News for hackers. Stuff that matters.

A comment on S.F. landlords, property owners sue to block voter-approved vacancy tax. Parent comment

Re:S.F. landlords, property owners sue to block voter-approv... by codemac on Monday February 13, 2023 @07:32PM (#34783309)
... they already have those on housing. No one taxes you more or less because of how frequently you use your boat, or if you rent your boat to others, etc.
[ Parent | on HN ]
Re:S.F. landlords, property owners sue to block voter-approv... by orwin on Monday February 13, 2023 @08:18PM (#34783787)
They should just make a law to decrease taxes on primary house by 75%, on secondary houses by 50%, then augment the taxation by 400%.

I understand having a vacation/family home (not in crowded cities however), but having more than one and leaving it empty just to raise the price of similar unit feel really scammy to me.

[ Parent | on HN ]
Re:S.F. landlords, property owners sue to block voter-approv... by codemac on Wednesday February 15, 2023 @11:24AM (#34806025)
> but having more than one and leaving it empty just to raise the price of a similar unit

Is there a dearth of this happening? SF vacancy rates are roughly the same as they are across the country.

Also, from a balance sheet standpoint: if you raise the rent of a similar unit, then the rent lost on your empty unit goes up. You're actually losing more money (potential rent - rent received).

[ Parent | on HN ]