I think prop 13 is 99% of the issue. It disincentivizes moving at an increasing rate the longer you hold on. Taxes rising with market value prevents this accele

I think prop 13 is 99% of the issue. It disincentivizes moving at an increasing rate the longer you hold on. Taxes rising with market value prevents this acceleration. Average home value in Palo Alto is 2,901,408. Average Property tax is 0.42%. $12185.88. Thats the equivalent tax bill of a new house worth 1.2 million, less than 50% of the average house value in Palo Alto