More Cities Impose Vacancy Taxes
- Larry Sokoloff
- May 9, 2023
- 5 min read
Among the many concerns about California’s housing supply is that the state’s tax structure encourage property owners to keep land vacant or otherwise underutilized – especially if longtime property owners have low taxes because of Proposition 13. The structure is the basis of conspiracy theories about how developers of “luxury” buildings keep units vacant in order to create artificial scarcity.
