Greater Toronto Area Vacant Home Tax Pros and Cons
Posted by Frank Polsinello on
The Greater Toronto Area (GTA) has seen a significant rise in the number of vacant homes in recent years, leading to the implementation of a vacant home tax in an effort to increase housing affordability and availability for residents. The tax, which was introduced in 2017, aims to encourage owners to put their vacant homes back on the market for rent or sale, thereby increasing the supply of available housing and reducing the pressure on the city's housing market.
Pros of the Vacant Home Tax
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Increased housing availability: The primary goal of the vacant home tax is to increase the availability of housing in the GTA by incentivizing owners to put their vacant homes back on the market. This will help to reduce the pressure on the city's…
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