Most likely a prop 13 issue. Property taxes don’t go up in California unless you sell, since 1978, which means a lot of people are still paying what they paid i

Most likely a prop 13 issue. Property taxes don’t go up in California unless you sell, since 1978, which means a lot of people are still paying what they paid in '78. Goes for commercial too, not just poor grandma eating cat food with all that equity in her Beverly Hills cottage. All the big towers are leased. I heard it’s downright byzantine, with many layers of 99-year subleases. Good deal for the lawyers, and for the landlords! Some professional would lose a license for malpractice if they sold. By the way, it’s not just SF, it’s also the big chunks of the valley. The Facebook sign still says Sun on the back, and the Googleplex land is on lease from NASA. Question I’d like to know the answer to: who owns the land at Apple Park? This law is enshrined in that fine document the California constitution, and can only be repealed by a simple majority of voters. Voters who own homes, or live for free in a home someone owns, or pay rent to live in a home someone owns.