Thank you for that Jeff.

Also, the OP might have a look at
http://en.wikipedia.org/wiki/California_Proposition_13_(1978)
<http://en.wikipedia.org/wiki/California_Proposition_13_%281978%29>
Properties in Cali are reassessed every year...within limits.

Steve
RE Appraiser, Retired
> It's a mess. Prop 13 in CA in the 1970s forbids the state from reassessing
> your home, so you pay 1970s value property tax on your home until you sell
> it. If you bought it in the '80s you're locked in there, in the 90's the
> same and so on. You may be in a million dollar home but you pay taxes as if
> it was worth $30K.