Hamilton approves vacant homes tax, Airbnb bylaw to protect city’s housing supply - Hamilton | Globalnews.ca

Vancouver introduced an empty homes tax in 2017, making it the first major city in Canada to implement such a measure, intended to crack down on foreign investment and property speculation. The city says the tax has cut down 25 per cent of vacant properties since its launch.Story continues below advertisement

Toronto and Ottawa introduced their own vacant home tax in 2022, while other jurisdictions like Mississauga, Ont., are considering implementing similar taxes.Councillors have formally approved a bylaw to regulate short-term rental properties, primarily Airbnbs. The regulations limit short-term rentals to a property owner’s principal residence with a business licence to guard against housing stock being converted to accommodation for tourists.An estimated 900 STR units are operating in Hamilton, with the highest concentration downtown, based on information gathered pre-

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