[dragonwriter]

> I don't know the English terms here, but that kind of situation where individuals are earning massive profits because everybody else built city around them, is just wrong. That unearned rise in the property value should be taxed away.

Prop 13 prevents this, and in fact makes it so that only redevelopment or change of ownership allows increases in property value to be taxed, which is one reason owners might prefer not to redevelop.

Full value assessment (even retaining the Prop 13 limit on tax rates) would encourage redevelopment because underdeveloped properties would still be paying taxes based on value increases from potential uses.