Vacant Homes Are A Global Epidemic (And Paris Is Fighting It With A 60% Tax)

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Starting in 2015, Paris began taxing vacant homes the equivalent of 20% of the fair market value of rent. On January 30 this year, they tripled that amount to 60%. The idea isn’t to punish those fortunate enough to own a second (or twelfth) home. They’re trying to discourage speculation and promote a healthy rental market.

10 thoughts on “Vacant Homes Are A Global Epidemic (And Paris Is Fighting It With A 60% Tax)

  1. There is no dearth of vacant homes here either. We have plenty of vacant homes that are being left to rot and fall down while the homelessness epidemic spirals out of control and no one has a clue as to what to do about it. Meanwhile, those speculators swoop in and buy up properties for pennies on the dollar and then ‘lease or otherwise ‘rent-to-own’ them out to poor people who cannot make the repairs and then the house reverts back to those vultures, leaving the poor right back at square one. The system is designed to set people up for a fall and that is exactly what is occurring.

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  2. My “like” means only appreciation for reporting, not what is happening to a once great city. Or continent, or that matter.

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  3. Pingback: Vacant Homes Are A Global Epidemic (And Paris Is Fighting It With A 60% Tax) | necltr

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