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Rent control opponents warn of $300 billion impact to local budgets
Rent control opponents warn of $300 billion impact to local budgets
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Over the course of a decade, the center’s projections found, the proposed cap on rent would erase $300 billion from home and property values by limiting the earning potential of owners. That would in turn reduce what cities and towns collect from property taxes, forcing decisions about slashing public services or hiking rates in what Evan Horowitz, the executive director of the Tufts research center, called a “cascade of effects.”
“This question is so poorly drafted and has so many issues, it’ll impact not only people and homeowners, but it’s really going to impact cities and towns in ways that I’m not sure that people fully understand,”
