Terrace Bay property tax rate 2025

Terrace Bay in short

$16,835 a year on a $500,000 home: $16,070 to Terrace Bay council and $765 to schools.
Up 0.42 points since 2019, or $2,096 a year more on a $500,000 home.
Rent $750 a month, home value $100,000 in the 2021 Census, against an Ontario middle of $980 and $400,000.

2025 is the newest year Terrace Bay has filed. Every municipality on this site is compared at its newest filed rate: 283 have filed 2025, and the other 131 are at their newest year, mostly 2024.

Who sets the rate

Two bodies set Terrace Bay's rate: Terrace Bay council and the Province of Ontario, for schools. Terrace Bay has no county above it, so there is no county or region portion: its own rate of 3.21% already pays for services that a county would run elsewhere. That is also why comparing Terrace Bay's municipal rate directly against a township's understates what the township actually pays.

$16,070

Portion	Rate	On $500,000	Share
MunicipalTerrace Bay council	3.21%	$16,070	95%
County or regionNone in Terrace Bay	0.00%	$0	0%
EducationProvince of Ontario	0.15%	$765	5%
Total	3.37%	$16,835	100%

Each rate is rounded to two decimals, so the parts can add up to 0.01 off the total.

How the rate has changed, 2019–2025

Up every year since 2020. Since 2019 the total rate here has risen by 0.42 percentage points, from 2.95% to 3.37%. On a $500,000 home that is $2,096 a year more than in 2019.

20192.95%$14,739
20202.87%$14,329
20212.90%$14,491
20222.98%$14,906
20233.12%$15,587
20243.24%$16,197
2025^*3.37%$16,835

Total residential rate, with the tax on a $500,000 home underneath. *2025 is Terrace Bay's own filing; 104 municipalities have not filed 2025 yet.

Each part of the rate, year by year

Over the same years the residential assessment base moved from $61M to $61M, and the residential levy collected went from $2M to $2M. A rate rising while the base also grows means the budget grew faster than property values; a rate falling while the base grows usually means the opposite. Assessment is the figure on the MPAC notice, still based on 2016 values province-wide.

Year	Municipal	County or region	Education	Total	Change	On $500,000
2019	2.79%	—	0.16%	2.95%	—	$14,739
2020	2.71%	—	0.15%	2.87%	−0.08 pts	$14,329
2021	2.75%	—	0.15%	2.90%	+0.03 pts	$14,491
2022	2.83%	—	0.15%	2.98%	+0.08 pts	$14,906
2023	2.96%	—	0.15%	3.12%	+0.14 pts	$15,587
2024	3.09%	—	0.15%	3.24%	+0.12 pts	$16,197
2025*	3.21%	—	0.15%	3.37%	+0.13 pts	$16,835

Why are Terrace Bay property taxes so high?

Terrace Bay's total rate of 3.37% is 1.97 percentage points above the provincial middle (1.40%). A rate that high usually means the assessment base is small relative to what the budget must cover: $61.2M of taxable residential value funds $2.1M in levy here.

Home values

Homes here are assessed at $77,235 per household, 58% less than the middle ($183,474). Lower values mean it needs a higher rate to raise the same money.

Spending

It spends $10,078 per household, 33% more than the middle ($7,558). It spends more on parks and recreation (+$1,334), running the municipality (+$1,001) and planning and development (+$812), and less on roads and bridges (−$62) and police (−$62).

← Less than the middleMore than the middle →
Parks and recreation+$1,334
Running the municipality+$1,001
Planning and development+$812
Roads and bridges−$62
Police−$62

What it costs to live in Terrace Bay

Cost	Terrace Bay	Ontario middle
Rent, per monthmedian, 2021	$750Lower than 86% of 354	$980
Home valueowners’ estimate, 2021	$100,000Lower than 97% of 412	$400,000
Property tax on a $500,000 assessment2025	$16,835Higher than 98% of 414	$6,992
Households spending 30% or more on housingshare of income, 2021	12.7%Lower than 69% of 400	15.0%
Household incomemedian, before tax, 2020	$86,000Higher than 55% of 405	$84,000

Ontario has no official cost-of-living index for single towns. Statistics Canada’s consumer price index covers only Toronto, Ottawa and Thunder Bay here, and it measures change over time, not the gap between places. These are the costs published for each municipality: what renters paid and owners estimated in the 2021 Census, not today’s asking rents or sale prices.

Places like Terrace Bay

The 5 places closest to Terrace Bay on total tax rate, assessment / household, spending per household, population, 5-year growth, people per household, among places with no county above them.

Place	Newest rate	On $500,000
Ear Falls2024 rate	2.45%	$12,228
Ignace2021 rate	2.63%	$13,155
Smooth Rock Falls	2.71%	$13,540
Marathon	3.22%	$16,100
Terrace Bay this page	3.37%	$16,835
Manitouwadge2023 rate	6.85%	$34,240

Others in Thunder Bay District

Municipalities that share Terrace Bay's county or district. Rates compare most cleanly between places whose assessments sit at similar levels.

Municipality	Rate	On $500,000	vs Terrace Bay
Shuniah	0.86%	$4,287	−$12,548
Neebing	1.04%	$5,207	−$11,628
Oliver Paipoonge2024 rate	1.19%	$5,960	−$10,874
O'Connor	1.52%	$7,611	−$9,224
Thunder Bay2024 rate	1.60%	$8,008	−$8,827
Conmee	1.64%	$8,200	−$8,635
Dorion2024 rate	1.67%	$8,371	−$8,464
Gillies2024 rate	1.82%	$9,114	−$7,721

All 414 Ontario municipalities in one table

More on Terrace Bay

All 4 property classes, 2025

Residential is one of 4 classes Terrace Bay reported this year. The tax ratio is the multiple applied to the residential rate: a ratio of 1.7 on multi-residential means an apartment building pays 1.7× what a house pays on the same assessed value.

Class	Tax ratio	Municipal	County or region	Education	Total
Large Industrial	2.63	8.45%	—	0.88%	9.33%
Commercial	1.88	6.04%	—	0.88%	6.92%
Multi-Residential	2	6.43%	—	0.15%	6.58%
Residential	1	3.21%	—	0.15%	3.37%

Sources and method

Tax rates and spending come from the Financial Information Return that Terrace Bay files with the Province of Ontario; population, rents and home values from Statistics Canada.

Every source, the method and the limits

Tax rates: Ontario Financial Information Return (FIR), 22 GPL — Municipal and School Board Taxation. Ministry of Municipal Affairs and Housing, Municipal Act s.294(1). Years 2019, 2020, 2021, 2022, 2023, 2024, 2025; retrieved 2026-10-11. Download the file
Spending, households: Financial Information Return Schedule 40 (consolidated expenses by function) and Schedule 02 (households and population).
Population: Adapted from Statistics Canada, Table 17-10-0155-01, Population estimates, July 1, by census subdivision. This does not constitute an endorsement by Statistics Canada of this product. Statistics Canada Open Licence.
Rent, home value, income: Adapted from Statistics Canada, Census Profile, 2021 Census of Population. This does not constitute an endorsement by Statistics Canada of this product. Statistics Canada Open Licence. Rent is the median monthly shelter cost of renter households (rent plus any utilities they pay). The Ontario middle is the median across the municipalities with a published figure.
Method: Dollar figures are the rate times $500,000 of assessed value. Standing compares Terrace Bay's 2025 total residential rate with all 414 Ontario municipalities: 9 of the other 413 charge more. The five colours split them into fifths.
Municipality ID: MunID 58054, MAH 89613
Limits: These are the figures Terrace Bay filed with the province. An individual bill can include area-specific charges and local improvement levies that a municipality-wide rate does not capture. Reference, not tax advice.

Terrace Bay property tax rate, 2025

Higher than 98% of the 414 Ontario municipalities