In the early 1970s, many homeowners were faced with selling their homes because property taxes were based on a percentage of fair market value...and property values were increasing faster than homeowners' incomes! Under Proposition 13, passed by the voters in 1978, capped the property tax at 1% of assessed value, plus a 2% growth for appreciation. Since that time, cities and counties have cried foul over the lack of property tax revenue generated from property owners who have held their properties for a long period of time. So what is fair? Should property owners enjoy a cap on the rate of tax increase as the expense of governments or should governments be allowed a larger tax amount? But if we are to leave Prop. 13 alone, how do you propose local governments pay for the increasing costs of schools, roads, bridges and other social needs like the homeless problem? Please support your answer with a detailed expatiation