Yes Prop 13 I owned home in Calif when that was done. House double in price every 5 years but tax went up 2% a year. Sold in 94. Still have friends who own houses from the 60s which cost maybe 30k, now worth a million. The buyer who pays the new price gets the start up tax but can afford it.
They sold their 1100sqft house for 800,000 after listing for 750,000. Moved to Idaho and bought 3000 sq ft house for 500k. Now all the fleeing Californians to CDA, ID have risen the ID home to 1.2mm. Lucky!