"Bruce L. Bergman (munged human readable)" wrote:

Because the Assessors Office valued the commercial property too high
considering the prices at the peak of the real estate market. And the
only way to prove that the assessment is too high was for Joe to sell
the building - then they place the new valuation at the actual sale
price which dropped Iggy's property tax bill. For a while...

But don't worry, Iggy - You don't have Proposition 13, so the State
Assessor is free to crank the valuation back up almost at their whim
when they decide they're going broke again, and the only way out is to
sell it yourself. And when it happens, you might want to look for a
new shop in a lower tax state.


I wonder what this is appraised at:
http://www.youtube.com/watch?v=zwQtPwEG0nQ


--
You can't have a sense of humor, if you have no sense.