These 6 Ontario Cities Currently Have The Lowest Property Tax Rates In The Province

At this point, Ontario is well-known for its nearly impossible-to-own real estate. But a new report revealed that property taxes aren't so bad in some Ontario cities, which could make buying a home slightly more attainable.

A report by Zoocasa broke down property tax rates across the province over the past year, which varies greatly depending on where you live.

Property tax is an amount is determined by your home's value, the residential tax rate in your city, and the province's education tax rate.

"Paying your taxes will be a financial obligation over the course of your home's ownership, so it's important to understand how they may impact your household's bottom line," the report said.

The six cities with the lowest property tax rates for 2021 are Toronto, Markham, Richmond Hill, Vaughan, Milton, and Oakville.

Zoocasa

It may seem surprising that Toronto has the lowest property taxes in the province. But, Zoocasa reveals that cities that boast more expensive real estate and have a higher population size usually have lower property tax rates because there are more people contributing to the city's bill and maintaining their operating budget.

Smaller cities have higher property tax rates because they have cheaper real estate and fewer people paying municipal taxes.

The six Ontario cities that have the highest property tax rates are the following (rounded to the nearest hundredth):

1. Windsor - 1.82%
2. Thunder Bay - 1.59%
3. Sault St. Marie - 1.59%
4. North Bay - 1.57%
5. Sudbury - 1.55%
6. St. Catharines - 1.46%

Even though the 6ix has the lowest property tax rate in the entire province, Zoocasa named it as one of the worst cities to buy real estate in Ontario back in July. Oakville, another city with a cheaper property tax rate, was also included in the list.

This article's cover image was used for illustrative purposes only.