Toronto Vacant Home Tax

All residential property owners in Toronto will be required to submit a declaration about the use of their property in the previous year. Declare the use of the property in 2024. Is it rented out? Occupied? Or vacant? The 2024 declaration period is from November to April 30, 2025. The online declaration portal will be open in November 2024.

Will this policy affect the real estate you hold? How do you know whether your house needs to be declared separately to the government?

You can check your local tax bill. If you are from Toronto, please pay attention to the time to declare. Mandatory reporting of usage status. All residential property owners in Toronto will be required to declare the status of their properties annually. The declaration must be made by the homeowner or someone on behalf of the homeowner. Filing will determine whether the vacant properties tax is applicable and payable.

A principal residence can be vacant for up to six months throughout the tax year without paying tax.

How to calculate it?

A vacant residence tax of 1% of the current value assessment (CVA) will be imposed on all Toronto residences that have been declared, deemed or determined to be vacant for more than six months in the previous year.

For example, if your property’s CVA is $1 million, the tax billed would be $10,000 (1% x $1,000,000).

Taxes are based on the property's status during the previous year. For example, if the home is vacant in 2023, taxes will begin to be paid in 2024.

How to declare?

You will need your 21-digit assessment roll number and the customer number from your tax bill or property tax account statement.

Usage declarations should be made through the City’s secure online declaration portal, which will open in mid-December 2022. If needed, homeowners can obtain a paper declaration form by contacting 311. Paper forms must be completed in full and received by the City of Toronto by the deadline to avoid being fined and having the property considered vacant. Incomplete forms will not be accepted. Please note Canada Post delivery times.

What will happen if you don’t declare?

If the owner fails to file an annual return and/or provide supporting documentation by the deadline, the residential property will be considered vacant.

If the statement you submitted contains an error, you can:

• Submit a new return before the April 30, 2025 filing deadline;

• If it is after the filing deadline, submit a notice of complaint;

• Failure to file or making a false declaration may result in fines ranging from CAD$250 to CAD$10,000.