The state of California is overcharging homeowners by levying taxes without taking into account the adjustment in property values that occurs when oh, say, a major mortgage crisis causes home values to tank for months on end. What to do? A San Francisco law firm has filed a claim for $2.6 billion in tax readjustments based on an aggregate decline in worth of more than 2 million single-family homes purchased since 2004-2007. Guess what we're not holding? Our breath. [SF Gate]
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