As your trusted real estate advisor, I wanted to remind you that it is that time of year to declare your home as either vacant or occupied with the City of Toronto to avoid having topay the Vacant Home Tax.
In 2023, the City of Toronto introduced the Vacant Home Tax (VHT) to encourage property owners to occupy or rent out their residential properties. If your property was vacant for more than six months during this previous year, you may be subject to a tax. There are a few exemptions if your home was indeed vacant. You can find that list here.
Importantly, all homes must be registered. You are required to declare the status even if you have been living in your home.
Vacant Home Tax Key Details:
Declaration Deadline: April 30, 2025
Penalty for Non-Compliance: Failure to declare your property’s status may result in a fine and/or your property being deemed vacant and leading to an additional tax bill.
How To Declare: Declarations can be made online through the City of Toronto’s Vacant Home Tax portal. Log in using your customer number and assessment roll number. Both can be found on your property tax bill or Vacant Home Tax notice.
Remember – if your property was occupied for more than six months in the previous year, you are still required to declare its status. Don’t forget to complete your declaration before the deadline!