Empty Homes Tax
An Empty Homes Tax Is a tax on homes that are not lived in for more than six months of the year. A home that is lived in by its owner or a tenant for at least six months does not have to pay this tax.
Province of British Columbia
[change | change source]The Province of British Columbia, Canada charges an empty homes tax. The rate of the tax which is charged depends on if you are a Citizen of Canada. This tax is not the same as the City of Vancouver's empty homes tax. [1] [2]
Vancouver, British Columbia
[change | change source]In the Canadian city of Vancouver, the empty home tax is one percent of the assessed value of the home. A CBC report said that rental vacancy rate rose only 0.1% after the tax started. The report also said that the tax was going to bring the city $38 million.[3] The city spent $10 million putting this new tax in 2018 into effect.[4]
Santa Cruz, California
[change | change source]In the City of Santa Cruz a group is trying to put a measure for an empty home tax for the November 2022 ballot. The group has registered with the California Secretary of State as a ballot measure committee to support the passage of the ballot measure.[5] The "Empty Home Tax" would create a tax on homes that are lived in for less than 120 days of the calendar year. A home that is lived in by owner or tenant for at least 120 days do not have to pay this tax. This tax also does not apply to homes whose owners have hardships such going into long term care, long hospital stays and other reasons.[6]
Related pages
[change | change source]References
[change | change source]- ↑ Finance, Ministry of. "Tax rates for the speculation and vacancy tax - Province of British Columbia". www2.gov.bc.ca. Retrieved 2022-04-25.
- ↑ Finance, Ministry of. "How the speculation and vacancy tax works - Province of British Columbia". www2.gov.bc.ca. Retrieved 2022-04-25.
- ↑ Empty homes tax not helping rental crisis, generating millions more for Vancouver: report, CBC Canada
- ↑ Half of Vancouver property owners have filed Empty Homes Tax declarations, Vancouver Courier
- ↑ "California Secretary of State Campaign Finance". 2021.
- ↑ "Fund affordable housing". Empty Home Tax. Archived from the original on 2021-06-25. Retrieved 2021-06-25.
Other websites
[change | change source]- Official website (Vancouver)
