Property Taxes In Durham Region: What To Expect
When purchasing a home, it’s important to factor in expenses both inside and outside of the sale. This includes property taxes. What are property taxes? As the name suggests, they are a tax charged on your property and are collected by your municipality. Your taxes are made up of local taxes that go to fund local initiatives such as emergency services, recreation programs and road maintenance. A portion of your property taxes is collected by your municipality on behalf of the Durham Region and the Province of Ontario.
Tax rates are determined by the Municipal Property Assessment Corporation (MPAC). They are based on the assessed value of your home and tax rates vary from city to city. Below, we’ve provided an example of the property taxes throughout each city and town within the Durham Region. All figures were calculated using the average home price from May 2019, within that respective local. *Average home prices were compiled using stats from the Toronto Real Estate Board’s (TREB) Market Watch statistics.
Property Taxes In Pickering
$708,833 was the average home price in Pickering in May 2019. Using that value, the average property tax amount would equal $7822.05. We reached this number by inputting the average home price into the City of Pickering’s online tax calculator and selecting the residential property class. This cost includes both the City’s portion, what they remit to the Region and education taxes.
Property Taxes In Ajax
The average home price in Ajax in May 2019 was $692,099. Property taxes for a home of that value would be $7664.00 yearly. This figure was obtained by using the Town’s online property tax calculator.
Taxes In Whitby
Like Ajax, the Town of Whitby’s website has a tax calculator that uses the assessed value of the home to determine an estimate. To calculate the estimated property taxes for Whitby, we used the average home value of $681,446. Based on that figure, the average property taxes (including municipal, regional and education) would work out to $8047.15.
Property Taxes In Oshawa
Oshawa’s online tax calculator is based on the street address of your home and not the average price. To calculate, we used the average home price for May 2019 ($518,777) as determined by TREB and then found a current home listing of similar value. The yearly tax rate would be $7728.81 .
What To Expect In Clarington
The Municipality of Clarington, unfortunately, doesn’t feature an online tax calculator on their website. However, they do have a listing of the property tax rates based on dwelling type. For residential, the combined rate is 1.173410% and the average home price is $565,003. Based on those two figures, the average property tax rate would be $6629.80.
Just as a friendly reminder: these numbers are rough calculations based on the average home price and can vary from what your final taxation amount would be. However, they are a great jumping off point to help you determine the overall home affordability when all expenses are factored in. If you’re looking to purchase a home but don’t know where to start, our Buyer’s Guide is a great education piece to start with. Happy house hunting!