50% vacancy tax. Any property that is vacant for more than 50% of the year would require the owner to pay 50% of the assessed value, unless they can prove there is zero demand for the property at any price.
Would solve the problem very quickly. It’s a fair, equitable, market driven solution to the problem of real estate vacancies. But governments are much more concerned with maintaining the illusion of value, than effective land use.
50% vacancy tax. Any property that is vacant for more than 50% of the year would require the owner to pay 50% of the assessed value, unless they can prove there is zero demand for the property at any price.
Would solve the problem very quickly. It’s a fair, equitable, market driven solution to the problem of real estate vacancies. But governments are much more concerned with maintaining the illusion of value, than effective land use.