Yeah, it’s great paying 10x the tax of our neighbors with similar house values because they moved here 30 years ago. The argument is always “people shouldn’t be forced out of their homes because of rising prices!” but we shop at the same grocery stores, eat at the same restaurants, pay the same power and gas bills…
What we end up with is neighborhoods with literal multi-millionaires in >1m properties living next to squalor, and people living in such a situation can’t afford to move anywhere else within 50 miles. They stay and try to scrape by until they can’t take it anymore and move somewhere cheaper, or pass away and the property is promptly torn down, rebuilt, and sold by the family for a ~1m profit. The reality of someone who can barely afford that even massively-reduced tax bill living in a million-dollar house that they can’t sell without moving out of state isn’t pretty, but these are the situations that Prop13 advocates are supposedly protecting (when really they just want to keep their own much lower tax bill forever in a vacuum detached from reality).
A lot of the really bad Prop13 offenders are businesses though. I don’t have much sympathy for landlords, but I have even less for Disney paying 1/100th of their property tax because of prop 13: https://www.hollywoodreporter.com/business/business-news/dis...
https://aagla.org/2021/12/the-california-chamber-of-commerce...
Unfortunately, boomers and existing home owners will keep voting against ANYTHING that reduces Prop13’s benefit to businesses because they all think it’s a slippery slope and that they’ll come for residential next.