A recent discovery has shed light on a major oversight by City of Toronto staff regarding the implementation of the vacant home tax. According to emails obtained by CTV News, it appears that staff were aware of the potential for the tax to backfire, but proceeded with it anyway.
The vacant home tax, which was introduced in 2017, was intended to encourage homeowners to either occupy or rent out their properties in order to increase the city’s housing supply. However, it seems that the implementation of the tax was not as well thought out as initially believed.
In the emails, staff expressed concerns about the potential for the tax to actually decrease the number of available rental units, as landlords may choose to sell their properties rather than pay the tax. This could ultimately lead to a decrease in the city’s housing supply, rather than the intended increase.
Furthermore, it was revealed that staff were aware of the potential for the tax to disproportionately affect low-income and marginalized communities. This is due to the fact that these communities often have a higher number of vacant homes, which could result in them being unfairly burdened with the tax.
The emails also showed that staff were aware of the potential for legal challenges to be brought against the tax, as it may be seen as discriminatory or unconstitutional.
This new information has raised questions about the effectiveness and fairness of the vacant home tax. It also calls into question the decision-making process of City of Toronto staff and their failure to address these concerns before implementing the tax.
In response to these revelations, Mayor John Tory has stated that he was not aware of the concerns raised in the emails and that he will be looking into the matter further. He also emphasized the need for the city to address the issue of vacant homes in a fair and effective manner.
The City of Toronto has yet to comment on the emails, but it is clear that this is a mistake that cannot be ignored. It is imperative that the city takes immediate action to rectify the situation and ensure that the vacant home tax is not causing more harm than good.
This discovery serves as a reminder that thorough research and consideration must be given to any new policies or taxes before they are implemented. The well-being of the city and its residents must always be the top priority.
