Yep: "Nevertheless, buyers of commercial property have found a way to avoid this reassessment. Instead of buying the property, they buy the legal entity that o

Yep: "Nevertheless, buyers of commercial property have found a way to avoid this reassessment. Instead of buying the property, they buy the legal entity that owns the property. Under rules set by the Board of Equalization, a change in ownership of such an entity doesn't trigger a new assessment of its properties unless more than 50% of the entity is acquired by a single person or business." "[Michael] Dell agreed to buy the entity that owns the Fairmont Miramar for $200 million in 2006. But after the deal was struck, Dell rewrote the contract, bringing in his wife and two investment advisors as partners. Because none of them held more than a 49% interest in the entity that owned the hotel, the hotel kept its assessment from 1999" http://www.latimes.com/opinion/opinion-la/la-ol-michael-dell-proposition-13-change-20140514-story.html http://www.latimes.com/opinion/opinion-la/la-ol-michael-dell...