By Benjamin Osgood - February 17, 2020
Why the sale of a building can be expensive for the tenants
California’s Proposition 13 provides a statutory limit on annual increases to the assessed value of a property. Basically, the state general levy tax rate is limited to 1.0% of the property’s value and cannot increase more than 2.0% per year, unless the building is sold, more than 50% is...
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