Property tax in Ontario

Ontario rates are percentages of assessed value; for example, Toronto's 2026 total residential rate is 0.767311%, so the City's worked example, a home assessed at $692,140, comes to about $5,311 (692,140 x 0.767311%).

The Province sets education property tax rates by regulation. O. Reg. 400/98, s. 1 (1): "For 2026, the tax rate for school purposes for residential property is prescribed as 0.153 per cent of the assessed value of the property." For the farm and managed forests property classes the 2026 rate "is 0.03825 per cent of the assessed value of the property." This residential rate is the same across the province. Business classes such as commercial and industrial have rates that vary by municipality (Table 1 of the regulation), and the 2026 rate for the aggregate extraction property class is 0.00511000, a fraction of assessed value (0.511 per cent); the regulation's business tables are "expressed as fractions of assessed value."

Municipalities collect the education tax on the same bill. The 2026 Ontario Budget says planned legislative changes would mean that "beginning in 2028, municipalities would remit EPT directly to Ontario" rather than paying school boards.

Billing schedules are set by each municipality, so due dates and the number of instalments vary. Under the Municipal Act, a local municipality may pass an interim levy by-law "before the adoption of the estimates for the year", with the final levy following once the year's rates are set. The interim levy is capped: the amount "shall not exceed the prescribed percentage, or 50 per cent if no percentage is prescribed, of the total amount of taxes for municipal and school purposes levied on the property for the previous year."

The treasurer must send a tax bill "at least 21 days before any taxes shown on the tax bill are due." Late-payment penalties and interest are set by local by-law, each capped by the Act at 1 1/4 per cent (interest: "1 1/4 per cent each month").

Toronto example for 2026: "The interim bill is mailed in January and is usually about 50 per cent of your annual taxes"; the final bill "is mailed in May". See Toronto property tax.

No reassessment since 2016. Ontario has postponed its province-wide reassessment. O. Reg. 282/98, s. 48.6 sets January 1, 2016 as the valuation day "for the 2021, 2022, 2023, 2024, 2025 and 2026 taxation years." As of October 28, 2026, the Province has not published a valuation date for 2027. The 2026 Budget says only that the government "continues to receive feedback on approaches that could make the property assessment and taxation system more effective."

Farm and managed forest land. Tribunals Ontario says eligible farmland and managed forest properties are "taxed at 25 per cent of the municipal residential rate".

Provincial relief programs. Provincial programs for individuals include the Ontario Energy and Property Tax Credit, the Northern Ontario Energy Credit and the Ontario Senior Homeowners' Property Tax Grant.