What You Need to Know: Understanding the Property Tax Implications of Building an Additional Residen

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To address the shortage of rental properties and the housing affordability challenges in areas like Brampton and Toronto, local governments have taken action. One significant effort involves encouraging the construction of Additional Residential Units (ARUs), often referred to as supplementary suites or basement apartments. Building an Additional Residential Unit can provide property owners with increased rental income and contribute to alleviating the housing shortage. However, it is essential for property owners to understand the property tax consequences associated with this project.