Everything you said is correct. One thing I'd add, is that Prop 13 also discourages any kind of mobility. For instance, my Mom often talked about moving to a d

Everything you said is correct. One thing I'd add, is that Prop 13 also discourages any kind of mobility. For instance, my Mom often talked about moving to a different town, but she didn't, because her property taxes were so darn low. She's lived in the same home for over 40 years and if she relocated, her cost-of-living would go through the roof, due to higher property taxes.