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Ohio Supreme Court Deals Blow to Sales Designed to Take Advantage of a Property Tax Loophole
On Thursday, the Ohio Supreme Court ruled that evidence of a commercial real estate transaction depends on the intent of the parties and the building transferred, not the structure of the sale. The court invalidated the “drop LLC” sale of 4121 Palmer Park Circle East, which would have deprived public coffers of about $273,000 a…
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How Much are you Overpaying in Property Tax?
Commercial Property Sales Loophole Costs Small Business Owners Thousands This investigation made possible via a grant from the Pulitzer Center for Crisis Reporting. By Lucia Walinchus, Lukas Udstuen, Samantha Raudins, Ashton Nichols, and Chen Chang When Palmer Square, LLC recently wanted to sell their apartment building at 4121 Palmer Park Circle East in Columbus, they…
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