Property taxes in Toronto are relatively high compared to other cities in Canada and are calculated based on the assessed value of the property.   Toronto has double-taxation on its real estate. Both a Municipal and a Provincial tax.   Property taxes in Toronto are based on the assessed value of the property and are used to fund various local services, such as public schools, police and fire departments, and municipal services.   The average property tax bill in Toronto is approximately 1.5% of the assessed value of the property.   In Toronto, property taxes are due twice a year, on June 30th and December 31st. The amount of the property tax bill is determined by the City of Toronto's Assessment and Taxation Department, which assesses the value of each property in the city and determines the amount of taxes owed based on the current tax rate.   The property tax rate in Toronto is set annually by the City of Toronto, based on the amount of money needed to fund the various services and programs provided by the city. The tax rate can vary from year to year, depending on the city's budget and the level of services provided.   It is important to note that property taxes in Toronto can be quite high compared to other cities, so it is always a good idea to take property taxes into consideration when buying a home or considering a rental property in the city. You can obtain detailed information on property taxes in Toronto, including the current tax rate and the amount of your property tax bill, by contacting the City of Toronto's Assessment and Taxation Department. | Most Searched Real Estate Questions