Vacant Homes Tax is a new annual tax introduced in 2023 that seeks to encourage the return of vacant properties into the housing market. Photograph: iStock
VHT applies to properties that can be lived in and have been stayed in for less than 30 days in the previous month, with the tax applying on November 1st each year. “It has refined the data to arrive at an initial data set of approximately 25,000 properties that may be in scope of the vacant homes tax. It has also analysed the local property tax returns for a number of years in respect of each property.”
“The Census data include 33,000 rental properties, about 17,500 that are classified for sale, about 23,000 vacant due to renovations and about 27,000 that are vacant as the former residents are deceased. They are embedded within the numbers declared vacant in the census.”
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: businessposthq - 🏆 8. / 71 Read more »