Tax · Toronto and British Columbia
Vacant home tax.
What an empty home costs in Toronto and in BC’s speculation and vacancy tax areas, at the rates the governments publish.
Toronto charges 3% of the property’s current value assessment when a home is vacant six months or more in the tax year. BC charges 2% or 0.5% for 2025, 3% or 1% for 2026, and 4% or 1% from 2027, depending on who owns the home.
Use the assessed value on your notice, not the market price.
Inputs
Estimated tax
Fill the form and press Calculate.
The rates used
- Toronto Vacant Home Tax: 3% of the current value assessment since the 2024 tax year. A property is vacant if it was vacant six months or more in the year, and is deemed vacant if no declaration is made (toronto.ca).
- BC Speculation and Vacancy Tax: 2019 to 2025, 2% for foreign owners and untaxed worldwide earners and 0.5% for Canadian citizens and permanent residents. 2026: 3% and 1%. From 2027: 4% and 1%. With several owners the tax is divided by ownership share (gov.bc.ca).
Vancouver’s Empty Homes Tax is not included. The City of Vancouver site refused automated access when this tool was built, so its rate could not be verified, and showing an unconfirmed figure would be worse than showing none. BC’s tax is separate from Vancouver’s and from the federal Underused Housing Tax.
Worked example: a $1,000,000 home left empty
For a Toronto home with a current value assessment of $1,000,000 that is vacant for six months or more, the vacant home tax is 3% of that value: $30,000.00. In a British Columbia speculation and vacancy tax area, the same $1,000,000 assessment is taxed at a rate that depends on who owns it and the year:
| Where and who | Year | Rate | Tax |
|---|---|---|---|
| Toronto, vacant six months or more | 2026 | 3% | $30,000.00 |
| BC, Canadian citizen or permanent resident | 2025 | 0.5% | $5,000.00 |
| BC, Canadian citizen or permanent resident | 2026 | 1% | $10,000.00 |
| BC, foreign owner or untaxed worldwide earner | 2026 | 3% | $30,000.00 |
| BC, foreign owner or untaxed worldwide earner | 2027 or later | 4% | $40,000.00 |
- Ownership share divides the BC tax. With a 50% share of the same property the BC bill is $5,000.00, half of the $10,000.00 on the whole property.
- An occupied home pays nothing under the Toronto tax. Selecting “occupied or exempt” returns $0, but Toronto treats a home as vacant if no declaration is filed.
Next steps: see the regular annual bill with the municipal property tax estimator, price the purchase with the Ontario land transfer tax calculator, or the BC property transfer tax calculator.
How this is calculated
- Toronto: tax = 3% of the property’s current value assessment when it was vacant six months or more in the year.
- British Columbia: tax = rate × assessed value × your ownership share, where the rate depends on the tax year and on whether the owner is a Canadian citizen or permanent resident or a foreign owner or untaxed worldwide earner.
The City of Toronto says the Vacant Home Tax rate is 3% of the Current Value Assessment since the 2024 taxation year, and that if no declaration is received by the April 30 deadline the City assumes the property was vacant (City of Toronto, Vacant Home Tax). The BC speculation and vacancy tax rates are 0.5% (Canadian citizens and permanent residents) and 2% (foreign owners and untaxed worldwide earners) for 2019 to 2025, 1% and 3% for 2026, and 1% and 4% from 2027 (Province of British Columbia, tax rates). Both pages were checked 1 October 2026. Vancouver’s separate Empty Homes Tax is not included, and exemptions are not assessed.
An estimate, not a tax notice. Confirm exemptions and declarations with the City of Toronto or the Province of British Columbia.
Frequently asked questions
How much is Toronto’s Vacant Home Tax?
3% of the property’s current value assessment since the 2024 tax year, according to the City of Toronto. On a $1,000,000 assessment that is $30,000.00.
When is a Toronto home treated as vacant?
The calculator uses the rule that a home is vacant if it was vacant six months or more in the tax year, and the City assumes a property was vacant if no declaration is received by the April 30 deadline, so file the declaration even for an occupied home.
What are the BC speculation and vacancy tax rates?
For 2019 to 2025: 2% for foreign owners and untaxed worldwide earners and 0.5% for Canadian citizens and permanent residents. For 2026: 3% and 1%. From 2027: 4% and 1%, according to the Province of British Columbia.
How does shared ownership change the tax?
The calculator divides the BC tax by your ownership share. With a 50% share the example shows $5,000.00 instead of $10,000.00.
Does this include Vancouver’s Empty Homes Tax?
No. Vancouver’s separate Empty Homes Tax is not included, and this tool does not assess exemptions. Check each government’s page for the rules that apply to you.
Disclaimer
Assumes no exemption applies and that the property is in a BC taxable area. It does not model partial-year exemptions, tax credits or corporate owners (whose rate is the highest of any interest holder). This is an estimate only; the City of Toronto and the BC government notices govern.