The big problem with Prop 13 is that by allowing assessed basis to be passed along to heirs, it is in effect creating a “landed class”. Two generations is a long time.
Two generations is indeed a long time, So what? I still pay sales taxes and State income taxes. The state makes far more tax money from me than they spend for me. It would be intolerable to pay sales tax, income tax, and sky high property taxes. It would force me out of my home.
As far as a “landed class”, I would much prefer to pass this benefit on to my children. With current real estate prices, it will be very difficult for them to get homes of their own. I want to give them every advantage. I have never been one of those who worries that another class has advantages that I dont. I recognize that there are people who inherited money and I didn’t. I don’t envy the rich and I don’t want them taxed into poverty. I want to learn how they became rich and follow their example.