Toronto homeowners have until the end of February to declare if their home is vacant
Story continues below advertisement
The goal of the vacant home tax is to increase the supply of housing by discouraging homeowners from leaving their properties unoccupied, the city said.The tax — one per cent of the current value assessment — will be imposed on all residences in the city that are declared, deemed or determined to be vacant.
However, the tax doesn’t apply to properties that are the principal residence of the owner, homes that are the principal residence of an occupant or tenant or properties that qualify for an exemption.The city said money collected from the Vacant Home Tax will be “allocated towards affordable housing initiatives.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sixteen things to see, do, read and hear in Toronto this FebruaryThese cultural events, including an outdoor gallery of breathtaking ice sculptures, will help you beat the winter blues this February
Read more »
TTC rider shares frightening subway encounter: ‘I was physically cornered to my seat’ - Toronto | Globalnews.caAs new safety measures go into effect on the TTC, one transit user describes her own disturbing encounter this past weekend while on the subway.
Read more »
Sherdog’s Top 10: Can’t-Miss Fights of FebruaryIslam Makhachev will defend the undisputed Ultimate Fighting Championship lightweight crown against reigning featherweight titleholder Alexander Volkanovski in the UFC 284 headliner on Feb. 11.
Read more »
5 Things to Do in Vancouver This Week (January 30- February 5)Including a celebration of poutine; a one-day-only, closed-loop fine-dining pop-up; and the final week of PuSh Festival, here you have 5 things to do in Vancouver this week! (January 30 - February 5) vancouver vancouverbc vancouver_canada vancouverbc
Read more »