COLORADO: Vacancy tax gimmick won’t make housing ‘affordable.’
Leave it to government to try to improve quality of life by proposing a law that would actually degrade it. Democrats don’t have a monopoly on this sort of legislation, but their philosophy of scarcity, especially artificial scarcity, makes them especially susceptible to its charms.
Rep. Brianna Titone (D-Arvada) and Rep. Elizabeth Velasco (D-New Castle) are seeking to extract money from out-of-town property owners to subsidize “affordable” housing with House Bill 26-1036. The bill would allow municipalities to tax residential properties that they define as vacant, based on the number of days of physical occupancy by their owners. Short-term rentals would be excluded.
The bill would also allow local governments to band together to form special taxing districts for this purpose, even if they were in different counties, as long as they had shared or contiguous boundaries.
How awful is this bill? Let us count the ways.
First, it’s an assault on property rights. Yes, according to the US Census, a couple of Colorado counties – Summit and Eagle – have a substantial number of vacant dwellings. But this isn’t the Soviet Union during Dr. Zhivago. You can’t simply tell people that their houses are nice, but they could be used for so many more people.
I dunno about that because you can’t tell a Colorado Democrat anything.