<Prop 13 basically keeps the property taxes constant (or 1% increase) as the value of your house increases (doubles or triples)> No, it sets your base tax valu

<Prop 13 basically keeps the property taxes constant (or 1% increase) as the value of your house increases (doubles or triples)> No, it sets your base tax value at purchase to 1% of the purchase/FMV price, and its increases from there are annual and limited to 2% of the previous tax. e.g. assuming a purchase price in 2015 of $1 million: Year Tax 1: $102,000 max 2: $104,040 max etc. (initial * (1.02 ^ year#)) <Your tax gets re-calculated only if you sell your house> Or any other change in majority ownership. It can also be triggered by improvements. Note that local governments heap many additional taxes in the form of "parcel taxes" that are fixed amounts -- a regressive tax effect (a $20M estate and a $300K condo pay the same amount).