Toronto residents should be certain to file new Vacant Home Form by February 2

FRIDAY, JANUARY 6, 2023

There is a new tax in the City of Toronto, the vacant home tax.

Even if the tax does not apply to you, it is important you submit your declaration before the February 2 due date to avoid a $250 penalty. The majority of homeowners will not need to pay the tax, but the paperwork still needs to be filed.  

Should you fail to make the declaration on time, you will need to submit a late declaration in order to avoid being deemed as owning a vacant property and assessed accordingly. It's not worth the hassle of needing to submit past the deadline and dealing with delays and questions.

The tax does not apply to your principal Toronto home or any active rental properties. Vacant homes will receive a tax equal to 1% of your residential property up to $10,000.

Other exemptions would allow an exemption from the tax. One such exemption is if the property is required because of employment. Full details on the vacant home tax and its exemptions can be found here - https://www.toronto.ca/services-payments/property-taxes-utilities/vacant-home-tax.

Please reach out to your RMT representative if you have any questions.