Assembly Member Alex Bores from the upper east side District 73 has introduced 3 bills that deserve the attention of housing advocates, YIMBYs, and Georgists.
These bills are:
1. https://nyassembly.gov/leg/?bn=A09673 – Directs the department of taxation and finance to establish a pilot program for implementation of local land value taxation based on classes of land; directs the department of taxation and finance to establish an application procedure for the pilot program. Inspired by Detroit mayor Mike Duggan’s LVT pilot program.
There are no co-sponsors. There is a Senate version too.
2. https://nyassembly.gov/leg/?bn=A09565 – Establishes a tax on certain vacant land in the city of New York; provides exemptions for certain vacant land; establishes a tax credit for certain renovations to certain rent-stabilized properties.
There are no co-sponsors and no Senate version.
3. https://nyassembly.gov/leg/?bn=A09545 – Establishes a tax on certain vacant residential properties in the city of New York; provides exemptions for certain vacant properties.
There are no co-sponsors and no Senate version.
Together, these bills will discourage land hoarding and speculation, and encourage development, by taxing vacant land until it’s either sold for development or developed by the current owner.
They deserve your support. Please visit your assembly member, gather support from advocates, and let’s pass these bills!