In late October, we reported on a number of California, San Francisco, and regional propositions, including measures impacting real estate and other taxes, rent control, affordable housing, permits, and governance. At the state level, results were mixed and in some cases still too close to call, with voters clearly rejecting expansion of local residential rent control (Proposition 21), appearing likely to reject proposed changes to commercial property tax assessment (Proposition 15), but appearing likely to approve revisions to residential property tax reassessment. Greater certainty is expected in the coming days and weeks, and no later than December 4th, when county elections officials must report final results to the California Secretary of State. In San Francisco, voters approved all of the measures that we reported on, including major new and increased business taxes.
Continue Reading Election Results: Key San Francisco and California Ballot Measures Impacting Real Estate