If I change a base image, do I need to rebuild images that are "FROM" it?

Lets say I have an image called “base” and another image called “app” that is FROM base. If I make changes to base and rebuild it, do I need to also rebuild the “app” image?

yes.

if you use docker history IMAGE, you’ll see the list of layers that its made up of are lined by the hash - updating ‘base’ tags a different hash with a name.