City of Toronto Rates

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City of Toronto Rates 2017-03-22T09:31:37+00:00

For property within the City the tax rates depend on whether the property contains at least one, and not more than two, single family residences. For these single family residences, the rates are as follows:
0.5% of the value of consideration for the transfer up to and including $55,000;
1.0% of the value of the consideration which exceeds $55,000 up to and including $400,000;
2.0% of the amount by which the value of the consideration exceeds $400,000.

By way of example, if the purchase price of a single family home is $500,000, the tax would be calculated as follows:
on the first $55,000 275.00
on the next $345,000 3,450.00
on the last $100,000 2,000.00
Total 5,725.00

For properties other than single family residences the rates are:
0.5% of the value of consideration for the transfer up to and including $55,000;
1.0% of the value of the consideration which exceeds $55,000 up to and including $400,000;
1.5% of the amount by which the value of the consideration exceeds $400,000 up to and including $40,000,000;
1.0% of the amount by which the value of the consideration exceeds $40,000,000.