In an effort to get a partial property tax exemption for faculty homeowners, Stanford University is suing Santa Clara County arguing that the subdivision of these homes on campus is a “college interest” and should lower the homeowner’s tax bill.
At the center of the lawsuit are Stanford’s roughly 900 homes in the faculty subdivision — 691 of which are single-family homes and 222 are condos — particularly one home at 828 Cedro Way. The university contends homeowners overpaid taxes when the property changed hands in 2018. The reassessment has created “unexpected and substantial financial difficulty for some faculty homeowners,” the statement said.
Because homeowners have an agreement to lease the land from Stanford, the university says in its lawsuit that the value of the property should be split between the “faculty interest” and “college interest.” It argues that the faculty interest is “the more valuable interest in the property” at about 75% of the 2021-2022 property tax bill and that “only the remaining 25% is directly attributable to the exempt College Interest,” making it tax exempt.
let me get this right, the top .01% of Santa Clara filed a lawsuit against the remaining citizens to ensure that they would pay for their housing when the majority of San Jose cannot even pay for their own? WHAT THE ACTUAL FUCK
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