Taxing overseas buyers of vacant homes in order to cool the city’s housing market has been on the agenda for some Seattle politicians since British Columbia took similar measures in Vancouver last year. The issue is a key part of the platform of mayoral finalist Cary Moon. But the City Attorney’s Office recently declared both proposals currently being considered illegal. Moreover, the King County tax assessor has stated that such taxes are unnecessary and could encourage anti-Asian sentiment since much of the foreign buying comes out of China. The program in Vancouver so far has achieved limited success.
Image Credit: Joe Mabel (CC by 3.0)
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