What Is the Land Transfer Tax in Markham, and Are There Any Rebates? (2025 Guide)

About Michael John Lau Markham’s Top Realtor
As the Top Realtor in Markham, Ontario, I help buyers, sellers, and investors navigate the local real estate market with confidence. Known for proven results, client-first service, and deep Markham and Unionville expertise, I guide families to the perfect home while ensuring smart financial decisions every step of the way.
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Understanding Land Transfer Tax (LTT) When Buying a Home in Markham

If you're planning to buy a home in Markham, one of the most important closing costs you’ll encounter is the Ontario Land Transfer Tax (LTT). Unlike Toronto, Markham does not charge a municipal land transfer tax so buyers only pay the provincial tax.

This makes Markham a more affordable choice compared to Toronto, where buyers pay double (both provincial and municipal LTT).

✅ How Land Transfer Tax Is Calculated in Markham (Ontario LTT Rates)

Ontario’s Land Transfer Tax is calculated using a tiered system:

• 0.5% on the first $55,000

• 1.0% on the portion between $55,000 - $250,000

• 1.5% on the portion between $250,000 - $400,000

• 2.0% on the portion between $400,000 - $2,000,000

• 2.5% on any amount over $2,000,000 (if residential and 1-2 single family homes)

Example:

If you purchase an $850,000 Markham home, your estimated LTT would be roughly $14,475.

🎉 Are There Land Transfer Tax Rebates in Markham? Yes First-Time Buyer Rebates!

If you’re a first-time homebuyer, Ontario offers a rebate of up to $4,000 on your land transfer tax.

You may qualify if:

• You are a first-time homebuyer

• You are a Canadian citizen or permanent resident

• You will live in the home within 9 months of purchase

• Your spouse has never owned a home anywhere in the world

How the rebate works:

• Homes up to $368,000 → Your entire LTT may be covered

• Homes over $368,000 → You receive the maximum $4,000 rebate

This rebate significantly reduces upfront closing costs making Markham more accessible for young families and first-time homeowners.

🏡 Why Understanding LTT Matters When Buying in Markham

Markham’s real estate market is competitive and fast-moving, especially in high-demand neighborhoods like Unionville, Wismer, Cornell, Berczy Village, and Greensborough.

Knowing your land transfer tax helps you:

• Create an accurate closing cost budget

• Avoid surprises on closing day

• Compare affordability between Markham vs. Toronto

• Determine your true buying power

As your trusted Markham Realtor, I help all my buyers plan their finances properly so they feel confident and stress-free throughout the process.

📌 Quick Facts About Land Transfer Tax in Markham

🏠 Buying a Home in Markham? Let the Top Realtor Guide You.

If you’re planning to buy a home in Markham or Unionville, understanding taxes, fees, and closing costs is just the beginning. As the Top Realtor in Markham, I help buyers:

• Find the right home at the right price

• Understand all costs before making an offer

• Negotiate strongly in any market

• Avoid financial surprises during closing

• Access exclusive listings and local insights

📞 Let’s make your next move your best move.
Visit www.callmikelau.com to get started or message me anytime for personalized guidance.