Declare the Occupancy Status of Your Residential Property in Toronto
Attention, Members! Are you a property owner in Toronto?
As we approach the end of February, it’s time to ensure compliance with the annual declaration of occupancy status for residential properties. This declaration is a requirement mandated by the city, designed to maintain accurate records and ensure fair property taxation.
By law, all owners of properties classified within the residential property tax class in Toronto are obligated to declare the occupancy status of their properties each year. Whether your property is owner-occupied, rented out, vacant, or undergoing renovations, it is essential to provide this information to the city authorities.
The deadline for the declaration this year is February 29, 2024. Failure to declare or providing false information can result in penalties and fines. Therefore, it is imperative to act promptly and accurately to avoid any potential repercussions.
To make the declaration process as smooth as possible, the City of Toronto allows you to submit declarations of occupancy status through the online portal or by mail
Remember, accurate declaration of occupancy status is not only a legal obligation but also contributes to the fair assessment of property taxes and the efficient allocation of resources within the city. So, mark your calendars and ensure that you meet the February 29 deadline to declare the occupancy status of your residential property in Toronto. Let’s uphold our civic responsibilities and keep our city running smoothly.
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