The city of Toronto says on its website that the goal of the 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 a tax of one percent of the property's Current Value Assessment. Revenues collected from the Vacant Home Tax will be allocated towards affordable housing initiatives.
Owners of properties in Toronto that are classified within the residential property tax class are required to declare occupancy status every year. The deadline to declare is February 29, 2024.
Use the URL below to get to the City of Toronto webpage to submit your declaration.
If you do not qualify for an exemption, the city will send you a notice at the end of March showing your VHT amount owing. Payment will be due in three installments in May, June and July.
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