Toronto Vacant Property Tax

The Toronto Vacant Property tax went into effect on January 1, 2023.

The tax will be imposed on all properties deemed vacant for more than six months during the previous year.

The tax will be due annually and is calculated as one percent of the current value assessment (CVA) of the home. For example, if the CVA of your property is $1,000,000, the tax amount billed would be $10,000 (1% x $1,000,000).

If vacant in 2022, the tax is to be paid in 2023. A vacant home tax notice will arrive in March/April with payment due on May 1st.

To learn more or to access the declaration, click here.