Prop 13 benefits the wealthy and should be overturned. The repeal should be a part of the Occupy movements in California. My house is worth $150,000 and I pay more in property taxes than some of my bosses with $500,000 houses just because they bought their house a long time ago. What's that about? I also read an aricle by a real estate guy in which he advised people to buy their parents' houses because they can keep their prop 13 tax rate because it goes to a direct family member and then turn around and rent it out, thus avoiding thousands of dollars a year in taxes on an income property. Do you think they pass the savings onto the renter? NO! Prop 13 is another scam to preserve intergenerational wealth for the elite while the rest of us struggle just to make a house payment. It's another slap in the face of the poor and middle class, especially renters.