If you are a property owner in Canada then you need to pay a
special tax to your municipality called “Property Tax”. The city
council decides on property tax rates every year and then
municipality collects it. Rates differ from one city to another.
Some of the parameters that could affect property tax rates are
as follows: - Value of the property - Property location - Taxes
imposed by the province (such as educational tax by Ontario) For
example at the time of writing this post if you live in Toronto
and your home is worth $200,000 then you need to pay about
$1500.00 in property tax. If you live in Chatham, Ontario then
your property tax would be about $3000.00. Note that $200,000
can hardly buy you a two bedroom apartment in Toronto while you
may purchase a three or even four bedroom detached house with
this amount in Chatham. Click here to access a property tax
calculator for Greater Toronto Area. The calculator shows the
taxes for 2007 and 2008. It does not calculate the educational
tax which is added to O