Laserfiche WebLink
359 <br /> increase of District taxes on commercial property since 1971, and <br /> the effect of the tax loss resulting from the many gifts of property <br /> demanded by various government aoencies concerned with the environ- <br /> ment <br /> In response to questions from City Attorney Schricker, Mr. Yuen and <br /> Mr. F�rei�ce aovised that the f�at 20°6 ;ncrease on all commercial <br /> property did not affect the relationship of values of those properties <br /> which have already been valued at different amounts depending upon <br /> their state of preparedness for development <br /> Mr Ference observed that along with some Council members he has <br /> recommended a complete physical evaluation of all properties in <br /> GID No. 1-64. He advised that it would be unethical for him to <br /> assess on the basis of any predetermined ratio as to the propor- <br /> tionate share of the District tax burden which would be paid by <br /> residential or commercial property He noted that a physical <br /> evaluation of properties could result in an increased burden on <br /> residential property, if it is determined to have greater value. <br /> �4ayor Leipzig invited anyone present who wished to speak to do so <br /> No one wished to speak <br /> MOTION Councilman Bury moved, seconded by Councilman Barrett, <br /> to close the public hearing. <br /> The motion carried unanimously by voice vote. <br /> The public hearing was ciosed at 8 32 p m. <br /> MOTION Councilman Bury moved, seconded by Councilman Rhodes, to <br /> � declare the Assessme�t Roll for General Improvement District No <br /> 1-64 equalized as corrected <br /> (NOTE Correction per memo of Director of Finance, August 5, <br /> - 1977 is as follows <br /> 095-161-05 <br /> Valuation of land for this property has increased 20% <br /> over 1977-7� using an incorrect base valuation <br /> Property value should be as foilows: <br /> Land only• <br /> Land 7 583 acres at 66,000 per acre $ 500,478 <br /> Waterway 1 830 acres at 9,000 per acre 16,470 <br /> Total value 516,948 <br /> 25% 129,237 <br /> Current Assessed Value 155,000 <br /> Reduct�on due to Clerical Error $ 25,763 <br /> 095-121-110 <br /> Improvements had through error been included on this <br /> property and had not been removed by July 1, 1977 <br /> There were no improvements on this property as of <br /> ' March 1, 1977 <br /> Total Reduction $ 17,000 <br /> Total ad,7ustments due to clerical error <br /> Land 25,763 <br /> Improvements 17,000 <br /> Total Reduction $ 42,763 <br /> -3- Bd /Equal <br /> 8/S/77 <br /> ...._...,. � _ <br />