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City of Sault Ste. Marie Says Vacant Home Tax Already Helping Push Properties Back Onto Market
As housing affordability and housing supply continue to dominate conversations across Northern Ontario, the City of Sault Ste. Marie says it is taking a more aggressive approach to dealing with vacant and deteriorating residential properties.
During a recent Chamber of Commerce discussion, Mayor Matthew Shoemaker defended the city’s vacant home tax policy, which was implemented immediately and at the highest rate currently allowed under Ontario legislation. The program targets residential properties left unoccupied for more than 183 days per year, with officials hoping the measure will encourage owners to redevelop, sell, or return unused homes to the market.
Under the city’s bylaw, the vacant home tax rate is set at four percent of a property’s current assessed value. Revenue collected through the program is being directed toward housing-related initiatives aimed at restoring severely damaged or unlivable homes.
City officials say boarded-up and neglected homes can impact neighbourhood appearance, nearby property values, and long-term community investment. The city also argues renovation costs and aging infrastructure can make redevelopment financially difficult without some level of support or incentive.
