Every property owner in the State of California is entitled to and has Proposition 13. Under Prop 13, which was passed by voters in 1978, real property is reappraised only when a change-in-ownership occurs, or when new construction takes place. Generally, a change in ownership is a sale or transfer of property, while new construction is any improvement to property which is not considered normal maintenance. Except for these two instances, all real property assessments in the county cannot be increased by more than 2% annually.
For the exact description of Proposition 13 as provided in the State Constitution, please visit http://leginfo.legislature.ca.gov.