Letter: People selling glass houses shouldn't throw stones
Submitted by paula on Sat, 08/03/2024 - 7:02pm
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This week, nine community advocates and I were named in a frivolous lawsuit, the vacancy tax opposition’s latest attempt to use their deep pockets and outside money to sap resources and intimidate local supporters on behalf of special interest groups.
The opposition, funded by California’s real estate lobbying group, is afraid that November’s election won’t turn out in their favor. Sharon Kerrigan, VP of the Realtors Association, recently went on record at a public meeting to say that, “governing shouldn’t happen at the ballot box.” Now they are apparently trying the courts.
The opposition has funded a factory of false claims, and now their temper tantrum of a lawsuit disputes the clear meaning of phrasing in the ballot argument. But over and over, they are the ones resorting to misinformation because the facts support the vacancy tax, now designated Measure N. So let’s be abundantly clear:
MEASURE N IS SELF-FUNDING & SELF-SUSTAINING
Per independent analysis, Measure N pays for itself and is estimated to bring in $20 million in annual revenue, with admin costs of only 1.6-3%. That means, after accounting for costs of administration, there is still an estimated $19.4 million each year for housing, roads and transit. Startup costs are estimated to be less than 0.3% of the City budget and can be paid back with just two weeks of vacancy tax revenue. The opposition’s outrageous claims that costs would be higher are made up out of thin air and are not based in fact.
PROCEEDS CAN ONLY BE SPENT ON HOUSING, ROADS, AND TRANSIT
Measure N is a special tax with an oversight committee, and legally, all $19.4 million of its estimated proceeds after expenses can only be spent on housing, roads, and transit. Good legislation accounts for its own administration costs, and Measure N does just that - generating over 30x more than it costs, with all proceeds dedicated to the community’s most pressing needs.
MEASURE N IS A KEY SOLUTION FOR THE HOUSING CRISIS
Independent analysis estimated Measure N will restore 1,500 homes to full-time occupancy – and fewer vacant homes mean fewer vacant jobs. More than 7,000 homes in South Lake Tahoe now sit empty most of the year, and Measure N shifts the incentives to use more of the housing we already have, even before a dollar is spent. Additionally, dedicated local funds can be used for housing programs like bringing back a first-time homebuyer’s program, expanding Lease to Locals, and incentivizing public-private partnerships to build housing for local workers like teachers, nurses, and firefighters - the “missing middle” who earn too much for grant-funded low-income housing like Sugar Pines, but still cannot afford to raise their families here.
NOW IS THE TIME
The opposition says they’ve already done enough and “now is not the time” to solve the housing crisis or fix the roads. But the City’s planned housing projects still leave us short roughly 3,000 housing units for our workforce, and it will take more than 100 years to fix the roads with current funding.
After speaking with thousands of community members in front of grocery stores this year, we know that our community cares deeply about the costs of housing, and is concerned about the increase of vacant second homes taking over neighborhoods. We know that our community is tired of politicians dragging their feet on solutions, and they’re tired of increasing taxes on local residents and businesses to make up the funding gaps.
No businesses or locals living in their homes will be taxed by Measure N. Measure N introduces a tax ONLY on unoccupied homes sitting vacant for more than half the year, to incentivize use of existing housing, while generating tens of millions of dollars each year for housing, roads, and transit.
We will not be intimidated by scare tactics leveraged by monied special interest groups who just want to sell more second homes and think we have already done enough to fix the roads. The community is ready for serious solutions, and that's why Measure N qualified for the ballot with over double the 1,159 signatures required.
Unlike the Realtor’s Association, we believe that good policy IS decided at the ballot box. So to the opposition, we say - stop wasting valuable time and money with scare tactics and frivolous lawsuits. Let the people vote.
Vote YES ON N for a future that’s vibrant, not vacant.
Get Involved at www.TahoeVacancyTax.com
- Nick Speal, Locals for Affordable Housing
Nick Speal is a founding member of Locals for Affordable Housing and one of the authors of the argument in favor of Measure N.
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