Ontario Land Transfer Tax (LTT) is one of the largest closing costs homebuyers face — and it’s often underestimated during budgeting. In 2026, the tax structure remains unchanged from 2023, but first-time buyer rebates provide meaningful relief. Here’s a complete breakdown with real numbers for every price range.
Ontario Land Transfer Tax Rates 2026
| Purchase Price Bracket | Marginal Rate |
|---|---|
| First $55,000 | 0.5% |
| $55,001 – $250,000 | 1.0% |
| $250,001 – $400,000 | 1.5% |
| $400,001 – $2,000,000 | 2.0% |
| Over $2,000,000 | 2.5% |
LTT Owed at Common Ontario Price Points
| Purchase Price | Ontario LTT | After FTB Rebate ($4,000 max) | Toronto MLTT (if applicable) |
|---|---|---|---|
| $500,000 | $6,475 | $2,475 | $5,725 (–$4,475 rebate) |
| $700,000 | $10,475 | $6,475 | $9,725 |
| $900,000 | $14,475 | $10,475 | $13,725 |
| $1,200,000 | $20,475 | $16,475 (FTB not eligible above $1M) | $19,725 |
First-Time Buyer LTT Rebate: What You Need to Know
- Maximum Ontario LTT rebate: $4,000 — covers the full tax on purchases up to ~$368,000.
- Toronto buyers also receive a separate Municipal LTT rebate of up to $4,475.
- To qualify, you must be a Canadian citizen or permanent resident, 18+, and never have owned a home anywhere in the world.
- The rebate applies at time of closing — you don’t pay and then wait for a refund.
Use the LTT and closing cost calculator at mrates.ca to budget your full purchase cost accurately.