"A November ballot measure to allow more rent control of California’s housing market could cost local and state tax coffers hundreds of millions of dollars. That’s the sobering bill for Proposition 10"
"The state analysis homes in on one aspect of Prop. 10: a likely drop in rental housing values if strict rent limits swing into place. Real estate won’t be worth as much if there’s a cap on rental income. That in turn leads to lower tax valuations when apartments and homes are sold. The measure “likely would reduce state and local revenues in the long run,” the report said."