you don’t get the shaft if you remain in the same house That was the intent In the 70s elderly were being foreclosed on and their furniture and them moved out on the street.
Also seniors can transfer their old tax within the same county or 7 other counties if they buy the same value or less. see prop 60 or 90. So buy at 200,000 in 1980, sell for 1 million now, buy for 1 million or less (downsize) and pay the same property tax based on the old house.
That's my point. Once all these prop 13 old timers are dead, no one will benefit from it. Or very few....Most people stupid enough to buy in CA are tax screwed...Don't belive me, just look at the taxes they're paying on 850k and UP homes...lol
Btw, one of the top 5 reasons we bailed out of CA was the criminal taxes and over all expense of everything...We liquidated everything from 2 generations in CA. By crossing the border, we saved tons of money and got a home that was 10 times better than what we had with a shop I never dreamed up...Even gas dropped 1.50 per gallon the second we crossed the border. Now I won’t even order anything if it’s from CA.☺