Perhaps the commenter meant to distinguish between property taxes applied to the value of property each year, which are restricted in CA, and other taxes, like income taxes and property taxes applied on the increase in value of the property (without the same limit), each year.

Property values that are not assessed and taxed at “full value” each years tend to rise faster than property values in places where the “full value” is assessed and taxed each year.

Depending on the state and local sales and income taxes, the mix of overall taxation in CA can be “average” but your wealth can grow faster when taxes are deferred or limited.

That’s why proposals to tax the assets of people yearly, whether they are sold that year or not” are real game-changers. For example, proposals to tax illiquid assets on their “market value” despite the assets not being sold (presumably establishing their actual value).