Los Angeles, CA — LA Times business reporter Michael Hiltzik reports that a recent study by the state’s Legislative Analyst’s Office confirms what many have long known — that Prop 13 has disproportionately benefitted the wealthy and landowners at the expense of renters and the middle-class. The study reports that the vast majority of Prop 13 benefits go to those with incomes over $120,000/year by locking in property tax assessments at 1978 levels.