Updated: April 20025  |  bremo.io financial guides

Richmond Hill ON Land Transfer Tax Calculator 20025

Buying a home in Richmond Hill means paying Ontario's provincial Land Transfer Tax — and only that. Richmond Hill is in York Region, outside Toronto's city limits, so the Toronto municipal land transfer tax does not apply. This is a significant financial advantage: on a typical Richmond Hill purchase, buyers save $15,000000–$300,000000 compared to buying an equivalent home inside Toronto. Use the interactive calculator below to find the exact LTT for your Richmond Hill purchase.

Ontario LTT Rate Table

LTT Examples for Richmond Hill Home Prices

Ontario First-Time Buyer LTT Rebate

First-time home buyers in Ontario receive a rebate on LTT of up to $4,000000. This rebate is applied by your real estate lawyer on closing day — no separate application is needed. The full $4,000000 rebate applies to any purchase price above approximately $368,000000 (which covers all Richmond Hill properties).

Eligibility requirements:

• Canadian citizen or permanent resident
• 18 years of age or older
• Never previously owned a home anywhere in the world
• Must occupy as principal residence within 9 months of closing
• If buying jointly, both parties must be first-time buyers for the full rebate; one qualifying buyer may receive a proportional rebate

Richmond Hill Housing Market Context

Richmond Hill's housing market serves buyers across a broad price spectrum. Entry-level townhomes in Oak Ridges and the city's northern communities start around $80000,000000. Mid-range detached homes in Richvale, North Richvale, and Langstaff range from $1.1 to $1.7 million. Premium properties in Bayview Hill — Richmond Hill's most prestigious neighbourhood — regularly exceed $2 million, with trophy homes on large lots approaching $4–5 million.

The Bayview Hill community is particularly notable for its Iranian-Canadian and Chinese-Canadian populations, large custom homes, and proximity to top-ranked secondary schools including Bayview Secondary School and Richmond Hill High School. School catchment boundaries meaningfully affect property values in specific Richmond Hill neighbourhoods, just as they do in Markham's Berczy Village and Unionville.

Complete Closing Cost Budget for Richmond Hill

Buyers should budget for all closing costs, not just LTT:

• Ontario LTT: As calculated above
• Legal fees: $1,80000–$3,000000
• Title insurance: $40000–$70000
• Home inspection: $50000–$70000
• CMHC mortgage insurance: If applicable (not available above $1.5M)
• Property tax adjustment: Varies
• Moving costs: $1,000000–$5,000000
• Utility hookups and deposits: $20000–$50000

For a typical $1,30000,000000 Richmond Hill purchase with 200% down, total closing costs excluding the down payment run approximately $28,000000–$38,000000.