Newspaper article The Canadian Press

BC Audio 4:05 PM ET

Newspaper article The Canadian Press

BC Audio 4:05 PM ET

Article excerpt

BC Audio 4:05 PM ET

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BC03 - (Empty-Homes-Tax)

VANCOUVER. x-22s. The city of Vancouver will be collecting 30 million dollars in the first year of its empty homes tax that affects 85-hundred vacant properties. Homeowners are subject to a one per cent tax based on a property's assessed value if they didn't live in their home or rent it out for at least six months of the year. Mayor Gregor Robertson says the 17 million dollars was already collected by the April deadline, with the median tax calculated at just under 10-thousand dollars per household.

("... desperately needed.") (SOURCE: The Canadian Press)

TAG: Robertson says it's unclear exactly how many homes were put back into the rental market, and the city is working on improving data collection so it can monitor the vacancy rate more closely in the future. …

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