St. Catharines, Niagara Falls have higher than average property tax rates
Published November 10, 2021 at 12:43 pm
St. Catharines and Niagara Falls have a higher than average property tax level than most major Ontario urban markets.
St. Catharines fares a little worse in that department as only five urban cities in the province have a higher rate, according to a study released by mortgage broker giant, zoocasa.com.
St. Catharines homeowners pay a rate of 1.455746 per cent, meaning if residents have a home assessed at $500,000, they are paying $7278.73 in yearly taxes to the city. A home assessed at $750,000 will pony up $10,918.10 in their tax bill while a $1,000,000 homes is looking at $14,557.46.
At the moment, the average St. Catharines homes costs $681,560.
Only Sudbury, North Bay, Sault St. Marie, Thunder Bay and Windsor have higher property tax rates.
Niagara Falls is closer to the middle of the pack with a 1.30914 per cent property tax rate. A $500,000 house in the city will cost residents $6,545.70 every year while a home assessed at $750,000 to see the city get $9,818.55 annually. A $1 million house in the tourist town will set home-owners back $13,091.40.
The average Niagara Falls home runs $655,782.insauga's Editorial Standards and Policies