Re/Max Realty Specialists Inc.,
Brokerage Independently Owned & Operated
*Sales Representative

Land Transfer Tax

One of the major closing costs when you buy any home is Land Transfer Tax charged by the Ontario government. This is basically a sales tax on land, although the rate is a lot less than 8%. In fact, for any home that costs less than $250,000, the simple rule of thumb is 1% of the purchase price minus $275. Here are the ranges:

A. home costs under $250,000: purchase price x 1% less $275
B. home costs between $250,000 and $400,000: purchase price x 1.5%, less $1,525
C. home costs over $400,000: purchase price x 2%, less $3,525

LAND TRANSFER TAX SCHEDULE

Purchase price of Home Land Transfer Tax
$ 250,000 $2,225
$ 255,000 $2,300
$ 260,000 $2,375
$ 265,000 $2,450
$ 270,000 $2,525
$ 275,000 $2,600
$ 280,000 $2,675
$ 285,000 $2,750
$ 290,000 $2,825
$ 295,000 $2,900
$ 300,000 $2,975
$ 305,000 $3,050
$ 310,000 $3,125
$ 315,000 $3,200
$ 320,000 $3,275
$ 325,000 $3,350
$ 330,000 $3,425
$ 335,000 $3,500
$ 340,000 $3,575
$ 345,000 $3,650
$ 350,000 $3,725
$ 355,000 $3,800
$ 360,000 $3,875
$ 365,000 $3,950
$ 370,000 $4,025
$ 375,000 $4,100
$ 380,000 $4,175
$ 385,000 $4,250
$ 390,000 $4,325
$ 395,000 $4,400
$ 400,000 $4,475

 

Search Homes For Sale

Use our real estate search tools to find your next home. Get started now.

 

What's My Home Worth?

Curious about what your home is worth? Get your no obligation home evaluation now.

How Can Krisztina Help You?

Real Estate Video Updates