For one thing, in California, prop 13 means that property taxes on a newly purchased smaller home would be a lot more than a bigger/nicer home purchased decades

For one thing, in California, prop 13 means that property taxes on a newly purchased smaller home would be a lot more than a bigger/nicer home purchased decades ago. In a lot of other places, property taxes are similarly under-assessed on homes that were bought a long time ago, just not as egregiously.