Private San Francisco Street Sells for $90k Due to Tax Debt

Private street sold because homeowners association didn’t pay its taxes

Well, this is a new one. Imagine living on one of the most expensive and exclusive streets in all of America only to find out someone bought your expensive and exclusive street, for $90,000.That’s what happened to the residents of San Francisco’s Presidio Terrace Street after the Presidio Homeowners Association didn’t pay the $994 they owed in taxes on the street. Yup, their street went to the auction block for owing just $994 and was bought for 90 times that amount.

homes on a street with palm trees

Can someone even buy a street? Well, it depends on the street. There are 181 private streets in San Francisco, and taxes must be paid on all of them; if not, they can be auctioned off to recoup losses.

So, what happened that allowed one of the most expensive streets in America to be auctioned off for tens of thousands for owing a mere $994?

The association and its attorney blame a wrong address for misdirecting $14 (yes, just fourteen dollars) being sent an accountant who hasn’t worked for the association since the ‘80s.

They have filed a claim and plan to fight to win back the street for their residents. In the meantime, this teaches us all a valuable lesson about the importance of making sure you are paying all of your taxes and how important the information you put down is (addresses, names, etc.).

If you are worried about bills falling through the cracks, reach out to Boxelder Consulting for help. You can call us directly at 888-573-5775 or fill out a “contact us” form on this website. You (or your homeowners association) will be thankful later.

Original Article

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About the Author

A company founder standing by Colorado's Front Range

Tom Conradt

Co-Founder, IRS Collections Defense Attorney

Tom Conradt is the co-founder of Boxelder Consulting & Tax Relief, and has been practicing IRS Collections defense law for the past ten years. Graduating from the University of North Carolina at Chapel Hill, Tom is the lead IRS Collections Defense Attorney and heads the tax resolution department. Tom’s favorite part about working at Boxelder Consulting is hearing about the relief that clients experience after they sign up and start seeing immediate results on their case. Tom enjoys all the outdoor activities Colorado has to offer, including skiing, hiking and climbing. He is also looking forward to the return of indoor pickup basketball.

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