Just keep in mind that the reassessment does not change your original cost basis. It is a temporary valuation for tax purposes only. As soon as values really start to increase again and recover, your taxes will shoot right back to where they would have been assuming they had gone up 2%/yr from when you originally purchased, not 2% from last year, far exceeding the prop-13 cap. A lot of people don’t realize this, and when the tax man “recaptures” those lost taxes after many years of price stagnation, they are hit with a property tax hike of the likes of a neg-am teaser readjusting.