In theory that should mean more tax revenue for San Diego, but then we’ll have to rely on our politicians not being corrupt and actually using the money for public services…
How does increased rent generate tax revenue for the city/county? I help manage properties and the owner pays more state and federal taxes if their income increases but they don't pay an income tax to the city or county.
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That's a bummer, because from what I see wages do not match SF in SD.
Remote work allows those with SF wages to live here and landlords know it.
In theory that should mean more tax revenue for San Diego, but then we’ll have to rely on our politicians not being corrupt and actually using the money for public services…
How does increased rent generate tax revenue for the city/county? I help manage properties and the owner pays more state and federal taxes if their income increases but they don't pay an income tax to the city or county.
They’ll buy more things locally, more sales tax.
Really unfortunate. I hope that the state's new laws for building housing start creating impact - higher and higher rents are not what the city needs.