Bill Would End Tax Breaks for Second Homes in California

AB 71, originating from the California Assembly, would raise funding for low-income housing construction by ending an existing tax break for second homes.

December 21, 2016, 11:00 AM PST

By James Brasuell @CasualBrasuell


Second Home

Galina Barskaya / Shutterstock

"In their quest for more money for low-income housing construction, state lawmakers are now turning to Californians who own more than one home," reports Liam Dillon.

"Assemblyman David Chiu (D-San Francisco) introduced a bill Friday to end a tax break that allows homeowners to deduct the interest from the mortgage on their second home from their state taxes," adds Dillon. The tax break amounted to $300 million in lost revenue for the state, with 31,000 residents benefitting from the break. "The bill, AB 71, would direct those funds to an existing program that finances low-income housing construction through tax credits."

The article includes statements from Assemblymember Chiu, who argues for the benefits of AB 71 to the larger portion of the population in need of housing. Dillon also details the other bills already moving through the legislature that have similar goals for easing the state's housing crunch. AB 71 is unique among the many housing bills, writes Dillon, because it strips away an existing benefit from homeowners.

Monday, December 19, 2016 in Los Angeles Times

Boston

Boston Introduces 'Maximum Parking Ratios' for Large Buildings

Large buildings with uses of all kinds will be subject to Boston's new "Maximum Parking Ratios."

October 14, 2021 - Streetsblog Mass

A person in a bright green vest with the words "Covid Marshall" patrols a street fair in Australia.

5 Tips for Planning Safe Post-Pandemic Events

As community events start move off-screen and become available to the public again, here are five ways organizers can ensure public health and safety.

October 13, 2021 - Devin Partida

Biker and driver

Jaywalking, Idaho Stop Bills Vetoed by California's Governor

Faced with the opportunity to redefine the traffic safety regime in one of the nation's most progressive states, Governor Gavin Newsom flinched.

October 11, 2021 - San Francisco Chronicle

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Hand Drawing Master Plans

This course aims to provide an introduction into Urban Design Sketching focused on how to hand draw master plans using a mix of colored markers.