How Markham's Property Tax Assessment Works and What It Means for Your Budget
How Markham's Property Tax Assessment Works and What It Means for Your Budget
Your property tax bill is not based on what your home would sell for today. Here is how the bill is actually calculated, and how to plan for it when you buy.
Neeraj Moolchandani is a top real estate agent in Markham, Ontario.
The Short Answer
Property tax in Markham equals your assessed value from MPAC multiplied by the total tax rate, which combines the City, regional, and provincial education portions. For the 2026 tax year, Ontario assessments are still based on values as of January 1, 2016, because the province wide reassessment remains postponed. The City of Markham's own 2026 example shows an assessed value of $822,671 producing a total bill of $5,947. The City portion of the 2026 rate rose 3.9 percent. Owners who disagree with an assessment can file a free Request for Reconsideration with MPAC.
Neeraj helps buyers plan their full monthly cost as part of Kaizen Real Estate Team, one of the teams Markham families trust for clear explanations. Property tax is one of the most misunderstood parts of that budget.
The Simple Formula
Assessed value × total tax rate = property tax
The City of Markham's 2026 example: an assessed value of $822,671 results in a total tax bill of $5,947. That is about $496 a month.
Three governments share the rate: the City of Markham, the regional municipality, and the Province for education. MPAC, the Municipal Property Assessment Corporation, sets the assessed value. Each government sets its own part of the rate.
Assessed Value Is Not Market Value
For the 2026 tax year, assessments in Ontario are still based on values as of January 1, 2016. The province wide reassessment has been postponed, and no new date has been set.
- Your assessed value is often far below what your home would sell for today.
- Because every home uses the same 2016 date, your share of the total tax is what matters.
- When a reassessment eventually happens, homes whose value rose faster than average may see larger changes. Values that rose less may see smaller ones.
Buying a home for more than its assessment does not, by itself, raise the property tax.
Buying in Markham and want a clear monthly budget? Neeraj can help you include property tax from the start. Call or text Neeraj at (647) 370 8885.
How the Bills Arrive
- Interim bill. Sent in early January, equal to 50 percent of the previous year's total tax.
- Final bill. Sent in early June, reflecting the new year's approved rates. For 2026, the City portion of the rate rose 3.9 percent, plus any regional and education changes.
- Pre authorized payments. Markham lets you spread payments over 4, 6, or 11 instalments.
Buying a New Home?
New homes often receive their first full assessment after you move in. Until then, the bill may only cover the land. Many owners then receive a supplementary or omitted assessment and a catch up bill that can cover part of the previous year. Set money aside from day one so this bill is not a surprise. See new construction in Markham.
How to Question Your Assessment
- Review your assessment and compare it with similar homes using MPAC's AboutMyProperty tool.
- File a Request for Reconsideration with MPAC. It is free. The deadline is on your notice; for supplementary or omitted assessments it is 120 days from the notice date.
- If you disagree with MPAC's decision, you can appeal to the Assessment Review Board within 90 days of that decision.
Focus on facts: errors in size, lot, or features, or clear differences from comparable homes.
Not sure what the tax bill will be on a new build? Ask before you commit. Call or text Neeraj at (647) 370 8885.
Budgeting for Property Tax
- Ask for the current tax bill when you look at any resale home
- Plan for increases each year as City, regional, and education rates change
- Remember that renovations or additions with permits can raise your assessment
- Include property tax in your mortgage qualification and monthly plan
Use the mortgage calculator and add your estimated tax to see the full monthly cost.
Planning your next move? Let us look at the full cost together. Call or text Neeraj at (647) 370 8885.
Related Markham Guides
Property Tax Questions, Answered
How is property tax calculated in Markham?
Property tax equals your MPAC assessed value multiplied by the total tax rate, which combines the City, regional, and provincial education portions. The City of Markham's 2026 example shows an assessed value of $822,671 producing a total bill of $5,947.
Why is my assessed value lower than my home's market value?
For the 2026 tax year, Ontario assessments are still based on values as of January 1, 2016, because the province wide reassessment remains postponed.
Did Markham property taxes go up in 2026?
The City of Markham portion of the 2026 tax rate rose 3.9 percent. Your total bill also depends on the regional and provincial education rates.
How do I appeal my property assessment in Ontario?
File a free Request for Reconsideration with MPAC by the deadline on your notice. If you disagree with the result, you can appeal to the Assessment Review Board within 90 days of MPAC's decision.
Why did I get an extra tax bill after buying a new home?
New homes are often assessed after occupancy. Owners may then receive a supplementary or omitted assessment and a catch up bill for the period before the home was fully assessed.
Know Your Full Monthly Cost
Neeraj will help you budget for property tax, fees, and every other cost before you buy.
Call or text (647) 370 8885 · info@kaizenrealestate.ca
Kaizen Real Estate Team, eXp Realty, Brokerage · 9763 Markham Rd, Markham, ON L6E 1A4
Sources: City of Markham property tax information, 2026; MPAC assessment cycle information, October 2026. General information only; confirm details with the City of Markham and MPAC. This article is general information, not legal, tax, mortgage, or financial advice. Market commentary describes current conditions and is not a promise of future prices. Information is believed accurate but should be independently verified. Not intended to solicit properties currently under contract.
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