Full article by Alex Muegge available at Sacramento News & Review
Sacramento vacant property taxes might be on the horizon for city residents, according to District 4 City Councilmember Katie Valenzuela. She brought up the idea last August in council meetings on the Housing Element during the city’s 2035 General Plan process, a policy guide for Sacramento’s future.
The tax, she says, would aim to financially incentivize property managers to reduce rents to levels people can afford or generate income the city can use to assist people who have trouble accessing affordable housing. Valenzuela says she does not have a timeline on when this will be agendized, but it is something city planning staff has been looking into and plans to update her on this month.
“Rental prices are so out of pace with incomes, which is leading to vacant units,” Valenzuela wrote via email. “Part of [the city’s] analysis will include determining just how many vacant units exist today, so we can quantify impact [and] benefit from a measure like this. But in principle, with or without high numbers of vacant units, this makes sense. It’s a win-win from my perspective.”