Property owners will have a longer time to declare occupancy and be able to do so through a more user-friendly portal. 

In October, Toronto City Council approved an increase in the tax rate for vacant properties from one per cent to three per cent for the 2024 taxation year, which will become payable in 2025.

Toronto homeowners now have until February 28 to declare their property’s occupancy status for the Vacant Home Tax.

The goal is to curb homeowners from keeping their properties empty as the availability and affordability of housing stagnates in the city.