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Country Clubs Undertaxed?

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News outlet Spot. us takes a look at LA country clubs and their property taxes--they pay at the capped levels dictated by Prop 13, despite the prop being "so obliquely worded as to be meaningless when applied to commercial properties and transactions." Los Angeles County Assessor Rick Auerbach says he's not sure whether the clubs should have that privilege and has referred the matter to the State Board of Equalization. A sidebar imagines the piles of money that developing country club land might bring. LA Observed also picks up the post, and the blog makes it seem like this is a long-debated issue. [Spot.us, image via]