Money
Property tax & assessment
Estimate annual property tax from an assessed value — any property class.
- City tax$5,448
- Education$1,377
- City Building Fund$81
- Total$6,905.80
2026 rates by property class
| Class | City | Education | City Building Fund | Total |
|---|---|---|---|---|
| Residential | 0.605295% | 0.153000% | 0.009016% | 0.767311% |
| Commercial general | 1.411477% | 0.880000% | 0.010509% | 2.301986% |
| Industrial | 1.514233% | 0.880000% | 0.022541% | 2.416774% |
| Multi-residential | 1.047960% | 0.153000% | 0.007832% | 1.208792% |
| New multi-residential | 0.605295% | 0.153000% | 0.009016% | 0.767311% |
| Commercial — small business subclass | 20% off every component | 1.841589% | ||
Commercial general is taxed at about 3.0× the residential rate per dollar of assessed value, and industrial is higher still — which is why an assessment error costs a commercial owner three times what it costs a homeowner. Eligible commercial properties get the small business subclass applied automatically from a City list; check whether an address is on it.
Assessments are frozen at 2016 values
Every current value in Ontario still uses a January 1, 2016 valuation date. The reassessment cycle was paused and has not been restarted, so the CVA your bill is based on may be a decade out of step with what the property is worth or how it’s used today. That drift is the usual reason an owner appeals.
The Assessment Review Board deadline is March 31 each year. Commercial, industrial, and multi-residential owners can file with the ARB directly — no MPAC Request for Reconsideration first, which residential owners do have to file.
Rates are the City of Toronto’s 2026 property tax rates for every class. Assessed values come from MPAC (user-entered — they are not open data).
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