Instantly calculate Ontario LTT for Parry Sound's real estate market — including first-time buyer rebates.
When you buy a home in Parry Sound, you pay Ontario's provincial land transfer tax (LTT) at closing. Parry Sound 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% |
Parry Sound, on the eastern shore of Georgian Bay, is the gateway to 30,000 Islands cottage country. Rising demand from Toronto buyers has pushed average prices to around $500,000.
Parry Sound's proximity to Georgian Bay and Toronto's cottage crowd has driven average prices toward $500,000. While still below GTA levels, buyers should budget carefully for land transfer tax on these higher prices.
At the Parry Sound average home price of $500,000, the Ontario land transfer tax works out to approximately $6,475. 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 $2,475.
Ontario's First-Time Home Buyer LTT Rebate provides up to $4,000 back to eligible buyers. To qualify:
In Parry Sound, where average prices are $500,000, the rebate covers a meaningful portion of the total LTT bill. Use the calculator above to see your exact net cost.
One of the biggest financial advantages of buying in Central Ontario / Cottage Country versus the Greater Toronto Area is the dramatically lower land transfer tax. Consider:
| Location | Avg. Price | Ontario LTT | Toronto MLTT | Total LTT |
|---|---|---|---|---|
| Parry Sound | $500,000 | $6,475 | N/A | $6,475 |
| Toronto (avg ~$1,100,000) | $1,100,000 | $16,475 | $16,475 | $32,950 |
| Mississauga (avg ~$900,000) | $900,000 | $12,475 | N/A | $12,475 |
Buying in Parry Sound can save you thousands of dollars in land transfer tax alone — money that can go toward your down payment, renovations, or emergency fund.
Beyond land transfer tax, Parry Sound buyers should budget for these closing costs:
Popular areas in Parry Sound include Waubuno Beach, Bowes Street, and Tower Hill. Home prices can vary significantly by neighbourhood — use the calculator above with your target price for a precise LTT estimate.
For a comprehensive overview of Ontario LTT rules and all city calculators, visit bremo.io/ontario-land-transfer-tax.
Earn cash back on everyday spending while you save for closing costs. New KOHO members get a $100 bonus with referral code:
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Claim $100 KOHO Bonus →Does Parry Sound have a municipal land transfer tax?
No. Only the City of Toronto charges a municipal LTT in Ontario. Buyers in Parry Sound 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.