Hamilton is once again looking at creating a city-wide bylaw that taxes vacant homes.
On Wednesday, council is expected to decide on passing a vacant unit tax bylaw after months of back-and-forth deliberations.
If passed, the vacant unit tax would be effective in January 2025.
The policy was revived in January 2024 after being unexpectedly voted down at the last minute in November.
READ MORE: Vacant home tax unexpectedly voted down by Hamilton council
The tax is a way to discourage properties from being left vacant for over half a year to address Hamilton’s ongoing affordable housing crisis.
City staff estimated there were over 1,000 vacant units, which would generate revenue of about $4 million in the first year with the one per cent tax.
For example, if your property value is $1 million, you would be charged $10,000 per year.
The proposed bylaw today outlines how the tax will work, including a requirement that every owner declare whether a unit is vacant or not.
This was something seen in Toronto, where thousands of homeowners were taxed for not submitting their declarations on time.
There are some exemptions to the bylaw that were updated in the motion this January, including non-profit housing projects and properties undergoing major renovations.
