In my view, Prop 13 is a most problematic as applied to investment/commercial real estate, a lesser one applied to secondary residences - but really is a good thing for primary residences.
People are surprised that Prop. 13 applies to investment and commercial real estate. I was too until I discovered that Howard Jarvis and the backers of the proposition were all apartment owners. If it only applied to owner-occupied residences, it would never have been up for a (off-year election) vote.