Market rates for buying property in Toronto and the GTA are once again at the lowest they’ve ever been historically. Properties are in high
If you are a homeowner in Toronto, then you must be well aware of that “little” bill that comes in your mail every year. Oh you know, comes every spring (and yet always seems like a surprise when you open it) –I am referring to your Toronto property tax bill!
Toronto is projected to spend $9.658 billion this year. Approximately $3.75 billion from that total will come from our property taxes (39%)! So where will it go? Below is a breakdown of your Toronto property tax dollars for this year. It is based on “average” Toronto house with an assessed value of $499,521, pushing the tax bill to $2,598 on an average Toronto home.