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<br />Item No.1 (continued) <br /> <br />Terry Larson, American Appraisal Associates, referred to the subject report <br />from his Company and used the following slides to illustrate his remarks: 1) <br />Major Area Map of Redwood Shores, South Shores, Redwood Peninsula and Bair <br />Island; 2) Redwood Shores, the developed area, with overlays to indicate <br />commerica1 and residential development, noting the increase of values of some <br />commerci all and. <br /> <br />Discussion followed and Mr. Tasseff and Mr. Larson replied to questions and <br />commented concerning the use of fair market value as the basis for appraising <br />Heron Court (see page 13 of Appra is a 1 Report); whether the government <br />~strictions which apply to the property should be taken into consideration <br />in evaluating it; and whether all residential property should not be evaluated <br />in the same manner. <br /> <br />City Attorney Schricker advised that Board policy with regarding to appraisal <br />procedure is important and must be consistent with a rational basis for all <br />properties. <br /> <br />CONSENSUS: Following discussion the Board confirmed that it is Board policy <br />to appraise Heron Court on the basis of fair market value the same as other <br />properties in the District. <br /> <br />Mr. Tasseff noted that the tax rate is lower again this year to the extent <br />that even if the appraised value of some properties has been increased the <br />amount of tax is reduced over previous years. <br /> <br />Mr. Larson reported that Red\\()od Shore s Inc. has requested discuss ion <br />regarding the appraisals of property in Redwood Peninsula, east of Shell <br />Parkway and such discuss ion will take place soon. <br /> <br />M/S: Bury/Rhodes to declare the assessment roll for GID No. 1-64 equalized as <br />submi tted. <br /> <br />Carried unanimously by voice vote. <br /> <br />MINUTE ORDER NO. 85-100 <br /> <br />------------------------------------------------------------------------------ <br /> <br />ADJOO RNMENT <br /> <br />There being no further business, the meeting of the Board of Equalization was <br />adjourned at 11:30 a.m. <br /> <br />JACQUELINE C. HILDEBRAND <br />City Clerk <br /> <br />Board of Equalization <br />GID 1-64 <br />7/15/85 <br />Page 2 <br /> <br />MINUTE BOOK NO. 45 <br />Page No. 506 <br />