properties that qualify for an exemption.properties that are the principal residence of a permitted occupant or tenant.properties that are the principal residence of the owner.Though all homeowners are required to submit a declaration of occupancy status, the tax does not apply to: Homeowners who choose to keep their properties vacant will be subject to this tax. The goal of the City of Toronto’s Vacant Home Tax (VHT) is to increase the supply of housing by discouraging owners from leaving their residential properties unoccupied. Properties may also be deemed (or considered to be) vacant if an owner fails to make a declaration of occupancy status as outlined in the bylaw. An annual tax will be levied on vacant Toronto residences, payable beginning in 2023.Ī property is considered vacant if it was not used as the principal residence by the owner(s) or any permitted occupant(s), or was not occupied by tenants for a total of six months or more during the previous calendar year.
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