Outside the GTA · 2026 rates

Property tax in London

London's rate is 1.73%. On a $1,000,000 plex that is $17,271 a year, the largest expense line after the mortgage.

What the rate is made of

Share	Rate	On $1,000,000
Municipal	1.57%	$15,741
Education	0.15%	$1,530
Total	1.73%	$17,271

Against neighbouring cities

City	Rate	On $1,000,000
Hamilton	1.56%	$15,572
Oshawa	1.58%	$15,753
London	1.73%	$17,271
Niagara Falls	1.75%	$17,489
North Bay	1.81%	$18,104

Land transfer tax

On a $1,000,000 building the tax is $16,475. The schedule is provincial: it is the same in London as anywhere else in Ontario, outside the City of Toronto which adds a second one.

Your assessment is frozen at 2016 values

Ontario taxes on January 1, 2016 values, and a sale does not reset them. On a building bought at $1,000,000 whose assessment sits near $550,000, the tax is computed on that assessment, not on the price.

That is an advantage today and a liability tomorrow: when the roll is updated, expect about $7,772 more per year in London, or $648 a month. Plexmeter derives it from your own tax bill, with no market averages.

What is the property tax rate in London?

London's rate is 1.73%. On a $1,000,000 plex that is $17,271 a year.

What value is Ontario property tax calculated on?

Ontario taxes on January 1, 2016 values, and a sale does not reset them.