Council unanimously decided to scrap the idea of implementing a Vacant Home Tax.
A Vacant Home Tax aims to alleviate housing shortages by imposing fees on property owners of unoccupied homes, encouraging them to sell or rent these properties, in turn increasing housing supply and generating revenue for affordable housing initiatives.
A feasibility report and staff recommendations were presented to Council at their Tuesday meeting. The report said that steep implementation costs and additional charges for administrative upkeep, along with uncertain outcomes, led city staff to suggest the idea be put to rest.
Council followed the recommendation and opted to explore alternative strategies for enhancing affordable housing.
