San Diego City's consideration for a Vacancy Tax

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Submitted by flu on November 18, 2019 - 5:45pm

Lol.

It's similar to Vancouver's vacancy tax, meant to discourage investment, I think.

https://www.10news.com/news/making-it-in...

Submitted by spdrun on November 18, 2019 - 8:54pm.

No ... it's to discourage short-term investment (i.e. flipping). Long-term investors that want an income for life while providing a home for someone are fine. Hope it passes.

Submitted by flu on November 18, 2019 - 9:00pm.

The vacancy tax only applies if you don't rent out your place more than 1/2 of the year. But if you flip the property quickly, it's not even a full year. Plus there's exclusions for loss of time of use due to things like remodeling/construction/etc.

Submitted by spdrun on November 18, 2019 - 9:26pm.

It's a good first step ... rules have a way of tightening incrementally.

Submitted by flu on November 18, 2019 - 11:35pm.

Not really. It won't do didly.

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