Government efforts to protect you

California bill seeks to close property tax loopholes link
- Democrats and unions say many corporations are using loopholes when they buy and sell properties to avoid having them reassessed and their property taxes go up.
- "The system is an incredible mess," said the association's executive director, Lenny Goldberg. "People are constantly changing their share of ownerships, figuring out ways to avoid reassessment."
- While many homeowners are taxed at a rate of $5 to $6 per square foot of land, corporations pay pennies per square foot, said Assemblyman Pedro Nava, D-Santa Barbara.

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