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8.B. - Page 49
<br /> assessed valuation of any particular Taxable Parcel presented in this Official Statement may
<br /> not necessarily be representative of the actual market value of that parcel.
<br /> Historical Assessed Values. The following Table 4 sets forth the total San Mateo
<br /> County land and structure assessed values for the Taxable Parcels in the District for the
<br /> current and each of the last eleven fiscal years.
<br /> Table 4
<br /> Historical Assessed Values of Taxable Parcels«�
<br /> Total Assessed
<br /> Number of Total Assessed Value of Total
<br /> Fiscal Year Taxable Parcels Value of Land Structures Assessed Value
<br /> 2001/02 55 $219,644,371 $539,114,037 $ 758,758,408
<br /> 2002/03 55 240,041,793 642,183,380 882,225,173
<br /> 2003/04 55 231,002,959 629,347,619 860,350,578
<br /> 2004/05 55 225,506,947 602,893,430 828,400,377
<br /> 2005/06 55 234,959,206 627,529,786 862,488,992
<br /> 2006/07 55 308,897,702 670,050,202 978,947,904
<br /> 2007/08 55 337,441,526 712,843,443 1,050,284,969
<br /> 2008/09 55 399,899,505 745,007,987 1,144,907,492
<br /> 2009/10 55 409,869,809 710,881,080 1,120,750,889
<br /> 2010/11 55 484,415,433 572,695,292 1,057,110,725
<br /> 20ll/12 55 486,645,305 604,487,288 1,091,132,593
<br /> 2012/13 55 401,878,026 756,285,489 1,158,163,515
<br /> (1) Aggregate San Mateo County Assessed Values for all Taxable Parcels in the District.
<br /> Source: Willdan Financial Services,based on information obtained from County of San Mateo records.
<br /> General Information Regarding Value-to-Burden Ratios. The value-to-burden ratio
<br /> with respect to bonds secured by special taxes will generally vary over the life of those bonds
<br /> as a result of changes in the value of the property that is security for the special taxes and the
<br /> principal amount of the bonds.
<br /> In comparing the aggregate assessed value of the Taxable Parcels within the District
<br /> and the principal amount of the Bonds, it should be noted that an individual Taxable Parcel
<br /> may only be foreclosed upon to pay delinquent installments of the Special Taxes attributable
<br /> to that Taxable Parcel. The principal amount of the Bonds is not allocated pro-rata among the
<br /> Taxable Parcels within the District based on assessed value; rather, the principal amount of the
<br /> Bonds has been allocated based on the allocation of Special Taxes among the Taxable Parcels,
<br /> and the total Special Taxes have been allocated among the Taxable Parcels within the District
<br /> according to the Rate and Method.
<br /> Economic and other factors beyond the property owners' control, such as economic
<br /> recession, deflation of land values, financial difficulty or bankruptcy by one or more property
<br /> owners, or the complete or partial destruction of Taxable Parcels caused by, among other
<br /> possibilities, earthquake, flood, fire or other natural disaster, could cause a reduction in the
<br /> assessed values of the property within the District. See "SPECIAL RISK FACTORS—Property
<br /> Value" and "Bankruptcy Delays."
<br /> Value-to-Burden Ratio Distribution. The following Table 5 sets forth the distribution of
<br /> assessed value-to-burden ratios among the owners of Taxable Parcels based on Fiscal Year
<br /> 2011-2012 assessed values and their estimated share of the principal of the Bonds. For the
<br /> assessed value-to-burden ratio for each Taxable Parcel, see "APPENDIX H—Taxable Parcels
<br /> in the District."
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