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Vancouver hiking empty homes tax to 5% of assessed value in 2023

BNN: 'Vancouver is raising the tax that prods owners of empty homes to rent their vacant properties in order to help ease the city's low vacancy rate. Councillors have unanimously backed a motion from Mayor Kennedy Stewart to hike the empty homes tax to five per cent of a property's assessed value, effective next year. In a social media message posted after the motion was approved late Wednesday, Stewart says boosting the tax from three per cent is a "big blow to housing speculators."'

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