BG: I fully agree that when Prop 13 allowed relatives to keep the same assessment as the original owners a huge and growing “welfare” benefit was created. And it is welfare that is totally unwarranted, as it confers benefits on those with above-average net worth.
Blame the CA legislature, which responded to a small cry-baby segment of the population, ignoring the long-term implications.
Having said all that, I’m not sure a lot of money is involved, since properties constantly change hands, and heirs can’t always take over properties for a variety of reasons.
Do you have any hard numbers of how much this unwarranted benefit is costing in lost CA property tax revenues?
