Property Tax Rates by Canadian City (2026 Estimates on a $700,000 Home)
On a $700,000 home, annual property tax runs from $2,200 in Vancouver to $8,750 in Winnipeg. Approximate 2026 residential rates for nine cities compared.
Property tax is a percentage of assessed value set by each municipality, and it varies about fourfold across major cities. On a $700,000 home the annual bill is roughly $2,200 in Vancouver, $5,000 in Toronto, $4,600 in Calgary, $7,800 in Ottawa, $8,000 in Halifax and $8,750 in Winnipeg. Cities with high home prices have low rates because the same budget is spread across more value, which is why a cheaper house in Winnipeg can cost more in tax than a pricier one in Toronto. These are estimates: your actual bill depends on the assessed value, not the price.
Figures come from the CostToClose property tax calculator.
Approximate 2026 residential rates
| City | Approximate effective rate | Annual tax on $700,000 | Monthly |
|---|---|---|---|
| Vancouver | 0.31% | $2,170 | $181 |
| Calgary | 0.65% | $4,550 | $379 |
| Toronto | 0.72% | $5,040 | $420 |
| Montréal | 0.75% | $5,250 | $438 |
| St. John's | 0.83% | $5,810 | $484 |
| Edmonton | 0.95% | $6,650 | $554 |
| Ottawa | 1.11% | $7,770 | $648 |
| Halifax | 1.15% | $8,050 | $671 |
| Winnipeg | 1.25% | $8,750 | $729 |
Estimates based on each city's published 2025–2026 residential rates (municipal plus education/regional levies where applicable), applied to a $700,000 assessment. Checked 14 September 2026. Rates change with each city's budget; the calculator's defaults are updated annually and can be overridden.
Why the rate and the bill move in opposite directions
A city sets its budget, then divides it by the total assessed value of all property to get the rate. Vancouver's total assessment is enormous, so its rate is tiny; Winnipeg's is small, so its rate is high. Comparing rates across cities tells you almost nothing about what a house costs to hold; comparing bills at the same price does.
Assessment vs price
Tax is charged on the assessed value from the provincial or municipal assessor (MPAC in Ontario, BC Assessment, the City of Calgary, etc.), not on what you paid. In Ontario, assessments are still based on January 2016 values pending a province-wide reassessment, so a Toronto home selling for $700,000 may be assessed at $500,000 and taxed on that. In BC and Alberta, assessments track the market annually. When estimating, use the assessed value from the listing or the assessor's website if you can; the calculator accepts either.
Worked example from the calculator
Two buyers with $700,000, one in Toronto and one in Winnipeg:
| Metric | Toronto | Winnipeg |
|---|---|---|
| Purchase price | $700,000 | $700,000 |
| Approximate annual tax | $5,040 | $8,750 |
| Monthly, for the mortgage stress test | $420 | $729 |
| Income needed at 39% GDS (10% down, 4.49%) | ≈ $150,400 | ≈ $159,900 |
The Winnipeg buyer needs about $9,500 more income to qualify for the same price, purely because of property tax. Reproduce this.
What changes the number
- Assessment lag (Ontario, Quebec): lower assessed values than market.
- Homeowner grants and deferrals. BC's homeowner grant reduces the bill for principal residences under a value threshold; several provinces let seniors defer.
- New construction. Often taxed on land only until the assessor catches up, then a supplementary bill.
- Condos. Assessed and taxed like houses; the condo fee is separate.
- School board or regional levies. Included in the estimates above where they appear on the same bill.
Frequently asked questions
Which Canadian city has the highest property tax?
Among large cities, Winnipeg, at roughly 1.25% of assessed value, followed by Halifax and Ottawa. Vancouver has the lowest rate, about 0.3%.
How is property tax calculated in Canada?
Assessed value × the municipal rate (plus education or regional levies where applicable). The assessor sets the value; the city sets the rate each budget year.
Is property tax based on purchase price?
No. It is based on the assessed value, which may be well below the purchase price in provinces with assessment lag, such as Ontario.
How much is property tax on a $700,000 house in Toronto?
About $5,000 a year at 2026 rates if assessed at $700,000; less if the MPAC assessment is lower, as it often is.
Does property tax count in mortgage qualification?
Yes. The monthly tax is part of the gross debt service ratio, so higher-tax cities require more income for the same price.
Sources
- City of Toronto, City of Vancouver, City of Calgary, City of Edmonton, City of Ottawa, Ville de Montréal, Halifax Regional Municipality, City of Winnipeg, City of St. John's — 2025/2026 residential tax rates — checked 14 Sept 2026
- Municipal Property Assessment Corporation (Ontario) and BC Assessment, assessment methodology — checked 14 Sept 2026
This guide gives general information for Canadian home buyers and sellers, checked against the sources listed above on the date shown. It is not legal, tax, or mortgage advice. Because rules and rates change, confirm current figures with your lawyer or notary, your lender, or the government office that administers the tax before relying on them.