City Considers Vacant Home Tax
The City of Toronto is asking residents their opinion on a proposed tax on vacant GTA homes.
As part of the Ontario Fair Housing Plan, the Province of Ontario recently introduced legislation that would empower the City of Toronto to impose a tax on vacant residential units.
Vacant homes are seen as a potential source of readily available housing. The tax, it is hoped, would encourage owners to rent out empty units, according to a City of Toronto news release.
Still, identifying vacant units remains a problem. Privacy rights prevent the use of personal or private information such as water or hydro meter data from being used to detect potentially vacant units.
The city said it is considering three options for identifying vacant homes for taxation: mandatory declaration of occupancy status for all property owners, a self-reporting model and a complaints basis.
Residents can share their views on the vacant homes tax by completing an online survey. The city also will be conducting a public opinion poll to ask residents their thoughts on the potential tax.
The tax is one of a number of initiatives Toronto is considering to address housing availability and affordability. City staff are expected to report on findings from the consultations later this year.
