So far about 98% of the city's homeowners have declared their properties. Of those a total of 6,349 were either declared vacant by the owner or claimed an exemption, with many of them ending up being taxed.
The homeowners that have not declared, which is about 2%, or about 2,132 homes will automatically be deemed vacant and will be issued a tax bill this month, with a payment deadline of April 16th. If each of these property's is worth about $1 million, as most of them are condos, that would raise about another $21 million in tax revenue.
The empty home tax is 1% of the property's assessed value.
Will this be enough to encourage most of these 8,000 plus properties to became rentals? Is this a step in the right direction?
Subscribe with RSS Reader
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.
Comments:
Post Your Comment: