Since my kid is 5, hopefully that doesn’t happen. In general, the generational passing of the asset is one of the things that is broken. The limit on the increase, isn’t.
Without concrete data, it’s hard to quantify what level is the problem. I bought my first townhouse in 1997. By 2003, it was accessed at less than half of market value. That wasn’t an intergenerational transfer, that’s California’s bubbly real estate. Anybody that purchase pre-2005, basically will be at half market. Even most peak buyers are even again.
The primary problem opponents of Prop 13 have is the massive over-reach they are doing in the money grab. And previously proposals against prop 13 have been money grabs and not tuning of minor issues with it.
