Boarded-up Vacant home on Adelaide St. In West Queen West neighbourhood.
Toronto city council decided on Thursday to proceed with its revamp of the vacant home tax, despite attempts by two councillors to scrap or pause the tax.Posted: Oct 10, 2024 10:30 PM EDT | Last Updated: 1 hour ago
The tax, adopted in 2021, is meant to increase housing supply in Toronto by discouraging homeowners from leaving residential properties unoccupied.Earlier, Coun. Stephen Holyday, who represents Etobicoke Centre, moved that council cancel the tax effective immediately. His motion was defeated four to 19.
Of the 8,700 that were vacant, just fewer than 1,500 were declared vacant by property owners, while 7,200 were deemed vacant by city staff.Stephen Conforti, the city's chief financial officer, said the majority of homes determined to be vacant were condos, but city staff do not have an exact number.
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