Mark Savel exceeded my expectations of what I thought any realtor could or would do! For anybody buying condos in downtown Toronto, I recommend him. I will recommend him to friends and family, and if I ever buy another condo in downtown Toronto, I will try to hire him if he’s available. I will also hire him to sell my old condo, and I assume he’d be great for buying other types of housing and for outside the downtown core too.
Mark started helping me look in February 2026 and the final offer was made in May 2026. I was an atypical client with zero-time pressure on when to purchase, and with unusual priorities, e.g. very tight restrictions on locations, aiming for a building with low environmental impact, and broad aesthetic constrains. Mark learned my preferences, and very patiently showed me many units and asked many detailed questions on my behalf when I expressed interest. He advised on buildings to be avoided because of high maintenance fees, poor developer reputation for construction, and very poorly managed buildings. During site visits, he pointed out potential problems including potential structural and leak issues, poor space layout, and noise issues from the neighbourhood; and provided advice on the benefits of the unit and potential improvements that could be made to the unit. He demonstrated great knowledge of condos, condo management and condo equipment, and was always willing to try to ask the property manager when I had a detailed question he did not know the answer to. There were multiple weeks where I was surprised that he did not push me to make an offer; and indeed, recommended against some units. I slowly came to the realization that his priority is actually as he states – for his client to buy a home they will be happy with; not quick turnover of sales to make more money. I did not expect any realtor to do this.
For the unit I ended up purchasing, I left the negotiations to Mark to get me the best deal. His recommendation for my particular scenario was to make an offer I silently thought would be insulting low. It ended with a price far lower than I expected based on the comparators.
We’ve dealt with a lot of real estate agents over the years, and Mark Savel is truly leagues above the rest. He provided expert insight, extensive marketing, and was always available whenever we needed him. Mark worked tirelessly and diligently to get our property sold, and we would recommend him without any reservation. Many thanks Mark!
From the moment my wife and I met Mark, we immediately felt a warm and positive connection that continued throughout our entire experience. Mark took the time to understand our needs, preferences, and priorities. He was always available to arrange viewings around our schedules and consistently offered honest, professional advice about each property, its condition, and the surrounding area. We especially appreciated that he shared his expertise without ever pressuring or influencing our decisions. Mark was professional, knowledgeable, patient, and genuinely supportive throughout the entire process. We couldn’t have asked for a better realtor and would highly recommend him!
Living in Toronto and entering the real estate market is scary to say the least! Housing is expensive and buying a home requires experience and honest insight.
Having someone like Mark on your side does make a huge difference. He WILL notice what others don’t. He WILL do whatever he can to get you what you want for the most fair price possible. He operates with integeity, as a business professional and as a human being. Because of the effort he put into the purchase of our home we were able to buy and renovate our house into our home and we love it.
So, thank you Mark, for making our dream a reality.
5 star service from Mark the Shark! 3rd time working with Mark now and every experience has been spectacular. From start to finish, communication has been seamless with outstanding work ethic. Highly recommend! Fantastic podcasts with Joey as well with a wealth of knowledge navigating the market in every season . Keep up the great work gentlemen!
I’ve worked with Mark and Joey for almost 10 years now and recommend them to everyone. Mark helped me find my first condo back in 2016, and as a first time home buyer gave me invaluable advice. I most recently worked with Joey who helped me find my new space and rent out my original condo. These guys are absolute pros, and made every step as seamless and stress free as possible. They live and breathe the industry and Toronto as a whole. Just check out the podcast if you have doubts!
Mark and team were outstanding in helping us with the sale of our home and second property overall with Mark & team. While this sale had it’s challenges Mark always maintained a positive, professional attitude and always wanted what was best for us and our property.
I had the pleasure of working with Mark on what can be described as a unique and challenging real estate transaction that spanned nine months. As a fellow realtor, I was impressed by his professionalism, transparency, and dedication throughout the process. He was always responsive, answering every question I had, no matter how often I called. And at one point, I was calling weekly for updates! He answered every phone call, provided clear answers, and kept everything upfront and transparent.
Working with him felt like a true collaboration with no egos, no pressure, just a shared goal of overcoming challenges together. Mark’s professionalism and reliability stands out in an industry where those qualities are rare. Everything he promised, he delivered. Trust is earned, and after this experience, I can confidently say I trust Mark. What truly sets Mark apart is his integrity and willingness to go above and beyond. Even though the purchaser wasn’t his client, he went the extra mile by professionally cleaning the unit and addressing minor issues not required by our “Agreement of Purchase and Sale”. This wasn’t something he was obligated to do, but he went out of his way purely out of kindness.
These thoughtful actions made a huge difference, especially for myself and my client, who’s a first-time homebuyer. If you’re considering Mark as your realtor, don’t hesitate. He’s exceptional, and I couldn’t have asked for a better partner in this transaction. Highly recommend!
As a fellow Realtor, I had the pleasure of working with Mark Savel on a recent transaction, and I couldn’t be more impressed! He consistently demonstrated the highest level of professionalism, always putting his clients’ best interests at the forefront. His prompt responses and attention to detail made the process seamless for everyone involved. It was clear that he truly cares about his clients, representing them with respect and integrity every step of the way. He was also just such a joy – always friendly and cooperative! I look forward to working with him again in the future and highly recommend him to anyone seeking a dedicated and trustworthy realtor!
Hey there, Toronto property owner! If you’re scratching your head about the Vacant Home Tax (VHT), you’re not alone. As someone who’s spent countless hours researching and writing about Toronto’s Real Estate scene, I’m here to break down everything you need to know about this hot topic in our city’s housing policy.
What’s New with the Vacant Home Tax in 2025?
Let me start with some fresh updates that might affect your wallet: Toronto has increased the VHT rate to 3% of your property’s Current Value Assessment for 2024. That’s right – if you’ve got a $1 million property sitting empty, we’re talking about a $30,000 tax bill. Yikes!
But don’t panic just yet. I’ll walk you through everything you need to know to either comply with or legitimately avoid this tax.
Key Program Changes for 2024-2025
The City of Toronto has just rolled out some major updates to the VHT program. Here’s what’s changing:
Extended Declaration Period: You now have from November 1, 2024, to April 30, 2025, to submit your declaration
Increased Tax Rate: The rate has jumped from 1% to 3% of your property’s Current Value Assessment
New User-Friendly Portal: Launching November 1, 2024, making declarations easier than ever
Multilingual Support: A dedicated Customer Care Centre through 311 offering support in 180 languages
Email Confirmations: You’ll receive confirmation of your declaration via email (if provided)
Looking for a Luxury House to Rent in Toronto?
What Counts as “Vacant”?
A property is considered vacant if it was unoccupied for more than six months during the previous year and it was NOT your principal resident. Now heres where it gets confusing, so to keep it simple, heres 2 considerations to ask yourself:
Is the property considered your principal residence for at least 6 months
If it’s not – was it occupied or was it vacant during last calendar year for longer than 6 months?
If it is NOT your principal residence and HAS been vacant for 6 months or more THEN ITS CONSIDERED VACANT. Important to note, it doesn’t have to be a continuous 6 months either. It can be spread across the year – important for those with short term rentals.
If it IS your principal residence, and as long as a property remains your principal residence, you can declare the occupancy status as occupied and the tax will not apply. This applies even if you leave for extended periods of time due to travel or work (e.g. snow birds). To claim this occupancy status, the property must be your principal residence for at least six months of the taxation year. Also, don’t try an be smart – You can only have one principal residence.
But don’t panic – there are several valid exemptions!
Legitimate Exemptions (Yes, They Exist!)
Here are some situations where you might be off the hook:
Medical Care: If you or your tenant is receiving long-term medical care and is out of the house for it.
Principal Residence: The property was your main home
Death of Owner: The property owner passed away during the year
Renovations: Major renovations with valid permits (but there are specific requirements)
Legal Issues: Court orders preventing occupancy
Transfer of Legal Ownership: Property was sold during the year
Provide any supporting documentation if claiming an exemption
Submit and keep your confirmation number Pro Tip: Keep your confirmation number! The city has made this easier by providing email confirmations or printed confirmations upon request.
What Happens If You Don’t Comply?
I hate to be the bearer of bad news, but the consequences of non-compliance are steep:
Fines starting at $250
Potential tax rate of up to 3% of your property’s value
Risk of audit
Legal penalties for false declarations
Disputing a Vacant Home Tax Assessment
If you believe you’ve been incorrectly assessed, you have until December 2025 to submit a Notice of Complaint. Here’s what you need to do:
Gather your evidence
Submit your Notice of Complaint form
Provide supporting documentation
Wait for the review decision
Need Help? Where to Get More Information
Still have questions? Don’t worry, we’ve all been there. Here are your best resources:
This beefed-up VHT program is Toronto’s way of saying “let’s get serious about housing.” The goal? To nudge property owners toward renting or selling their vacant properties, ultimately feeding into the city’s affordable housing initiatives.
Remember, whether you’re a seasoned property owner or new to the game, staying on top of these requirements isn’t just good practice – it’s essential for avoiding costly penalties. Keep these dates in your calendar, and make sure you’re ready to declare when the time comes.
Want to stay ahead of the curve? Start gathering your documentation now and keep an eye out for that online portal launch in November. Your future self (and wallet) will thank you.
Frequently Asked Questions (FAQ)
General Questions
Q: Do I have to declare even if I live in my property?
A: Yes! All residential property owners in Toronto must declare annually, even if you live in the property as your principal residence.
Q: What is the tax rate for 2024?
A: The Vacant Home Tax rate has increased to 3% of your property’s Current Value Assessment (CVA), up from the previous 1%.
Q: How many properties in Toronto need to declare?
A: Approximately 820,000 properties within Toronto require an annual declaration of occupancy status.
Declaration Process
Q: When can I submit my declaration for 2024?
A: The declaration period opens November 1, 2024, and runs until April 30, 2025.
Q: What happens if I miss the declaration deadline?
A: While late declaration fees are currently waived, your property could be deemed vacant by default. It’s best to declare on time to avoid any complications.
Q: How do I get proof of my declaration?
A: You can:
Receive an email confirmation (if you provide your email address)
Print or save the confirmation page with your confirmation number
Request a printed confirmation by calling 311
Property Status Questions
Q: How long can my property be empty before it’s considered vacant? A: A property is considered vacant if it’s unoccupied for more than six months during the calendar year, unless it qualifies for an exemption.
Q: Does the six-month period need to be consecutive? A: No, the six months don’t need to be consecutive. The total time throughout the year is what counts.
Q: What if I’m traveling but this is my main home? A: If the property is your principal residence, it’s exempt from the Vacant Home Tax even if you’re away for extended periods.
Payment and Financial Questions
Q: When do I need to pay the Vacant Home Tax? A: For 2024, payments are due in three installments:
September 15, 2025
October 15, 2025
November 17, 2025
Q: How much revenue does the tax generate?
A: The program generated $56.5 million in 2022 and $50.6 million in 2023. With the new 3% rate, the city expects approximately $105 million annually.
Exemptions and Special Cases
Q: Will the city check my utility usage to verify occupancy?
A: While utility data may be used in audits, it’s not the primary verification method since approximately 45% of residential properties don’t have individual meters.
Q: What if I’m renovating my property?
A: Properties under renovation with proper permits may qualify for an exemption. Be sure to maintain all documentation related to your permits and renovation work.
Support and Help
Q: How can I get help with my declaration?
A: You have several options:
Call 311 to reach the dedicated Customer Care Centre (support available in 180 languages)
Visit Tax and Utility counters at Toronto City Hall or civic centres
Use the online portal at toronto.ca/VacantHomeTax
Q: What if I disagree with my tax assessment? A: You can submit a Notice of Complaint until December 2025 for the 2024 tax year. Be sure to gather all supporting documentation before submitting your complaint.
Program Impact
Q: What happens to the money collected from this tax?
A: Revenue supports various housing initiatives including:
The HousingTO Plan
Toronto Community Housing Corporation improvements
The Multi-Unit Residential Acquisition (MURA) program
Other affordable housing initiatives
Important Disclaimer
⚠️ Please Note: While we strive to keep this guide up-to-date, tax regulations and programs can change. This article is for informational purposes only and should not be considered legal or financial advice. The information provided is based on the City of Toronto’s Vacant Home Tax Program as of November 2024.
For the most current and authoritative information about the Vacant Home Tax Program, including:
