Quote:
Originally Posted by OMG!WTF!
I actually totally misunderstood what the owner was saying on the radio. Until 2014 the city assessed business tax based on the rental value of the property it occupied. In 2014 they switched that over to a land value approach for businesses that owned their property. So several business/property owners got totally hosed in the downtown core...Escoba wasn't the only one...Diversified Staffing on 5th was another one. So instead of paying based on what other businesses would be charged to operate in their space, owner/occupiers are charged the same way as forty story high rises. Diversified's tax bill tripled based on two sales in the downtown area. Seems like a valid complaint to me.
The restaurants fail all the time argument is sooo ridiculous anyway but especially so in this circumstance.
|
So if he sets up a real estate company that owns the building and leases it to the restaurant would he be fine?