Vancouver's empty homes tax will generate an estimated $30 million for affordable housing in its first year, Mayor Gregor Robertson announced Monday. The highest tax paid was $250,000 for one home, while the median amount of tax paid was $9,900, Robertson said at city hall. "For those who did not rent their property and chose to pay the empty homes tax, I just want to say thank you for contributing to Vancouver affordable housing funding," said the mayor. Of about 183,000 registered residential homes in the city, only 3,300 properties were subject to the tax. Of the homes declared vacant by their owners, 56 per cent were in downtown Vancouver or the West End.

Source: CBC News April 23, 2018 18:23 UTC