The supposed purpose of this tax on expensive properties—funding homeless programs—is dubious at best considering the insane amounts of money that Californian cities funnel towards them with no real improvement in the crisis. The reality is we need to treat the visibly homeless (i.e., drug addicted, mentally ill) which would require bringing back mental institutions. But that seems politically unviable.

Regardless, I’m always happy to tax the truly wealthy more.

Surely they can just "sell" their mansion to a holding company, currently owned by them, and at a later date just sell the corp. to the next homeowner?