Owners of empty homes in Vancouver could soon be paying as much as an extra two per cent tax on their properties, Mayor Gregor Robertson revealed this morning.
While the tax is expected to generate $2 million a year in revenue for the city, Robertson stressed the primary aim is to encourage owners to rent out investment properties that might otherwise sit empty.
“Vancouver’s dangerously low vacancy rate is putting our renters in crisis. Our proposed empty homes tax is first and foremost about bringing rental homes back into the market,” said Robertson.
