Abstract. After surveying higher K-theory of toric varieties, we present Totaro's old (c. 1997) unpublished result on expressing the corresponding homotopy theory via singular cohomology. It is a higher analog of the rational Chern character isomorphism for general toric schemes. In the special case of a projective simplicial toric scheme over a regular ring one obtains a rational isomorphism between the homotopy K-theory and the direct sum of m copies of the K-theory of the ground ring, m being the number of maximal cones in the underlying fan. Apart from its independent interest, in retrospect, Totaro's observations motivated some (old) and complement several other (very recent) results. We conclude with a conjecture on the nil-groups of affine monoid rings, extending the nilpotence property. The conjecture holds true for K 0 .1. K-theory of toric varieties: survey 1.1. Conventions. All our rings and monoids are commutative. Unless specified otherwise, the monoid operation is written additively.Our monoid and convex geometry terminology follows [3]. In particular, an affine monoid is a finitely generated submonoid of a free abelian group. For an affine monoid M its largest subgroup will be denoted by U(M). An affine monoid M is called (i) positive if U(M) = 0, (ii) normal if M is isomorphic to a monoid of the form C ∩ Z d for a finite rational cone C ⊂ R d , and (iii) seminormal if, for every element x ∈ gp(M), the inclusions 2x, 3x ∈ M imply x ∈ M, where gp(M) is the group of differences of M, i.e., gp(M) is the universal group to which M maps. We say that M is simplicial if the coneis such. For a functor, defined on rings, a natural number c, and a ring R we denote by c * the endomorphism, induced by the monoid ring endomorphismc , where the monoid operation is written multiplicatively. For generalities on toric varieties the reader is referred to [3, Chap. 10] and [7]. All fans considered below are assumed to be finite and rational. Let F be a fan. One calls F simplicial if the cones in F are such. The set of maximal cones in F is denoted by max(F ). The toric scheme over a ring R, associated with F , will be denoted by V R (F ).For a fan F in R d , the scheme V R (F ) is (i) complete if and only if F is complete, i.e., max(F ) σ = R d , (ii) projective if and only if F is projective, i.e., there is a full dimensional polytope P in the dual space (R d ) op such that the set of duals of the corner cones of P is exactly max(F ), and (iii) quasi-projective if and only if