The Public GalleryToronto

Executive Committee · 2019-11-14 · 2019.EX10.7

The filed record

Update on the Review of a Potential Vacant Property Tax in Toronto

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The decision

2019-11-14 · Executive Committee · adopted

As filed

The Executive Committee: 1. Requested the City Manager and the Chief Financial Officer and Treasurer to bring forward a report with the 2020 Budget on "EX 26.4, Implementing a Vacant Home Tax in Toronto" which was approved at Toronto City Council on July 4th, 2017. Such report to include, but not be limited to the following: a. specific information on the consultation process to date; b. the public policy benefits as assessed to date; c.

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the potential tax design features of a vacant home tax; and d. the assessment of the Vancouver Approach.

On the agenda

As the city filed it

On July 4th, 2017 Toronto City Council approved a motion directing City staff to undertake a thorough review and consultation process on the potential benefits of the implementation of a Vacant Home Tax in Toronto. The housing challenges facing our City are continuing and have been ongoing for some time. Limited periodic updates on this review of the Vacant Home Tax proposal do not effectively move this proposal forward and more decisive action is required including meaningful timelines and a more structured work plan.

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A full and thorough update to the Executive Committee would be beneficial at this stage in the City's review.

Staff recommended

Councillor Ana Bailão recommends that: 1. Executive Committee request the City Manager and the Chief Financial Officer and Treasurer to bring forward a report with the 2020 Budget on "EX 26.4, Implementing a Vacant Home Tax in Toronto" which was approved at Toronto City Council on July 4th, 2017. Such update to include, but not be limited to the following: a. specific information on the consultation process to date; b.

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the public policy benefits as assessed to date; c. the potential tax design features of a vacant home tax; d. and the assessment of the Vancouver Approach.

    On the record

    The item as the City filed it

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