Empty Homes Tax At A Glance
- Empty homes must now be rented for a minimum of six (6), 30-day periods over the course of a year (but need not be consecutive).
- The new real estate tax is applicable for the period beginning January 1 to December 31, 2017. Taxes will be due in April 2018.
- Beginning February 2018, the new homeowner status declaration forms are due in order to avoid the EHT.
- 1% tax on the property’s assessed value for Empty Homes. Taxes are set to exceed missed rents, to give owners incentive to rent out their homes.
- Fines and penalties may be imposed if an owner:
- fails to declare the status of their property (Empty Homes Tax applied);
- makes a false declaration ($10,000 per day);
- fails to provide information or evidence;
- provides unsatisfactory evidence; or
- provides false information or evidence ($10,000 per day).
Asheya Accommodations makes it easy for you to beat the tax and make extra money. Join our Guaranteed Rental Income program and don’t pay the tax. Complete our Rent Value Assessment and download our Homeowner’s Guide for more information. Or call us to connect with a member of our team.