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The message seems to be clear landlords not welcome in Oakland .
No doubt if this passes other “progressive “ cities like L.A will likely try the same thing to “capture” revenue from landlords .
Landlords in Oakland aren’t making big bucks based on current property prices .
Also 1% today and then they’ll say they need 2, 3% ..
It is the politicians that allowed the homeless situation to get out of control with their liberal policy of homelessness as a lifestyle choice .
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OAKLAND — As the Bay Area struggles with an alarming homelessness crisis, voters may soon decide whether to force Oakland’s biggest landlords to pay up to help house the city’s most vulnerable residents.
Oakland Councilwoman Rebecca Kaplan wants to impose an extra 1 percent annual tax on rental revenue that exceeds $200,000, and use that money to fund homeless shelters, help homeless residents secure permanent housing and clean up the sprawling encampments that line many of the city’s sidewalks.
The city needs more money to tackle the problem, and collecting it from Oakland’s biggest-earning landlords makes sense, Kaplan said. Rising rents are pushing people out of their homes, but at the same time, landlords are raking in cash, she said.
“We’re capturing revenue where it is,” Kaplan said, “and we’re capturing the revenue that has a relationship to the problem of homelessness.”
What a brilliant plan. Jack up the rent prices on already unaffordable housing so that more people become homeless! When they said "tackle the homeless problem", did they mean "add to it", because that's going to be the result.
Well, there's three reasons right there to raise rent even higher.
Just like the left to create a problem with excessive regulation, then attempt to solve the said problem with more regulation, exacerbating the problem and creating more problems.
What a brilliant plan. Jack up the rent prices on already unaffordable housing so that more people become homeless! When they said "tackle the homeless problem", did they mean "add to it", because that's going to be the result.
It's unlikely to raise rental prices, rent is determined by supply and demand, and demand has gone up dramatically in the last 4 or 5 years, in Oakland between 2012 and 2018 rent increased by 51.1% so I don't think a 1% tax on landlords who have benefited from those kinds of increases will feel compelled to raise rent because of this tax, but one thing you can count on, if there is continued demand for housing they will definitely continue to raise rent. And you also need to look at which landlords will be impacted by this:
Quote:
Kaplan emphasized that the tax would not target Oakland’s “mom and pop” landlords — just 5 percent of the city’s landlords make more than $200,000 a year. Currently, all landlords in Oakland pay a 1.39 percent business tax on their rental revenue. Kaplan originally proposed taxing the owners of vacant buildings to raise money for homeless services, but she determined it would be easier to tax rental revenue that exceeds $200,000, because the city already has a framework in place for collecting business taxes from landlords.
Based on the city’s revenue data from this year, adding the extra 1 percent tax would generate $7.8 million in annual funding for the city’s homelessness programs. https://www.mercurynews.com/2018/07/...ands-homeless/
Good... maybe Californians will come to their senses soon and see that these horrible leftists do not represent hard working, tax paying American citizens
Problem is they are ending up taxing many middle class Americans to subsidize the poor. Having a home where rental exceeds $200,000 a year is not upscale as apts are expensive out there.
I have friends who live out there and even with the husband's good salary - they are starting to come up short due to the increases in property tax and the taxes.
Yep, every time government gets involved in the name of helping the poor they always end up making more poor people. They will never lean.... Idiots
Neither do cons. Governments shouldn't exist, anyway.
Yawn... government here does exist and always will...you’re fantasy will never be realized. Give it a rest
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