10B Action 2009 1221 - Laserfiche WebLink

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The Controller has made exception to this general practice in at least one instance where a major shopping center in the Joint Project Area received substantial retroactive assessment reductions over several years. In that case the Controller notified the Agency of its intention to collect from the Agency the taxes repaid to the property owner and worked with Agency staff to establish the amount and method of recovery, spread out over several years. The recovered taxes were split between the Agency and the County Economic Development Agency using a modification of the revenue sharing formula in effect between the two entities. In addition, the Agency acted to remove the shopping center from the Joint Project Area in order to have the valuation removed from the base year valuation; the removal and the corresponding new base year valuation took effect with the 2002-03 roll year. Appeals in the Project Areas. Based on information provided by the County Assessment Appeals Board and shown in the table below, there have been 733 appeals filed in the Project Areas since 2000-01. Of these, 589 have been resolved resulting in valuation reductions of $151 million. The largest appeal during that period was filed on the Bay Fair Mall shopping center in 2000-01 (the property owner had filed appeals for prior years as well); that appeal resulted in a valuation reduction and refund of taxes that, in an exception to the County Controller's general practice of not charging appeal-related refunds back to redevelopment agencies, was deducted from the Agency's tax increment over several years and shared with the County's Economic Development Agency, with the last deduction occurring in 2005-06. The Bay Fair Mall property was removed from the Joint Project Area in 2001. -36-