A California state senator is proposing a tax on vacant commercial properties, saying empty buildings and storefronts reduce business vitality, lower tax revenue, and create public nuisances.
Democratic state Sen. Caroline Menjivar of San Fernando Valley authored Senate Bill 789, which will be heard by the Revenue and Taxation committee on April 23. The bill does not specify the amount of the tax.
Menjivar sees the measure as a way to spur economic activity.
“Vacant commercial property represents a missed opportunity for community enrichment,” Menjivar said, according to a legislative analysis of the bill. “Other times they contribute to the neighborhood’s blight and can be areas of nuisance and public safety concerns. These underutilized spaces hold potential as storefronts for local entrepreneurs, innovative workspaces for growing businesses, or mixed-use projects combining housing with commercial amenities.”…