Selling a property from one LLC to another LLC

[Megan Meconi]

My partner and I have an LLC in Ohio, and we own a commercial property that we rent to tenants. We have a mortgage on the property, which will be paid off in about 6 months. We bought the property during a peak in the market, and because of the value at the time of purchase, our city taxes are astronomical. We lose money on the building every year. We have tried to fight this with the city to no avail - they refuse to lower the taxable value of the property. So I'm wondering, once we are free and clear of the mortgage and own the property outright, can we set up a new LLC and sell the building from one LLC to the other (being owners of both LLCs) for a lower purchase price in order to reduce the city taxes that we are charged? Thank you!