The town is the latest across the United States with a growing debate about the impact of vacation properties.
CA voters consider vacation homes tax in iconic Lake Tahoe area SOUTH LAKE TAHOE , Calif. --
Kelly Bessem works at least 50 hours a week, supplementing her main job as a field scientist in hydrology with work as a snowboard instructor to make ends meet. She's currently sleeping in her car to buy a house in Markleeville, which is a 40-minute drive to South Lake Tahoe. The California Association of Realtors and the National Association of Realtors have contributed a combined $1 million to defeat the measure in a town with only 12,000 registered voters.
Perhaps the best known example is Vancouver, Canada, which in 2017 imposed a 1% tax on an empty home's assessed taxable value. The tax is now 3% and the city says it has generated $142 million for affordable housing projects.Vacancy taxes can work to a limited degree in larger cities, but an empty homes tax could make a huge difference in smaller towns like South Lake Tahoe, said Shane Phillips, who manages the Randall Lewis Housing Initiative at the University of California, Los Angeles.
The city has a median household income of $68,000, lower than the $95,000 median in California. The median sales price of a home was $750,000 in September - up from $427,000 five years ago, according to Redfin.
Vacancy Tax November Election Unoccupied Home South Lake Tahoe Tax Lake Tahoe Unoccupied Homes Lake Tahoe Elections Timely 15493104
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