property tax toronto

Here's how much Toronto property taxes are going up this year

Toronto city council is meeting today to consider the 2020 capital and operating budgets, and property tax increases for the year have officially been approved

In a vote of 21 to three, council voted to adopt Toronto’s 2020 property tax rates which will see the average homeowner pay about $128 more for a home priced at $703,232. 

The official property tax rates include a residential increase of 2 per cent for the operating budget and 1.5 per cent for the city building fund — a levy implemented three years ago to help support new transit and housing initiatives across Toronto. 

With these approved increases, according to the Toronto Star, the average residential property tax bill will be $3,141 in 2020. 

"With the tax rates set, the largest chunk of city revenue is locked in," journalist Matt Elliott wrote on Twitter earlier today.  

According to Toronto Star journalist David Rider, Toronto council sets the property tax rate before deciding what gets funded by how much. On Twitter, he said they used to debate individual items and then the tax hike determined by total spending, but this changed under Rob Ford.

Rider also tweeted that Mayor John Tory said Toronto residents have accepted the bigger tax hike — which he originally proposed several months ago — because it’s a reasonable increase and council has clearly indicated where the money will go. 

Lead photo by

Laura Tuttle


Join the conversation Load comments

Latest in City

Toronto Public Library loans 3D printers to hospital to make face shields for healthcare workers

This is why Toronto doesn't have any drive-thru testing for COVID-19

Donation bins in Toronto are no longer accepting clothes due to COVID-19

Toronto man forced to move his family amid COVID-19 pandemic and he's scared

This is what it's like being an Uber driver in Toronto during the COVID-19 pandemic

Toronto might close part of Yonge Street to cars to allow pedestrians to social distance

Signs on the Danforth show just how much life has changed in Toronto's Greektown

Toronto confirms 118 new cases of COVID-19 in the city