| Description | City Tax Rate | Education Tax Rate | City Building Fund | Total Tax Rate |
|---|---|---|---|---|
| Residential | 0.506079% | 0.153000% | 0.007195% | 0.666274% |
| Multi-Residential | 0.967784% | 0.153000% | 0.007064% | 1.127848% |
| New Multi-Residential | 0.506079% | 0.153000% | 0.007195% | 0.666274% |
| Commercial | 1.280528% | 0.880000% | 0.009289% | 2.169817% |
| Industrial | 1.272844% | 0.880000% | 0.018082% | 2.170926% |
| Pipelines | 0.973475% | 0.880000% | 0.013841% | 1.867316% |
| Farmlands | 0.126520% | 0.038250% | 0.001799% | 0.166589% |
| Managed Forests | 0.126520% | 0.038250% | 0.001799% | 0.166569% |
2025 Property Tax Rates
2024 Property Tax Rates
The introduction of the small business tax subclass offers property tax relief to small businesses who meet the eligibility criteria. The small business tax subclass will provide a 15 per cent reduction in the commercial tax rate for eligible properties.
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 property value of $695,268
Estimated property tax = assessed value x total residential tax rate
= $695,268 x 0.666274%
= $4,632.39