Land Transfer Tax


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In Toronto, homebuyers are subject to an additional Municipal Land Transfer Tax (MLTT), on top of the provincial LTT. The MLTT is calculated as a percentage of the property value, with different rates applying to different value ranges. The MLTT rates for residential properties in Toronto are:

  • 0.5% on the first $55,000 of the purchase price
  • 1.0% on the amount between $55,000 and $250,000
  • 1.5% on the amount between $250,000 and $400,000
  • 2.0% on the amount over $400,000

So, for example, if you purchased a home in Toronto for $700,000, you would be subject to a provincial LTT of approximately $12,950 and a municipal MLTT of approximately $11,475, for a total land transfer tax of approximately $24,425. It’s important for homebuyers to factor in these taxes when budgeting for their purchase.