From The Press Democrat, May 13, 2015
The implications of McGuire’s bill are potentially far-reaching. More than 1 million people worldwide use Airbnb to rent out their properties, generating an estimated $450 million in economic activity last year just in the city of San Francisco, according to Owen, the company’s representative.
But supporters of the bill say local economies are losing out on potentially millions of dollars in uncollected bed taxes under the current system. McGuire also cited frustrations with some rentals becoming the equivalent of a “new hotel” in some neighborhoods.