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A leasehold is a personal property asset.
Appeals are made to property tax boards then sometimes a lawsuit in the courts -- we live in a litigious society.
Large industrial plant owners are notorious for this -- they bully paying less taxes for reason that they are providing good paying jobs in the community and supporting others real estate property values.
Plant and equipment (personal property accelerated depreciation or useful live valuation) are always at issue -- this goes to the argument of continued plant viability and lowered taxes so that new equipment can be easier bought -- it's a hidden taxpayer subsidy paid.
The smaller property owners that can't afford an army of 'suits' shoulder the burden.
The taxes on your home are higher because the larger industrial property owners get these tax breaks and abatements -- who did you think pays?
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