Deadline to declare 2023 occupancy status approaches

The City of Toronto will issue Vacant Home Tax Notices at the end of March 2024 to owners of properties subject to the tax. All residential property owners in Toronto are required to declare the occupancy of their property on an annual basis.⁠
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For the 2023 taxation year, a Vacant Home Tax of one per cent (1%) of the Current Value Assessment of the property will apply to residences that are vacant or deemed vacant for more than six months during the previous calendar year. For example, if the home is vacant in 2023 the tax will become payable and due in three instalments in May, June and July of 2024. For 2024 and future taxation years, the tax will increase from 1% to 3% of the Current Value Assessment.⁠
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Effective January 1, 2024, a fee of $21.24 will be charged if a declaration is not submitted by the February 29, 2024 deadline. A late declaration or failure to make a declaration and/or provide supporting documentation, will result in a fine of $250 and may result in a property being deemed vacant. Once deemed vacant, the property owner will be subject to the Vacant Home Tax and will be issued a Vacancy Tax Notice. A false declaration may result in a fine of up to $10,000 for each offence.⁠
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The declaration of occupancy status is made through the City of Toronto’s online declaration portal or a paper declaration