Vacancy tax: Difference between revisions
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'''Vacancy tax''' is a tax on empty or under-utilized residential properties |
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Vacancy tax (stub) |
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== Vancouver == |
== Vancouver == |
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*Most homes will not be subject to the tax, as it does not apply to principal residences or homes rented for at least six months of the year; however all homeowners are required to submit a declaration. |
*Most homes will not be subject to the tax, as it does not apply to principal residences or homes rented for at least six months of the year; however all homeowners are required to submit a declaration. |
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*Net revenues from the Empty Homes Tax will be reinvested into affordable housing initiatives. |
*Net revenues from the Empty Homes Tax will be reinvested into affordable housing initiatives. |
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*The Empty Homes Tax is also known as the Vacancy Tax and is imposed under the Vacancy Tax By-law No. 11674.<br/> |
*The Empty Homes Tax is also known as the Vacancy Tax and is imposed under the Vacancy Tax By-law No. 11674.<br/> |
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See Also |
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*[[Land value tax]] |
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*[[Vacant land tax]] |
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== References == |
== References == |
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*New York Times Editorial Board. "[https://www.nytimes.com/2017/11/19/opinion/nyc-empty-stores.html Why Is New York Full of Empty Stores?]" ''New York Times. ''NOV. 19, 2017. <br/> [https://www.nytimes.com/2017/11/19/opinion/nyc-empty-stores.html. |
*New York Times Editorial Board. "[https://www.nytimes.com/2017/11/19/opinion/nyc-empty-stores.html Why Is New York Full of Empty Stores?]" ''New York Times. ''NOV. 19, 2017. <br/> [https://www.nytimes.com/2017/11/19/opinion/nyc-empty-stores.html. https://www.nytimes.com/2017/11/19/opinion/nyc-empty-stores.html. ] |
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Revision as of 22:37, 16 January 2018
Vacancy tax is a tax on empty or under-utilized residential properties
San Francisco (proposed)
Vancouver
"To address Vancouver’s housing crisis, we have implemented an annual tax on empty or under-utilized residential properties called the Empty Homes Tax. Every owner of residential property in Vancouver is required to submit a property status declaration each year to determine if their property is subject to the tax.
- Properties deemed empty will be subject to a tax of 1% of the property’s assessed taxable value.
- Most homes will not be subject to the tax, as it does not apply to principal residences or homes rented for at least six months of the year; however all homeowners are required to submit a declaration.
- Net revenues from the Empty Homes Tax will be reinvested into affordable housing initiatives.
- The Empty Homes Tax is also known as the Vacancy Tax and is imposed under the Vacancy Tax By-law No. 11674.
See Also
References
- New York Times Editorial Board. "Why Is New York Full of Empty Stores?" New York Times. NOV. 19, 2017.
https://www.nytimes.com/2017/11/19/opinion/nyc-empty-stores.html.
- Pender, Kathleen. "Should SF tax empty homes and buildings?" San Francisco Chronicle. 22 July 2017.
http://www.sfchronicle.com/business/networth/article/Should-SF-tax-empty-homes-and-buildings-11306541.php.
- Vancouver, City of. "Empty Homes Tax." http://vancouver.ca/home-property-development/empty-homes-tax.aspx.
accessed 18 Jan 2018.