Current rates, instant calculator, and everything you need to understand your property tax bill
Toronto's 2025 residential property tax rate is 0.627400% of Current Value Assessment (CVA). This is made up of the City levy, education levy, and the City Building Fund levy.
Toronto homeowners pay one of the lowest property tax rates among major Canadian cities, yet because of high home values the actual dollar amount can be significant. The City of Toronto sets its rate annually based on its operating budget, infrastructure needs, and provincial education levies.
Property tax in Toronto is calculated by multiplying your property's Current Value Assessment (CVA) — determined by the Municipal Property Assessment Corporation (MPAC) — by the applicable tax rate. In 2025 the residential tax rate is 0.627400%.
Formula: Annual Tax = CVA × 0.006274
| Home Value | Estimated Annual Tax |
|---|---|
| $500,000 | $3,137/yr ($261/mo) |
| $750,000 | $4,706/yr ($392/mo) |
| $1,000,000 | $6,274/yr ($523/mo) |
Enter your home's assessed value to instantly estimate your annual property tax.
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Toronto offers 11 monthly pre-authorized payments (February–December) or two interim and two final installment options.
You can appeal your assessment through MPAC's Request for Reconsideration (RfR) within 120 days of receiving your Property Assessment Notice. If unsatisfied, escalate to the Assessment Review Board (ARB).