Due to low vacancy rates, the City of Vancouver is considering implementing a 1% Tax on Empty Homes to encourage owners to rent out their vacant property. The city is scheduled to listen to the recommendations this morning and vote on it asap.  If approved, the tax will come into effect in January 2017, but qualifying owners will not be required to pay until the following year. The tax will apply to non-principal residences left empty for at least 6 months of the year. The city is currently proposing the following exemptions:

  • If the home is in a strata which does not allow rentals
  • Owner is recently deceased and the estate is in probate
  • Owner is in residential care
  • Home undergoing major renovations with permits
  • Living in the home for the majority of the year for work or study purposes, but claims principal residence elsewhere
  • Property underwent a change in ownership

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