Proposed ballot measure would cut California's inherited property tax breaks

The L.A. Times reports:

California law gives children who inherit their parents’ homes a tax break that keeps their property taxes low — even if the heirs don’t live there.

The provision, as detailed in an August Los Angeles Times investigation, has allowed celebrities, out-of-state professionals and other wealthy heirs to collect large sums in rental income from their parents’ homes while paying small property tax bills. But under a new plan from a Bay Area lawmaker, that benefit would come to an end.

Sen. Jerry Hill (D-San Mateo) is introducing a ballot measure to require children who receive the state’s property inheritance tax break to live in their parents’ homes. Doing so would rein in what Hill called “abuses” of a policy established more than three decades ago designed to help children retain ownership of family property.

“People, I think, are taking advantage and gaming the system,” Hill said.

Is Proposition 13 going to survive in the coming years?