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Will Prop. 13's 1% limit be repealed by 2030?
/xyz/will-california-repeal-prop-13-2-ca
/xyz/will-california-repeal-prop-13-by-2 <- this market
1,000Is this the kind of thing that eventually becomes self-defeating? If the real property was taxed based on market value, presumably those people currently paying a higher rate would get some relief due to the increased tax burden on those currently paying based on a lower valuation? Once enough people are paying at the higher rate, they would outnumber those paying at a lower rate?
@Eliza you are overthinking this, it is just really difficult to get a ballot proposition passed that raises taxes in any way LOL