Property Tax Credit Ontario Canada

The refundable property tax credit provides assistance for people with low to moderate incomes who own or rent a principal residence in Ontario.

Property Tax Credit:

  • Based on occupancy cost – property tax paid, or 20% of rent paid.
  • The basic property tax credit for individuals under age 65 is $250.
  • The basic property tax credit for individuals age 65 or older is $625.
  • Credit would not exceed occupancy cost, and would be subject to a maximum of $900 for non-seniors and $1,025 for seniors.
  • Adjusted by 2% of adjusted family net income over $20,000 for single people and over $25,000 for families.
  • Refundable, and claimed on the personal income tax return, beginning with the 2010 return.

You cannot claim a Property Tax Credit for more than one Ontario residence, such as a house and a cottage, for the same period. However, you can claim more than one principal residence if you have lived in more than one at different times in the year, and your total period of principal residence occupancy does not exceed 12 months. If you rent out part or all of your principal residence, you can claim a property tax credit only for the part of the residence in which you live and for the time you actually lived in the residence.