Tax rates consist of two parts – an education component and a municipal component.
Municipal tax rates are calculated using the net annual operating budget, as approved by Council, and the City’s weighted assessment for the year as provided by MPAC (Municipal Property Assessment Corp.). Revenue from provincial grants, user fees and other sources is deducted from the total expenditures.
The Province of Ontario establishes the education tax rate for each class of property. For the year 2024, the City will levy and forward to the school boards a total of $19 million.
Rates By Property Class
Tax rates are established for each class of property (residential, multi-residential, commercial, industrial, etc.) and are expressed as a percentage of the residential tax rate.
Rates can vary throughout the four billing areas within the municipality due to a process called “area rating” which provides a mechanism for taxpayers to pay for the direct or indirect services they actually receive. Individual areas may be impacted to a greater or lesser extent, depending on the cost of the services, causing tax rate changes to vary by area.
Find out which billing area you reside in using our online Tax Billing Table Map.
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Commercial and Industrial Vacant and Excess Land Reduction Removed
As of 2023, Council has approved the removal of the 30% reduction to tax rates for commercial vacant and excess land and 35% reduction to tax rates for industrial vacant and excess land.