Vacancy Tax

A commercial Vacancy Tax incentivizes commercial landlords to fill vacancies, or pay the City for keeping properties empty. If landlords lower the rent to avoid the tax and bring in new business, it also  opens room for existing businesses to negotiate more affordable leases in the future. In the long run, a vacancy tax can lower operating expenses for small businesses and reduce blight. The tax can also be tiered by square-footage so that large commercial spaces, like the empty K-Mart in District 2, don't stay empty for another 6 years. While the Council itself does not have the power to pass this policy on its own, it can host information sessions and encourage voters to put a Vacancy Tax on the ballot.