Seattle mayor proposes vacancy tax.

#2
#2
What's the Somalian population like in Seattle?
A new trucking company or learing center could flourish there.
 
#4
#4
I think the government will be more than happy to control those buildings. You take over the buildings because they didn't pay their taxes now you control those buildings. It's a brilliant move for the Communist Seattle politicians. If we ever get a socialist type president, he is going to make every policy that Seattle New York and California creates and push it nationally. That is extremely scary
 
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#5
#5
generally agree with the sentiment here, but at least part of this is wrong:
"No-one willingly is losing money by leaving space vacant."
yes, yes they would. Atlanta has John Dewberry who does exactly this.

he will vacate properties to drive down adjacent property values so that he can buy them up. he will do this in desirable areas knowing that with inflation he will offset his losses...eventually. especially if he can turn it into another mega-deal. he has done several so far, and it worked ok, because much of the area then wasn't occupied. but as the urban environment has come back to life, he is still keeping the same strategy.

atlanta.urbanize.city

City files 'abandoned project' complaint against Dewberry's Midtown job

Controversial developer's retail and lobby redo at Campanile building stalled early last year on Peachtree Street
atlanta.urbanize.city atlanta.urbanize.city

if you have a bloomberg account there is an article on him behind a paywall.

not saying this is going on in Seattle, just that there are people willing to sit on empty properties and pay the taxes and eventual fees. not sure how you fix that type of particular issue, but a vacancy tax isn't it.
 
#6
#6
trout-vol said:
www.washingtonpolicy.org

Penalizing property owners for Seattle's poor financial decisions

Seattle's downtown is a ghost town of empty offices, with vacancies soaring to 35% in the core of the city. Incoming Mayor Katie Wilson, an avowed Democratic So
www.washingtonpolicy.org www.washingtonpolicy.org

Mayor proposes a vacancy on commercial property. How can a private entity last in these states?
Click to expand...
The city already cleaned itself out. They can’t rent those spaces for a reason. Doing business is too expensive to stay. So let’s tax the people who can’t rent spaces because of a problem the Democratic city has created by taxing too much. Perfect logic.
 
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