Sunday, April 01, 2018

De Blasio eyes vacancy tax for landlords seeking top-dollar

The New York Post reports:
Give that mom and pop a shop — or else!

As a growing number of vacant storefronts dot the city, Mayor Bill de Blasio on Friday said he wants to penalize landlords who leave the shopfronts sitting empty.

“I am very interested in fighting for a vacancy fee or a vacancy tax that would penalize landlords who leave their storefronts vacant for long periods of time in neighborhoods because they are looking for some top-dollar rent but they blight neighborhoods by doing it,” he said on WNYC. “That is something we could get done through Albany.”

A number of recent studies have found retail corridors in prosperous Manhattan neighborhoods are struggling with double-digit vacancy rates, from 27 percent on Amsterdam Avenue on the Upper West Side to 20 percent on a stretch of Broadway in Soho. Five percent or less is generally considered “healthy.”
Taxing inactivity.... kind of like the original ObamaCare mandate.