Prop. 13 was a 1978 California ballot proposition which, among other things, passed a constitutional amendment that capped property taxes on all property at 1% of their purchase price, with a maximum annual inflation adjustment of 2%, regardless of market price. This has led to property taxes varying drastically between neighboring houses; houses which have been held for the longest have the lowest property taxes.
While in the past there have been attempts to pull back some parts of Prop. 13, such as a US supreme court case, and many ballot measures, none have succeeded. However, a growing contingent of the YIMBY movement sees Prop. 13 as entrenching NIMBY and SFH interests.
Will Prop. 13's 2% yearly adjustment cap be repealed by 2030?
/xyz/will-california-repeal-prop-13-2-ca <- this market
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3.00This is a complete repeal of the 2% adjustment rate? What about partial repeals like Prop 15, which repealed the adjustment rate for commercial property?