Officials who manage tax revenues in three counties came out against Proposition 33 on Tuesday, a ballot measure that seeks to repeal rules prohibiting rent control for much of California’s housing stock.
The officials from Alameda, San Diego and Riverside counties warned in an exclusive statement to The Sacramento Bee that if approved, Prop. 33 could cut funding for schools and emergency services in their communities.
According to the nonpartisan Legislative Analyst’s Office, Prop. 33 could lead to a “reduction in local property tax revenues of at least tens of millions of dollars annually” in some communities if they enact new rent control laws.
Prop. 33 would make it easier for cities and counties to enact rent control on apartments and single family homes. The LAO wrote that if more housing units become rent controlled, it could cause ripple effects including fewer renters moving and more landlords selling their rentals.
“The value of rental housing would decline because potential landlords would not want to pay as much for these properties,” the LAO wrote .