Average homeowner will pay $11,000 in property taxes in Brampton: report

The average Brampton homeowner will pay over $11,000 in property tax this year thanks to a tax hike of more than 6 per cent by the city and the Region of Peel, according to a new report.

This week will see the first 2024 property tax bills come due in Brampton with a 1.9 per cent annual increase from the on top of a 4.5 per cent tax hike approved by the region.

With an average home value of $1,013,920 in Brampton, the typical homeowner will pay more than $11,000 in property taxes in 2024, says a new report from real estate website Zoocasa.

The numbers show homes valued over $1 million can expect to pay around $11,069 in property taxes. Properties priced at over $750,000 will pay around $8,301, while homes over $500,000 will pay some $5,534.

The year-over-year property tax hike is around 6.5 per cent, and the average property owner in Brampton can expect to pay the city an additional $118 per household compared to 2023 while the regional bills for commercial/industrial property tax bills go up by $247 and $435 respectively.

In Mississauga, property tax rates climbed 7.39 per cent from 2023 to 2024 making it the city with the highest property tax hike in southern Ontario.

Ontario’s Municipal Property Assessment Corporation determines the value of your property, which is reassessed every four years

Brampton froze property tax increases for years under the direction of Mayor Patrick Brown after he was first elected in 2018.

The first payment of 2024 property tax bills in Brampton is due on July 24, and the city has multiple ways for you to pay to avoid racking up monthly penalties and interest charges.

Payments can be made online through the city’s property tax portal, and will require your customer number which can be found on the upper right side of your tax bill.

You can also make payments by mail, through email or telephone banking, or in person at Brampton City Hall.

For more information on your property tax bill in Brampton visit www.Brampton.ca.