Berkeley Measure M Vacancy Tax

A proposal for a 10-year "empty homes tax" will now fall in the laps of voters.

Measure M will tax owners of properties that are vacant for more than 182 days a year, whether consecutive or not. In the event that the owner owns more than one property in Berkeley, they are in store for a double-whammy. The punitive tax charges $3,000 per unit for the owner's first property and $6,000 per unit for any additional properties under ownership.

But it doesn't end there. If properties remain vacant after a year has passed, the taxes are doubled.

Needless to say, our community of landlords, property managers, real estate professionals, and other sober-minded people should vote NO.

With a burgeoning student population, the vacancy rate in Berkeley is relatively low and when factoring in exemptions, Berkeley officials estimate there are 1,100 rental units that would be covered. The measure is unnecessary and rather than focusing on the generation of tax revenue (estimated to be at $3.9 million and $5.9 million annually), policymakers should direct their energies into building new housing and assisting landlords who do not have the funds to make necessary repairs.

What do our friends at the Berkeley Property Association have to say? Read on in this KQED article →

Editorial from the Mercury News: Berkeley's vacancy tax is a solution in search of a problem →