2022 Vacant Home TaxPosted by Paul Ambler on
Homes in Toronto/GTA are selling at breath taking speed and prices are climbing in large part due to low supply of housing across the GTA. In 2019, City Council asked for information related to the possible implementation of a vacant home tax in Toronto. At their December 2020 meeting, City Council asked City staff to develop key tax design features and administrative structures to support a vacant home tax program and to report back with a recommended design for a vacant home tax by the end of the second quarter of 2021, for tax implementation in 2022.
The goal of a vacant home tax is to change the behaviours of homeowners who leave their homes unoccupied – compelling them to sell or rent them out to increase the housing supply or pay a tax to…
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