[bufordsharkley]

The problems that Prop 13 causes may be far larger than the problem that inspired Prop 13, but that doesn't mean that this initial problem (that is, highly unstable property taxes) shouldn't be addressed.

Personally, I think the work of Shiller, as outlined in his work "Macro Markets", is the best solution: insurance policies that homeowners would buy to protect against price changes. A variant would be insurance against changes in property tax itself, offering as a good hedge to property owners.

[tamana]

The problem the inspired Prop 13 was that poor people got school funding from rich people.

[bufordsharkley]

This is also very true.

It's an injustice that school quality is usually determined by local property taxes, but if the alternative (sharing) leads property owners to throw a fit and defund everything, perhaps it's the lesser evil.