| Description | City Tax Rate | Education Tax Rate | City Building Fund | Total Tax Rate |
|---|---|---|---|---|
| Residential | 0.451568% | 0.161000% | 0.002202% | 0.614770% |
| Multi-Residential | 1.032342% | 0.161000% | 0.000000% | 1.193342% |
| New Multi-Residential | 0.451568% | 0.161000% | 0.002202% | 0.614770% |
| Commercial General | 1.243691% | 1.030000% | 0.003060% | 2.276751% |
| Residual Commercial Band 1 |
1.104768% | 1.030000% | 0.002719% | 2.137487% |
| Residual Commercial Band 2 |
1.243691% | 1.030000% | 0.003060% | 2.276751% |
| Industrial | 1.215805% | 1.110878% | 0.002028% | 2.328711% |
| Pipelines | 0.868620% | 1.290000% | 0.004235% | 2.162855% |
| Farmlands | 0.112892% | 0.040250% | 0.000550% | 0.153692% |
| Managed Forests | 0.112892% | 0.040250% | 0.000550% | 0.153692% |
On December 17, 2019 City Council adopted an increase to the City Building Levy by addressing one per cent in 2020 and 2021 to the existing 0.5 per cent increment, and an additional 1.5 per cent annually from 2022-2025, inclusively (Item EX11.26)
The Government of Ontario mandated no tax increase on Multi-Residential property classes.
Starting in 2017, the City Building Fund Levy increased residential property tax by 0.5 per cent, with additional increases of 0.5 per cent each year from 2018 to 2021.
Your property tax bill is calculated by multiplying the current year phased-in property assessment value, as determined by the Municipal Property Assessment Corporation (MPAC), by Council approved City Tax Rate(s) with the City Building Fund Levy and the Education Tax Rate, as set by the Government of Ontario.
Estimated taxes on a residential property with an Assessed Value of $665,600
Estimated property tax = Assessed Value x Residential Total Tax Rate
= $665,600 x 0.614770%
= $4,091.91