Can grow no more than 2% per year from time of purchase. What is called the assessed value (the value of the property used for taxation) starts at the purchase

Can grow no more than 2% per year from time of purchase. What is called the assessed value (the value of the property used for taxation) starts at the purchase price and goes up by California inflation or 2%, whichever is lower, per year. Additions, however, are added to the assessed value. But this still leads to great inequities on how much taxes people pay. You can see what your neighbors pay quite easily by using zillo and looking at the Tax History section of a property. The fact that Prop 13 assessed values can be passed down to children and grandchildren and is also applied to corporations causes its unfairness to continue to increase each year. The sooner it is repealed the better.