Vacant Home Tax CalculationĪ Vacant Home Tax of one per cent of the Current Value Assessment (CVA) will be levied on all Toronto residences that are declared, deemed or determined vacant for more than six months during the previous year. The declaration determines whether the Vacant Home Tax applies and is payable. Declarations must be made by the homeowner or someone acting on behalf of the owner. Mandatory Declaration of Occupancy StatusĪll residential property owners in Toronto are required to declare the occupancy status of their property(s) annually, even if they live there. Revenues collected from the Vacant Home Tax will be allocated towards affordable housing initiatives.
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