[et-al]

> The idea that Prop 13 protects people from being taxed out of their hugely inflating financial asset is somewhat preposterous on its face. It mostly protects large landholders, and gives a tiny tiny benefit to the people that we are concerned about.

When you say "large landholders", are you talking about REITs and commercial property holders? If so, wouldn't Prop 15 have addressed these issues?

https://en.wikipedia.org/wiki/2020_California_Proposition_15

[epistasis]

Anybody who owns more than a home, including "small" landlords.

If you look at land distribution in cities, you'll find lots of super wealthy families, hidden behind LLCs, and a few REITs, the smaller scale landlords, and then finally individual homeowners.

Those wealthy land hoarding families are often worse than REITs for cities, in that maintaining their own political power is more important than profits, and that can be worse for people on the lower end not the economic scale than even REITs' horrifying landlord behaviors.

[et-al]

Thanks. I had briefly thought "what if we just tax second homes at market rate?" But quickly realized the loophole of creating a company/trust per property.

Have you come across any good articles showing the breakdown of land ownership in SF?