Proposition 13 sets the assessed value of properties at the time of purchase (known as an acquisition value system), with a possible 2% annual assessment increase. As a result, properties of equal value can have a great amount of variation in their assessed value, even if they are next to each other.  The disparity grows when property prices appreciate by more than 2% a year. The Case-Shiller housing index shows prices in Los Angeles , San Diego , and San Francisco appreciated 170% from 1987 (the start of available data) to 2012 while the 2% cap only allowed a 67% increase in taxes on homes that were not sold during this 26-year period. 
Mormon Church to spend more than $ billion on a shopping mall in SLC. Three years ago the cost was $ billion. More money is being spent on this mall and related development than given in total charitable aid in the last 30 years! Is this a church or a corporation ? Donations to the Mormon church are not helping the poor. Updates: $38 million to divert City Creek to flow through the mall plus treat the water. A comparison to other large building projects. Mormon403 Parts A , B , C . D . and E .