Vacant Unit Tax in Hamilton and the Impacts, Real Estate Sales and Strategy

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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