"The number of “under-occupied” homes in Vancouver has almost doubled in the past 15 years, from 12,885 to 25,495 dwellings, according to census data.
So although some of those homes will be exempt from the tax, and even if some cheaters skirt the rules, it’s hard to imagine the city not raising enough money to cover the cost of the tax, said Tom Davidoff, a housing economist from UBC’s Sauder School of Business, adding: “I would be very unpleasantly surprised to see the city actually lose money on this deal.”
... This week, Davidoff was far more bullish, saying: “I don’t think $100 million (in first-year revenue) is out of the question...
But even as cost estimates rise, one of the only ways the city could actually lose money, Davidoff noted, would be if a huge number of people decided to rent out their empty homes to avoid the tax.
And if that did happen — in a city where the rental market has become painfully tight — it might be money well spent."
Thumbs Up. Keeps our taxes lower.