Bill 46, which would create a new “residential E” tax category for residential properties left empty more than six months a year, is on ice for now. On Wednesday, the City Council voted to table the bill until it can consider a consultant’s analysis of implementation strategies.

Although Council Chair Tommy Waters had pressed for passage this year, the bill drew spirited opposition from real estate agents, in particular. No surprise there: Honolulu’s low property tax rates make housing units attractive investments for those who can afford it. Bill 46 aims to deter buyers from leaving homes empty, which exacerbates Oahu’s housing shortage and drives up prices.