Property tax exemption for university-leased student housing
The Ontario Government amended the Assessment Act to introduce a property tax exemption for properties leased and solely occupied by a university for the purpose of providing student residential accommodation. The exemption came into effect on January 1, 2025.
MPAC has completed its engagement with all eligible universities impacted by the new student housing property tax exemption, and we thank all university partners who participated.
Other exemptions: University properties
Certain properties of Ontario universities may be exempt from property taxes if specific conditions are met.
Universities, as defined under the Education Act, are exempt from property taxation where they satisfy any one of the following criteria:
Assessment Act
- Properties that are owned, used and occupied solely by a university;
- Properties that are leased and occupied by a university if the property would be exempt from taxation if it was occupied by an owner who qualifies for exemption under the Assessment Act;
- Properties that are leased and occupied solely by a university and used for administrative, educational or research purposes, if the property forms part of the main campus of the university where the university receives regular and ongoing funding from the Government of Ontario or the Government of Canada for the purposes of providing post-secondary education.
Private legislation
Some private legislation provides property tax exemption based on conditions provided in the University’s Act.
The Minister of Finance may prescribe additional conditions for exemption under the Assessment Act.
Need help or more information?
If you have questions or believe your property qualifies for the student housing exemption, please contact us to begin the property review process.
Please be prepared to identify potentially eligible properties as well as provide occupancy agreements (lease/license agreements) and other supporting information to support the review process.
Paragraph 4.0.1 of subsection 3(1) of the Assessment Act was amended to add the application of a tax exemption for properties leased and used by universities to provide residential accommodation to students.
