Markham, Ontario
Markham land transfer tax calculator
Enter a purchase price to see the Ontario land transfer tax on a Markham home, what an eligible first-time buyer pays after the refund and what the same price would cost in Toronto.
Why a Markham home costs less in land transfer tax than Toronto
Every buyer in Ontario pays the provincial land transfer tax when the transfer is registered on closing. Buyers in the City of Toronto pay a second, municipal land transfer tax on top. Markham does not charge one, so a Markham buyer pays the provincial tax only. On most prices that roughly halves the bill compared with buying the same home in Toronto.
Land transfer tax on common Markham prices
| Purchase price | Markham | Markham, first-time buyer | Toronto |
|---|---|---|---|
| $600,000 | $8,475 | $4,475 | $16,950 |
| $900,000 | $14,475 | $10,475 | $28,950 |
| $1,100,000 | $18,475 | $14,475 | $36,950 |
| $1,500,000 | $26,475 | $22,475 | $52,950 |
| $2,500,000 | $48,975 | $44,975 | $97,950 |
The Toronto column is before Toronto's own first-time buyer rebate, which is up to $4,475 on the municipal tax.
Ontario land transfer tax rates
For a home with one or two single family residences, in effect since January 1, 2017:
| Portion of the price | Rate |
|---|---|
| Up to $55,000 | 0.5% |
| $55,000 to $250,000 | 1.0% |
| $250,000 to $400,000 | 1.5% |
| $400,000 to $2,000,000 | 2.0% |
| Over $2,000,000 | 2.5% |
The first-time buyer refund
Ontario refunds up to $4,000 of the provincial tax to an eligible first-time buyer, which covers the whole tax on the first $368,000 of the price. You must never have owned a home or an interest in one anywhere in the world, you must move in as your principal residence within nine months and the refund must be claimed within 18 months of registration. Most buyers claim it through their lawyer on closing. Our land transfer tax guide covers the rules in full and the first time home buyer guide puts the refund alongside the FHSA and the Home Buyers' Plan.
Budgeting for closing
Land transfer tax is usually the largest closing cost, but not the only one. Legal fees, title insurance, adjustments and moving costs come on top. See closing costs for Markham buyers or talk to us about what your purchase would cost in total.