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7.1.A. - Page 150
<br /> Schedule 5
<br /> CITY OF REDWOOD CITY, CALIFORNIA
<br /> ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
<br /> Last Ten Fiscal Years
<br /> Real Property Personal Property
<br /> Less: Total Taxable % Increase/ Effective
<br /> Fiscal State Locally Locally Tax Exempt Assessed (Decrease) Direct Tax
<br /> Year Assessed Assessed Assessed Property Value Over Prior Year Rate*
<br /> $ $ $ $ $ % %
<br /> 2005 11,069,324 10,978,316,191 577,189,796 358,123,641 11,208,451,670 3.79 0.2429
<br /> 2006 4,454,190 11,577,635,719 527,383,171 365,930,032 11,743,543,048 4.77 0.2389
<br /> 2007 4,342,506 12,521,555,794 579,933,721 441,803,730 12,664,028,291 7.84 0.2420
<br /> 2008 5,003,014 13,671,991,606 586,031,204 541,024,340 13,722,001,484 8.35 0.2439
<br /> 2009 5,003,014 14,734,164,661 676,178,812 642,703,087 14,772,643,400 7.66 0.2350
<br /> 2010 5,003,014 14,885,525,123 757,610,502 664,018,869 14,984,119,770 1.43 0.2397
<br /> 2011 5,003,014 14,673,871,469 770,364,641 704,940,601 14,744,298,523 (1.60) 0.2373
<br /> 2012 1,466,946 14,712,120,582 674,899,038 646,459,575 14,742,026,991 (0.02) 0.2030
<br /> 2013 1,466,946 15,154,966,352 763,901,657 766,118,316 15,154,216,639 2.80 0.2101
<br /> 2014 1,466,946 16,187,528,735 785,538,767 726,787,642 16,247,746,806 7.22 0.1921
<br /> Note: In 1978 the voters of the State of California passed Proposition 13 which limited basic property tax to a total maximum
<br /> rate of 1% based upon the assessed value of the property being taxed. Each year, the assessed value of property may be increased
<br /> by an "inflation factor" (limited to a maximum of 2 %). With few exceptions, property is only reassessed at the time that it is sold
<br /> to a new owner. At that point, the new assessed value is the purchase price. The estimated market value of taxable property is
<br /> not available.
<br /> The amount shown above includes assessed value data for both the City and the Redevelopment Agency.
<br /> * The direct tax rate calculation does not include the property tax amount that is shifted from local agencies by the State of California
<br /> to the Educational Revenue Augmentation Fund used to support K -14 education.
<br /> Source: San Mateo County Assessor's records
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