The Ontario Cities with the Highest Property Taxes
Published on 29 August 2022, 07:22:56 AM
Before you buy a home or land, check out these cities with the highest property taxes in Ontario.
Your property taxes fund local police and fire services, libraries, rec centres, roads, transit, recyling, and more (schools are covered by the provincial education tax). Taxes are municipalities’ biggest revenue source, explaining why:
- new residential subdivisions are popping up all over Ontario
- death and taxes are such contentious topics.
If you thought your residential taxes are high, imagine what commercial and industrial rate payers must feel. Greater Toronto Area commercial property tax rates were over twice what homeowners paid in 2019, and industrial taxes were three times residential property rates.
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Heads up, Ontario property value assessments are frozen at 2016 levels until 2024. You have COVID-19 to thank for that.
Why Comparing Tax Rates Matter
You get what you pay for, and moving to cities with the highest property taxes in Ontario may be smarter than you think.
Large cities have more homeowners to share the grief with, and more services. Smaller places may have high taxes for fewer rate payers, but a better quality of life. Just ask the 1.8 million residents who live in Ontario’s 89 towns, average population 22,316.
Questions to ask real estate lawyers.
What’s In Tax Rates for Business Owners
It’s true commercial and industrial rates can dictate which cities have the highest property taxes in Ontario. Businesses migrate where they can make the greatest profit, and that requires a competitive tax regime.
So before you invest in or move to a city that boasts it has a business improvement association (BIA), take a look around for tell-tale signs the economy is healthy:
- Large employers.
- Low unemployment, or higher than average wages.
- Thriving main streets and shopping areas.
- Reliable, frequent bus service.
- Plentiful dental and medical offices.
- Good schools near your neighbourhood.
They’re all potential signs commercial and industrial tax rates are attracting businesses that are helping your city’s economy thrive.
Finding a real estate closing lawyer in Ontario.
Comparing Highs and Lows
So what city has the highest property taxes, and the lowest? Zoocasa compared cities across Ontario to find the differences.
Which City Has the Highest Property Taxes in Ontario
Automotive City Windsor, home to the busiest U.S.-Canada commercial border crossing in Canada, leads cities with the highest property taxes in Ontario at 1.81%.
That’s three times what you would have paid in Toronto in 2021. Of course, home prices in Windsor averaged $535,452, compared to $1.09 million in Toronto when Zoocasa compiled its list last November.
Thunder Bay, Sault Ste. Marie, North Bay, and Sudbury were next in line, all at under 1.6%. Sudbury backstopped the Northern Ontario cities with a 1.54% residential tax rate.
Documents to give your real estate lawyer in Toronto.
Which City Has the Lowest Property Taxes in Ontario
The Greater Toronto Area fared well in comparison. Five GTA cities ranked as the cheapest Ontario cities for rate payers. Milton posted the highest rate (0.68%), followed by Vaughan, Richmond Hill, Markham, and Toronto, which recorded Ontario’s lowest property tax rate (0.61%).
Capital city Ottawa was right in the middle at 1%, with Pickering, Ajax, and Waterloo in close pursuit at just slightly less than 1.1%.
Why are Property Taxes So High in Windsor?
The explanation is easy, Windsor’s chief financial officer Joe Mancina told CBC News. Taxes go down when home values increase. And Windsor real estate just happens to be cheaper than in Toronto.
Take away: your home’s age, size, type, location, and condition all impact your Municipal Property Assessment Corporation (MPAC) results.
Why You Need a Real Estate Lawyer
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25 questions to ask real estate lawyers.
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Your lawyer’s role in buying an Ontario home.
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