The city of Vancouver has floated the idea of an ’empty home tax’ to help encourage the availability of rental supply. Today is the last day they will take feedback online for this idea.
If you have ideas for or against an empty home tax now is the time to have your input. What should be taxed and what should be exempt?
Best Place on Meth points out a rather obvious loophole and asks how it would be dealt with. Will there be baseline expectations for what is or isn’t market rent?
What’s to stop these owners from listing it for rent at some outrageous price that nobody will pay and then claiming they did try to rent it out?
What do you think – is the idea of an empty home tax a good or bad approach to Vancouvers housing problems?