These are the sixteen newly transferred properties. Two of them--12 North Second Street and 251-253 Union Street--have never appeared in any previous Gossips inventory of Galvan holdings.
113 Union Street
Friday, January 11, 2013
Galvan Watch
Gossips learned yesterday that the deeds for sixteen properties have recently been transferred from Galvan Partners, LLC, to the not-for-profit Galvan Initiatives Foundation. The Galvan Foundation now owns twenty-eight properties, with a total assessed value of more than $5 million. It should be noted that ownership by a not-for-profit does not automatically make a property tax exempt.
These are the sixteen newly transferred properties. Two of them--12 North Second Street and 251-253 Union Street--have never appeared in any previous Gossips inventory of Galvan holdings.
9 Union Street
21-23 Union Street
25 Union Street
113 Union Street
12 North Second Street
20 South First Street and 24 South First Street
102 Union Street and 104 Union Street
251-253 Union Street
209-211 Union Street
34-36 South Second Street
238 Allen Street
250-252 Allen Street
68 South Second Street
346 Warren Street
These are the sixteen newly transferred properties. Two of them--12 North Second Street and 251-253 Union Street--have never appeared in any previous Gossips inventory of Galvan holdings.
113 Union Street
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I would have to assume this is estate planning designed to reduce the size of Henry's taxable estate. The IRS will need to take a look at this.
ReplyDeleteOr it is a precursor to Galvan Initiatives seeking to remove all of these properties from the tax roll.
ReplyDelete