Land Transfer Tax in Newmarket | 2026 Rates, Who Pays and When

How land transfer tax is calculated on a Newmarket home

Ontario land transfer tax is marginal, so each rate applies only to the slice of the price inside that bracket. For a home with one or two single family residences the rates are 0.5 percent up to $55,000, 1 percent from $55,000 to $250,000, 1.5 percent from $250,000 to $400,000, 2 percent from $400,000 to $2,000,000 and 2.5 percent above $2,000,000. For a full walkthrough of the formula, see the official Ontario calculation guide.

Newmarket compared with Toronto

The City of Toronto adds its own Municipal Land Transfer Tax on top of the provincial one. For homes up to $2,000,000, the City of Toronto's municipal rates match the provincial rates, so the bill roughly doubles. Ontario's guide does not refer to a separate municipal land transfer tax for Newmarket. On a $1,000,000 purchase that means about $16,475 here versus about $32,950 in Toronto. If you are weighing a move out of the city, our guide to condo versus freehold in York Region helps with the home type decision.

First-time buyers in Newmarket can get back up to $4,000

Eligible first-time buyers can claim a refund of up to $4,000 of Ontario land transfer tax. Ontario says no land transfer tax is payable by qualifying first-time purchasers on the first $368,000 of the purchase price, and the refund is capped at $4,000. Ontario says you must be at least 18, must never have owned a home or an interest in a home anywhere in the world, and must occupy the home as your principal residence within nine months of the date of transfer. If you have a spouse, your spouse also cannot have owned a home anywhere in the world while they were your spouse. Your lawyer applies the refund on closing. See our first-time home buyer guide for York Region and the official Ontario refund page.

Questions to ask your lawyer before closing

Ask whether you qualify for the first-time buyer refund, what funds to deliver and by what date, whether any non-resident speculation tax could apply, and what other adjustments will appear on the statement. For help estimating your numbers before you make an offer in Newmarket, contact Jonathan or start with the buyer planning page.

Official resources

Rules, rebates and warranty coverage can change. Use official sources and obtain legal advice before signing.

Rates and refund amounts on this page were checked against ontario.ca and toronto.ca on October 24, 2026. This guide is general information, not legal or tax advice. Rates, refunds and eligibility rules change, so confirm your numbers with your real estate lawyer and the official sources above before you buy.