Howard Jarvis, the father of Proposition 13, spent an hour in Arcadia, knocking down the "straw man" arguments he said were being put up against the property tax initiative. Prop. 13 would reduce property taxes in California to 1 percent of what market value was in 1975-1976, plus whatever is necessary to pay off current bonded indebtedness. A 2 percent annual inflation rate is written into the constitutional amendment.