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The most Californian thing you'll hear all day: tax empty store fronts
Posted on 11/21/19 at 4:22 pm
Posted on 11/21/19 at 4:22 pm
SF Chronicle
quote:
Vacant storefronts mar nearly every shopping district in San Francisco — from North Beach to Union Street. More than just eyesores in the city’s beloved shopping districts, empty retail spaces are lost opportunities for tax revenue, jobs and foot traffic that help support neighboring businesses.
Now the Board of Supervisors has a plan to help: a tax on landlords who leave their storefronts empty for more than six months. The point? Encourage building owners to quickly rent out spaces, by either settling for a lower rent or finding a pop-up or short-term tenant.
quote:
“This is a long overdue common-sense policy that is not about raising any funds,” said Supervisor Aaron Peskin, author of the measure. “It’s about changing certain bad actor landlords’ behavior, and creating a disincentive for long-term vacancies.”
22
Posted on 11/21/19 at 4:23 pm to SlowFlowPro
Do they get a pooper scooper deduction?
Posted on 11/21/19 at 4:23 pm to SlowFlowPro
quote:
Now the Board of Supervisors has a plan to help: a tax on landlords who leave their storefronts empty for more than six months. The point? Encourage building owners to quickly rent out spaces, by either settling for a lower rent or finding a pop-up or short-term tenant.
This is going to work extremely well
quote:
a city permitting process that can take up to a year and a half.
ETA I wonder if this could be a problem?
This post was edited on 11/21/19 at 4:27 pm
Posted on 11/21/19 at 4:23 pm to SlowFlowPro
quote:
Encourage building owners to quickly rent out spaces, by either settling for a lower rent
This country is fricked. And the California government is retarded.
Strong arming landlords into losing money? Let's do it.
Clean up the river of fecal matter in the street? Ehhhh. No.
Posted on 11/21/19 at 4:24 pm to SlowFlowPro
Taxing of income is evil.
Taxing of lack of income is insane.
Taxing of lack of income is insane.
Posted on 11/21/19 at 4:25 pm to SlowFlowPro
quote:
“It’s about changing certain bad actor landlords’ behavior, and creating a disincentive for long-term vacancies.”
This is a noble and worthy cause.
I don't think this particular solution is the way to go about dealing with it.
Posted on 11/21/19 at 4:26 pm to timdonaghyswhistle
quote:
Taxing of income is evil.
Taxing of lack of income is insane.
Up next: California government to sieze all empty lots and buildings and redistribute them as they see fit.
Posted on 11/21/19 at 4:27 pm to nugget
I was speaking with a friend in SF last week.
He expanded his business to a new location, the paperwork took a year to process and complete.
He had to pay rent on an empty building for that whole period.
He expanded his business to a new location, the paperwork took a year to process and complete.
He had to pay rent on an empty building for that whole period.
Posted on 11/21/19 at 4:27 pm to SlowFlowPro
quote:
Aaron Peskin
Who wants to bet he looks like Ciaramella
Posted on 11/21/19 at 4:27 pm to SlowFlowPro
I am pretty sure that the owners want tenants in there to cover the costs involved with the property already. Dem's have never done anything but spend others' money. 
Posted on 11/21/19 at 4:29 pm to Rooskie
I want to know what kind of idiot invest in real estate in California.
Posted on 11/21/19 at 4:29 pm to SlowFlowPro
The Democrat answer to everything - tax.
You absolutely, without a doubt, have to be mentally unstable to be a Democrat.
You absolutely, without a doubt, have to be mentally unstable to be a Democrat.
Posted on 11/21/19 at 4:33 pm to nugget
quote:The really rich idiots.
I want to know what kind of idiot invest in real estate in California
Posted on 11/21/19 at 4:34 pm to SlowFlowPro
quote:
This is a long overdue common-sense policy
LMAO
Posted on 11/21/19 at 4:34 pm to SlowFlowPro
quote:Scariest thing any government can say.
common-sense policy
Posted on 11/21/19 at 4:36 pm to SlowFlowPro
quote:
“It’s about changing certain bad actor landlords’ behavior,
AKA: control.
Posted on 11/21/19 at 4:41 pm to Lima Whiskey
quote:Well, truthfully, you have to contract out an architect, who will run his plans/ideas by several contractors for structural, plumbing, mechanical, electrical, etc.., and make sure he's falling within budgets, get with a space planner, ergonomics designer, interior decorator, etc.., then everything has to go into a computer, design to code, submit to owner for approval, release to bid, pour through the bids, then assign and negotiate final contracts, then the GC has to get contracts out to subs, and the permiots approved.
the paperwork took a year to process and complete.
Stand in line and wait for time in front of the engineers who pour over the plans to insure it's to code before releasing permits, then after permitting moves forward, THEN and only then can work start. This is not unusual.
Posted on 11/21/19 at 4:42 pm to mmcgrath
quote:
The really rich idiots.
It’s literally impossible to achieve positive cash flow there. You’ll get much more wealthy investing almost literally anywhere else. But, let’s let you show your ignorance in real estate.
Posted on 11/21/19 at 4:48 pm to SlowFlowPro
quote:There's already plenty of disincentive. Expenses like maintenance costs, property taxes, insurance, and mortgage payments don't stop when there's no tenant.
creating a disincentive for long-term vacancies
Posted on 11/21/19 at 4:49 pm to nugget
quote:
It’s literally impossible to achieve positive cash flow there. You’ll get much more wealthy investing almost literally anywhere else. But, let’s let you show your ignorance in real estate.
I'll just leave this here. Maybe you can show us your expertise and explain how horrible investing in California is.
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