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I'd like to see areas with chronic shortages implement vacancy taxes. A rental unit that sits empty for 3 months starts getting taxed at 20% of the fair market
by jandrese 3y ago
I'd like to see areas with chronic shortages implement vacancy taxes. A rental unit that sits empty for 3 months starts getting taxed at 20% of the fair market rent for the unit every month, and that percentage goes up 20% every month up to 100% after 7 months.
- martythemaniak 3y agoYou can do it, but it doesn't matter. Places that have been struggling with high prices for a long time (Vancouver or Toronto for example) have tried various flavours of vacant homes tax, foreign buyers tax etc and it didn't make a difference.