Assessor Chu’ Statement on AT&T Ballpark Value

***PRESS STATEMENT***

ASSESSOR-RECORDER CARMEN CHU’ STATEMENT

ON AT&T BALLPARK VALUE

SAN FRANCISCO -- Last Thursday, the Assessment Appeals Board announced their decision on the assessed value of AT&T Ballpark for 2011-2014.  The decision affirms close to $5.5 million in additional property tax revenue for the City and County of San Francisco from 2011-2014.

Assessor-Recorder Carmen Chu issued the following statement:

“We appreciate the Assessment Appeal Board’s work.  Ultimately, their decision validated our strong belief that the assessed value going forward for AT&T Ballpark should be increased beyond the previous settlement agreement.  This translates to meaningful dollars being collected to support important public services like education, parks and libraries, public safety and family support services.  As the Assessment Appeals Board’s Findings of Fact become available, our Office will be reviewing and making decisions on our next steps.”

The Assessment Appeals Board’s assessed value decision for AT&T Ballpark are:

2011: $340,000,000

2012: $355,000,000

2013: $355,000,000

2014: $365,000,000

The Assessment Appeals Board is an independent board appointed by the Board of Supervisors to conduct fair and impartial hearings when there are disputes on assessed values between the Office of the Assessor-Recorder and property owners.

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