Proposition 13 again!
Follow @evolve_ca to change this.https://twitter.com/rolandlisf/status/1126245387717582853 …
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The <50% exemption from transfer taxes seems pretty standard. Same rule in NYC https://www.nytimes.com/2012/06/20/realestate/commercial/manhattan-landlords-shift-to-buying-partial-stakes-in-properties.html … Shielding the building from reassessment is related to Prop 13. (In NYC, properties are reassessed regularly – though there are downsides there https://www.crainsnewyork.com/article/20170410/REAL_ESTATE/170409894/a-record-number-of-new-yorkers-are-contesting-their-property-tax-bill …)pic.twitter.com/L2iszT9iTH
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Note Park Tower will be re-assessed for the current fiscal year because it's new construction. So will Salesforce Tower and 181 Fremont. Should get the numbers in July.
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Neighborhood character
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