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Every owner of residential property in Vancouver is required to submit a property status declaration each year to determine if their property is subject to the tax.
Properties deemed empty will be subject to a tax of 1% of the property’s assessed taxable value.
Most homes will not be subject to the tax, as it does not apply to principal residences or homes rented for at least six months of the year; however all homeowners are required to submit a declaration.
Net revenues from the Empty Homes Tax will be reinvested into affordable housing initiatives.
The Empty Homes Tax is also known as the Vacancy Tax and is imposed under the Vacancy Tax Bylaw No. 11674.
What is a “vacant” or an “empty” property?
Properties are considered to be vacant if they have been unoccupied for more than 180 days during the tax year (Jan 1 – Dec 31).
Failure to make a property status declaration will result in a property being deemed vacant and therefore subject to the Empty Homes Tax.
Tenants Have You Been Refused By a Landlord?
THIS COULD BE FRAUD!
THEY LANDLORD COULD BE ADVERTISING BUT NOT REALLY LOOKING TO RENT TO ANYONE! ALL TO AVOID THE VACANCY TAX!
IF YOU HAVE BEEN REFUSED AN APARTMENT MAKE SURE YOU CONTACT THE CITY TO MAKE SURE YOUR POTENTIAL LANDLORD IS NOT "PLAYING GAMES!"
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