Prop 19 more or less eliminated the landed gentry problem. Previously children could inherit their parent's primary residence and get their parent's tax base, e

Prop 19 more or less eliminated the landed gentry problem. Previously children could inherit their parent's primary residence and get their parent's tax base, even if they didn't want to live in the home. Before we bought a house we rented and my landlord was in that position. He already owned his own home in addition to several other properties in SF... yet he inherited his mom's house at a 200k tax basis, a house that would sell for $1.2m. His children could inherit the house from him, keeping the 200k tax base. And their children. And their children. Forever creating a true landed gentry. Now with Prop 19 children can only keep the lower tax basis if they use the home as their primary residence and it only excludes up to 1m in value.