Locals For Affordable Housing, a South Lake Tahoe organization, is making a push to lock in 1,500 signatures by April 10. If they meet their quota of signatures, we will see the initiative on the ballot in November.
The bill would put in place a vacancy tax on homes that are unoccupied for half of the year or more. Owners would pay a $3,000 fine for the first year, and then it would increase to $6,000 over the next year if the house remains unoccupied.
Affordable housing for locals and service workers is a hot topic around the entire Tahoe Basin. With an influx of rental properties, vacation homes, and Airbnb’s, it’s becoming nearly impossible to find housing on a middle class wage.
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Some people think that the wealthy homeowners will simply just eat the fine, and other part-time residents who contribute to the economy will feel the full force of the burden. Not every vacation home is owned by billionaires who are there one week out of the year.
It’s common for retirees who have worked their whole life for their well needed retirement to own simple cabins that are occupied for four to five months out of the year during the summer and mild months, and a $3,000 fine could easily drive them out.
There’s concern that this bill could further alienate the two sides and drive out semi-permanent, economy supporting families and people who call Tahoe home for part of the year.
A few people also pointed out the intricacies of proving who is actually present in their home and for how long. It could use up precious resources and funding to just determine the length of time spent at these homes.
Others think that the money and resources could be used in a better way to actually create more housing and support for full-time residents.
Another Reddit user pointed out that the intended consequences for these part-time homeowners could create different consequences that could be worse.
For example, if there’s a plethora of part-time residents who sell their vacation home because of the tax, it could quite possibly create a market for more ultra-rich or corporate real estate companies to eat up many properties to create more short-term rentals.
Because really, who’s going to buy a 20 million dollar plus mansion in South Lake Tahoe and move in full-time during the current economic struggles in the area? I’d guess not many.
