1. The tax is not pegged at the sale price. What prop 13 actually does is limit the amount of appreciation the state can recognize for tax purposes.

2. There are lots of states/cities in the US that do not cap the appreciation of your house for tax purposes, and I don’t think it destroys millions of families. In fact the California cap is generally seen as a terrible policy because it distorts the housing market

Any why should Prop 13 apply to commercial real estate?