A tax levied by the City of Toronto on unoccupied homes to help with the limited supply of homes in the metropolis.
Introduced in 2022, the amount charged is a percentage of your homeās Current Value Assessment (CVA).
| Year | Vacant Home Tax (% of CVA) |
|---|---|
| 2022 | 1% |
| 2023 | 1% |
| 2024 | 3% |
To avoid paying the tax, youāll have to declare that your home is not vacant by Feb the following fiscal year.