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Vacant Unit Tax in Hamilton and the Impacts, Real Estate Sales and Strategy
Manage episode 425597444 series 2825660
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Welcome to the Golfi Real Estate Show!
Join us for the latest in real estate insights and news. In this episode Phil Golfi discussed:
- Hamilton is implementing a vacant unit tax bylaw in 2025, which will charge non-exempt vacant residential properties 1% of the assessed value.
- Concerns are discussed regarding the potential impacts of the vacant unit tax on long-term property holdings and development projects.
- The discussion highlights frequent transactions involving vacant properties, noting that many are sold due to circumstances like death or marital separations, rather than long-term vacancy.
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