Catalonia will tax banks for having empty repossessed homes

Catalonia has announced a new law which will tax banks between 800€ and 1.650€ a year for each empty home they possess.

The idea isn’t to generate cash, but instead to stimulate banks to start leasing these empty homes back to the region for social use.

The Generalitat says that many people are looking to rent homes, or regional authorities are looking for social use homes, but that the banks prefer to sit on these homes, empty, rather than put them to good use.

The banks own some 40,000 homes across the region, including about 15,000 homes and flats in high demand regions such as Barcelona, Girona or Lleida city centres, reports Voz Populí.

The region expects to gain about 25 million euros, starting for next year, unless the banks start using these homes. The banks can rent out the home via their own rental agencies if they want to.