For 2024 taxation year the Toronto Vacant Home Tax is set to increase from 1% to 3% annually of the assessed property value. In addition to the increase of the tax rate the following changes have been approved: Change to payment due dates. Change to the definition of the current value assessment. Clarification of the six months period which means 183 days. Expansion of the definition of the tenant to include business tenant in situations where the property is assessed as residential... [read more]