10/12/2026
Two Different Approaches to Property Taxes
The distinction between the two Mayoral candidates is particularly clear on taxation.
Bradford is campaigning on a first-year property tax freeze and a substantial reduction in municipal land transfer taxes for qualifying homebuyers.
Chow is promising to limit future property tax increases after three budgets that have collectively raised residential property taxes by approximately 19.7 per cent.
For Toronto homeowners and prospective buyers, the outcome of the October 26 election could have a direct impact on both the ongoing cost of homeownership and the expense of purchasing a property.
With Toronto's municipal election set for October 26, property taxes and housing affordability have become key issues in the race for mayor.
Brad Bradford
A former urban planner, Brad Bradford has represented Ward 19, Beaches–East York, on Toronto City Council since 2018.
Bradford previously served as vice-chair of the city's budget committee under former Mayor John Tory, whose administration generally sought to keep property tax increases close to inflation.
Now running for mayor, Bradford is promising to freeze property taxes during his first year in office.
He is also proposing a significant change to Toronto's municipal land transfer tax. Under his plan, buyers purchasing a home as their principal residence would pay no municipal land transfer tax on the first $1.1 million of the purchase price, roughly the city's average home sale price.
Buyers purchasing more expensive properties would pay the municipal tax only on the amount exceeding $1.1 million.
Olivia Chow
Olivia Chow has served as Toronto's mayor since 2023. Her municipal political career began in 1985 and included serving on Metro Council from 1992 until amalgamation in 1998.
Chow has pledged to keep future property tax increases at or around the rate of inflation.
Her three budgets, however, tell a different story.
• 2024: Property taxes increased 9.5 per cent.
• 2025: Property taxes increased 6.9 per cent.
• 2026: Property taxes increased 2.2 per cent.
Together, those increases total 18.6 percentage points. Compounded over three years, they represent an approximately 19.7 per cent increase in residential property taxes.
Comparing inflation with property taxes
Toronto residential property taxes increased approximately 19.7% compounded over the 2024–2026 budgets, substantially above the 4.7% cumulative Toronto inflation recorded between the 2023 and 2025 annual averages.
However, the periods do not fully match. A definitive three-year comparison in not available until Toronto's 2026 CPI figures are included.
Source: Statistics Canada — Consumer Price Index by city
Chow's administration has also increased taxes affecting Toronto's housing market.
The municipal land transfer tax was increased on residential properties valued above $3 million, with further increases taking effect in 2026.
The city's vacant home tax also rose from one per cent to three per cent, effective for the 2024 taxation year — a 200 per cent increase.
