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11/8/2018 Oakland Voters Appear to Favor State's First Vacant Property Tax, Richmond Poised to Defeat Similar Measure | The California Report | … <br />https://www.kqed.org/news/11702378/oakland-voters-appear-to-favor-states-first-vacant-property-tax-richmond-poised-to-defeat-similar-measure 3/11 <br />Oakland expects to raise up to $10 million per year from an <br />estimated 4,000 bare lots in the city and a yet unknown <br />number of vacant buildings and homes. Richmond <br />estimated the tax could have yielded $5.1 million per year <br />from nearly 900 vacant properties, most of which are lots <br />without any structures on them. <br />Supporters praised the taxes as creative incentives to <br />decrease blight and transform vacant properties into homes <br />and businesses. <br />Critics argued the taxes would be ineffective and could <br />unfairly penalize small-property owners who lack the <br />money to develop their lots or the resources to dispute the <br />new charges. While construction costs can vary <br />significantly based on the size of a project, 1,000 square <br />feet of new construction costs about $200,000 in Oakland, <br />according to the city's planning and building department. <br />A boarded-up building on International Boulevard could be subject to an additional tax if Oakland <br />voters approve Measure W. (Anne Wernikoff/KQED)