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  • Feb 15th, 2021 11:10 pm
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[OP]
Member
Apr 15, 2009
214 posts
231 upvotes
toronto

Property tax

What happens to tax if I paid it and sold the property soon after? Say I pay for 6 months ahead and then sell?
Is that prorated or how is that handled?
In Toronto
2 replies
Jr. Member
Mar 14, 2018
125 posts
200 upvotes
mstefa wrote: What happens to tax if I paid it and sold the property soon after? Say I pay for 6 months ahead and then sell?
Is that prorated or how is that handled?
In Toronto
You will get it back pro-rated from the buyer at closing.
Newbie
Nov 27, 2020
38 posts
76 upvotes
Question about property taxes with this market, how will taxes get assessed/reassessed after sales? When property is sold, MPAC uses the sale prices for assessment. Houses in my area have almost doubled, I’m wondering if my property taxes will double now too?

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