California is even more screwed up with property tax laws which essentially subsidize boomers (who have property taxes locked in based on the value of a home pu

California is even more screwed up with property tax laws which essentially subsidize boomers (who have property taxes locked in based on the value of a home purchased in the 1980s!) to the detriment of anybody buying their first home (who pay tax based on current value). I live in the Bay Area and know multiple households making well over $250k who rent largely due to the fact that those who bought 10-20 years ago are paying about 1/3 of the property tax of a new buyer today (even setting aside interest rates).