Interesting, this bill has elements I just mentioned the other day about taxation status of low cost housing developments.
The problem here again is that Quebec is simply giving municipalities the TOOLS but very few, if any, end up using them. And forget about the Plante administration even thinking about giving a tax break to the big, bad developers.
Another issue this causes is determining what is and is not an "underutilized" building. Who determines and monitors this? It sounds like another level of bureaucracy that would cause cities to hire on inspectors, administrators, etc. which would eventually negate any additional taxes they accumulate through fines.
A great example: I have several rental properties that are on AirBnB and Giggster. In total they're booked for on average 65% of the year. Is that underutilized? Is it properly utilized? Who determines this?
I'd think the tens of thousands I pay yearly in property taxes, small business taxes, payroll taxes, CITQ fees, etc. not to mention the sales taxes I generate would be much more beneficial to the government than the threat of a nebulous additional tax causing me to yank my listings altogether and sell my properties at the market rate, shelter the majority of capital gains tax and never think about red tape again. Which, by the way, wouldn't help the low cost housing pool one iota.