Toronto mortgage calculator
Toronto buyers pay both Ontario’s and the City’s land transfer tax. This calculator includes both, with the new luxury MLTT rates in effect since April 1, 2026.
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Toronto’s double land transfer tax
A home in the City of Toronto pays the Ontario land transfer tax and the Municipal Land Transfer Tax (MLTT). Up to $2 million the two use the same brackets, so the tax roughly doubles. Since April 1, 2026, MLTT rates above $3 million rise to 4.40%, 5.45%, 6.50%, 7.55% and 8.60% at the top.
| Price | Ontario LTT | Toronto MLTT | Total |
|---|---|---|---|
| $800,000 | $12,475 | $12,475 | $24,950 |
| $1,000,000 | $16,475 | $16,475 | $32,950 |
| $1,500,000 | $26,475 | $26,475 | $52,950 |
First-time buyers get up to $4,000 (Ontario) plus $4,475 (Toronto) back, a total of $8,475.
With prices around $1 million, many Toronto buyers need more than the minimum down payment: on $1,000,000 the minimum is $75,000 (5% of $500k + 10% of $500k).
Frequently asked questions
How much is land transfer tax in Toronto?
On a $1,000,000 home: $16,475 Ontario + $16,475 Toronto = $32,950, or $24,475 for a first-time buyer.
When did Toronto’s MLTT rates change?
New rates for homes over $3 million took effect on April 1, 2026. Rates up to $3 million are unchanged.
What is the minimum down payment on a $1 million home?
$75,000: 5% of the first $500,000 ($25,000) plus 10% of the next $500,000 ($50,000).