Mortgage & Land Transfer Tax Calculator
Land Transfer Taxes are payable to the Province of Ontario and to the City of Toronto when you buy inside the city boundaries.
If you purchase a property for $260,000 in Ontario, for example, .5 per cent is charged on the first $55,000, 1 per cent is charged on $55,000 – $250,000, while the $250,000 – $400,000 range is taxed at 1.5 per cent. Your total tax bill? $2,375.00.
The following chart illustrates Land Transfer Taxes for Ontario.
| ONTARIO |
|---|
| Land Transfer Tax Up to $55,000 X .5 % of total property value From $55,000 to $250,000 X 1 % of total property value From $250,000 to $400,000 X 1.5 % of total property value From $400,000 up X 2 % of total property value |
| TORONTO |
|---|
| Land Transfer Tax Up to $55,000 X .5 % of total property value From $55,000 to $400,000 X 1 % of total property value From $400,000 up X 2 % of total property value |
Use the form below to calculate your mortgage as well as the amount of land transfer tax you will have to pay.
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