Reply #8: Exactly. Why should "persons" such as Disney Corp. gain from Prop 13?? [View All]

[truedelphi]

The measure was passed without any cap on it. Presumably so that little ol ladies would not be living in a cardboard box under the freeway should their home zoom in value from 70 K to 200 K?

It should have been capped so that once your house was over a certain limit, you paid property taxes
on the amount over the cap.

This law has rewarded people for nothing more than the fact that they came into the house buying market a generation before others did. They became wealthy, while everyone else had to make up the difference.

And there is no need for Corporations to benefit but they certainly do.