Vancouver Approves Empty Homes Tax in Effort to Increase Rental Housing Supply

  • Page Views 1437
  • Empty Homes Tax aims to boost rental housing availability as City faces lowest rental vacancy rate and highest rental costs in Canada

    Vancouver City Council has approved a program that will introduce a one (1) per cent tax on empty homes. Targeting as many as 22,000 empty or under-utilized homes in Vancouver, the Empty Homes Tax will apply to those properties that are not an owner’s principal residence or being rented on a long-term basis. Vacant residential land will also be subject to the Tax.

    “In Vancouver’s rental housing crisis, the City can’t afford to sit on the sidelines while more than 20,000 empty and underused homes hold back badly-needed longer-term rentals,” says Mayor Gregor Robertson. “The Empty Homes Tax won’t solve the rental crisis, but it’s one piece of the puzzle to boosting rental supply and bringing relief to renters by turning thousands of empty and underused homes into rental properties. In this tough housing market, it’s unacceptable for so much housing to be treated as a commodity when people are desperate for an affordable, secure place to live.”

    Most Vancouver homeowners, including snowbirds, will not have to pay the Empty Homes Tax. Principal residences – whether of the registered owner or his/her family member – are not subject to the Tax, nor are properties that are rented for six months of the year or more, in periods of at least 30 consecutive days.

    As well, public and stakeholder consultation informed the creation of the following eight exemptions to the Empty Homes Tax:

    • The registered owner uses the property for at least six months of the year for work within the City of Vancouver, but claims a principal residence elsewhere;
    • The registered owner, occupying family member, or tenant is undergoing medical or supportive care;
    • Ownership of the property changed during the year;
    • The owner is deceased and a grant of probate or administration is pending;
    • The property is undergoing major renovations, or is under construction or redevelopment, and permits have been issued;
    • The property is subject to strata rental restrictions as of November 16, 2016;
    • The property is under a court order prohibiting occupancy; and,
    • The property’s use is limited to vehicle parking, or the shape, size or other aspect of the property precludes the ability to construct a residential building.

    For more information on the empty homes tax, visit www.vancouver.ca/emptyhomes<http://www.vancouver.ca/emptyhomes>

    Share

    New Posts Recently publish post More

    • 20 October 2018
      15 hours ago No comment

      Vote Filipino Canadian candidates in October 20 Municipal elections

      Hector Bremner (Mayor) – YES Hector Bremner is the only candidate with Vancouver City council experience running for Mayor and is Yes Vancouver’s founding mayoral candidate. Councillor Bremner’s life and career have been marked by recognizing good ideas, getting things done, and bringing people together. He feels blessed to ...

    • 20 October 2018
      16 hours ago No comment

      When nothing can stop Leni

      As Vancouver waits for the elections to be over and done with, the Filipino community, through the Philippine Bicolano Association of BC (PBABC), welcomed Vice President of the Philippines Leni Robredo, who came to Vancouver from San Diego, California, before heading back home. She brought in breath of fresh ...

    • 20 October 2018
      18 hours ago No comment

      VP Robredo Visits Vancouver

      Vice President of the Philippines Leni Robredo visited Vancouver this week to grace the 28th Anniversary of the Philippine Bicolano Association in BC (PBABC) held at the Hilton Hotel in Burnaby. Around 250 guests came to see and hear Robredo speak to the crowd of mostly eager kababayans from ...

    • 19 October 2018
      2 days ago No comment

      Citizenship Week Welcomed 6442 New Canadians

      Going to great heights with Canada’s newest citizens Ottawa, ON – This year during Citizenship Week, 6442 people became new Canadians at 72 special citizenship ceremonies across Canada. Citizenship Week (October 8-14) also marked the 1 year anniversary of Bill C 6, which brought in important changes to the ...

    • 18 October 2018
      3 days ago No comment

      Why Maine is well-loved, according to Coco

      Having worked with Maine Mendoza as his first-time leading lady, Coco Martin now understands why the actress-host is well-loved by her fans. Martin and Mendoza, along with comedy icon Vic Sotto, are starring in the Metro Manila Film Festival entry “Jack EM Popoy: The Puliscredibles.” According to Martin, they ...

    %d bloggers like this: