In the past it would have been considered political disaster to even mention Prop 13, (a proposition limiting real estate taxes), but now with a supermajority the Democrats could be arrogant enough to repeal it and they would not even need to take it to the people in the proposition process, such as they needed to do with prop 30 this year. they would only need to decide if it would cost them their seats if they did it, and right now they may believe they could get away with it. I think there is a chance they that could start by targeting commercial real estate first, and if they get away with that they would go ahead and finish the job with residential property. I'm floating this as a muse to see if any of the more informed ET'ers have an opinion on it, (beyond the COMMUNISTS ARE TAKING OVER ARRRRGH screeds). I'm a renter, the property I rent was built in 1925 and has been in my landlord's family since 1945. A prop 13 repeal would probably be devasting to him - and me as his renter.
In the seventies a friend of mine, with a very good job, sold his house in Thousand Oaks because he couldn't pay the real estate tax. It was 7000 dollars a year back then. And that would be a large load for me to carry back then.
It would be naive to hope prop 13 would NOT be repealed... that's "where the money is". Prepare yourself for being "devasted"...