The Daily Blog Open Mic – Tuesday – 15th June 2021

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Announce protest actions, general chit chat or give your opinion on issues we haven’t covered for the day.

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1 COMMENT

  1. 'Want to solve the housing crisis?

    Let’s do this

    Vancouver To Triple Empty Home Tax To 3% In 2021

    Vancouver is doubling down on the success of its vacant home tax…well, tripling down, technically. The Vancouver Empty Homes Tax (EHT) will be tripled from its original rate for the 2021 assessment year. The tax, which places a penalty on underused homes, was put in place to help encourage more efficient use. Vancouver Empty Homes Tax (EHT)….

    Hundreds Of Vacant Homes Are Now Being Used

    The City’s vacant home tax appears to be making a big impact, with the total number of units falling. In 2017, the first year the City had a vacancy tax, there were 2,538 homes found vacant without exception. By 2018, that number fell to 1,989, and finally down to 1,893 in 2019. When including the number of exempted homes that transitioned to tenanted use, this added over a year of housing supply…..

    The tax revenue generated is also raising cash for the City, which is being used to fund affordable housing. In 2017, the City collected $33 million from vacancy taxes. As use improved, the revenue fell to $23.3 million in 2018. Last year, that number increased to $27.9 million, despite fewer vacancies. This would imply more expensive homes are being left vacant, potentially also helping with affordability…..

    The empty homes tax has released “over a years supply of housing” on the market.

    The empty homes tax has increased council revenue by “$33 million”.

    The empty homes tax is “helping with affordability”.

    What’s not to like?

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