No … it’s to discourage short-term investment (i.e. flipping). Long-term investors that want an income for life while providing a home for someone are fine. Hope it passes.
The vacancy tax only applies if you don’t rent out your place more than 1/2 of the year. But if you flip the property quickly, it’s not even a full year. Plus there’s exclusions for loss of time of use due to things like remodeling/construction/etc.
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