People are surprised that Prop. 13 applies to investment and commercial real estate. I was too until I discovered that Howard Jarvis and the backers of the prop

People are surprised that Prop. 13 applies to investment and commercial real estate. I was too until I discovered that Howard Jarvis and the backers of the proposition were all apartment owners. If it only applied to owner-occupied residences, it would never have been up for a (off-year election) vote.