If I buy a LLC that owns property, does the tax basis change?

[Stephan Kraus]

Hi BP experts, 

Im looking to purchase a multifamily property that is owned by an LLC. For various reasons im considering buying the Business VS. buying the property, now my question is: Does the property tax assessment change, if the state (California) is only allowed to reassess if the owner changes or I do a large remodel?

The new assessment would almost triple the current property tax, which I am fine with since I also get to depreciate the higher value, I assume I can't have one without the other? (or can I - keep old prop. tax assessment AND claim depreciation on the purchase price?)

Help me clear my brain knots please! :D