City councillors in Vancouver are expected to vote today to impose a one-per-cent tax on empty homes. If they do so, this will be the first such tax in Canada.
The goal is to address the near-total lack of availability of homes to rent in the west-coast city and the highest rent costs in Canada.
The tax would apply to homes that are not the owner’s principal residence and are left empty for more than six months. There would be some exemptions such as for properties under renovation or owners who are in hospital.
If the measure is passed, the tax could be in place for the 2017 year, with the first payments due in 2018 and it could affect as many as 10,000 homes.
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