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9. PUBLIC HEARING —BOARD OF EQUALIZATION (510) A. Submittal of Equalized General Improvement District 1 -64 Assessment Roll Financial Services Accountant Greenhorn stated that the Board is being asked to accept the assessed values for GID 1 -64. The values are used to distribute the annual amount required for the debt service for the district. The property owners of the district have been informed of the assessed value of their property and their right to appeal these assessments. Any appeals filed by September 15 will be heard by the Board on December 8, 2003. Overall, the values of the district increased 3.41% from January 1, 2002 with commercial property decreasing 3.7% and residential increasing 8.09 %. The total assessed value for the district now stands at $1 billion. Council Member Jordan stated she had received a call from a resident of the district who had contested the assessed valuation of his property last year. She asked for clarification on the process and asked whether the assessment needs to be protested every year. Financial Services Manager Freeman stated that the appraisals and assessments are reset each year. City Manager Everett stated that the response will be made aside from the meeting to both Council Member Jordan and the property owner involved. Mayor Claire opened the public hearing. Public Comment: John Murphy, Redwood City resident and homeowner in GID 1 -64, stated he has spoken to Council every year over the last 30 years. He thanked the Financial Services Department for furnishing the book for reference at the Redwood Shores library and for Council Members' consideration. He asked that the books be relocated to the library after Council has read the document. He stated that although, he may not agree with each particular assessment, all are treated the same and that is the action the Board is asked to take. He further stated that there is a potential of 10,000 voters in the GID 1 -64 district. M/S Ira /Pierce to accept the equalized assessment roll for the General Improvement District 1 -64 for the 2003 -04 fiscal year. The motion passed by a unanimous voice vote. BOE MINUTE ORDER 03 -002 M/S Ira /Hartnett to adjourn the Board of Equalization meeting. The motion passed by a unanimous voice vote. 10. STAFF REPORTS — CITY COUNCIL JOINT CITY COUNCIL /REDEVELOPMENT AGENCY JULY 14, 2003 AND BOARD OF EQUALIZATION MINUTES PAGE 8 MINUTES Book No. 59 Page No. 511