Which sounds like a recipe for... grandpa dies, grandma can't pay property taxes so defers it for 10 years. Grandma dies and whoever inherits the home needs to be pay a massive deferment (unaffordable?) or give up the home.
Not sure where this bizarre idea came about that people whose houses dramatically increase in value should:1) be able to avoid paying taxes on that value and 2) pass the house down, in whole, to their heirs without paying increased taxes.
It sounds reasonable to me that a retiree with a conservative investment portfolio that is barely over/under inflation should be able to live out their remaining life in that home.
I think someone who spent enough money could repeal it, and it'd help.
There isn’t a red state that doesn’t wish they had Prop 13.
