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
Licensed mortgage brokers bid alongside banks, credit unions and private lenders on MortgageBids.ca. One broker bid can tap dozens of lenders, and on most prime mortgages the lender pays the broker, not you. Why use a mortgage broker · Get broker and lender bids
What should I do with the result?
Use it to set a budget or a target rate, then let brokers and 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.
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