Toronto City Council approves vacant home tax
Empty homes in Toronto are going to be hit with an extra tax starting in 2022.
City council approved a vacant home tax Thursday in an effort to help with the availability and affordability of housing.
A house will be considered vacant if it has been empty for more than six months.
A by-law supporting the tax will take effect Saturday, January 1, 2022, becoming the start of the first tax reference year.
The tax on vacant homes become payable for the first time in early 2023, based on the occupancy status during the prior year.