Prop 13 caused lots of problems and also provided structural social benefits, allowing people to stay in their homes.

Removing prop 13 from commercial buildings (nobody lives there) and removing the socially corrosive ability to give it to your kids tax free would fix most of the financial and social problems and preserve the best part.

Or better yet, remove corporations from being eligible to enjoy prop. 13 all together - whether commercial, industrial, farm or residential.

This would keep grandma in her home or farmstead, but prevent corps from selling, but doing tax free exchanges and preserving the low tax base forever.

PS, mark-to-market is a terrible idea and these gains are not income for most people until sold. We already have property taxes, we just need them to work.

I think it should be removed from everything except an owner-occupied primary residence. I see no social benefit to giving a tax advantage to long time landlords.

It’d be pretty easy to carve out for people without resources to pay such taxes.

They will leave the country immediately.

It turns out most people don't organize their lives around tax policy. And in the case of US persons (citizens and GC holders) leaving the country doesn't remove the obligation to file and pay taxes.

Doubtful. Maybe they’ll move somewhere else in the US. Ie dispersing throughout the rest of the US. They’d increase demand for goods/services elsewhere and maybe real estate becomes cheaper where they left.