Canadian Cities With The Highest And Lowest Property Tax Rates

In the ever-expanding Canadian housing market, where the average home price now stands at a staggering $500,000, aspiring homeowners and real estate developers are confronted not just with the upfront costs but also the often-overlooked aspect of property tax rates.

What Are Property Taxes?

In short, property taxes are mandatory charges imposed by local governments on property owners, calculated based on the assessed value of the property and utilised to fund essential public services and community development.

These rates can fluctuate significantly depending on the city, impacting the overall cost of property ownership. Keep reading to explore the Canadian cities with the highest and lowest property tax rates, shedding light on the financial landscape for both homeowners and real estate developers.

Highest Property Tax Rates per City

– Winnipeg, Manitoba

Despite an average home price of $344,600, residents in Winnipeg face a property tax rate of 2.6439%, resulting in an annual tax payment of $9,111.

– Guelph, Ontario

Guelph boasts a relatively lower property tax rate of 1.229079%, yet residents pay the most annually in taxes – a staggering $10,134. This is due to the city’s higher average home price above 800K. 

– Sault Ste. Marie, Ontario

With a tax rate of 1.720655%, residents in Sault Ste. Marie pay $4,759 per year on an average-priced $276,600 home.

– Regina, Saskatchewan

Property tax rates above 1.5% place Regina in the list of cities with high property taxes.

– Saint John, New Brunswick

Residents in Saint John experience a tax rate above 1.5%, contributing to a significant annual property tax burden.

– Charlottetown, Prince Edward Island

This city, with property tax rates surpassing 1.5%, adds to the challenges faced by homeowners in Atlantic Canada.

Lowest Property Tax Rates per City

– Vancouver, British Columbia

Despite having some of the highest home prices in Canada, Vancouver boasts the lowest property tax rates. With an average home cost of $1,188,000, the property tax rate is just 0.27807%, translating to an annual payment of just over 3K. 

– Abbotsford, Kelowna & Victoria, British Columbia

These cities maintain property tax rates under 0.45%, resulting in annual payments ranging from $3,006 to $4,193 on the average-priced home.

– Montreal, Quebec

With a property tax rate of 0.5305% and an average home price of $519,200, Montreal residents pay $2,754 annually, marking the lowest figure for average-priced properties.

– St. John’s, Newfoundland and Labrador

Residents pay less than $3,000 per year in property taxes on an average-priced home due to a property tax rate of 0.83%. 

– Toronto, Ontario

Toronto property tax has a rate of 0.666274% and an average home price of $1,196,101, resulting in an annual tax payment of just $7,969.

Partner With Conder Development for Your Real Estate Development Investments in Canada

In the intricate landscape of Toronto real estate development, Conder Developments emerges as the preferred real estate development company of choice. We understand the market dynamics, tax values, and the unique challenges faced by real estate developers. 

Partner with us to maximise your investment potential, ensuring that your real estate ventures align with the financial landscape of the Greater Toronto Area! Contact us today to chat with our real estate development team about Toronto property tax, real estate development and the other moving pieces of home and commercial development in the area.

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