Regulatory Solution for the Housing Crisis: Vacancy Fines

The legislation: SB 1079 (2020 | CA)

What would SB 1079 do?

• Allow cities to impose vacancy taxes on housing that is vacant for more than 90 days
• Allow the cities to use eminent domain to use the property for affordable housing

Has this been tried another cities? Yes,

• vacancies dropped 22% in Vancouver
• Vancouver also provides the following 3 types of property owners varying exemptions from the tax:
  • Individuals
    Land under development
    Corporations, trustees and business partners

Cal Matters | Could vacancy fines ease California’s housing crisis? Vancouver tries it, with mixed results