Prop 13 helps homeowners that are on a limited income retire and stay in their homes. If it wasn’t for prop 13 the government can impose tax hikes anytime they want. This law was made to prevent the government from raising your taxes more then 2 percent annually. It wasn’t meant to separate the new buyers from the old buyers. It’s the unprecedented run-up in prices that have done this. It’s also the builder’s that pass on obligations from the city to the buyers through mello roos. Anyone can take advantage of prop 13. It does not discriminate a buyer in any way. It is a hard pill to swallow when your neighbor may be paying 1/2 of what you are, but it also allows you to do the same if you stay long term. With all this new tax revenue I don’t understand why the city is still in financial trouble. I also think when prices double like they did in 3 years, there should be some kind of tax reduction for new buyers to make it fair, maybe a max of 10% increase annually.