Brampton ranks 13th on list of Ontario property tax rates
Published November 9, 2022 at 4:20 pm
Brampton homeowners are paying more property tax than their neighbours in Mississauga and Caledon, but less than those in Hamilton and Durham Region municipalities like Whitby, Oshawa and Pickering.
A new report by real estate company Zoocasa looked at the property tax rates in 35 Ontario cities. The numbers show Bramptonians are paying some 0.98 per cent for their 2022 taxes, or approximately $9,840 for an average-priced home.
The property taxes on an average Mississauga home came in at 0.82 per cent for $8,192, while homeowners in Caledon fared slightly worse at around $8, 238.
Hamilton homeowners are paying an average of $9,839 in property taxes, while Whitby, Oshawa and Pickering were all over teh $10,000 mark.
The lowest 15 are all in the Greater Toronto Area with Toronto itself leading the way with a rate of 0.631 per cent.
Markham, Richmond Hill, Vaughan and Milton had the next lowest rates, while Windsor, Thunder Bay, Sault Ste. Marie, North Bay and Sudbury had the highest.
Property tax rates vary across the province and are based on the size of municipalities, the local council’s operating budgets and the value of the local housing markets. Larger urban centres can offer a lower rate due to the greater number of taxpayers and higher housing prices.
Zoocasa says most prospective homeowners focus their budgeting on upfront costs when considering purchasing, things like down payment, closing costs, mortgage payments and utilities. They suggest adding property taxes to the list.
For the full report visit www.Zoocasa.com.insauga's Editorial Standards and Policies advertising