The majority of homes with an Empty Homes Tax exemption declared were due to the property changing hands or to redevelopment or renovation, according to a press release issued by the City of Vancouver May 25.
“Of the 5,200 properties declared exempt from the tax, the majority of those in Downtown Vancouver and the neighbourhoods surrounding False Creek — Kitsilano, Fairview, Mount Pleasant, Strathcona and Grandview-Woodland — claimed an exemption due to transfer of the property during the year,” the release states.
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