Last login: Thursday, February 25, 2010
I recall that the key message of Prop 13 supporters during the 1978 campaign was that Prop 13 would help seniors stay in their homes; protect them from large annual increased in property taxes each year. I don't recall hearing about businesses benefiting from Prop 13. In fact, I learned just a few years ago that Prop 13 applies to businesses. I've since heard that when businesses are sold, lots of paperwork is is often created to assure that the current Prop 13 basis stays with the property; i.e. that the transaction is not recorded as a new owner in the county's property roles. If so, this type of transaction should be stopped.
February 25, 2010 at 7:38 a.m.
( permalink | suggest removal )