California politicians were working on solutions to the property tax problem for years. The same year prop 13 was on ballot, something else was on ballot to fix the problem, which would have done a much better, targeted job - but unfortunately big money poured into prop 13 and that got passed.
My parents bought a new house in 73, and by the time prop 13 passed it was worth around 3x the purchase price. They both worked in tech and were close to having to sell their house (they had 4 kids).
It was a real problem, prop 13 was just a bad solution.
Imho the problem was that the politics of the day got it passed to cover commercial properties too, when it really should just cover primary residences. And not secondary homes or rental properties.
Prop 13 is $30B (billion!) per year. Surely there are cheaper ways to fix the "red tape" and "awareness problems",