Property Taxes - York Region

York Region Property Taxes 2023

The Regional Municipality of York is responsible for setting and collecting property taxes in the region. Every year, the York Region sets a budget to cover its expenses and to provide services to its constituents. The York Region Property Tax for 2023 will be determined once the York Region Budget is finalized. 

York Region property taxes are based on the assessed value of a property and a tax rate set by the York Region. Property owners can use the York Region’s property tax calculator to estimate their taxes for 2023. The City of York Region also offers a tax deferral program for eligible property owners. Property owners can apply for a tax deferral to reduce their current tax burden and spread out their payments over a longer period of time.

How is the York Region property tax rate determined?

The York Region Property Tax Rate is based on the assessed value of your property. The tax rate is determined annually by the York Regional Council. The rate can vary by municipality and is typically lower than the provincial average. The Regional Council sets the tax rate for each municipality on a yearly basis. As such, the exact amount of taxes you will owe may change from year to year. For more information, please contact your local municipality or the York Region Finance Department.

Rental Property Tax Deductions

Rental property owners in York Region are eligible for certain tax deductions on their rental property income. These deductions may include expenses such as mortgage interest, property taxes, repairs and maintenance, and insurance premiums. It is important to keep accurate records of these expenses to ensure that they are properly deducted when filing taxes. Additionally, owners may be eligible for provincial and federal income tax credits as well as deductions on capital costs. It is important to speak to a tax professional to determine which deductions and credits are applicable to you.​​​​​​​​​​​​​​

Ontario Energy and Property Tax Credit

The Ontario Energy and Property Tax Credit (OEPTC) is a refundable tax credit available to eligible Ontario residents to help them with their energy and property tax costs. To be eligible for the credit, you must be a resident of Ontario, have to pay property taxes or rent a home, and be a Canadian citizen or permanent resident. The OEPTC provides a maximum of $1,025 per household in tax credits, with a maximum of $300 for energy costs and $225 for property taxes. The credit is also available to low-income seniors and to people with disabilities.

The OEPTC is an important source of financial assistance for many Ontario residents. The credit can help to reduce the burden of energy and property tax costs, allowing people to keep more of their money in their pockets. It is important to note that the OEPTC is a refundable credit, meaning that if you are eligible and apply for the credit, you will receive a refund even if you have no income tax payable.

Do you have a property transfer tax calculator?

Fortunately, we do have a property transfer tax calculator on our site. Additionally, we do provide helpful information on how to calculate the cost of a property transfer tax in the York Regional Area.