Regrettably not. Note also that ti's a constitutional amendment, meaning it won't be able to be overturned by the legislature in the (admittedly unlikely) event that it passes. This is a simple money grab by established interests, although it will be sold as protection for the most vulnerable - with the unspoken provise that those who don't own property or have significant taxable income don't matter. A previous initiative which limited growth in property taxes, prop. 13, did a lot to shape the development of housing in the state and arguably has contributed to the housing crisis, since it creates significant disincentives to sell if a property has gained significantly in value. I'm not a big fan of property taxes to start with, but prop 13 means that people living in otherwise identical properties on the same block can be paying wildly different rates of tax depending on when they purchased their home, which is rather inequitable. I'd be somewhat worse off if it were abolished but I don't think it's been good for California.