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June 26, 2020 Comments Off on Los Angeles Postpones ‘Vacancy Tax’ Measure Views: 1053 California News, Top California

Los Angeles Postpones ‘Vacancy Tax’ Measure

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The Los Angeles City Council this week decided unanimously to wait until at least 2022 to place a proposed vacancy tax on unoccupied multifamily units on the ballot. The tax would apply to owners of properties that sit unoccupied for a specified amount of time.

The council was expected to place the measure before voters this fall, but City Councilman Mike Bonin conceded that the city lacked enough time to accurately assess the scope of any problem with empty units or to predict the revenue a vacancy tax would generate.

That acknowledgment came after concerned housing providers sent 13,500 emails to the council. California Apartment Association (CAA) organized the letter-writing campaign.

“This rushed process has created little time for proper review, has many unanswered questions and does not attempt to answer reasons as to why a unit might be unoccupied,” CAA wrote. “Advancing this without basic discussion and consideration is wrong.”

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