Property taxes are a base of 1% of the assessed value plus nickels and dimes of local taxes bringing the total to about 1.5% depending on where you live. They increase by 2% annually. I've lived here for 40 years and have owned 4 homes and have never had my home reassessed. So if you're home has a tax base of $300k your taxes are about $4,500 per year. The 2% increase amounts to a $90 increase. Not the increase is compounded but you get my point. I've heard of very few people being forced out of their homes due to property tax increases. That was the whole point of Prop 13.