Nothing will change here until Prop 13 is meaningfully dismantled. It makes no sense for a boomer owner of a quadplex rental property to be paying less property tax then a owner of a new studio apartment.
So. much. this. Of course it will end as soon as the tax base collapses as more large businesses leave this year.
California just surpassed Germany to become the world’s 4th largest economy. This won’t end, people will just gripe and adapt as it plays out over decades.