[quote=The-Shoveler]To be honest I don’t see how that will help create inventory and if you lower property values it will lower property taxes as well.
The only thing I see it doing is force old apartment owners to raise rents, force places like Qceanside to remove rent control on the trailer parks. Etc… and force biz out of the state,
Anyway good luck with that.[/quote]
They cannot increase rents beyond what renters can afford without affecting their profitability in other ways: higher turnover rates, more evictions, denser living conditions, etc.
It would not directly affect rent control in any way that I can discern. Am I missing something?
And how would it force businesses out of state? Surely you don’t believe that commercial/industrial landlords are charging below-market lease rates in order to “share” the benefits of Prop 13 with their tenants.
As far as lowering property values, any loss in assessed values would be more than offset by the increased revenues that would result from the revaluation of the properties receiving the Prop 13 subsidy.
