In constraint, California tax policy incentivizes keeping around crappy old buildings. If keep the old building, Proposition 13 limits how much your tax can go

In constraint, California tax policy incentivizes keeping around crappy old buildings. If keep the old building, Proposition 13 limits how much your tax can go up. If you build a nice new building, the state punishes you but reassessing the value of your property. This can greatly increase your property tax if you have owned the property for a while.