Like CAR, I don’t believe that multifamily and commercial owners (including corporations and REITs) should be able to transfer title (usually in straw name only) whilst continuing to take advantage of humongous property tax breaks stemming from ONE owner’s ancestor’s original assessment.
A review of multifamily and commercial parcels’ tax bills in SF (District by District) would be a very laborious but highly instructive exercise in seeing exactly how this is done and exactly how much money these (mostly slumlords) are pocketing in property tax savings every year whilst charging their tenants exorbitant rents (where allowable by law).
