City of Toronto's Vacant Home Tax Coming in 2023

  11/30/2022 |   SHARE
Posted in Toronto News by CBCI| Back to Main Blog Page

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All residential property owners in Toronto will be required to submit a declaration of their property’s occupancy status for the previous year. The deadline to declare a property’s 2022 occupancy status is February 2, 2023. The online declaration portal will open in mid-December 2022.

An annual tax will be levied on vacant Toronto residences, payable beginning in 2023.

A property is considered vacant if it has been unoccupied for more than six months during the previous calendar year or is otherwise deemed to be vacant under the bylaw PDF.

The goal of the City of Toronto’s Vacant Home Tax (VHT) is to increase the supply of housing by discouraging owners from leaving their residential properties unoccupied. Homeowners who choose to keep their properties vacant will be subject to this tax.

Revenues collected from the Vacant Home Tax will be allocated towards affordable housing initiatives.

Learn More about City of Toronto’s Vacant Home Tax

Source: City of Toronto

City of Toronto Vacant Home Tax, Toronto Housing, Toronto Living, Toronto Real Estate

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