Hamilton introduces new Vacant Unit Tax bylaw
- Michael Kras
- Posted 1 week ago
Hamilton has officially introduced a new Vacant Unit Tax (VUT) bylaw in an effort to combat some impacts of the housing crisis.
The new bylaw requires property owners to submit a declaration to the City regarding the occupancy status of their residential properties at the beginning of each year, according to a release.
As of 2025, vacant residential properties will be charged one per cent of the property’s assessed value, with net revenue generated from this tax to be reinvested into affordable housing.
The City defines a residential unit as ‘vacant’ if it has been unoccupied for more than 183 days in the previous calendar year, or is deemed to be vacant under the bylaw.
We are finally over the finish line in #HamOnt on the #VacantUnitTax with Council’s approval today of the new vacant unit tax by-law which aims to increase housing supply. Five years in the making since I first led on the issue in 2019. https://t.co/dM3PIYv6AP
— Nrinder Nann (@NrinderWard3) April 24, 2024
Exceptions to this include primary residences, owners of eligible non-profit housing units, the death of an owner, homes under renovation, sale of the property, or the owner being in medical care.
“In the face of a declared housing crisis, it is unacceptable for there to be units sitting vacant in the City of Hamilton, which is why I am so pleased to see Council’s reconsideration and approval of the vacant unit tax,” said Mayor Andrea Horwath in a release.
“The vast majority of Hamilton property owners won’t pay this tax, but the benefits will be felt across the city. We are doing everything we can to increase the availability and affordability of housing, and the VUT is one of many tools being used to address the unprecedented housing crisis facing our city.”
See more on the City website.
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