City of Toronto issues a property tax bill to all homeowners twice a year, or four times a year. In the property tax bill, it will show how much is your property worth with an assessed value and based on this assessed value, your property tax is calculated. It will also tell you how much property tax you need to pay and the due date you need to pay to avoid penalty charges. If you are the new owner of your property, you will find your name in the first property tax bill.
There are several common ways to pay your Property tax bill:
1. You can pay for your property tax bill through your banks either in person at the Teller or using your bank's online banking website. If paying at the bank counter, simply present the property tax bill to the bank teller and they will handle the rest. Just tell them which account you want the money to come out from to pay the property tax bill.
You can also pay online using your bank website or Phone app.
- You should sign in to your bank online account first.
- You will need your 21 Digits assessment roll no located on the top left corner of your property tax bill.
- Select one of the following as the payee: City of Toronto, Toronto, Property Taxes or Toronto Tax.
2. You can only mail in your Cheques (No Cash) Payable to:
Treasurer, City of Toronto
3. You can arrange for your mortgage company to pay your property taxes on your behalf. How it works is that your monthly mortgage payment will include a portion of the property taxes so that you do not have to worry about remembering to pay for your property tax bill. The banks will receive information from the City of Toronto about approximate property taxes for the year and based on this information the banks will integrate the mortgage payment with this property taxes monthly. So what you are paying your banks monthly will have mortgage payments and property taxes included. If there happen to be a surplus or deficit of property taxes payment by the end of the year, the banks will automatically adjust accordingly.