Empty homes tax may be more effective than new builds at making housing more affordable

A remarkable number of apartments in big cities are used as investment properties or second homes, and sit mostly unoccupied. New numbers show the big difference a tax on these vacant units could make. When Vancouver passed a tax on homes that sit empty for more than six months out of the year–apartments that serve as pieds-à-terre or investments for the rich, for example–it made a difference: The city recently reported that the number of empty properties dropped 15% between 2017, when the law took effect, and 2018. More than half of those homes went back on the rental market, presumably to avoid the tax. The city also raised more than $38 million, most of which will go to affordable housing programs.Read Full Story

Empty homes tax may be more effective than new builds at making housing more affordable

Empty homes tax has the potential to generate income for local governments, reduce demand from foreign investors and increase housing affordability, a study suggests.

Wed 13 Feb 19 from Phys.org

An empty home tax could be more effective than building new homes, new study concludes

Who's against having an empty home tax?

Thu 14 Feb 19 from ZME Science

Taxing empty apartments could ease the housing crisis

A remarkable number of apartments in big cities are used as investment properties or second homes, and sit mostly unoccupied. New numbers show the big difference a tax on these vacant units ...

Tue 12 Feb 19 from Fastcompany Tech

  • Pages: 1

Bookmark

Bookmark and Share