11/9/2023 0 Comments What is the meaning of occupied![]() The tax will be calculated at a rate of 1% of the property's assessed value, and the tax will be applied to the Final Tax Bill, which is due on the third Thursday of June (June 15 in 2023). ![]() The first year the tax will be payable is 2023, based on the status of the property in 2022. If the residential property has been declared or deemed vacant for more than 184 days in the previous calendar year and does not meet one of the exceptions outlined below, then the Vacant Unit Tax will be applied to your property. ![]() Eligible property owners will receive reminders to declare each year. If you own more than one property, you must submit a declaration for each. Review the list of eligible properties outlined in the by-law.Īll residential property owners are required to submit an annual property declaration starting in January 2023, even if you are using the property as your principal residence. Not all residential property codes are required to submit a declaration. The property code can be found on the back of the bill of your most recent Final Tax Bill. Eligible PropertiesĮligible properties are determined using the property code assigned by the Municipal Property Assessment Corporation (MPAC). The tax applies only to properties in the residential tax class (excludes commercial, industrial, and multi-residential properties). ![]() Properties qualifying for one of the available exemptionsĪ residential unit is considered vacant if it has been unoccupied for an aggregate of more than 184 days during the previous calendar year.Ī unit will be considered vacant if it was not used as a principal residence and has been unoccupied for more than 184 days in the previous calendar year.Properties occupied by a family member, friend, or other resident using it as their principal residence.The tax does not apply to, but a declaration is still required for: All residential property owners will be required to register the status of their property during the previous year if no declaration is made, the property will be deemed vacant and will be subject to the tax. ![]()
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