Vancouver’s empty homes tax will collect an estimated $30 million in its inaugural year.
Mayor Gregor Robertson shared preliminary results for the city’s empty homes tax on Monday morning in a news briefing outside Vancouver City Hall.
The revenue collected this year will cover the implementation of the new tax, with net proceeds reinvested into affordable housing, the mayor said.
The median amount of tax paid was $9,900, though taxed amounts varied from $1,500 up to more than $250,000.
Of the $30 million taxed, about $17 million has already been collected.
The city had previously extended...