Wealthy San Francisco residents lose private street over tax bill

Wealthy San Francisco residents lose private street over tax bill

Residents of an illustrious San Francisco private street where homes sell for millions have had the street itself bought from under them.

Presidio Terrace is now owned by two investors, Tina Lam and Michael Cheng, who snapped up the private road for about $90,000 (£69,039, €76,203).

The street - parking, pathways and all - was sold by the city over a $14-a-year tax which went unpaid for decades.

Wealthy residents say they knew nothing about the sale until it was done.
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