4 ms·
Not disagreeing. But, another factor worth mentioning is the impact of local rent control laws. If prop 13 went away statewide but local rent control laws rema
by HillaryBriss 10y ago
Not disagreeing. But, another factor worth mentioning is the impact of local rent control laws.
If prop 13 went away statewide but local rent control laws remained in effect, owners would be looking around to make up the difference.
If an apartment building saw regular property tax hikes, the owner's inability to pass most of the higher tax costs on to renters would cause new unintended consequences (e.g. reduced building maintenance).
- ec109685 10y agoWhy wouldn't they already be maximizing their own profit today?
- HillaryBriss 10y agoyes. right. i think they are trying to maximize profit in any environment. and eliminating prop 13 would mean less profit. if the experience of rent control laws over the last forty years in places like Santa Monica is any guide, the property owners will cut corners on building maintenance if they are not allowed to raise rents and pass the tax hikes through to tenants.