Understanding Toronto's Proposed Property Tax Increase: What It Means for You The City of Toronto is looking at a 6.9% property tax increase this year to support its $18.8-billion budget for 2025. This hike includes a 5.4% rise in residential property taxes and an additional 1.5% increase in building levy fees. For the average homeowner, this means an extra $210 on your annual bill, plus another $58 to fund improvements in transit and housing. Here’s what’s going on and... [read more]

Purchasing a home in the Canadian real estate market will be one of the most significant decisions of your life. Therefore, you need to know what you are paying for as you find a home to budget the home-buying process accurately. One of the expenses associated with buying or selling a detached house, a townhome, or a condominium is closing costs. These are a wide range of fees generally paid at the end of the transaction, accounting for roughly one percent to four percent of the overall... [read more]