[timerol]

To be pedantic, 1978 California Proposition 13 (Prop 13) limits property tax increases to a max of 2% per year. In the decades since, especially in areas with high growth, the overall tax being paid on property has become a tiny percentage of the property value. This tax is reset to a reasonable rate when significant construction or a sale happens.

[georgeecollins]

Can't stress often enough the problem that the unintended consequences of this bill have caused. Most people that voted for it though it would just limit the increase of property taxes on homes. They didn't realize it affected warehouses, factories, etc. It's a mess that has to be changed.

[mcguire]

If I remember my government class, it was primarily backed by the owners of multifamily rental property. While most single family houses at the time changed hands every few years, apartment buildings were typically kept for decades.