VANCOUVER EMPTY HOME TAX

Homes in Vancouver which are unoccupied for 6 full months of the year or more, will be subject to the 1% EMPTY HOMES TAX.


The tax is equal to 1% of the property's taxable assessed value in addition to the existing property tax and will be applied annually.


Who won't be subject to the tax?


Residences being used as a principal residence by the owner, a family member, a friend or any other person occupying with the permission of the owner but is not a tennant or sub tennant, will NOT be charged the tax.


Nor will properties that are rented long term (with a written tennancy agreement) for at least 30 days in a row for a minimum of 6 months in aggregate over the course of a year.


For greater detail and how this particular tax applies to you, it is always important to seek proper advice such as with an accountant or lawyer. More info also available at:


https://vancouver.ca/home-property-development/empty-homes-tax.aspx


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Michael Geller, a contributor to the Vancouver Courier re: real estate/housing issues, always has a clear and calm view of the situation.

Six False Creek affordable housing lots still empty after three decades: Vancouver Sun front page story March 10, 2018

      
While I didn't write this story, I feel partially responsible for it.
     During the recent debate about the forthcoming North-east False Creek development, much was made of the city's promise to include significant affordable housing. This prompted me to comment that this was a noble goal, but before getting too excited about these units, what about the 6 empty social housing parcels lying fallow along the North Shore of False Creek?
     I knew about these parcels because I was given a tour of them by Concord Pacific during the 2008 municipal election. Furthermore, I was involved as an expert witness in a lawsuit over them a few years ago. Following my comments, Lori Cuthbert contacted me. I happily put her in touch with Cameron Gray, who was the City's Housing Director, and while not directly involved in the acquisition of these sites, knew why they remained undeveloped.
     I told Lori that I thought it was outrageous that these sites remained undeveloped, not as a criticism of Concord Pacific, but rather of the city, province and feds who could have come up with a strategy to see these parcels developed with affordable housing, even in the absence of deep government subsidies. Enough said.

     http://vancouversun.com/news/local-news/three-decades-ago-six-big-lots-in-vancouvers-trendy-false-creek-were-reserved-for-affordable-housing-they-remain-empty-today-will-these-600-homes-for-families-and-seniors-finally-be-built