President Reagan had a great saying about government, If it does not move, paint it. If you can get people in and out—tax it. Looks like the Progressives in San Fran are looking at taxing vacant apartments. With so many people fleeing the city, next to marijuana this could be the biggest tax revenue for the city. Of course at some point folks will abandon the property—which is the real goal of the tax.
“Sup. Dean Preston wants to tax vacant apartments.
The measure would levy a significant tax on units that landlords are holding off the market. Revenue from the measure would be dedicated to homelessness prevention strategies, such as rent subsidies, and to the acquisition of rental units for affordable housing.
Preston said he estimates the measure will make 5,000 homes available in the first two years.”
This is why San Fran is collapsing—it is run by economic illiterates and thieves.
Preston proposes a tax on vacant apartments
With 40,000 empty units in the city, taxing speculators and greedy landlords might bring 5,000 more homes onto the market—and pay for affordable housing.
By ANA LUCIA RALDA, 48 Hills, 2/8/22
A report published last week by theBoard of Supervisors Budget and Legislative Analyst showed that one of every ten residential units in San Francisco—more than 40,000 homes—is vacant. With more than 8,000 unhoused persons in the city, this means that there are more than four times more empty homes than homeless people in San Francisco.
This morning on the steps of San Francisco’s City Hall, District 5 Supervisor Dean Preston and community leaders announced they will seek to place an Empty Home Tax on the November ballot.
Sup. Dean Preston wants to tax vacant apartments.
The measure would levy a significant tax on units that landlords are holding off the market. Revenue from the measure would be dedicated to homelessness prevention strategies, such as rent subsidies, and to the acquisition of rental units for affordable housing.
Preston said he estimates the measure will make 5,000 homes available in the first two years.
“This time is not the time for half measures,” said Shanti Singh, leader of the San Francisco Chapter of the Democratic Socialists of America. “We are here to send the message that housing belongs to the people, not to proprietors.”
Since 2015, the number of empty homes in San Francisco has increased by 20 percent, and the city’s homeless population has grown about as much in that time.
