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Prop 13 means that any property tax increase won't apply to anyone who's owned a home for a long period of time, or purchased at the bottom of the market in 200

• dragonwriter 3y ago
  > Prop 13 means that any property tax increase won't apply to anyone who's owned a home for a long period of time, No, it doesn't. Assuming that a taxing jurisdiction in California was to raise property tax rates, Prop 13 would apply the rate increase to all taxpayers in the jurisdiction. The lower effective tax rate for people who have owned a property longer under Prop. 13 isn't a limitation in their nominal rate, it is a limitation in their basis value (assessment increases are generally limited to the lower of 2% or the rate of inflation each year.) But that's all theoretical, in reality, Prop 13 means there won't be any increases to property tax at all, barring repeal or amendment of Prop 13 itself. While everyone talks about the limitation on tax basis value assessment increases in Prop 13, Prop 13 also sets a very low maximum property tax rate of 1%, and every taxing jurisdiction in the state already has their rate set at this rate, so it is impossible under Prop 13 to raise property taxes rates.