Toronto Property Taxes

Housing affordability is a key TRREB objective and value. A rise in property assessments and taxes can make a difference in housing affordability, especially for first-time buyers, senior citizens, or people on fixed incomes. TRREB staff and volunteer Members work with city officials and the provincial and federal governments to reflect the concerns of existing homeowners, home sellers, buyers, landlords and tenants. Policy changes, such as land transfer taxes or stress tests for mortgages, factor directly into people’s ability to become homeowners. Still, people are taking the plunge. A Statistics Canada study on Toronto housing reported that 59 per cent of resettled refugee families were homeowners, not far off the 65 per cent rate for Canadian-born families.