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City, California (the "Property "; also designated by Assessor's Parcel No. <br />V APN - - ] 05- 325 -050) came before the Board of Equalization of Redwood City <br />General Improvement District No. 1 -64 ( "GID 1 -64 ") sitting as the Assessment <br />Appeals Board (the "Board ") on November 5, 1990. Evidence having been <br />submitted by Appellants, who appeared in person, and by the Director of <br />Finance of the City of Redwood City, as Assessor for GID 1 -64, the Board <br />having heard testimony and arguments of the parties, and having considered <br />the documents on file submitted by the Appellants and the Assessor, and <br />having fully considered the matter, the Board finds and concludes as <br />follows: <br />1. The Assessor originally established the following full cash value <br />for the Property: <br />Land $135,000 <br />Improvements 360,000 <br />TOTAL: 495,000 <br />2. Appellants' opinion of the full cash value of the Property is: <br />Land $210,000 <br />Improvements 215,000 <br />TOTAL: 425,000 <br />3. The property was purchased by Appellants in January, 1990 for the <br />price of $450,000. The purchase price was determined prior to construction <br />of the house, pursuant to bid through auction. <br />4. The value of the Property is affected negatively by the presence of <br />certain public utility facilities located on, and in the vicinity of, the <br />property, specifically, an above - the - ground witch box owned by Pacific Gas <br />and Electric Company (PG &E), additional PG &E utility boxes and a television <br />cable utility box, all of which are installed in two separate visible <br />excavations in the yard. Further, the value of the property is affected by <br />a sewerline easement traversing a portion thereof. <br />5. The Assessor's recommended revised full cash value is: <br />Land $121,500 <br />Improvements 324,000 <br />TOTAL: 445,500 <br />6. Appellants concurred with the revised valuation. <br />CONCLUSION <br />In consideration of the foregoing, the application for assessment adjustment <br />should be, and hereby is, granted and the full cash value is hereby <br />determined to the following: <br />MINUTE BOOK NO. 50 <br />Page No.121 <br />Reg. Mtg. Minutes <br />November 19, 1990 <br />Page 2 <br />