Toronto homeowners are facing one of the largest property tax hikes in the city’s history, as part of Mayor Olivia Chow’s plan to tackle the city’s massive infrastructure and service funding gap.
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This latest tax increase, set at 9.5%, comes after last year’s significant bump and is aimed at addressing overdue repairs to public transit, aging watermains, and other critical capital projects. With over $1 billion in ongoing construction across the city, funding has to come from somewhere—and this time, it’s homeowners who will bear the brunt.
But how much more will you actually pay? And when are your new tax bills due? Let’s break it all down.
📈 How Much More Will Toronto Homeowners Pay in 2025?
The 2025 property tax increase translates to an average of $268 more per year for Toronto homeowners.
✔️ Why Is This Happening?
- Toronto’s backlog of infrastructure projects and public services requires urgent funding.
- The city needs more money to support transit expansion, road repairs, and aging water systems.
- Property tax rates in Toronto have historically been lower than in other major cities, but real estate costs and the cost of living are much higher.
Mayor Olivia Chow has defended the tax hike, arguing that it’s necessary to fund basic services and capital improvements that have been long neglected.
What Tax Refund You can Get in Canada 2025?
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Canada Capital Gains Tax 2025-2026: Major Changes, New Rates & What It Means for You
💰 Payment Plans & Due Dates for 2025 Property Taxes
If you own property in Toronto, your payment schedule depends on which installment plan you’re enrolled in. Here’s when you need to pay:
📅 Two-Instalment Plan (Annual Payments)
✔ Interim Tax Bill Due Date → March 3, 2025
✔ Final Property Tax Bill Due Date → July 2, 2025
📅 Six-Instalment Plan
✔ Interim Tax Bill Due Dates:
- March 3, 2025
- April 1, 2025
- May 1, 2025
✔ Final Tax Bill (Issued in May) Due Dates:
- July 2, 2025
- August 1, 2025
- September 2, 2025
📅 11-Instalment Plan (Monthly Payments)
✔ Interim Tax Bill Due Dates:
- February 18, 2025
- March 17, 2025
- April 15, 2025
- May 15, 2025
- June 16, 2025
✔ Final Tax Bill Due Dates:
- July 15, 2025
- August 15, 2025
- September 15, 2025
- October 15, 2025
- November 17, 2025
- December 15, 2025
💡 Important Reminder:
Failure to pay on time can result in late fees and penalties. If you are on a pre-authorized payment plan, make sure your account information is up to date to avoid any issues.
🏠 Don’t Forget: Vacancy Tax Declaration Due by April 30
Alongside your property tax payments, homeowners must also declare their property’s occupancy status by April 30, 2025.
✔ Why Does This Matter?
- Failing to declare could result in an unwanted vacant home tax bill.
- The City is cracking down on empty investment properties, but regular homeowners could get caught in the crossfire if they miss the deadline.
📢 What This Tax Hike Means for Toronto Homeowners
✔ Higher Costs for Homeowners: With already high mortgage rates, utility costs, and cost of living, this additional tax burden will hit many households hard.
✔ More Pressure on the Housing Market: Rising property taxes could make homeownership even less affordable, particularly for first-time buyers and those struggling with Toronto’s high real estate prices.
✔ Ongoing Infrastructure & Service Upgrades: The tax increase will help fund TTC improvements, road repairs, and city-wide upgrades, but many residents question whether these services will see a real impact in the near future.
🚨 Final Thoughts: How to Prepare for the 2025 Property Tax Hike
With a historic tax increase, rising costs, and multiple payment deadlines, it’s crucial for homeowners to plan ahead.
🔹 Budget for higher payments – If you’re on a fixed income or have a tight budget, start setting aside funds now to cover the extra costs.
🔹 Double-check your payment plan – Ensure you know your installment dates and have sufficient funds available.
🔹 File your vacancy tax declaration – Avoid unnecessary charges by submitting your occupancy status by April 30.
🔹 Stay informed – Watch for updates from the City regarding further tax changes or financial relief programs.
📌 Is the 2025 property tax hike justified, or is it putting too much strain on homeowners? Let us know your thoughts below! ⬇️
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