[HDThoreaun]

No, the effects of prop 13 are not overstated. NIMBYism is a bigger problem, but prop 13 makes it financially reckless to ever move. Yimby policy would lead to less drastic divergence between value and tax rate as value increases slower, but there would still be a gap as people who bought SFHs in the town center would see the properties value grow due to the lack of land value tax.

[ryathal]

It's not prop 13 that made property values 10x in the last 30 years. It's the lack of supply forcing bids ever higher. Downsizing and rebasing taxes isn't a big deal if you went from a 1980s 100k 4-bedroom house to a modern 300k 2-bedroom condo, it's a huge problem if the cheapest option is over 1 million.