates.
When you buy a home in Newmarket, you pay Ontario's provincial land transfer tax (LTT) at closing. Newmarket is not subject to any additional municipal land transfer tax — only the provincial rate applies.
| Purchase Price Portion | Tax Rate |
|---|---|
| First $55,000 | 0.5% |
| $55,001 – $250,000 | 1.0% |
| $250,001 – $400,000 | 1.5% |
| $400,001 – $2,000,000 | 2.0% |
| Over $2,000,000 | 2.5% |
Newmarket is York Region's commercial hub and one of Ontario's fastest-growing municipalities.
The town blends a vibrant historic Main Street district with modern suburban development and strong transit connections via GO Train and the Viva rapid transit network.
Newmarket is home to Southlake Regional Health Centre, one of Ontario's leading hospitals, which is also a major local employer. GO Transit service connects the city to Toronto Union Station, attracting commuters and boosting real estate demand.
Newmarket attracts buyers from Toronto and southern York Region seeking more space and value. The recent Glenway development has added hundreds of new homes. Detached homes in Newmarket generally offer more square footage per dollar than communities closer to the city.
At the Newmarket average home price of $950,000, the Ontario land transfer tax works out to approximately $14,975. First-time buyers can offset up to $4,000 of that amount through the provincial first-time buyer (FTB) rebate, reducing their net LTT to $10,975.
Use the calculator above to enter your specific purchase price and get an instant, precise Ontario LTT calculation for Newmarket.
Ontario's First-Time Home Buyer LTT Rebate provides up to $4,000 back to eligible buyers. To qualify:
In Newmarket, where average prices are around $950,000, the rebate covers a meaningful portion of the total LTT bill. Use the calculator above to see your exact net cost after rebate.
One of the biggest financial advantages of buying in York Region versus the Greater Toronto Area is the significantly lower land transfer tax burden. Consider:
| Location | Avg. Price | Ontario LTT | Toronto MLTT | Total LTT |
|---|---|---|---|---|
| Newmarket | $950,000 | $14,975 | N/A | $14,975 |
| Toronto (avg ~$1,100,000) | $1,100,000 | $16,475 | $16,475 | $32,950 |
| Aurora (avg ~$1,050,000) | $1,050,000 | $16,475 | N/A | $16,475 |
Buying in Newmarket can save you thousands of dollars in land transfer tax compared to purchasing in Toronto — money you can put toward your down payment, renovations, or an emergency fund.
Newmarket's Main Street has been a commercial centre since the early 1800s and remains one of Ontario's most celebrated heritage commercial streetscapes. The community was a centre of the Upper Canada Rebellion of 1837, led by William Lyon Mackenzie.
Popular areas in Newmarket include Main Street District, Huron Heights, Armitage Village, Bristol-London, and Glenway. Home prices can vary significantly by neighbourhood — use the calculator above with your specific target price for a precise LTT estimate.
Beyond land transfer tax, Newmarket buyers should budget for these closing costs:
For a comprehensive overview of Ontario LTT rules and all city calculators, visit bremo.io/ontario-land-transfer-tax. You can also explore our guide to the best banks in Ontario to maximize your savings before and after your home purchase.
While you can't avoid LTT, you can save on banking fees. KOHO is free forever — save hundreds per year to put toward your Ontario home purchase.
Get KOHO Free — Code 45ET55JSYADoes Newmarket have a municipal land transfer tax?
No. Only the City of Toronto charges a municipal LTT in Ontario. Buyers in Newmarket pay only the provincial Ontario LTT.
When is land transfer tax paid?
LTT is collected by your real estate lawyer at closing (the day you take possession). You cannot pay it separately or in installments — it must be available on closing day.
Is land transfer tax deductible?
No. Ontario LTT is not income-tax deductible for personal residential purchases. It is a one-time closing cost added to the adjusted cost base of your property for capital gains purposes if you ever sell.
What if I'm buying with a partner?
Each owner on title shares the LTT liability. The first-time buyer rebate is only available if all buyers qualify as first-time buyers. If your partner has owned a home before, you cannot claim the rebate.
How much is land transfer tax on a $950,000 home in Newmarket?
On a $950,000 purchase price, Ontario LTT is approximately $14,975. First-time buyers who qualify for the provincial rebate would pay $10,975 net after the $4,000 rebate.