Washington, D.C. has an unusual solution to all those vacant properties- double their taxes! [Hat tip M!]
The D.C. Council voted Tuesday to double the tax rate on vacant properties and make permanent some of the tighter enforcement rules the D.C. Department of Consumer and Regulatory Affairs has been practicing since early last year.
Starting Oct. 1, the vacant property rate will be $10 per $100 of assessed value, up from $5, once approved by D.C. Mayor Adrian Fenty and Congress. The new rate is more than five times the $1.85 charged to the majority of commercial properties and the 85 cents charged for residential properties.
So what is this supposed to achieve, other than, of course, adding to the city coffers?
"This nuisance legislation does what has been needed for a very long time - it tightens up the laws to so that the scofflaws and those gaming the system and speculating on higher property values will no longer be able to continue letting their properties languish in disrepair." said Wells in a statement.
