Prop 13 is very difficult to have an exit strategy for because people feel entitled to their feudal (and inheritable) tax rates. The idea that a $2 million home should be treated as a $100,000 one for taxes is laughably wrong, but the people who have enjoyed that benefit for years will be permanently against any politician who changes it.

I disagree with the 90% number for the LVT switch on multiple fronts: for starters all the people with historical discounts will pay more. Secondly, the typical SFH pays more and there is a lot of SFH in California.

LVT is still worth doing but making it actually happen is politically difficult in the best of states and California is the worst one due to Prop 13.