Owners keep thousands of San Diego homes vacant despite high rents. They could soon be taxed
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San Diego voters will decide on a vacant home tax in June, which could apply to around 5,000 properties and raise up to $24 million. The tax aims to address the city's housing shortage and affordability crisis by discouraging owners from keeping homes empty.
San Diego has a severe housing shortage, with over 5,000 homes sitting empty despite high rents. The proposed tax would charge owners $8,000 annually if their properties are vacant for more than 182 days. The tax could raise up to $24 million, which would be used to fund affordable housing projects. City officials believe this measure could help return empty homes to the market, alleviating the housing crisis. Similar taxes have been implemented in other California cities, with mostly positive results. The tax will be put to a vote in June, with proponents arguing it's a necessary step to address the city's affordability crisis.
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