Many California cities and counties are struggling to increase local housing supply, improve housing affordability, and address blight in their downtown and neighborhoods. As the State and local governments continue to look for ways to address these challenges, many jurisdictions are considering or have implemented a “vacant” or “vacancy” property tax (“VPT”) as a viable solution.
In this webinar, attendees will learn how a “VPT” can incentivize landowners to develop their vacant properties, sell or rent their unoccupied housing units, lease their unused commercial space, and potentially construct new housing for the market. The annual tax revenues can fund various related initiatives such as affordable housing development, housing assistance and services, code compliance, and illegal dumping remediation.
Attendees will discover how to successfully establish a VPT from feasibility analysis, community outreach, and ordinance development to the parcel tax election and subsequent implementation and annual administration.
Recent case studies will be examined including the City of Oakland’s Measure W VPT passed in 2018, Vancouver British Columbia’s Empty Home Tax, the City of Richmond’s potential VPT, and others.
Established in 1985, SCI Consulting Group, is a recognized public finance consulting firm with leading expertise in assisting California public agencies with local funding of public services and improvements. We also possess industry‐leading expertise with the important legal and procedural requirements for forming special financing districts and establishing other local funding mechanisms.
After the passage of California’s first vacant property tax – the City of Oakland’s Measure W Vacant Property Tax (November 2018), SCI was retained by the City to assist in the implementation and administration of the intensive parcel tax.
Jun 23, 2022 11:00 AM