Property tax does not work that way in CA! Prop 13, put in place nearly 40 years ago, prevents that type of “fucked over”. Unless sold or improved, the tax basis does not follow current valuation:

That’s interesting. I’m a bay area native who didn’t go to the right schools yet still managed to land a job in tech. My father lives near Twitter and Dropbox, and when I am walking around the neighborhood with my dad I often see people I know, from the tech industry, walking the streets, eating in restaurants, going…

Right? One of the main reasons the tech companies came here is because the city let them get away with not paying the same tax rates that any other company would have to pay. They’re crying foul because heaven FORBID they not be given privileges above other people!

I guess all those new people who moved into town didn’t buy groceries, get their dry cleaning done, eat at restaurants, or pay any local taxes? Wrong! They did all those things. The idea that you are going to single out individuals based on the industry in which they work is farcical and is one more indication that…