[quote=spdrun]Can someone explain CA law, as regards Prop-13… Am I correct that once assessment drops, it can’t be increased by more than 2% per annum, except if the property is sold? Or does it only mean that it can’t be increased by > 2%/yr above the original level at purchase?[/quote]
It has been awhile since I looked into it, but it is my recollection that the assessment can increase by 2% a year from the original assessed value at purchase.
If you get a temporary assessment drop, it can be increased in future years to reach whatever that original assessment + 2%/yr value turns out to be.
