The sale of a posh Presidio streets and its surrounding sidewalks is legal even though the local tax assessor had been sending tax bills to the wrong address for years, a new report from tax authorities says. Investors Tina Lam and Michael Cheng, bought the street for $90,000 in 2015 at auction, Cheng and Lam were able to buy the street after its residents didn't pay a $14 annual tax for 30 years, an oversight that was reportedly due to the city sending the tax bill to an incorrect address.
Tax Chief Says He Did Everything By The Book In Sale Of Presidio Terrace Street To Investors
Riley McDermid, Biz Journals
Tue, 11/21/2017 - 8:12am
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