Also, from what I see at https://www.californiataxdata.com/pdf/Prop13.pdf prop 13 does *NOT* seem to address inheritance. On the federal side, if you inherit a rental property, then you get a step-up in *COST* basis to the FMV of the property on the date the prior owner passed away. Prop 13 doesn't seem to address this. (Not addressing Prop 19 at this time, but I'm not ignoring it.)
From what I read Proposition 13 replaced the practice of annually reassessing property at market value with a system based on cost at acquisition. If you inherited the property, then you have "no" cost of acquisition. Therefore I assume you also "inherit" the original property tax basis. Is that assumption correct? I suspect not. Would be helpful if you could refer me to a more complete document on Prop 13.
