Complete Guide to Toronto’s Vacant Home Tax
The Vacant Home Tax (VHT) in the City of Toronto was introduced as a tool to encourage property owners to either occupy, rent out or sell homes that would otherwise sit empty. According to the City’s website, it is intended to:
- Help increase housing supply by identifying and discouraging properties that are unoccupied for more than six months during a calendar year.
- Generate revenues from the tax for funding affordable-housing initiatives (for example the City’s “HousingTO Plan” and the “Multi-Unit Residential Acquisition (MURA)” program).
…