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Podcast: The Real Estate Espresso Podcast
Episode: Hidden Property Tax Triggers
Description: Last week we talked about property taxes being reset when land changes hands. That is true, but it is not the whole story. One of our listeners, Steve related a personal story which Iām going to share here. He writes:Your property tax episode struck home.Ā My family owned what started as landfill since 1969 in California.Ā In the late 90ās it was full and a race track built on it. Ā The track builders signed a 25 year ground lease with extensions.Ā Since the lease was this long it was deemed an effective sale.Ā Taxes went from 15k/ year to o...