How is a home valued for Ontario probate?

The home is reported at its fair market value on the date of death. Executors usually document that value with a certified appraisal, since an online estimate or the property tax assessment may not reflect what it would actually have sold for.

How much is Ontario probate tax on a home?

Ontario's Estate Administration Tax is generally nothing on the first $50,000 of estate value and $15 for every $1,000 (1.5%) above that. Your estate lawyer will confirm which assets are included.

Can I use the MPAC assessment for probate?

The MPAC assessment is a mass valuation for property tax and is often out of date, so it is generally not a reliable stand-in for fair market value on the date of death.

What happens if the home value is wrong on the probate application?

The Ministry of Finance can review estate information returns, and executors may need to file a correction. A supported, independent appraisal makes the reported value much easier to defend.

Ontario Probate Home Value: How It's Set (Ontario Guide)

Short answer: for Ontario probate, a home is reported at its fair market value on the date of death. That number feeds directly into the Estate Administration Tax, so executors in Toronto, Hamilton and across Ontario usually back it up with a certified appraisal rather than an online estimate.

What Value Is Used for a Home in Ontario Probate?

When an executor applies for a Certificate of Appointment of Estate Trustee (what most people call probate), they must report the value of the estate's assets. For real estate, that is the property's fair market value on the date of death: the price it would most likely have sold for on the open market, between a willing buyer and seller, on that day.

It is not the price the deceased paid, and it is not what the home eventually sells for months later, although a later sale can be a useful cross-check.

How Is Ontario Estate Administration Tax Calculated?

Ontario's probate fee is called the Estate Administration Tax. Under the current rules it is generally:

$0 on the first $50,000 of estate value
$15 for every $1,000 (or part of $1,000) above $50,000, which works out to 1.5%

Because a Toronto or Hamilton home is often the largest asset in the estate, its value usually drives most of the tax. Mortgages registered against the property can generally be deducted from its value, but other debts usually cannot. Which assets go through probate at all (for example, a home held in joint tenancy may pass outside the estate) is a question for your estate lawyer.

After the certificate is issued, executors also file an Estate Information Return with the Ministry of Finance, listing the assets and their values. The home's value appears there too.

Can I Use the MPAC Assessment or an Online Estimate?

It is tempting, but usually not a good idea. The MPAC assessment is a mass valuation done for property tax purposes, often based on an older valuation date, and it can be well above or below market value. Online estimates do not see the inside of the home, its condition or its renovations.

Reporting too high a value means paying more tax than necessary. Reporting too low a value can cause problems later, both with the Ministry and with the deceased's final tax return, where the same date-of-death value is used.

How Does an Appraiser Value a Home for Probate?

A probate appraisal is a type of estate appraisal. Because it looks back to the date of death, it is prepared as a retrospective appraisal. The appraiser:

Inspects the home (or relies on photos and records if it has changed or been sold)
Notes its condition as of the date of death
Analyses comparable sales from around that date in the same neighbourhood
Adjusts for differences in size, layout, lot, parking and updates
Signs a written report explaining how the value was reached

The report is prepared to the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP), so your lawyer and accountant can rely on it. Read more in Do I need a date-of-death appraisal?

What If the Probate Value Is Questioned?

The Ministry of Finance can review Estate Information Returns, and if a value turns out to be wrong, executors may need to file an amended return. Beneficiaries can also question a value, especially if one of them is buying the home. A signed, independent appraisal gives the executor a clear, documented answer and helps show they acted carefully.

How Much Does a Probate Appraisal Cost?

Since it values the home as of the date of death, it is priced as a retrospective appraisal. At Best Home Value, fees start at $470 for a condo or townhouse, $575 for a detached or semi-detached house and $800 for a 2-4 unit property in the Greater Toronto and Hamilton Area. Your exact fee is confirmed in writing within one business day, before anything is booked. See our full fee table.

How long does it take?

A signed PDF report is typically delivered 2–3 business days after the inspection, ready to share with the estate lawyer and accountant.

This article is general information, not tax, legal or financial advice. Please speak with your accountant, lawyer or lender about your situation.

How Is a Home Valued for Ontario Probate?