Toronto Vacant Home Tax rate has increased from 1% to 3%

Changes to the Toronto vacant home tax have been incorporated into By Lawyers commentaries, including:

• information about the new vacant home tax declaration portal;
• the increase in the tax rate from 1% to 3% of the current value assessment for the property; and
• the deadlines for filing declarations of property use in 2025.

By Lawyers commentaries also keep track of noteworthy caselaw. Recent decisions discussing the duty to mitigate and the entire agreement clause in the agreement of purchase and sale have been noted, adding a contemporary take on the court’s interpretation of important issues for all real estate practitioners.

By Lawyers is committed to monitoring legislative and caselaw changes to ensure all publications remain at the forefront of practice.