http://www.assessor.saccounty.net/LowerMyTaxes/BaseYearValue...
If you're leaving the Bay Area, you're going to a far less expensive property, plus a dozen or so counties accept transfers of Jarvis-Gann protections anyway. But the tax hit is the crippling factor.
Its a big country. Its a big state.
[edit]: Anybody care to explain (or speculate) why this is being downvoted?
Prop 13 was not created in a vacuum, it exists to solve a very real problem. And don’t forget, the young people that mostly don’t feel this problem don’t vote nearly as much as the older people for whom this problem is most keenly evident.
It is nativist homeowners that oppose new building because it reduces home appreciation and brings traffic and ethnically different people to the neighborhood / city.
What if those pesky younger people did vote? What if they outvoted all of these older NextDoor-Angry people?
It will remove the immoral handout landlords have gotten themselves in the name of the residents facing unexpected increase in property taxes.
If you're wealthy and can afford to pay a market rate property tax, then you pay it.
If the point is simply to raise income for the state, that’s an interesting discussion that we can chat about. But the topic is housing availability and I don’t see how this proposal would affect that with real means testing. People who can afford it won’t move and landlords will simply pass the costs on to renters.