More Evidence That California Is Deteriorating Into a Feudal Society of Inherited Land Wealth

Look no further than a Los Angeles Times investigation published on Friday afternoon.

The story, by Liam Dillon and Ben Poston, analyzes the fallout from a 1986 California law that allows children to inherit their parents frozen-in-time tax assessments along with their houses. The state’s property tax rolls were forever stunted by 1978’s beloved, infamous Proposition 13; the 1986 follow-up, Proposition 58, is what allows those ’70s tax rates to be enjoyed by the next generation.

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