San Francisco has introduced the Empty Homes Tax in response to rising residential vacancies, especially in areas with new developments. The goal is to encourage property owners to fill vacant units, increasing available housing and supporting affordable housing initiatives.
To see if this tax applies to you, take our quick quiz below.
Empty Homes Tax Quiz
Disclosure: This is not financial or tax advice. Please consult with your tax professional.
1. Do you own a unit in a building with 3 or more residential units?
● A) Yes
● B) No
(If B, you are exempt from the tax. No need to proceed further.)
2. Was your unit vacant for a cumulative total of more than 182 days in 2024?
● A) Yes
● B) No
(If B, you are exempt from the tax. No need to proceed further.)
3. Do you use the unit as your primary residence and have a valid Homeowners’ Exemption for the entire tax filing year?
● A) Yes
● B) No
(If A, you are exempt from the tax. No need to proceed further.)
4. How large is your unit (in square feet)?
● A) Less than 1,000 sq. ft.
● B) 1,000 – 2,000 sq. ft.
● C) Greater than 2,000 sq. ft.
Results:
● A) Less than 1,000 sq. ft.: Your tax is $2,500.
● B) 1,000 – 2,000 sq. ft.: Your tax is $3,500.
● C) Greater than 2,000 sq. ft.: Your tax is $5,000.
Additionally, the bill specifies that if you pay the tax and keep your unit(s) vacant for consecutive years, the tax amount will increase each year. Read more about the Empty Home Tax (EHT) on the SF Treasurer website here.
I’m curious—what are your thoughts on this new tax? Do you think it will be effective in addressing the city’s issues, or do you believe it might create more problems? Please reach out if you have any questions.
– John
Note: Tax situations can be complex, so it’s advisable to consult a professional to understand how this might affect your specific situation.
