real estate taxes wikipedia

California Proposition 13?

I’m Italian and I thought I’d be able to decipher the English Wikipedia page about the California Proposition 13. While I had no problem going through the article, I must confess I’m more confused now that I was before I started. Can you please tell me in few words what it consists of? Please don’t copy the content of some Internet article because chances are I already read it, I spent a whole afternoon on Google but still, I can’t understand what that darn proposition is all about. Tax reduction on real estates? Can you elaborate a little bit?
Thanks a lot in advance.

Prop 13 makes it difficult for the government to raise your property taxes. When you buy a home the taxes are set at 1% of the cash value, but from then on- even if your home appreciates 10% a year, they can not raise your taxes more than 2% per year. This keeps old people from losing their houses when the neighborhood suddenly becomes popular and the prices skyrocket. Government used to raise the peoples taxes following the price surges where people could no longer afford to live in their house.

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