I wouldn't say it eliminates it. When you buy a property, you still pay taxes on whatever your purchase price is. Prop 13 just mediates the rate of increase, which is beneficial, but not immediately.
And again every year after that, including whatever increase your taxing authority may legally apply, usually the maximum allowed by law unless you actively fight it.
Texas has no state income tax and property taxes are (so they tell me) quite high as a result. My property tax is $7k+ each year. Not onerous because I have a full time job, but many of the retirees and landlords in my area did find it onerous enough to sell. Bad for renters because a lot of reasonably priced rental properly was lost, good for the city because a house like mine was torn down and 5-7 condos or townhomes took their place. Now the city is looking at easily 8 or 9 times the tax revenue for a single lot like mine since these new homes also appraise higher than mine.
If anything prop 13 represents one extreme and Texas the other. It would be nice if we could meet somewhere in the middle.
The tax rate has nothing to do with building houses.
(I meant to say they do want to keep their taxes affordable)
> (I meant to say they do want to keep their taxes affordable)
That has absolutely nothing to do with CEQA.
I fail to see the downside here. Isn't that a good thing, and exactly what you want in California (SFH being replaced with more units)?
Depends on whether you're a preservationist or not. There are also other answers to high density than a few condos per each 5,000 sqft lot. Combine a few of those lots and you can build a 10-20 story tower which will hold many more people.