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7.3.B. - Page 34 <br /> over and above general benefits conferred on a real property located in the district or to the <br /> public at large. <br /> No assessment will be imposed on any parcel that exceeds the reasonable cost of the <br /> proportional special benefits conferred upon that parcel. Only special benefits are assessable <br /> and these benefits must be separated from any general benefits. <br /> Properties are assessed as defined on the San Mateo County Assessor's most current parcel <br /> maps. The preceding methodology is applied to the database of parcels within the CBID. The <br /> process for compiling the property database includes the following steps: <br /> • A report was submitted to the City Manager's office using the data obtained from <br /> the San Mateo County Tax Assessors office. <br /> • A list of properties to be included within the Downtown Redwood City CBID is <br /> provided in Section 7. <br /> • A property verification form was sent out to each and every property owner based <br /> upon the data collected by New City America. Property owners were asked to verify <br /> the data that had been collected on their parcel(s). <br /> The Calculation of Assessment for each parcel in the Downtown Redwood City CBID is as <br /> follows: <br /> Parcel Assessment — Benefit Zone 1 <br /> The annual assessment method for all parcels and ground floor commercial condominiums is: <br /> Total Street Frontage X $ 9.50 per linear foot <br /> Total Lot Square Footage X $0.038170 per square foot <br /> Total Building Square footage X $0.1094 per square foot <br /> Equals <br /> TOTAL PARCEL ASSESSMENT <br /> Parcel Assessment — Benefit Zone 2 <br /> The annual assessment method for all parcels and ground floor commercial condominiums is: <br /> Total Street Frontage X $ 9.500 per linear foot <br /> Total Lot Square Footage X $0.038170 per square foot <br /> 26 <br />