Vancouver Empty Home Tax Calculator 2024
What is the Vancouver Empty Homes Tax?
The Vancouver Empty Homes Tax is a tax on empty homes in the City of Vancouver. All homeowners in Vancouver are required to complete a property status declaration at the beginning of each calendar year by the start of February, which will determine if your home is subject to the tax. Generally, your home will be subject to the empty homes tax if it was unoccupied in the previous calendar year; however, there are several exemptions to this. The City of Vancouver’s Empty Homes Tax was launched in 2017 and city revenues from the tax are reinvested into building affordable housing initiatives.
How is my empty home tax calculated?
Vancouver Empty Home Tax Rates
For the 2023 reference year (January 1-December 31, 2023), if your property was declared as empty, you will be required to pay a 3% tax on the assessed value of your property. Earlier this year, the city council of Vancouver had approved increasing the Empty Home Tax rate from 3% to 5%; however, in September, the new council voted in favour of keeping the tax rate at 3%, consistent with the rate of the tax in the previous years.
Vancouver Empty Home Tax Rates From 2017 - 2023
| Reference Year | 2017-2019 | 2020 | 2021-2023 |
|---|---|---|---|
| Empty Homes Tax Rate | 1% | 1.25% | 3% |
For example, a property deemed to be empty with an assessed value of $1M will be subject to a 3%, or $30,000, Vancouver empty home tax for the reference year of 2023.
Vancouver homeowners are responsible for both the Vancouver Empty Homes Tax and the British Columbia Speculation and Vacancy Tax.
Who Is Required to Pay the Vancouver Empty Homes Tax?
All residential homeowners in Vancouver are required to complete a declaration for the empty home tax each year, but most will be exempt from paying the tax due to common exemptions. You can find out if you need to pay the empty home tax by completing the Empty Homes Tax Questionnaire.
Common exemptions include:
- Principal Residence: You or a permitted occupier (someone who you allow to live on your property such as a family member or friend) occupy the residence for more than six months of the reference year
- Rented Out: You have rented your property out to a tenant for at least six months of the reference year
- Construction or Renovation: Your property is undergoing major construction, renovation, or redevelopment that causes it to be vacant for at least six months of the year
- Buying or Selling During the Year: You bought or sold your property during the reference year
How to Complete Your Declaration
All property owners in Vancouver must complete the Empty Homes Tax Declaration by February for the previous reference year and pay any outstanding balance by April. For example, for the 2023 reference year, you would be required to complete the declaration by February 2024 and pay any outstanding balances by April 2024. You can complete your declaration on the City of Vancouver’s website. The city now allows homeowners to file late declarations up to 5 years from the reference year upon payment of a late filing penalty. This means that if your home was vacant in 2019, you could file a late declaration till December 31, 2024.
You will need to provide the following to complete your declaration:
- Your name and contact details
- The status of your property (vacant or exempt)
- Any additional information as stated on the back of your property tax notice
- Your folio number and access code
You can find your folio number and access code on your property tax notice
What Can You Do If Your Property Is Empty or Underutilized?
There are many options available if your property is vacant or not lived in for most of the year that can help you make the most of your property and save on tax.
For example, you can choose to:
- Rent out your property
- Lend your property to a permitted occupier (friend or family member) as their principal residence for more than six months of the year
- Occupy your property as your principal residence for more than six months of the year
- Hire a property management firm to help you rent out and manage your property
- Sell your property
History, News and Impact of the Vancouver Empty Homes Tax
Vancouver’s vacancy rates have been the lowest in Canada among major cities over the past 50 years, and the city continues to make efforts to keep the vacancy rate low. Vancouver’s Empty Homes Tax was first launched in 2017 to return vacant homes to the rental market for people who live and work in Vancouver. After the launch of the EHT, more people are choosing to sell or rent out their homes, and this increases the number of homes available for rent. Since then, the City of Vancouver has seen year-over-year improvement as the number of empty homes has decreased, and the number of homes available for rent has increased. According to the Empty Homes Tax Annual Report released in November 2022, the number of homes declared vacant in 2021 was 1,398, a 20.3% reduction from the previous year. Meanwhile, it was also reported that of the 1,755 homes declared vacant in 2020, 49% were occupied in 2021.
The City of Vancouver also uses revenue from the EHT to fund affordable housing initiatives in Vancouver that help increase the supply and affordability of social housing and support renters. The estimated revenue from the tax and penalties for the year 2022 was $68.8 million, of which $32.5 million has been collected.
Get More Information
Any questions regarding the Empty Homes Tax can be directed to the City of Vancouver online or by calling 604-873-7000.
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