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

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