Toronto Vacant Home Tax and Occupancy Declaration

1. An annual tax to be levied on Vacant, Toronto, Residential Property, payable beginning in 2023. 
2. An annual online declaration requirement which requests ALL Toronto residential property owners to declare the occupancy status of their Toronto property, even if the property is occupied.

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• This new rule is only applicable for:
  • Residential properties located in the City of Toronto
    • commercial properties are exempt
    • properties outside of the City of Toronto are exempt, such as Québec, Richmond Hill, etc.
      • if your property tax bill is issued by the City of Toronto, then you are required to make this declaration for this property

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• All Toronto Home Owners are required to make this declaration by Feb 2, 2023
  • Declaration is required regardless if the property is vacant or occupied
  • Declaration is to be done online - see attached our 'step-by-step' instruction manual for your reference
    • link for online declaration: https://www.toronto.ca/services-payments/property-taxes-utilities/vacant-home-tax/
  • Declaration is due by Feb 2, 2023 and must be completed each year going forward
  • A late declaration or failure to make a declaration will result in a minimum fine of $250 and may result in your property being deemed vacant, i.e. Vacant tax will be assessed

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• If your property is vacant or deemed vacant, the Vacant Home Tax = 1% of the Current Value Assessment of the property
  • Vacant Home Tax payments are due in three equal instalment amounts on the due dates of May 15, June 17 and July 15