Homeowners in Milton, Oakville, Burlington pay among the lowest municipal tax rates in Ontario
Published November 11, 2021 at 12:04 pm
Residents of Burlington, Milton, Oakville and Halton Hills pay among the lowest property taxes in Ontario.
This according to a report by online real estate company zoocasa.com, which recently published its annual list.
The list ranked the 2021 property tax rate of 35 of the largest communities in the province.
Milton leads the way with the fifth lowest rate at .683 per cent, followed immediate by Oakville at .721 per cent. Burlington is eighth at .779 per cent and Halton Hills rounds out the Top 10 at .796 per cent.
The other half of the Top 10 is made up of Toronto, Markham, Richmond Hill, Vaughan and Aurora. The bottom of the list is mostly made up of Northern Ontario communities like Thunder Bay and Sault Ste. Marie, although Windsor sits in last place at 1.818 per cent.
For the homeowner, on a home assessed at $1M, than annual taxes paid would be:
- Toronto – $6,110
- Milton – $6,833
- Oakville – $7,215
- Burlington – $7,795
- Halton Hills – $7,964
- Windsor – $18,186
According to Zoocasa, the list is largely unchanged from 2020.
The company’s advice to would-be homeowners is to look beyond things like down payments, closing costs and monthly mortgage payments when budgeting. Property taxes is one of the major, but less-focused-on, costs of owning a home.
However, even with a higher tax rate, some communities offset that with lower home costs as well as a lower cost of living.
For the full report, visit the Zoocasa website.insauga's Editorial Standards and Policies