In August and September, 2017 Gen Squeeze & others participated in City of Toronto consultations on whether and how to implement a vacant homes tax.
Right now, councillors are awaiting a report from City staff with recommendations on how the tax could work.
This measure could be a game changer that helps free up supply and rein in costs...
... But only if we make it loud and clear that residents support the tax.
There are several steps to go before a vacant home tax becomes reality, and we need to keep the pressure on.
A vacant home tax has the potential to quickly transition thousands of existing homes into the rental supply, and at no cost to the public purse.
As part of the consultation phase, we suggested the following:
Time and again, the GenSqueeze community has leapt into action to help pass bold legislation.
We helped pass Vancouver’s vacant home tax last November. In the spring of 2017, we mobilized and played a key role in shaping the Ontario Government’s Fair Housing Plan, which included a measure that gives municipalities the power to implement a vacant home tax.
The Code Red housing crisis is complex and there are no silver bullet solutions, but a vacant home tax is a necessary and bold step toward a comprehensive solution.