That with respect to Revised Notice of Motion EC2025-0117, the following be adopted: NOW THEREFORE BE IT RESOLVED that Council direct Administration to return to Executive Committee by Q2 2026 with a scoping report, workplan, and supporting budget request for consideration in the 2027-2030 Service Plans and Budgets for a: Vacant Property Tax Program, which includes but is not limited to: A program for vacant land targeted toward incentivizing development through variable tax rates; A program for derelict properties targeted toward incentivizing development through variable tax rates; Eligibility criteria to identify and assess vacant or derelict residential properties, including parcels with and without any improvements and a communications strategy and methods by which property owners would be notified of the program; Recommendations for whether additional residential sub-class(es) and necessary bylaw(s) for their creation are needed; Recommendations for directing any ta
Council asked City staff to study and design tax incentives for multi-unit housing and a potential property-tax exemption for new purpose-built rental near transit, and to return by Q2 2026 with scoping reports, workplans and budget requests.
The studies could lead to new residential tax sub-classes and updated assessment/tax models that reflect how density affects per-capita service costs and productivity, potentially changing tax levels and influencing where and what types of multi-unit housing are built. A tax-exemption for purpose-built rental in Transit Oriented Development (TOD) locations is intended to encourage rental housing near transit but could reduce property tax revenue and require funding decisions in the 2027–2030 budget process.