In the midst of the budget cuts and tax raises, one tax is quietly being decreased: the one that levies a 10% tax on owners of vacant property. In my opinion, it has actually been very effective in getting longtime slumlords to sell or fix vacant and dilapidated property. While it’s impossible to prove such causation, I think we’ve seen enough benefits to continue supporting the heightened rate, particularly when it’s bringing in millions of dollars to the coffers are a time when our city needs it most. So why are they looking to raise just about every tax conceivable, yet let slumlords off the hook?”
What do you guys think – is it a mistake to lower the tax on vacant property?