How is it calculated?
Toronto buyers pay Ontario land transfer tax plus the City's municipal land transfer tax (MLTT). The MLTT matches Ontario's brackets to $2 million, then rises in steps above $3 million (revised April 1, 2026). First-time buyers get up to $4,475 back on the MLTT.
| Portion of price | Rate |
|---|---|
| Up to $55,000 | 0.5% |
| $55,000–$250,000 | 1.0% |
| $250,000–$400,000 | 1.5% |
| $400,000–$2M | 2.0% |
| $2M–$3M | 2.5% |
| $3M–$4M | 4.4% |
| $4M–$5M | 5.45% |
| $5M–$10M | 6.5% |
| $10M–$20M | 7.55% |
| Over $20M | 8.6% |
Worked example
$900,000 home in Toronto
Ontario LTT: $14,475
Toronto MLTT: $14,475
Total: $28,950
First-time buyer rebates: −$8,475
What should I do with the result?
Use it to set a budget or a target rate, then let lenders bid on your actual mortgage. Bids include rate, penalty method, prepayment and fees, so you can compare the full cost.
Frequently asked questions
Do I pay both taxes in Toronto?
Yes, both Ontario and municipal land transfer tax.
MBWritten by the MortgageBids.ca editorial team. Last updated October 7, 2026. General information only; your lender confirms terms for your file.
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