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Empty-home tax rollback? Mike Howell / Glacier Media - May 5, 2023 / 9:12 am | Story:. An independent review report of the speculation tax shows it is working in existing areas by helping to keep housing.
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  • government has said more than 99 per cent of homeowners in the province are exempt, but everyone in a taxable area must declare annually.
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    The tax discourages real estate speculation that inflates home prices and turns empty housing into homes, including 18,000 condos in Metro Vancouver according to a 2021 Canada Mortgage and Housing Corporation report.

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    The Underused Housing Tax is an annual 1% tax on the ownership of vacant or underused housing in Canada that took effect on January 1, 2022.

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