San Diego County Taxpayers Association reacts to tax measure results in 2020 election
SAN DIEGO (KUSI) – Voters have rejected a measure that would have let California cities expand rent control. Proposition 21 would have let cities limit rent hikes on properties that are more than 15 years old.
Opponents argued that the measure would have discouraged new home construction at a time when it’s sorely needed.
Proponents contended the measure was an urgent attempt to slow spiraling rent increases. A recent report said more than half of California’s renters spend over 30% of their incomes on rent.
California voters also rejected a proposal to partially dismantle the state’s 42-year-old cap on property taxes.
Since 1978, California has limited tax increases to 2% a year until a property is sold.
Proposition 15 would have allowed local governments to assess commercial and industrial property every three years, a move supporters said would generate up to $12.5 billion.
Residential property, including home-based businesses, would have remained under the rules established in 1978.
CEO, San Diego County Taxpayers Association, Haney Hong, joined Good Morning San Diego to discuss tax measures that passed in the 2020 election and ones that didn’t.