CA Property tax question: If your home is appraised will your tax rates be based on the appraised value?

Question

Or does prop. 13 force counties to stick with the original price a buyer paid for the home? I want to take a very small home equity loan out ($5,000), but it may not be worth it if my tax bill goes up 50%.

Answer 1

No! That's what Prop 13 mandated. Once your home is given an assessed value by the county assessor (which does not necessarily need to be the purchase price, by the way), then it will not be reassessed again until you sell it.