During a time of budget deficits, collecting property tax revenue would certainly help. The LA Times reports that certain Los Angeles tax assessors may have given sweet deals to their friends.
"Among the properties that have caught the attention of investigators is the former Old Spaghetti Factory restaurant site on Sunset Boulevard. The developers who bought the land to build a condo and retail complex hired Salari to drive down the assessed value of the property while they won zoning approval for a 22-story tower. Salari succeeded; Noguez's staff now lists the fair market value of the land at $7.8 million. The property sold in August, however, for $21 million."
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Posted by: Account Deleted | 07/10/2012 at 06:32 PM
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