Then why do you think the tax-happy Democrats who control the legislature haven't repealed Prop 13 yet? After all, it is a relic of an era when anti-tax Republicans still had influence in California politics.
My theory is that if it were repealed, and people had to pay property tax on something approaching the actual current market value of their homes, home values would tank. Homeowners would then "lose" a significant fraction of their net worth, get pissed off, and immediately vote out anyone who had voted for the repeal.
My theory is that if it were repealed, and people had to pay property tax on something approaching the actual current market value of their homes, home values would tank. Homeowners would then "lose" a significant fraction of their net worth, get pissed off, and immediately vote out anyone who had voted for the repeal.