Vacant home and rental tax coming for all homeowners

Local governments are cracking down on vacant homes and rental properties with new taxes and fees.

Property owners now face annual fees for registering rental properties, and in some areas, property tax hikes for homes left vacant. The enforcement is becoming stricter, with some places monitoring utility usage to identify unoccupied homes.

These measures are being implemented across various US localities to address housing shortages and boost tax revenues. Governments aim to force owners to rent or sell vacant homes, thus increasing housing supply and contributing to local services.

This growing trend could hit homeowners hard, as the pressure to comply mounts.

Sources:

IRS: www.irs.gov/publications/p527

Huddleston Tax CPAs: huddlestontaxcpas.com/blog/deduct-rental-expenses-property-vacant/

Intuit: ttlc.intuit.com/community/investments-and-rental-properties/discussion/if-my-rental-home-hasn-t-been-rented-in-the-last-two-years-do-i-still-have-to-claim-it-as-an/00/756458