Is a partnership-owned LLC subject to a documentary transfer tax for a change in ownership of property it holds when more than 50% of the interests in the partnership are transferred?

Facts: A partnership formed by a family trust establishes an LLC, naming the partnership as its sole member, to hold title to a property. The trust transfers all ownership interests in the partnership to various subtrusts and, from the subtrusts, conveys 90% of the partnership interests to separate trusts held by different trustees. Thereafter, the…

May a request to transfer the base year value of a property taken by eminent domain to a replacement property be granted outside the state’s time limitation?

Facts: An owner’s property is taken by eminent domain. Three years later, the owner purchases a replacement property and pays property taxes based on the current fair market value of the property. More than four years after the first property was taken by eminent domain, the owner files a claim with the county to have…