[tankerdude]

You don’t own a home or have depreciated a business property have you? You can depreciate the value of a building over time but not the property itself.

Land value is still land value and will never be “depreciated”.

What happens is that folks like Disney in Anaheim as well as it seems, Apple owned the land for a long time. So Disney’s real estate tax bill is near nothing for Disneyland.

That’s the pain of prop 13. Should have been modified for sure!