If you want to protect poor homeowners, that's a noble goal, but it should be achieved with a narrowly tailored policy. Thousands of rich homeowners in Palo Alt

If you want to protect poor homeowners, that's a noble goal, but it should be achieved with a narrowly tailored policy. Thousands of rich homeowners in Palo Alto are paying less than 10k per year on multi-million dollar properties because of Prop 13, and that's both unfair and unsustainable. Not to mention the corporate properties: Disney World, for example, pays an indefensibly low tax rate. The negative side effects of Prop 13 far, far outweigh any benefit to poor people (most of whom are renters priced out due in part to Prop 13!).