VANCOUVER CITY – Empty Homes Tax
The City of Vancouver has began its empty homes tax audit system.
Homeowners must claim if their residence is empty by February 2, 2018. The city has already sent out notices requesting property owners to provide evidence to support their declaration.
The Mayor, Gregor Robertson, announced that this tax will reassure the best use of housing and can help increase the rental quantity for people who live and work in the city.
Who needs to pay Empty Home Tax?
- Owners of non-principal residences unoccupied for six months or more each year will pay this tax.
Who doesn’t need to pay Empty Home Tax?
- Vancouver home owners, including CSA’s;
- Owners of principal residences;
- A house with a basement suite or a laneway house if one of the units is occupied; and
- Owners of properties rented long-term (with a tenancy agreement), for at least six months.
Important Deadlines:
Property status declaration (December): Owners will receive notification to complete a property status declaration with their advance property tax notice every December.
February 2, 2018: Deadline for all home owners to complete their declaration stating whether their home is a principal residence or empty.
April 16, 2018: Empty homes tax payment due.
December 31, 2018: Unpaid tax added to the property tax bill.
*Those who don’t declare by the deadline will have their homes declared as vacant. They will be fine $250.00 and taxed at a 1% rate of the properties (accessed) taxable value. *
Download/Submit your declaration here: http://vancouver.ca/home-property-development/declare-property-status.aspx
