I lived in LA when Prop 13 was passed. It was intended (promoted) to keep long time homeowners from paying more in taxes than their monthly payment to the bank

I lived in LA when Prop 13 was passed. It was intended (promoted) to keep long time homeowners from paying more in taxes than their monthly payment to the bank each month, which was mostly affecting folks of retirement age. Hard to imagine they didn't omit homes that were being rented back then.