Ghost-Home Tax Fills Vancouver Coffers But Rentals Remain Scarce
- City expects to raise C$30 million in the levy’s first year
- Vacancy rate still below 1% despite hopes of boosting supply
Photographer: George Rose/Getty Images
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Vancouver Mayor Gregor Robertson declared the Canadian city’s new tax on empty homes a success this week, thanking the absentee owners of 8,500 properties for paying up.
He was less conclusive about whether the tax actually did what it set out to accomplish. “The ultimate goal here was to encourage people to rent their empty homes,” he said. “Hopefully that’s happening.”