Relates to maintaining a database of vacant residential housing units, imposing a real property tax on such vacant units, and funding affordable housing development

2025 Regular Session Introduced by Monique Chandler-Waterman and 1 co-sponsor

Establish a vacancy database, tax vacant properties, and devote the revenue to funding affordable housing development.

REFERRED TO HOUSING

Overview

A 1769 proposes three related housing policy goals: (1) create and maintain a database of vacant residential housing units, (2) impose a real property tax on vacant units, and (3) dedicate revenue to funding affordable housing development. The bill is currently referred to the Housing Committee.

Introduced: January 14, 2025

Status: Referenced to Housing (introduced and assigned to the committee)

Primary sponsor: Linda Rosenthal

Co-sponsor: Monique Chandler-Waterman

Related bill: A 4455 (prior-session)

Purpose and Intent

The bill aims to address housing vacancy and affordability challenges by:
- Improving transparency about vacant housing stock through a dedicated database.
- Discouraging unnecessary vacancies by imposing a tax on vacant residential units.
- Directing the resulting revenue to finance the development of affordable housing.

Key Provisions (as indicated by title)

Database of Vacant Units: Establish and maintain a system to identify and track vacant residential housing units within the state or given jurisdiction.

Real Property Tax on Vacant Units: Impose a tax on properties classified as vacant, with specifics about vacancy definitions, thresholds, and administration to be provided in the bill text.

Revenue Allocation for Affordable Housing: Use the tax revenue to fund affordable housing development, which may include new construction, preservation, subsidies, or related programs.

Administrative and Compliance Framework: Likely includes who administers the database, how vacancies are verified, penalties for noncompliance, and reporting requirements (details would appear in the enacted text).

Who Would Be Affected

Property Owners and Landlords: Potential tax liability on properties deemed vacant.

Local Governments/Assessing Departments: Administrative responsibilities for identifying vacancies and collecting the tax; management of the database.

Affordable Housing Sector: Access to newly dedicated funding for development and related programs.

Tenants and Residents: Potential impact through increased housing supply and broader affordability initiatives, depending on program implementation.

Procedural and Timeline Aspects

Currently at the committee stage (Housing) with introduction on January 14, 2025.

Typical next steps (not specified in the summary): committee hearings, potential amendments, full chamber consideration, and, if passed, transmittal to the other house, potential conference committee, and final enactment or veto by the executive.

Additional Context

The bill’s other related measure (A 4455) from a prior session suggests ongoing legislative interest in vacancy-related housing policy and funding mechanisms for affordable housing.

Note: Specific definitions (what counts as vacant, tax rates, exemptions, how revenue is allocated), enforcement provisions, and fiscal impact would be detailed in the full bill text.

Bill