Old homeowners that benefit from prop13 don’t care and I can understand why. If you’re able to own properties and pay relatively no tax on property that’s wort

Old homeowners that benefit from prop13 don’t care and I can understand why. If you’re able to own properties and pay relatively no tax on property that’s worth 10x what you paid for it that’s an insane win. It also lets you vote to restrict supply even further to preserve “neighborhood character” and drive prices up even higher with no consequence. Only new people get screwed. Their own kids maybe, but they can just pass the house down and capture that wealth for generations. Meanwhile, new owners pay insane housing prices and fund the town via their actual market value property tax, while old owners leech this value and play victim. It’s a massive wealth transfer from young to old. With such an extreme incentive structure it’s no surprise the rationalizations of it are similarly extreme. I wouldn’t care so much if they didn’t consistently lobby to restrict new housing supply - but of course they will because the incentives are such that there is zero downside and only upside for them to do so. It’s frustrating to listen to someone who bought a house for 300k and pays $300 a month on property tax whine when that house is now worth $3M and their neighbor had to pay $4M for a similar property and $4k per month in taxes. You won the lottery and then warped policy to your benefit, at least be gracious about it.