[foogazi]

> Prop 13 is one of the legs of the stool of most dysfunction in California.

Are Prop 13 benefits for businesses still in place ?

That would be a good start - if the company is sold all its underlying California holdings get re- appraised

[Aloha]

REIT's are a huge work around for Prop 13, the REIT can change hands dozens of times, but the underlying property is never sold.

[foogazi]

Thats what I mean for companies too - the value of the land is part of the company or funds valuation

REITs are traded on the value of the underlying asset - unlike a homeowner that does not extract value from their property

Properties packaged in tradable shares should be re-appraised annually at least