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Agreed, we need to solve the issue of houses sitting empty due to money laundering and foreign investment. Why try to encourage people to convert their garages when they are hundreds of thousands of living units sitting completely empty for people's portfolios?

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10% "vacancy" tax / year can solve this problem and drive property speculations out of the housing market.

1978 California Proposition 13: Section 1. (a) The maximum amount of any ad valorem tax (a tax whose amount is based on the value of a property) on real property shall not exceed one percent (1%) of the full cash value of such property.

Then there is the law to change. Simple.

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