If you own a home in Toronto, you are legally required to report whether your property is vacant or occupied each year, regardless of its actual status. This applies to all homeowners, even if your home is not vacant. The Vacant Home Tax (VHT), introduced to address housing affordability issues, requires annual declarations to the City. If you fail to report by the deadline, your home will be classified as vacant and subject to the tax.
The reporting process is simple and must be completed online between January and February each year. Missing the deadline or failing to submit an accurate report can result in hefty fines until the report is filed. It’s important to note that exemptions may apply, such as for homes under renovation or those occupied for part of the year, but proper documentation is essential.
Even if your property is occupied, you still need to report it to avoid the Vacant Home Tax. The City is actively enforcing this rule, and homeowners who don’t comply risk significant penalties. Be sure to submit your annual declaration on time to avoid unnecessary fines and stay compliant with Toronto’s housing regulations.
Don’t risk fines or penalties—report your property’s occupancy status to the City of Toronto today! Whether your home is vacant or occupied, it’s crucial to submit your declaration by the annual deadline to avoid the Vacant Home Tax. Visit the City’s website to complete your report now and stay compliant. Make sure you act before the deadline to protect your property and your wallet!
