In response to rising housing shortages, Canmore, Alberta introduces an empty home tax aimed at freeing up underused properties for local residents. The new policy, passed by the town council, will target property owners who leave homes unoccupied for most of the year.
The town hopes the measure will improve access to housing in a market dominated by vacation properties and part-time residences.
Why Is Canmore Taking This Step?
Housing in Short Supply for Locals
Canmore has seen a sharp rise in real estate prices, partly due to the high number of homes used as seasonal or secondary residences. Many properties remain empty for much of the year, limiting availability for full-time residents and workers.
Following Other Jurisdictions
The town is following the lead of cities like Vancouver and Toronto, which have already implemented similar empty home taxes. Canmore’s tax will apply to properties left vacant for six months or more in a calendar year.
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How the Tax Will Work
Property owners who leave homes empty will be charged an annual fee based on assessed property value. Exceptions may apply for renovations, medical leave, or certain types of temporary vacancies.
The funds collected from the tax will go toward affordable housing initiatives, helping to build or support more housing options for local workers and families.
What Comes Next?
Local officials say enforcement will begin in 2025, and outreach is already underway to inform homeowners. While some residents support the move, others worry it could deter investment or unfairly target part-time property owners.
Still, town leaders argue that the empty home tax is a necessary step in easing Canmore’s ongoing housing crisis.
