There is a thing of value -- a tax subsidy -- which makes the house more valuable to the current owner than the next. That's the distorting power of Prop 13, th

There is a thing of value -- a tax subsidy -- which makes the house more valuable to the current owner than the next. That's the distorting power of Prop 13, the old owner has to give up not only the house but the tax rate. (This is somewhat ameliorated by the fact we let people take the tax subsidy with them under many circumstances now, so people can move to a different part of the state and already pay less tax.)