The L.A. Times continues its roll of excellent articles on the consequences of Prop 13 with an op-ed on the huge inequalities between commercial and residential property. From the article:
“Businesses change hands less frequently than homes, and big businesses can afford lawyers and accountants to configure these as transfers or mergers, even though the effect is the same as selling it. Imagine selling your house but it’s not technically a sale, it’s a merger -- as if you and the other family could share the same space”
Californians passed Prop 13 to protect homeowners from rising property taxes, not to let corporations and shopping malls off the hook for millions in underpaid property taxes.