Hamilton politicians voted in favour of a pair of actions designed to protect the city’s housing supply.
On Wednesday, city councillors approved a new vacant homes tax to discourage speculators and hopefully open up empty units for rentals amid a housing crunch.
As per a 2022 staff report, the cost to launch the initiative will check in at around $2.6 million, including the bringing on of 16 full-time employees.
Annual costs to the program are expected to be offset by newly created revenues, according to the study.
Ward 3 Coun. Nrinder Nann, who previously suggested speculators were using the unoccupied dwellings to make profit, characterize the forthcoming levy as an “important tool.”