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Article: Shuwa Investments tax case still hovers in limbo despite state Supreme Court ruling.
- Article from:
- Los Angeles Business Journal
- Article date:
- September 17, 1990
- Author:
CopyrightCOPYRIGHT 1990 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Shuwa Investments tax case still hovers in limbo despite state Supreme Court ruling
Full reappraisal is voided on property bought by plaintiff
Real estate investors were given mixed signals by a recent California Supreme Court action that allows a Sherman Oaks widow to escape full reappraisal on property she purchased.
Shuwa Investments Corp. is one high-profile landlord that could have benefited from a definitive ruling. Shuwa has claimed in another lawsuit it did not deserve full reappraisal -- and the resulting higher property-tax bill -- after purchasing the 51-story Arco Plaza towers in downtown Los Angeles.
The state Supreme ...