The Storefront Vacancy Crisis (Part II of II): Vacancy Taxes Don’t Pay

Published On: February 1, 2020By Categories: Long Read

With so many “For Lease” signs these days, it can be sad to walk the streets of major cities.

What can be done? One idea that’s gaining traction among policymakers is a so-called vacancy tax, in which landlords would be assessed a fee on retail space that remains empty for a set period of time. The thinking is that this tax could motivate landlords to lease their storefronts more quickly.

Will this help to reverse the high vacancy? San Francisco voters will give their answer on March 3, when they weigh in on the proposed vacancy tax called Proposition D; Washington, D.C., and Oakland. Calif., have already said yes.

I, however, say no.

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