Prop 13 is such garbage, especially for rentals. My landlady was charging me $2500/mo and paid $650/year in property taxes. I think she used that property tax transfer for 55+ older from an even older place she must have purchased a long time ago, because the assessed value is now $60k, but the property is worth at least 500k. Bullshit. Not to mention the insane appreciation on the property. It was a poorly maintained dump of a place. She had no interest in fixing it or taking care of it, but had every incentive to hang onto it because it cost her NOTHING.