The objective of the Empty Homes Tax (Vacancy Tax) is to return empty or under-used properties to use as long-term rental homes for people who live and work in Vancouver.
The rate of the Empty Homes Tax is 1.25% of a property’s assessed taxable value. The vacancy tax will increase from 1.25% to 3% for the 2021 vacancy reference year.
All owners of Class 1 Residential External website, opens in new tab properties within the City of Vancouver are required to submit a property status declaration each year to determine if their property is subject to the tax.
