Calculate Your Land Transfer Tax
How the Ontario Land Transfer Tax Works
The Ontario land transfer tax is calculated on a progressive scale based on the purchase price of the property. The tax rates are:
| Purchase Price Range | Ontario LTT Rate |
|---|---|
| First $55,000 | 0.5% |
| $55,000.01 to $250,000 | 1.0% |
| $250,000.01 to $400,000 | 1.5% |
| $400,000.01 to $2,000,000 | 2.0% |
| Over $2,000,000 | 2.5% |
Toronto Municipal Land Transfer Tax
If you are buying in the City of Toronto, an additional municipal land transfer tax applies:
| Purchase Price Range | Toronto Municipal LTT Rate |
|---|---|
| First $55,000 | 0.5% |
| $55,000.01 to $250,000 | 1.0% |
| $250,000.01 to $400,000 | 1.5% |
| $400,000.01 to $2,000,000 | 2.0% |
| Over $2,000,000 | 2.5% |
Mississauga Advantage: No Municipal Land Transfer Tax
Unlike Toronto, Mississauga does not charge a municipal land transfer tax. This means buyers in Mississauga save significantly on closing costs compared to buying a similar property in Toronto.
First-Time Home Buyer Rebates
- Ontario Provincial Rebate: Up to $4,000 (covers LTT on the first $368,000)
- Toronto Municipal Rebate: Up to $4,475 (for purchases in Toronto only)
Learn more about eligibility in our land transfer tax rebates guide.
Land Transfer Tax Examples
| Purchase Price | Mississauga LTT | Toronto LTT (Both Taxes) | Savings in Mississauga vs Toronto |
|---|---|---|---|
| $500,000 | $6,475 | $12,950 | $6,475 |
| $700,000 | $10,475 | $20,950 | $10,475 |
| $1,000,000 | $16,475 | $32,950 | $16,475 |
| $1,500,000 | $26,475 | $52,950 | $26,475 |
When Is the Land Transfer Tax Paid?
The land transfer tax is paid on the closing date of your real estate transaction. Your real estate lawyer will handle the payment. The funds must be available at closing — they cannot be financed through your mortgage. Use our closing costs calculator to estimate your total buying costs.
Need Help Understanding Your Closing Costs?
Lacerda Real Estate helps Mississauga home buyers understand all closing costs including land transfer tax. Our First-Time Home Buyer Guide covers rebates and budgeting. Contact us for a free consultation.