New Laws Affecting Property Owners in Oakland,CA
VACANT PROPERTY TAX
There are a number of new laws effecting our local housing market which were promoted and passed on November 6, 2018 ballot. These laws will affect homeowners, investors who are buying and selling homes across the East Bay. Each day for the next nine days, I will post information about one of the local measure that was passed and reference the city it refers to as well as when it will go into effect. Some new laws being as early as January 1, 2019.
OAKLAND VACANT PROPERTY TAX – Will take effect some time after 2020
- Imposes a parcel tax for properties in use less than 50 days during a calendar year
- Residential homes: $6,000 per parcel
- Non-residential & Undeveloped: $6,000 per parcel
- Condominium or duplex: $3,000 per vacant unit
- Parcel with ground floor commercial: $3,000 per parcel
If you own property and want to sell it, or are interested in purchasing Real Estate in the Bay Area, please reach out so we can find out how we can best help you achieve your goals for 2019.
The bay area continues to be a popular place to call home.