The Bay Area is a battle between platform capitalists vs. neo-feudal property owners with generationally inheritable low property tax rateshttps://twitter.com/sama/status/889185753346875393 …
But if it does 4400 units of housing like the developer wants, it will only make $1M net in tax revenue under the current rules.
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Good point. I think it'd also need to repeal prop 13 for rental units for a way to increase residential units.
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+ I'd expect that commercial property build requests will go down after the tax shelter is lifted and more sales
End of conversation
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