Hidden Property Tax Triggers

<p>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 I’m going to share here. He writes:</p><p>Your property tax episode struck home. My family owned what started as landfill since 1969 in California. In the late 90’s it was full and a race track built on it. The track builders signed a 25 year ground lease with …