Thousands of San Diego homes sit empty as rents soar. A tax could change that.
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San Diego is set to vote on a tax that would target vacant homes, aiming to raise up to $24 million and encourage owners to rent or sell their properties. The tax could help alleviate the city's housing shortage and affordability crisis, with thousands of homes sitting empty despite high demand.
San Diego has an estimated 5,000 empty homes, worsening the city's housing shortage. A new tax could change this. The tax, to be voted on in June, would apply to non-primary homes and raise up to $24 million. This revenue could fund affordable housing projects. The tax aims to discourage owners from keeping homes empty. Other California cities have implemented similar taxes. San Diego's move could serve as a test case. The tax has sparked debate, with some arguing it's unfair to tax property owners and others seeing it as a solution to the housing crisis.
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