Just to be clear, it’s only a matter of time until they go after prop 13 regarding residential properties. Bet the rent.
Then again, since the only one’s that are benefiting in a big way are the elderly who’ve been in their homes for 30, 40 and 50+ years, are all dying off. Those folks in their late 80s and in their 90s are dwindling away. What’s left will be paying double, triple, quadruple and more in property taxes.
In not to many years, prop 13 will just become a small benefit to only a very few as the days of homes in CA doubling and tripling in price are long over....
But it's going to be a disaster. There are already upscale towns in this area, where most businesses can't afford the rent. Even some chains/nationwide businesses can't afford it. If prop 13 is gone, how many of these businesses will be forced out. Id they do it residential only internet millionaires will be able to afford it. They might as well ban retirees from most the state.