summary of december finance committee
DESCRIPTION
Handout provided during Dec Finance Committee Meeting. Explains Atherton's tax situation relative to Prop 13, Prop 8, and increased assessment values.TRANSCRIPT
FROM: ROBERT BARRON III SUBJECT: SUMMARY OF FINANCE COMMITTEE MEETING 12-11-12 On December 11, 2012, Paula Cone of HDL Services presented the Finance Committee with an analysis of the Town’s property taxes. Ms. Cone discussed the 1% share tax distribution and its integration with Proposition 13 (1978). Proposition 13 provides that a property assessment cannot grow beyond 2% each year (with the exception of “catch-up” provisions within Proposition 8). Ms. Cone explored how the calculation of property taxes are determined through Proposition 13, increment value increases in properties, and the property tax dollar breakdown for Atherton. Video of the meeting is available online. The Town’s general levy share per $1.00 of property tax is $0.1056. Ms. Cone went into greater detail when discussing the provisions of Proposition 8 (recapture of temporarily reduced assessed property values to the current Proposition 13 cap levels). Ms. Cone also discussed the distribution of property taxes within Atherton and the revenue sources in our area. Through the 2012/2013 tax roll the Town will receive a 9.03% increase in net taxable assessed value making it the top growth city in San Mateo County. Countywide growth was 3.3%. In dollar terms, from 2011/2012 to 2012/2013 the Town’s net taxable value increased by $575,385,241. This comes from a total of 2,619 parcels in the Town with a total net taxable value of $6,949,217,818 in 2012/2013. Attached are a series of reports provided by HDL Services.
Town of Atherton
2012/13 PROPERTY TAX SUMMARY
THE TOWN OF ATHERTON_________________________________________
The Town of Atherton experienced a net taxable value increase of 9.0% for the 2012/13 tax roll, which was
significantly more than the increase experienced countywide at 3.3%. The assessed value increase between
2011/12 and 2012/13 was $575 million. The change attributed to the 2% Proposition 13 inflation
adjustment was $127 million, which accounted for 22% of all growth experienced in the city.
The largest assessed value increase was reported on a multi-parcel purchase of residential and vacant sites
by 237 Atherton Avenue LLC and 246 Atherton Avenue LLC at the same addresses for $53 million has
translated in a year to year increase $58.5 after the addition of the 2% CPI adjustment and the assignment of
value to each of the 4 parcels in the transaction. The original combined values of these properties were
$1.98 million. Fairview Avenue Holdings LLC purchased their residential property at 83 Fairview Avenue in
April 2011 for $15,840,00 and 383 Associates LLC purchased 383 Walsh Road in 2008 and has
subsequently added new improvement values on site for an increase of $9.4 million.
The largest assessed value decline was reported on a former vacant residential site at 85 Isabella Avenue
that was purchased in 2007 by Brion and Sabrina Applegate and then developed through 2009. The original
value enrolled for this site after the completion of development was $24.8 million which has been appealed
and reduced to $18 million for the current tax year. Unimproved residential property purchased in 2006 for
$9 million is now in bank ownership and is valued at $5.7 million.
% ChangeYear Median PriceSFR Sales
222006 $2,600,000
16 20.19%2007 $3,125,000
76 27.20%2008 $3,975,000
69 -20.00%2009 $3,180,000
96 -1.65%2010 $3,127,500
96 20.70%2011 $3,775,000
59 7.55%2012 $4,060,000
The housing market began to rebound during the first half of 2012, as home buying increased due to low
interest rates and affordable prices. Foreclosures are at their lowest levels in five years. Median prices and
numbers of sale transactions are up statewide. The housing market is poised for recovery but the speed and
magnitude of the recovery will depend on the overall economy. The median sale price of a single family
home in Atherton from January through July 2012 was $4,060,000. This represents a $285,000 (7.5%)
increase in median sale price from 2011.
2012/13 Tax Shift Summary
ERAF I & II
VLFAA (est.)
Triple Flip
$-1,341,697
$57,056
$744,638
Triple Flip True up $16,729
Top 10 Property Taxpayers% of TotalRevenueOwner Use Type
237 ATHERTON AVENUE LLC1. $45,450.69 Residential 0.78%
BITA DARYABARI2. $37,915.86 Residential 0.65%
GEORGE R. ROBERTS TRUST3. $30,285.58 Residential 0.52%
PACIFIC PENINSULA GROUP4. $23,071.25 Residential 0.40%
383 ASSOCIATES LLC5. $22,914.38 Residential 0.40%
JOSEPH S. LACOB TRUST6. $18,130.28 Residential 0.31%
ROBERT THOMAS7. $18,020.16 Residential 0.31%
SHIBUMI LLC8. $16,940.23 Residential 0.29%
CALIFORNIA WATER SERVICE COMPANY9. $16,932.48 Miscellaneous 0.29%
BAGATELLE INVESTORS LLC10. $16,913.77 Residential 0.29%
Top Ten Total $246,574.69 4.25%
909.861.4335 www.hdlcompanies.com
Real Estate Trends
Home SalesHome sales have begun to rebound in many parts of the State. The increased sales are due to less distressed
homes on the market and buyers beginning to purchase in mid and high end areas. Low mortgage rates and
affordable prices are proving attractive for buyers and finally convincing them to reenter the market. The
reported median price of an existing, single family detached home in California during July 2012 was
$281,000. This was an 11.5 percent increase from $252,000 in July 2011.
Units Sold
July-2011
Units Sold
July-2012% Change % ChangeMedian Price
July-2012
Median Price
July-2011All Homes
Alameda County 1,424 1,827 28.30% 11.59%$345,000 $385,000
Contra Costa County 1,445 1,718 18.89% 19.15%$258,500 $308,000
Marin County 238 339 42.44% 5.20%$635,000 $668,000
Napa County 105 135 28.57% 32.56%$281,000 $372,500
San Francisco County 444 567 27.70% 5.78%$675,000 $714,000
San Mateo County 570 822 44.21% 8.80%$568,000 $618,000
Santa Clara County 1,584 1,779 12.31% 13.00%$500,000 $565,000
Solano County 604 610 0.99% 1.35%$185,500 $188,000
Sonoma County 481 623 29.52% 2.27%$308,000 $315,000
Recapturing Proposition 8 ReductionsProposition 13 caps the growth of a property’s assessment at no more than 2% each year unless the market
value of property falls lower. When property values decline Proposition 8 which was passed by the voters in
1978 allows the property to be temporarily assessed at the lower value. Once reduced, the assessed value
and property taxes may increase by more than 2% a year as the property values rise during a real estate
recovery. The “recaptured” values can be adjusted upward to the annually adjusted Proposition 13 cap (blue
line below).
YEAR 1: The
$500,000
Sales Price of
a newly
purchased
home is used
as the Prop 13
Base Value.
YEAR 2: The market
value rises to
$550,000, but the
Prop 13 assessed
value for taxation is
$510,000. ($500,000
plus 2% CPI increase) YEARS 3-6: Market value falls below
Proposition 13 value and the assessor reduces
the value to the lower value per proposition 8.
YEAR 7: Market
value is $590,000,
however the assessed
value used for
taxation is $563,081.
($500,000 plus the
2% CPI increase
applied for each year
after base year)
909.861.4335 www.hdlcompanies.com
2012/13 PROPERTY TAX REVIEW
THE TOWN OF ATHERTON
Total Taxable ValueTax Year
Total Value Change 575,385,241
2012/13 6,949,217,818
6,373,832,5772011/12
Dollar Change Change Event
174,269,838
-1,137,170
-37,640,413
127,130,095
Net Change of Parcels with Negative Growth
Unsecured Roll Change
Transfer of Ownership Change
Net Value Change of CPI Growth (2.000%)
3,580,224 Non Residential New Construction
575,385,241
Other Net AV Change 309,182,667
Year to Year Value Change by Use Category
% Change$ ChangeCategory
8.55%$530,288,107Residential
2.19%$282,138Dry Farm
3.91%$742,459Miscellaneous
153.49%$9,670,119Unknown
26.64%$35,539,588Vacant
-33.18%-$1,137,170Unsecured
Total Personal PropertyChange by Component
Entire City -3.42% 9.03%
3.32%Countywide 3.03%
0M
1,000M
2,000M
3,000M
4,000M
5,000M
6,000M
7,000M
2003
/04
2004
/05
2005
/06
2006
/07
2007
/08
2008
/09
2009
/10
2010
/11
2011
/12
2012
/13
Unsecured Nonunitary Secured
Net Taxable Value Change Notes:• Residential uses grew 8.6% setting the trend for the city’s 9% growth. These were primarily homes that sold for more than the prior assessor’s enrolled value. • Unsecured properties posted a decline of $1.1 million. This reduction was on vending equipment owned by Grayhawk Leasing LLC, at various locations.• A multi-parcel purchase of residential and vacant sites by 237 Atherton Avenue LLC and 246 Atherton Avenue LLC at the same addresses for $53 million has translated in a year to year increase $58.5 after the addition of the 2% CPI adjustment and the assignment of value to each of the 4 parcels in the transaction. The original combined values of these properties
were $1.98 million.• A vacant residential site at 85 Isabella Avenue was purchased in 2007 by Brion and Sabrina Applegate and was developed through 2009. The original value of $24.8 million was appealed and reduced to $18 million.• The CPI for 2013-14 is tracking at 2%.
Top 10 Taxpayers Based on City Revenue 2011/12 RankTop 10 Taxpayers Based on City Revenue 2012/13
1237 ATHERTON AVENUE LLC new purchase for increased value BITA DARYABARI
2BITA DARYABARI GEORGE R. ROBERTS TRUST
3GEORGE R. ROBERTS TRUST BRION B. APPLEGATE #19 in 2012-13 after an appeal reduction 4PACIFIC PENINSULA GROUP #42 in 2011-12 purchased properties ROBERT THOMAS
5383 ASSOCIATES LLC new improvement added on site NOAHS PARK PLACE LLC #12 in 2012-13 6JOSEPH S. LACOB TRUST #16 in 2011- 12 improvement increase CALIFORNIA WATER SERVICE COMPANY
7ROBERT THOMAS KENNETH C. KIM TRUST #15 in 2012-13 8SHIBUMI LLC #12 in 2011-12 improvement increase ONE SIX FOUR LLC #16 in 2012-13 9CALIFORNIA WATER SERVICE COMPANY PARKFIELD PROPS HOLDING LLC #18 in 2012-13 10BAGATELLE INVESTORS LLC #45 in 2011-12 improvement increase ERIC ROBERTS TRUST #17 in 2012-13
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of
HdL, Coren & Cone
Prepared On 10/9/2012 By PC Data Source: San Mateo County Assessor 2012/13 Secured and Unsecured Tax Rolls
Page 1
2012-2013 PROPERTY DATA
THE TOWN OF ATHERTON
PRELIMINARY PROPERTY TAX REPORTS
Revenue Management for Local Government
THE TOWN OF ATHERTON
2012/13 PROPERTY TAX
Contents 1Section 1: Entire City 1Assessed Values
2Growth by Use Category
3Prop 8 Potential Recapture History
4City Growth Comparison
5Net Taxable Secured Value Changes
6Secured Value Change History Listing
15Transfer of Ownership
16Sales Value History
17Sales History
18Comparison of Median Sale Price to Peak Price
19Roll Summary
20Use Category Summary
21Property Tax Dollar Breakdown
22Representative General Levy Share Estimate
23Property Tax Revenue
24Top Ten Property Taxpayers
25Top 25 Property Taxpayers - Secured
26Top 25 Property Taxpayers - Unsecured
27SBE Assessed Nonunitary Utilities
28Parcel Change Listing
29Section 2: Foreclosure Information 29Foreclosure Activity
31County Foreclosure Activity
34Secured Lender Owned Listing
35Section 3: Resources 35Description of Property Tax Reports
Secured
Nonunitary
Unsecured
2008/09 TO 2012/13 ASSESSED VALUES
THE TOWN OF ATHERTON
- 2008/09 - 2009/10 - 2010/11 - 2011/12 - 2012/13
$2,200,000,000 $4,400,000,000 City County
Percent Change$1,100,000,000 $3,300,000,000$0
Land
$3,496,200,435 I$3,741,062,033 2.1% 7.0% I$3,933,844,027 0.3% 5.2% I$3,876,939,441 0.9%-1.4% I$4,235,092,480 3.2% 9.2% I
Improvements
$2,399,575,267 I$2,541,118,750 0.0% 5.9% I$2,563,582,187 -1.2% 0.9% I$2,662,814,011 2.3% 3.9% I$2,885,227,036 3.0% 8.4% I
Personal Property
$17,080,710 I$18,610,486 -2.1% 9.0% I$20,376,454 -17.1% 9.5% I$16,508,814 -6.0%-19.0% I$15,944,256 3.0%-3.4% I
Exemptions
$102,199,514 I$114,400,852 6.6% 11.9% I$335,467,581 -1.6% 193.2% I$182,429,689 9.6%-45.6% I$187,045,954 -5.4% 2.5% I
CountyCity$7,200,000,000$3,600,000,000 $5,400,000,000$1,800,000,000
Gross Assessed
$5,912,856,412 I$6,300,791,269 0.8% 6.6% I$6,517,802,668 -1.4% 3.4% I$6,556,262,266 1.3% 0.6% I$7,136,263,772 3.1% 8.8% I
Net Taxable Value
$5,810,656,898 I$6,186,390,417 0.7% 6.5% I$6,182,335,087 -1.4%-0.1% I$6,373,832,577 1.1% 3.1% I$6,949,217,818 3.3% 9.0% I
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2008/09 To 2012/13 Combined Tax Rolls
Page 1
2012/13 GROWTH BY USE CATEGORY
THE TOWN OF ATHERTON
2011/12 to 2012/13 Value Growth by Use Category2011/12 Net Taxable Value 2012/13 Net Taxable ValueCategory $ Change % Change
8.6%(96.8%)$6,198,841,844 $6,729,129,951 $530,288,107Residential 2,4852,486
26.6%(2.4%)$133,421,929 $168,961,517 $35,539,588Vacant 7171
3.9%(0.3%)$18,971,552 $19,714,011 $742,459Miscellaneous 3636
153.5%(0.2%)$6,300,000 $15,970,119 $9,670,119Unknown 31
2.2%(0.2%)$12,870,167 $13,152,305 $282,138Dry Farm 11
-33.2%(0.0%)$3,427,085 $2,289,915 -$1,137,170Unsecured [39][36]
> 999.9%(0.0%)$0 $0 $0Commercial 55
> 999.9%(0.0%)$0 $0 $0Institutional 1616
> 999.9%(0.0%)$0 $0 $0Recreational 22
TOTALS $6,949,217,818$6,373,832,577 $575,385,241 9.0%(100.0%) 2,618 2,619
Numbers in blue are parcel/assessment counts
$0
$1,000,000,000
$2,000,000,000
$3,000,000,000
$4,000,000,000
$5,000,000,000
$6,000,000,000
$7,000,000,000
Residential Vacant Miscellaneous Unknown Dry Farm Unsecured Commercial
Use Category
Net
Valu
e
Assessed Value by Major Use Category
2011/12
2012/13
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Combined Tax Rolls
Page 2
PROP 8 POTENTIAL RECAPTURE HISTORY
THE TOWN OF ATHERTON
Residential Parcels
Parcel Count Net AV Peak Values $ Change Total % DeclineRoll Year % of All Parcels
25 2008 90,759,668 83,954,518 -6,805,150 7.5% 1.0%
93 2009 504,886,613 442,725,050 -62,161,563 12.3% 3.7%
296 2010 1,585,274,221 1,369,321,367 -215,952,854 13.6% 11.9%
267 2011 1,438,855,040 1,164,939,203 -273,915,837 19.0% 10.7%
229 2012 1,255,958,040 1,047,490,979 -208,467,061 16.6% 9.2%
The report identifies those parcels which have been granted a value reduction and have the potential of recapturing value per Proposition 8. The reductions were based on current market conditions and recapturing will occur when market values rise.
The Peak Value is defined as a parcel’s highest value after its most recent sale. If a parcel is assessed for a lower value after its most recent sale, then the sales price becomes the peak value.
The Proposition 8 potential value recapturing is shown in the change column and assumes no future sales transactions. As properties transfer ownership they are removed from this listing and if sold for more or less will not be eligible for value recapturing per Proposition 8.
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Assessor Combined Tax Rolls
Page 3
2011/12 To 2012/13 Net Taxable Assessed Value Change
CITY GROWTH COMPARISON
SAN MATEO COUNTY
2012/13 Net Value % ChangeValue ChangeCity
9.027% 575,385,241Atherton 6,949,217,818
5.255% 125,185,605Portola Valley 2,507,305,247
4.798% 25,516,959Colma 557,332,330
4.521% 321,489,988Burlingame 7,433,066,368
4.416% 450,919,958Menlo Park 10,662,442,102
4.216% 179,709,786Woodside 4,442,754,129
4.028% 268,128,387Hillsborough 6,925,451,975
3.797% 140,625,918Millbrae 3,844,595,910
3.477% 161,601,992Belmont 4,809,497,217
3.253% 216,658,948Foster City 6,876,136,315
2.901% 201,113,163San Carlos 7,132,596,256
2.775% 411,431,297Redwood City 15,235,537,284
2.578% 426,748,098San Mateo 16,978,588,948
2.042% 106,589,869San Bruno 5,325,535,303
1.752% 40,426,410Half Moon Bay 2,347,639,088
1.199% 165,760,833South San Francisco 13,992,796,951
1.127% 97,260,109Daly City 8,730,584,804
1.106% 49,298,753Pacifica 4,506,575,554
-0.462%-7,370,619Brisbane 1,587,354,088
-2.503%-49,507,174East Palo Alto 1,928,669,749
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Combined Tax Rolls
Page 4
2012/13 TOP 40 NET TAXABLE SECURED VALUE CHANGES
THE TOWN OF ATHERTON
Current Net Taxable Value
Net Taxable Value ChangeUse Category Owner Situs Value Change from Prior YearParcel
$41,100,000237 Atherton Ave237 Atherton Avenue LlcResidential +2,842%070-170-010 +$39,703,160$16,156,80083 Fairview AveFairview Avenue Holdings LlcResidential +249%070-161-090 +$11,528,666$27,908,301383 Walsh Rd383 Associates LlcResidential +51%074-130-320 +$9,408,301$14,467,619150 Alta Vista DrA Sugar Pine LlcUnknown +130%073-182-110 +$8,167,619$7,600,000237 Atherton Avenue LlcVacant +5,963%070-131-010 +$7,474,657$7,500,000246 Atherton Ave246 Atherton Avenue LlcResidential +2,633%070-040-490 +$7,225,593
$13,005,4945 Betty LnMovassate Jaleh Trust; Movassate Manoutchehr TrustResidential +120%070-022-690 +$7,090,303$11,053,8011 Stern LnMrft LlcResidential +168%070-380-080 +$6,925,564$19,723,135162 Isabella AveBagatelle Investors LlcResidential +52%070-211-520 +$6,756,802$9,000,000150 Almendral AveBrookvale Investments LpVacant +254%059-292-140 +$6,457,473
$15,810,000224 Park LnAtherton 224 Pk Lane LlcResidential +66%070-330-070 +$6,312,712$6,500,000289 Park LnThangaraj Immanuel; Thangaraj Preetha RResidential +3,233%070-342-280 +$6,305,009
$13,460,40398 Stevenson LnHammarskjold Philip; Hammarskjold AliciaResidential +87%070-211-400 +$6,260,403$6,528,000253 Park LnAtherton Properties LlcResidential +1,279%070-342-170 +$6,054,777$6,798,55395 Monte Vista AveBig Pool LlcResidential +770%070-180-380 +$6,017,066
$14,011,083127 Tuscaloosa AveHurd Mark V Trust; Hurd Paula R TrustResidential +66%070-080-050 +$5,565,903$10,905,00092 Faxon RdYellowtail LlcVacant +104%070-201-030 +$5,565,091$9,573,17818 Monte Vista Ave18 Monte Vista Avenue LlcResidential +105%070-132-020 +$4,914,670$7,400,00061 Selby LnCyrus Michael J Trust; Cyrus Mariet TrustResidential +163%059-302-150 +$4,582,681$8,414,863228 Polhemus AveBirkhofer Wendell W Trust; Birkhofer Celeste P TrustResidential +110%070-022-710 +$4,414,863$5,992,500311 Stockbridge AveVoorhies Douglas A Trust; Voorhies Nora D TrustResidential +252%070-011-280 +$4,290,309$5,706,90099 Edwards LnAnderson David L And Lois Trust N A; Von Oech Roger And Wendy TrustResidential +300%070-211-180 +$4,279,834$4,300,000237 Atherton Avenue LlcVacant +4,723%070-131-020 +$4,210,844$4,450,00070 Elena AveElena Properties LlcResidential +1,649%070-212-060 +$4,195,514$4,500,00095 Stern LnRonaghi Mostafa; Mohamadi ParinazResidential +963%070-380-120 +$4,076,658
$14,460,00075 Almendral AveThompson Richard L Trust; Thompson Rhona Fogarty TrustResidential +39%070-090-040 +$4,060,000$4,276,000230 Polhemus AvePacific Peninsula GroupResidential +1,855%070-022-440 +$4,057,320$9,728,745157 Stockbridge AveMaceda Emmanuel Perez Trust; Maceda Ma Lourdes Rufino TrustResidential +68%059-292-020 +$3,928,745$4,260,00045 Prado Secoya StPacific Peninsula GroupResidential +942%070-343-200 +$3,851,053$4,050,000214 Atherton AvePnc Development LlcResidential +1,173%070-040-320 +$3,731,975$5,544,00449 James AvePaxton Nancy L Trust; Desai Gaurang TrustResidential +201%061-132-040 +$3,699,882$7,334,994297 Polhemus AveMassihpour Shahriar Trust; Tabibi Afsaneh TrustResidential +101%070-032-010 +$3,689,901$3,952,500164 Stockbridge AveBhardwaj Vinod K Trust; Bhardwaj Kalpana TrustResidential +1,108%059-281-160 +$3,625,284$8,250,000202 Camino Aly Unit LagoBizer David S Trust; Dsb TrustResidential +75%070-320-080 +$3,547,561
$10,710,00068 Adam WayHolt Michael C Trust; Holt Sharon E TrustResidential +49%059-311-220 +$3,540,204$6,100,000260 Oak Grove AveFarmwald Paul Michael Trust; Farmald Paul Michael TrustResidential +129%061-232-140 +$3,441,123$4,850,00018 Ralston RdYang Zhi; Feng LiminResidential +197%059-292-070 +$3,218,162$4,439,5661 Atherton Oaks LnNixon Lucille Holding Trust Et AlResidential -47%070-341-200 -$3,883,616$5,700,000Borel Private Bank And Trust Company; Fallen Oak TrustResidential -41%070-240-220 -$3,983,642
$18,048,41085 Isabella AveApplegate Brion B; Applegate Sabrina RResidential -28%070-250-410 -$6,966,360
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & ConePrepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2011/12 And 2012/13 Secured Tax Rolls
Page 5
2012/13 TOP 25 SECURED VALUE CHANGE HISTORY LISTING
THE TOWN OF ATHERTON
Owner
Net Total
Assessed
070-170-010 237 Atherton Ave Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Russell Madeleine Haas Trust 0 0 1,141,532 0 620,125 521,407 2000 Russell Madeleine Haas Trust 0 0 1,164,362 0 632,527 531,835 2001 Russell Madeleine Haas Trust 0 0 1,187,648 0 645,177 542,471 2002 Russell Madeleine Haas Trust 0 0 1,211,400 0 658,080 553,320 2003 Russell Madeleine Haas Trust 0 0 1,235,627 0 671,241 564,386 2004 Russell Madeleine Haas Trust 0 0 1,258,696 0 683,773 574,923 2005 Russell-Shapiro Alice; Russell Charles Phillips 0 0 1,283,869 0 697,448 586,421 2006 Russell-Shapiro Alice; Russell Charles Phillips 0 0 1,309,545 0 711,396 598,149 2007 Russell-Shapiro Alice; Russell Charles Phillips 0 0 1,335,734 0 725,623 610,111 2008 Pine Brook Llc 0 0 1,362,448 0 740,135 622,313 2009 Pine Brook Llc 0 0 1,389,696 0 754,937 634,759 2010 Pine Brook Llc 0 0 1,386,401 0 753,147 633,254 2011 237 Atherton Avenue Llc 0 0 1,396,840 0 758,818 638,022 53,000,000F
2012 237 Atherton Avenue Llc 0 0 41,100,000 0 500,000 40,600,000
Owner
Net Total
Assessed
070-161-090 83 Fairview Ave Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Kvamme Mark D And Patricia M 0 0 2,556,119 0 1,556,313 999,806 2000 Kvamme Mark D Trust; Kvamme Patricia M Trust 0 0 2,607,241 0 1,587,439 1,019,802 2001 Kvamme Mark D Trust; Kvamme Patricia M Trust 0 0 2,659,385 0 1,619,187 1,040,198 2002 Kvamme Mark D Trust; Kvamme Patricia M Trust 0 0 2,712,571 0 1,651,570 1,061,001 2003 Kvamme Mark D Trust; Kvamme Patricia M Trust 0 0 2,816,822 0 1,734,601 1,082,221 2004 Kvamme Mark D Trust; Kvamme Patricia M Trust 0 0 4,170,411 0 3,067,985 1,102,426 2005 Kvamme Mark D Trust; Kvamme Patricia M Trust 0 0 4,253,818 0 3,129,344 1,124,474 2006 Kvamme Mark D Trust; Kvamme Patricia M Trust 0 0 4,338,893 0 3,191,930 1,146,963 2007 Kvamme Mark D Trust; Kvamme Patricia M Trust 0 0 4,425,669 0 3,255,767 1,169,902 2008 Kvamme Mark D Trust; Kvamme Patricia M Trust 0 0 4,514,180 0 3,320,880 1,193,300 2009 Kvamme Mark D Trust; Kvamme Patricia M Trust 0 0 4,604,462 0 3,387,296 1,217,166 2010 Fairview Avenue Holdings Llc 0 0 4,593,547 0 3,379,266 1,214,281 2011 Fairview Avenue Holdings Llc 0 0 4,628,134 0 3,404,710 1,223,424 15,840,000F
2012 Fairview Avenue Holdings Llc 0 0 16,156,800 0 3,916,800 12,240,000
Owner
Net Total
Assessed
074-130-320 383 Walsh Rd Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Johnson J Cyril Trust; Johnson La Prele Trust 0 14,000 557,070 0 319,511 237,559 2000 Johnson J Cyril Trust; Johnson La Prele Trust 0 7,000 568,211 0 325,901 242,310 2001 Johnson J Cyril Trust; Johnson La Prele Trust 0 7,000 579,575 0 332,419 247,156 2002 Johnson La Prele Trust 0 0 591,166 0 339,067 252,099 2003 Johnson La Prele Trust 0 7,000 602,988 0 345,848 257,140
2004 Johnson La Prele Trust 0 7,000 630,244 0 368,304 261,940 2005 Johnson La Prele Trust 0 7,000 694,028 0 426,850 267,178 2006 Johnson La Prele Trust 0 7,000 707,058 0 434,537 272,521 2007 383 Associates Llc 0 0 721,198 0 443,227 277,971 18,000,000T
2008 383 Associates Llc 0 0 17,440,000 0 100,000 17,340,000
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & ConePrepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Secured Tax Rolls
Page 6
2012/13 TOP 25 SECURED VALUE CHANGE HISTORY LISTING
THE TOWN OF ATHERTON
Owner
Net Total
Assessed
074-130-320 383 Walsh Rd (Continued)Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
2009 383 Associates Llc 0 0 17,788,800 0 102,000 17,686,800 2010 383 Associates Llc 0 0 21,330,867 0 3,685,985 17,644,882 2011 383 Associates Llc 0 0 18,500,000 0 3,197,000 15,303,000 2012 383 Associates Llc 0 0 27,908,301 0 9,775,000 18,133,301
Owner
Net Total
Assessed
073-182-110 150 Alta Vista Dr Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
2010 A Sugar Pine Llc 0 0 6,100,000 0 100,000 6,000,000 2011 A Sugar Pine Llc 0 0 6,300,000 0 300,000 6,000,000 2012 A Sugar Pine Llc 0 0 14,467,619 0 5,900,000 8,567,619
Owner
Net Total
Assessed
070-131-010 (No Situs) Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Russell Madeleine Haas Trust 0 0 102,437 0 0 102,437 2000 Russell Madeleine Haas Trust 0 0 104,485 0 0 104,485 2001 Russell Madeleine Haas Trust 0 0 106,574 0 0 106,574 2002 Russell Madeleine Haas Trust 0 0 108,705 0 0 108,705 2003 Russell Madeleine Haas Trust 0 0 110,879 0 0 110,879 2004 Russell Madeleine Haas Trust 0 0 112,949 0 0 112,949 2005 Russell-Shapiro Alice; Russell Charles Phillips 0 0 115,207 0 0 115,207 2006 Russell-Shapiro Alice; Russell Charles Phillips 0 0 117,511 0 0 117,511 2007 Russell-Shapiro Alice; Russell Charles Phillips 0 0 119,861 0 0 119,861 2008 Pine Brook Llc 0 0 122,258 0 0 122,258 2009 Pine Brook Llc 0 0 124,703 0 0 124,703 2010 Pine Brook Llc 0 0 124,407 0 0 124,407 2011 237 Atherton Avenue Llc 0 0 125,343 0 0 125,343 53,000,000F
2012 237 Atherton Avenue Llc 0 0 7,600,000 0 0 7,600,000
Owner
Net Total
Assessed
070-040-490 246 Atherton Ave Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Seton Rosalie H Trust Et Al 0 0 224,260 0 92,274 131,986 2000 Seton Rosalie H Trust Et Al 0 0 228,744 0 94,119 134,625 2001 Seton Rosalie H Trust Et Al 0 0 233,318 0 96,001 137,317 2002 Seton Rosalie H Trust Et Al 0 0 237,984 0 97,921 140,063 2003 Seton Rosalie H Trust Et Al 0 0 242,743 0 99,879 142,864 2004 Seton Rosalie H Trust Et Al 0 0 247,274 0 101,743 145,531 2005 Seton Rosalie H Trust Et Al 0 0 252,218 0 103,777 148,441 2006 Seton Rosalie H Trust Et Al 0 0 257,261 0 105,852 151,409 2007 Seton Rosalie H Trust Et Al 0 0 262,406 0 107,969 154,437
2008 Seton Rosalie H Trust Et Al 0 0 267,653 0 110,128 157,525 2009 Seton Rosalie H Trust Et Al 0 0 273,005 0 112,330 160,675 2010 Roth Lois Arnstein Trust; Arnstein Timothy Trust 0 0 272,357 0 112,063 160,294 2011 246 Atherton Avenue Llc 0 0 274,407 0 112,906 161,501 2012 246 Atherton Avenue Llc 0 0 7,500,000 0 0 7,500,000
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & ConePrepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Secured Tax Rolls
Page 7
2012/13 TOP 25 SECURED VALUE CHANGE HISTORY LISTING
THE TOWN OF ATHERTON
Owner
Net Total
Assessed
070-022-690 5 Betty Ln Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Silvestri Philip And Olga C Trust 0 14,000 436,944 0 357,821 79,123 2000 Silvestri Philip And Olga C Trust 0 7,000 445,682 0 364,977 80,705 2001 Silvestri Philip And Olga C Trust 0 7,000 454,595 0 372,276 82,319 2002 Silvestri Philip And Olga C Trust 0 7,000 463,686 0 379,721 83,965 2003 Silvestri Philip And Olga C Trust 0 7,000 472,959 0 387,315 85,644 2004 Silvestri Olga C Trust 0 7,000 481,788 0 394,546 87,242 2005 Movassate Manoutchehr; Movassate Jaleh 0 7,000 491,422 0 402,436 88,986 4,200,000T
2006 Movassate Manoutchehr; Movassate Jaleh 0 0 4,284,000 0 51,000 4,233,000 2007 Movassate Manoutchehr; Movassate Jaleh 0 0 4,369,680 0 52,020 4,317,660 2008 Movassate Manoutchehr; Movassate Jaleh 0 0 4,457,073 0 53,060 4,404,013 2009 Movassate Jaleh Trust; Movassate Manoutchehr Trust 0 0 4,492,093 0 0 4,492,093 2010 Movassate Jaleh Trust; Movassate Manoutchehr Trust 0 0 5,383,996 0 902,550 4,481,446 2011 Movassate Jaleh Trust; Movassate Manoutchehr Trust 0 0 5,915,191 0 1,400,000 4,515,191 2012 Movassate Jaleh Trust; Movassate Manoutchehr Trust 0 0 13,005,494 0 8,400,000 4,605,494
Owner
Net Total
Assessed
070-250-410 85 Isabella Ave Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
2006 Pacific Isabella Partners 0 0 8,955,355 0 0 8,955,355 2007 Applegate Brion B And Sabrina R 0 0 11,210,000 0 500,000 10,710,000 10,500,000T
2008 Applegate Brion B; Applegate Sabrina R 0 0 18,177,900 0 837,900 17,340,000 2009 Applegate Brion B; Applegate Sabrina R 0 0 24,886,800 0 7,200,000 17,686,800 2010 Applegate Brion B; Applegate Sabrina R 0 0 24,827,818 0 7,182,936 17,644,882 2011 Applegate Brion B; Applegate Sabrina R 0 0 25,014,770 0 7,237,023 17,777,747 2012 Applegate Brion B; Applegate Sabrina R 0 0 18,048,410 0 7,381,763 10,666,647
Owner
Net Total
Assessed
070-380-080 1 Stern Ln Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Leclaire Norma G And D G Trust; Leclaire Harry Edward Trust 0 14,000 1,852,336 0 926,168 926,168 2000 Leclaire Norma G And D G Trust; Leclaire Harry Edward Trust 0 7,000 1,889,382 0 944,691 944,691 2001 Leclaire Norma G And D G Trust; Leclaire Harry Edward Trust 0 7,000 1,927,168 0 963,584 963,584 2002 Leclaire Norma G And D G Trust; Leclaire Harry Edward Trust 0 7,000 1,965,710 0 982,855 982,855 2003 Leclaire Norma G And D G Trust; Leclaire Harry Edward Trust 0 7,000 2,005,024 0 1,002,512 1,002,512 2004 Leclaire Norma G And D G Trust; Leclaire Harry Edward Trust 0 7,000 2,042,456 0 1,021,228 1,021,228 2005 Leclaire Norma G And D G Trust; Leclaire Harry Edward Trust 0 7,000 2,083,304 0 1,041,652 1,041,652 2006 Leclaire Norma G And D G Trust; Leclaire Harry Edward Trust 0 7,000 2,124,970 0 1,062,485 1,062,485 2007 Leclaire Norma G And D G Trust; Leclaire Harry Edward Trust 0 7,000 2,167,468 0 1,083,734 1,083,734 2008 Leclaire Norma G And D G Trust; Leclaire Harry Edward Trust 0 7,000 2,210,816 0 1,105,408 1,105,408 2009 Mrft Llc 0 7,000 2,255,032 0 1,127,516 1,127,516 3,800,000F
2010 Mrft Llc 0 0 3,800,000 0 50,000 3,750,000
2011 Mrft Llc 0 0 4,128,237 0 350,000 3,778,237 2012 Mrft Llc 0 0 11,053,801 0 7,200,000 3,853,801
Owner
Net Total
Assessed
070-211-520 162 Isabella Ave Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & ConePrepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Secured Tax Rolls
Page 8
2012/13 TOP 25 SECURED VALUE CHANGE HISTORY LISTING
THE TOWN OF ATHERTON
Owner
Net Total
Assessed
070-211-520 162 Isabella Ave (Continued)Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
2005 Ranadive Deborah E 0 7,000 8,024,578 0 2,551,715 5,472,863 2006 Ranadive Deborah E 0 7,000 8,185,069 0 2,602,749 5,582,320 2007 Addicott Deborah E Trust; Addicott Deborah E Trust 0 7,000 8,348,769 0 2,654,803 5,693,966 2008 Taweel 1998 Family Trust 0 7,000 8,515,744 0 2,707,899 5,807,845 2009 Taweel 1998 Family Trust 0 7,000 8,686,057 0 2,762,056 5,924,001 12,900,000F
2010 Bagatelle Investors Llc 0 0 12,869,426 0 6,434,713 6,434,713 2011 Bagatelle Investors Llc 0 0 12,966,333 0 100,514 12,865,819 2012 Bagatelle Investors Llc 0 0 19,723,135 0 6,600,000 13,123,135
Owner
Net Total
Assessed
059-292-140 150 Almendral Ave Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Rick Bell Builders Inc Et Al 0 0 2,207,663 0 129,862 2,077,801 2000 Rick Bell Builders Inc Et Al 0 0 2,251,816 0 132,459 2,119,357 2001 Rick Bell Builders Inc Et Al 0 0 2,296,852 0 135,108 2,161,744 2002 Rick Bell Builders Inc Et Al 0 0 2,342,788 0 137,810 2,204,978 2003 Rick Bell Builders Inc Et Al 0 0 2,389,643 0 140,566 2,249,077 2004 Rick Bell Builders Inc Et Al 0 0 2,434,257 0 143,190 2,291,067 2005 Rick Bell Builders Inc Et Al 0 0 2,482,941 0 146,053 2,336,888 2006 Rick Bell Builders Inc Et Al 0 0 2,532,599 0 148,974 2,383,625 2007 Rick Bell Builders Inc Et Al 0 0 2,583,250 0 151,953 2,431,297 2008 Rick Bell Builders Inc Et Al 0 0 2,634,914 0 154,992 2,479,922 2009 Rick Bell Builders Inc Et Al 0 0 2,529,520 0 0 2,529,520 2010 Rick Bell Builders Inc Et Al 0 0 2,523,525 0 0 2,523,525 2011 Brookvale Investments Lp 0 0 2,542,527 0 0 2,542,527 9,000,000F
2012 Brookvale Investments Lp 0 0 9,000,000 0 0 9,000,000
Owner
Net Total
Assessed
070-330-070 224 Park Ln Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Lucas Donald L Trust 0 14,000 386,279 0 276,499 109,780 2000 Lucas Donald L Trust 0 7,000 394,003 0 282,028 111,975 2001 Lucas Donald L Trust 0 7,000 401,882 0 287,668 114,214 2002 Lucas Donald L Trust 0 7,000 409,919 0 293,421 116,498 2003 Lucas Donald L Trust 0 7,000 418,116 0 299,289 118,827 2004 Lucas Donald L Trust 0 7,000 425,921 0 304,876 121,045 2005 Lamb Partners Llc Et Al 0 0 4,775,000 0 2,387,500 2,387,500 2006 224 Park Lane Llc 0 0 4,810,000 0 220,000 4,590,000 2007 224 Park Lane Llc 0 0 6,081,800 0 1,400,000 4,681,800 2008 Lamb Randolph F Trust; Lamb Lisa Carey Trust 0 0 9,263,436 0 4,488,000 4,775,436 2009 Lamb Randolph F Trust; Lamb Lisa Carey Trust 0 7,000 9,448,704 0 4,577,760 4,870,944
2010 Atherton 224 Park Lane Llc 0 7,000 9,426,309 0 4,566,910 4,859,399 2011 Atherton 224 Park Lane Llc 0 7,000 9,497,288 0 4,601,298 4,895,990 15,500,000F
2012 Atherton 224 Pk Lane Llc 0 0 15,810,000 0 7,905,000 7,905,000
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & ConePrepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Secured Tax Rolls
Page 9
2012/13 TOP 25 SECURED VALUE CHANGE HISTORY LISTING
THE TOWN OF ATHERTON
Owner
Net Total
Assessed
070-342-280 289 Park Ln Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
2000 Hughmanick Dorothy D Trust 0 7,000 162,545 0 70,023 92,522 2001 Hughmanick Dorothy D Trust 0 7,000 165,795 0 71,423 94,372 2002 Hughmanick Michael Dennis Trust; Hughmanick Douglas Dalton Trust 0 7,000 169,110 0 72,851 96,259 2003 Hughmanick Michael Dennis Trust; Hughmanick Douglas Dalton Trust 0 7,000 172,492 0 74,308 98,184 2004 Hughmanick Michael Dennis Trust; Hughmanick Douglas Dalton Trust 0 7,000 175,712 0 75,695 100,017 2005 Hughmanick Michael Dennis Trust; Hughmanick Douglas Dalton Trust 0 7,000 179,225 0 77,208 102,017 2006 Hughmanick Michael Dennis Trust; Hughmanick Douglas Dalton Trust 0 7,000 182,809 0 78,752 104,057 2007 Hughmanick Michael Dennis Trust; Hughmanick Douglas Dalton Trust 0 7,000 186,465 0 80,327 106,138 2008 Hughmanick Michael Dennis Trust; Hughmanick Douglas Dalton Trust 0 7,000 190,193 0 81,933 108,260 2009 Hughmanick Michael Dennis Trust; Hughmanick Douglas Dalton Trust 0 7,000 193,996 0 83,571 110,425 2010 Hughmanick Michael Dennis Trust; Hughmanick Douglas Dalton Trust 0 7,000 193,535 0 83,372 110,163 2011 Thangaraj Immanuel And Preetha R 0 7,000 194,991 0 83,999 110,992 6,500,000F
2012 Thangaraj Immanuel; Thangaraj Preetha R 0 0 6,500,000 0 50,000 6,450,000
Owner
Net Total
Assessed
070-211-400 98 Stevenson Ln Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Black Dawn Yates Trust 0 14,000 837,046 0 626,837 210,209 2000 Black Dawn Yates Trust 0 7,000 853,786 0 639,373 214,413 2001 Black Dawn Yates Trust 0 7,000 870,861 0 652,160 218,701 2002 Black Dawn Yates Trust 0 7,000 888,278 0 665,203 223,075 2003 Black Dawn Yates Trust 0 7,000 906,043 0 678,507 227,536 2004 Black Dawn Yates Trust 0 7,000 922,958 0 691,174 231,784 2005 Black Dawn Yates Trust 0 7,000 941,416 0 704,997 236,419 2006 Black Dawn Yates Trust 0 7,000 960,243 0 719,096 241,147 2007 Black Dawn Yates Trust 0 7,000 979,446 0 733,477 245,969 2008 Hammarskjold P And A 1998 Trust 0 7,000 999,034 0 748,146 250,888 2009 Hammarskjold P And A 1998 Trust 0 7,000 1,019,013 0 763,108 255,905 6,800,000F
2010 Hammarskjold Philip; Hammarskjold Alicia 0 0 6,450,000 0 40,000 6,410,000 2011 Hammarskjold Philip; Hammarskjold Alicia 0 0 7,200,000 0 1,200,000 6,000,000 2012 Hammarskjold Philip; Hammarskjold Alicia 0 0 13,460,403 0 6,540,000 6,920,403
Owner
Net Total
Assessed
070-342-170 253 Park Ln Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Ruffo Albert J Trust; Ferrari Jr Clarence J Trust 0 0 386,737 0 287,593 99,144 2000 Ruffo Albert J Trust; Ferrari Jr Clarence J Trust 0 0 394,470 0 293,344 101,126 2001 Ruffo Albert J Trust; Ferrari Jr Clarence J Trust 0 0 402,358 0 299,210 103,148 2002 Walsh Linda R Trust Et Al 0 0 410,404 0 305,194 105,210 2003 Walsh Linda R Trust Et Al 0 0 418,611 0 311,297 107,314 2004 Walsh Linda R Trust Et Al 0 0 426,425 0 317,108 109,317
2005 Walsh Linda R Trust Et Al 0 0 434,953 0 323,450 111,503 2006 Walsh Linda R Trust Et Al 0 0 443,652 0 329,919 113,733 2007 Walsh Linda R Trust Et Al 0 0 452,524 0 336,517 116,007 2008 Walsh Linda R Trust Et Al 0 0 461,574 0 343,247 118,327 2009 Walsh Linda R Trust Et Al 0 0 470,804 0 350,111 120,693
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & ConePrepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Secured Tax Rolls
Page 10
2012/13 TOP 25 SECURED VALUE CHANGE HISTORY LISTING
THE TOWN OF ATHERTON
Owner
Net Total
Assessed
070-342-170 253 Park Ln (Continued)Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
2010 Atherton Properties Llc 0 0 469,687 0 349,281 120,406 2011 Roberts Eric B 0 0 473,223 0 351,911 121,312 6,500,000F
2012 Atherton Properties Llc 0 0 6,528,000 0 0 6,528,000
Owner
Net Total
Assessed
070-180-380 95 Monte Vista Ave Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
2004 Goldman Richard N And R H Trust 0 0 704,201 0 332,777 371,424 2005 Goldman Richard N And R H Trust 0 0 718,284 0 339,432 378,852 2006 Goldman Richard N And R H Trust 0 0 732,649 0 346,220 386,429 2007 Goldman Richard N And R H Trust 0 0 747,301 0 353,144 394,157 2008 Brown Shingles Llc; Goldman Rhoda H Trust 0 0 762,246 0 360,206 402,040 2009 Goldman Richard N Trust; Big Pool Llc 0 0 777,490 0 367,410 410,080 2010 Goldman Richard N Trust; Big Pool Llc 0 0 775,647 0 366,539 409,108 2011 Big Pool Llc 0 0 781,487 0 369,299 412,188 6,400,000F
2012 Big Pool Llc 0 0 6,798,553 0 688,340 6,110,213
Owner
Net Total
Assessed
070-080-050 127 Tuscaloosa Ave Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Phillips David H And Judy L 0 14,000 1,685,056 0 892,089 792,967 2000 Phillips David H And Judy L 0 7,000 1,718,756 0 909,930 808,826 2001 Phillips David H And Judy L 0 7,000 1,753,130 0 928,128 825,002 2002 Phillips David Harrison Trust; Phillips Judy Lee Trust 0 7,000 1,788,192 0 946,690 841,502 2003 Phillips David Harrison Trust; Phillips Judy Lee Trust 0 7,000 1,823,955 0 965,623 858,332 2004 Phillips David Harrison Trust; Phillips Judy Lee Trust 0 7,000 1,858,008 0 983,651 874,357 2005 Phillips David Harrison Trust; Phillips Judy Lee Trust 0 7,000 1,895,168 0 1,003,324 891,844 2006 Phillips David Harrison Trust; Phillips Judy Lee Trust 0 7,000 1,933,070 0 1,023,390 909,680 2007 Phillips Judy Lee Trust 0 7,000 1,971,730 0 1,043,857 927,873 2008 Pacific Peninsula Group 0 7,000 2,011,164 0 1,064,734 946,430 8,000,000F
2009 Hurd Family Trust 0 0 7,800,000 0 50,000 7,750,000 6,000,000F
2010 Hurd Mark V Trust; Hurd Paula R Trust 0 0 6,060,725 0 60,725 6,000,000 2011 Hurd Mark V Trust; Hurd Paula R Trust 0 0 8,445,180 0 2,400,000 6,045,180 2012 Hurd Mark V Trust; Hurd Paula R Trust 0 0 14,011,083 0 7,845,000 6,166,083
Owner
Net Total
Assessed
070-201-030 92 Faxon Rd Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Janss Elizabeth 0 0 2,900,000 0 1,450,000 1,450,000 2000 Roosevelt Michael A Trust; Von Simson Paula L E 0 0 2,958,000 0 1,479,000 1,479,000 2001 Roosevelt Michael A Trust; Von Simson Paula L E 0 0 3,017,160 0 1,508,580 1,508,580 2002 Roosevelt Michael A Trust; Von Simson Paula L E 0 0 3,077,502 0 1,538,751 1,538,751
2003 Roosevelt Michael A Trust; Von Simson Paula L E 0 0 3,139,052 0 1,569,526 1,569,526 2004 Roosevelt Michael A Trust; Von Simson Paula L E 0 0 3,197,658 0 1,598,829 1,598,829 2005 Roosevelt Michael A Trust; Von Simson Paula L E 0 0 3,261,610 0 1,630,805 1,630,805 2006 Roosevelt Michael A Trust; Von Simson Paula L E 0 0 3,326,842 0 1,663,421 1,663,421 2007 Roosevelt Michael A Trust; Von Simson Paula L E 0 0 3,393,378 0 1,696,689 1,696,689
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & ConePrepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Secured Tax Rolls
Page 11
2012/13 TOP 25 SECURED VALUE CHANGE HISTORY LISTING
THE TOWN OF ATHERTON
Owner
Net Total
Assessed
070-201-030 92 Faxon Rd (Continued)Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
2008 Roosevelt Michael A Trust; Von Simson Paula L E 0 0 3,461,244 0 1,730,622 1,730,622 2009 Pacific Peninsula Group 0 0 3,530,468 0 1,765,234 1,765,234 2010 Yellowtail Llc 0 0 3,522,100 0 1,761,050 1,761,050 5,400,000F
2011 Yellowtail Llc 0 0 5,339,909 0 0 5,339,909 8,250,000F
2012 Yellowtail Llc 0 0 10,905,000 0 3,000,000 7,905,000
Owner
Net Total
Assessed
070-132-020 18 Monte Vista Ave Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Atalla Martin M 0 14,000 772,992 0 411,783 361,209 2000 Atalla Martin M 0 7,000 788,451 0 420,018 368,433 2001 Atalla Martin M 0 7,000 804,219 0 428,418 375,801 2002 Atalla Martin M 0 7,000 820,303 0 436,986 383,317 2003 Atalla Martin M 0 7,000 836,708 0 445,725 390,983 2004 Atalla Martin M 0 7,000 852,328 0 454,046 398,282 2005 Atalla Martin M 0 7,000 869,373 0 463,126 406,247 2006 Atalla Martin M 0 7,000 886,759 0 472,388 414,371 2007 Atalla Martin M 0 7,000 904,493 0 481,835 422,658 2008 Atalla Martin M 0 7,000 922,582 0 491,471 431,111 2009 Pacific Peninsula Group 0 7,000 941,033 0 501,300 439,733 2010 Pacific Peninsula Group 0 7,000 938,801 0 500,111 438,690 4,500,000F
2011 18 Monte Vista Avenue Llc 0 0 4,658,508 0 175,000 4,483,508 2012 18 Monte Vista Avenue Llc 0 0 9,573,178 0 5,000,000 4,573,178 13,780,000F
Owner
Net Total
Assessed
059-302-150 61 Selby Ln Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Hoffman Arthur A And E R Trust 0 14,000 206,418 0 128,391 78,027 2000 Hoffman Arthur A And E R Trust 0 7,000 210,545 0 130,958 79,587 2001 Hoffman Arthur A And E R Trust 0 7,000 214,755 0 133,577 81,178 2002 Hoffman Arthur A And E R Trust 0 7,000 219,049 0 136,248 82,801 2003 Hoffman Arthur A And E R Trust 0 7,000 223,429 0 138,972 84,457 2004 Hoffman Arthur A And E R Trust 0 7,000 227,599 0 141,566 86,033 2005 Hoffman Arthur A And E R Trust 0 7,000 232,150 0 144,397 87,753 2006 Hoffman Arthur A And E R Trust 0 7,000 236,792 0 147,284 89,508 2007 Hoffman A And E Family Trust 0 7,000 241,527 0 150,229 91,298 2008 Hoffman Estelle R Trust 0 0 246,356 0 153,233 93,123 2009 Fluegel Trust 0 0 251,282 0 156,297 94,985 2,350,000F
2010 Fluegel Frederick K Trust; Fluegel Trust 0 0 2,350,000 0 50,000 2,300,000 2011 Cyrus Michael J Trust; Cyrus Mariet Trust 0 0 2,817,319 0 500,000 2,317,319 7,400,000F
2012 Cyrus Michael J Trust; Cyrus Mariet Trust 0 7,000 7,400,000 0 3,700,000 3,700,000
Owner
Net Total
Assessed
070-022-710 228 Polhemus Ave Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Miller Thormund A And Hannah A 0 14,000 237,134 0 164,284 72,850 2000 Miller Thormund A And Hannah A 0 7,000 241,876 0 167,569 74,307
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & ConePrepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Secured Tax Rolls
Page 12
2012/13 TOP 25 SECURED VALUE CHANGE HISTORY LISTING
THE TOWN OF ATHERTON
Owner
Net Total
Assessed
070-022-710 228 Polhemus Ave (Continued)Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
2001 Miller Thormund A And Hannah A 0 7,000 246,713 0 170,920 75,793 2002 Miller Thormund A And Hannah A 0 7,000 251,646 0 174,338 77,308 2003 Miller Thormund A And Hannah A 0 7,000 256,678 0 177,824 78,854 2004 Miller Thormund A And Hannah A 0 7,000 261,469 0 181,143 80,326 2005 Miller Thormund A Trust; Miller Trust 0 7,000 266,697 0 184,765 81,932 2006 Miller Thormund A Trust; Miller Trust 0 7,000 272,030 0 188,460 83,570 2007 Miller Thormund A Trust; Miller Trust 0 7,000 277,470 0 192,229 85,241 2008 Birkhofer Wendell W Trust; Birkhofer Celeste P Trust 0 7,000 283,018 0 196,073 86,945 4,600,000F
2009 Birkhofer Wendell W Trust; Birkhofer Celeste P Trust 0 0 4,600,000 0 50,000 4,550,000 2010 Birkhofer Wendell W Trust; Birkhofer Celeste P Trust 0 0 3,776,300 0 76,300 3,700,000 2011 Birkhofer Wendell W Trust; Birkhofer Celeste P Trust 0 0 4,000,000 0 750,000 3,250,000 2012 Birkhofer Wendell W Trust; Birkhofer Celeste P Trust 0 5,600 8,414,863 0 3,750,000 4,664,863
Owner
Net Total
Assessed
070-011-280 311 Stockbridge Ave Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Roizen Jo Ann H; Mohler David G 0 14,000 1,000,747 0 534,548 466,199 2000 Roizen Jo Ann H; Mohler David G 0 7,000 1,020,760 0 545,238 475,522 2001 Roizen Jo Ann Heidi Trust; Mohler David G Trust 0 7,000 1,041,174 0 556,142 485,032 2002 Roizen Jo Ann Heidi Trust; Mohler David G Trust 0 7,000 1,061,996 0 567,264 494,732 2003 Roizen Jo Ann Heidi Trust; Mohler David G Trust 0 7,000 1,083,235 0 578,609 504,626 2004 Roizen Jo Ann Heidi Trust; Mohler David G Trust 0 7,000 1,454,458 0 940,411 514,047 2005 Roizen Jo Ann Heidi Trust; Mohler David G Trust 0 7,000 1,564,526 0 1,040,199 524,327 2006 Roizen Jo Ann Heidi Trust; Mohler David G Trust 0 7,000 1,595,815 0 1,061,002 534,813 2007 Roizen Jo Ann Heidi Trust; Mohler David G Trust 0 7,000 1,627,730 0 1,082,221 545,509 2008 Roizen Jo Ann Heidi Trust; Mohler David G Trust 0 7,000 1,660,283 0 1,103,864 556,419 2009 Roizen Jo Ann Heidi Trust; Mohler David G Trust 0 7,000 1,693,487 0 1,125,940 567,547 2010 Voorhies D A And N D Family Trust 0 7,000 1,689,471 0 1,123,270 566,201 2011 Voorhies D A And N D Family Trust 0 7,000 1,702,191 0 1,131,727 570,464 5,875,000F
2012 Voorhies Douglas A Trust; Voorhies Nora D Trust 0 0 5,992,500 0 2,996,250 2,996,250
Owner
Net Total
Assessed
070-211-180 99 Edwards Ln Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Von Oech Roger And Wendy Trust 0 14,000 1,166,234 0 646,687 519,547 2000 Von Oech Roger And Wendy Trust 0 7,000 1,189,557 0 659,620 529,937 2001 Von Oech Roger And Wendy Trust 0 7,000 1,213,347 0 672,812 540,535 2002 Von Oech Roger And Wendy Trust 0 7,000 1,237,613 0 686,268 551,345 2003 Von Oech Roger And Wendy Trust 0 7,000 1,262,364 0 699,993 562,371 2004 Von Oech Roger And Wendy Trust 0 7,000 1,285,931 0 713,061 572,870 2005 Von Oech Roger And Wendy Trust 0 7,000 1,311,649 0 727,322 584,327
2006 Von Oech Roger And Wendy Trust 0 7,000 1,337,881 0 741,868 596,013 2007 Von Oech Roger And Wendy Trust 0 7,000 1,364,638 0 756,705 607,933 2008 Von Oech Roger And Wendy Trust 0 7,000 1,391,930 0 771,839 620,091 2009 Von Oech Roger And Wendy Trust 0 7,000 1,419,767 0 787,275 632,492 2010 Anderson Living Trust 0 7,000 1,416,401 0 785,409 630,992
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & ConePrepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Secured Tax Rolls
Page 13
2012/13 TOP 25 SECURED VALUE CHANGE HISTORY LISTING
THE TOWN OF ATHERTON
Owner
Net Total
Assessed
070-211-180 99 Edwards Ln (Continued)Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
2011 Anderson Living Trust 0 7,000 1,427,066 0 791,323 635,743 5,595,000F
2012 Anderson David L And Lois Trust N A; Von Oech Roger And Wendy Trust 0 0 5,706,900 0 96,900 5,610,000
Owner
Net Total
Assessed
070-131-020 (No Situs) Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Russell Madeleine Haas Trust 0 0 72,865 0 0 72,865 2000 Russell Madeleine Haas Trust 0 0 74,322 0 0 74,322 2001 Russell Madeleine Haas Trust 0 0 75,808 0 0 75,808 2002 Russell Madeleine Haas Trust 0 0 77,324 0 0 77,324 2003 Russell Madeleine Haas Trust 0 0 78,870 0 0 78,870 2004 Russell Madeleine Haas Trust 0 0 80,342 0 0 80,342 2005 Russell-Shapiro Alice; Russell Charles Phillips 0 0 81,948 0 0 81,948 2006 Russell-Shapiro Alice; Russell Charles Phillips 0 0 83,586 0 0 83,586 2007 Russell-Shapiro Alice; Russell Charles Phillips 0 0 85,257 0 0 85,257 2008 Pine Brook Llc 0 0 86,962 0 0 86,962 2009 Pine Brook Llc 0 0 88,701 0 0 88,701 2010 Pine Brook Llc 0 0 88,490 0 0 88,490 2011 237 Atherton Avenue Llc 0 0 89,156 0 0 89,156 53,000,000F
2012 237 Atherton Avenue Llc 0 0 4,300,000 0 0 4,300,000
Owner
Net Total
Assessed
070-212-060 70 Elena Ave Land
Fixtures &
Improvements
Homeowner
ExemptionsExemptions
Personal
Property Appeals Activity
Transfer
AmountYear
1999 Holland Sarah 0 14,000 207,982 0 115,095 92,887 2000 Holland Sarah L Trust 0 7,000 212,140 0 117,396 94,744 2001 Holland Sarah L Trust 0 7,000 216,381 0 119,743 96,638 2002 Holland Sarah L Trust 0 7,000 220,707 0 122,137 98,570 2003 Holland Sarah L Trust 0 7,000 225,120 0 124,579 100,541 2004 Holland Sarah L Trust 0 7,000 229,322 0 126,904 102,418 2005 Holland Sarah L Trust 0 7,000 233,908 0 129,442 104,466 2006 Holland Sarah L Trust 0 7,000 238,585 0 132,030 106,555 2007 Holland Sarah L Trust 0 7,000 243,356 0 134,670 108,686 2008 Holland Sarah L Trust 0 7,000 248,222 0 137,363 110,859 2009 Barics Paul M Trust; Holland Sarah L Trust 0 7,000 253,186 0 140,110 113,076 2010 Barics Paul M Trust; Holland Sarah L Trust 0 7,000 252,585 0 139,777 112,808 2011 Elena Properties Llc 0 7,000 254,486 0 140,829 113,657 4,450,000F
2012 Elena Properties Llc 0 0 4,450,000 0 50,000 4,400,000
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & ConePrepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Secured Tax Rolls
Page 14
TRANSFER OF OWNERSHIP (2008 - 2012)
THE TOWN OF ATHERTON
Multifamily, Commercial, Industrial, VacantSingle Family Residential Totals
$
Change
%
Change
Sale
Price
Original
Values
Non SFR
Sales
Total
Sales
Original
Values
Sale
Values
%
Change
%
Change
Sale
Price
Tax
Year
# SFR
Sales
Original
Values
GENERAL FUND Valid Sales Price Analysis
83 $176,907,586$439,893,545 86 $262,985,95920121/1/12-9/30/12
$247,330,786 $420,568,545 3 $15,655,173 $19,325,00070.0% 23.4% 67.3%
Est. Revenue Change: $147,690.03
94 $174,269,838$430,542,000 98 $256,272,16220111/1/11-12/31/11
$246,792,522 $409,111,000 4 $9,479,640 $21,431,00065.8% 126.1% 68.0%
Est. Revenue Change: $145,282.83
95 $128,872,016$363,264,409 95 $234,392,39320101/1/10-12/31/10
$234,392,393 $363,264,409 0 $0 $055.0% 0.0% 55.0%
Est. Revenue Change: $107,079.26
68 $67,538,291$286,540,000 70 $219,001,70920091/1/09-12/31/09
$208,036,709 $276,878,000 2 $10,965,000 $9,662,00033.1% -11.9% 30.8%
Est. Revenue Change: $56,377.23
75 $206,142,696$407,026,909 80 $200,884,21320081/1/08-12/31/08
$182,446,299 $376,776,909 5 $18,437,914 $30,250,000106.5% 64.1% 102.6%
Est. Revenue Change: $171,768.79
* Sale value is a sum of all Full Value Parcel Sales (Sales not included in the analysis are quitclaim deeds, trust transfers, partial sales, timeshares, multiple parcel transactions and non-reported document number transfers)
Prepared On 11/21/2012 By MV
Page 15 This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Datasource: San Mateo County 2008/09 - 2012/13 Secured Tax Roll And County Recorder
SALES VALUE HISTORY
THE TOWN OF ATHERTON
Single Family Residential Full Value Sales (01/01/1999 - 09/30/2012)
Full Value Sales Median PriceYear Average Price Median % Change
77 $1,824,5641999 $1,660,000
52 $4,042,163 122.89%2000 $3,700,000
29 $2,116,536 -45.95%2001 $2,000,000
34 $2,318,128 -8.63%2002 $1,827,500
35 $2,016,814 1.37%2003 $1,852,500
39 $2,870,871 48.45%2004 $2,750,000
30 $2,493,250 -20.91%2005 $2,175,000
22 $2,887,636 19.54%2006 $2,600,000
16 $3,448,250 20.19%2007 $3,125,000
76 $4,960,354 27.20%2008 $3,975,000
69 $4,018,522 -20.00%2009 $3,180,000
96 $3,784,509 -1.65%2010 $3,127,500
96 $4,269,180 20.70%2011 $3,775,000
83 $5,067,091 1.19%2012 $3,820,000
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Median Price Avg Price
Year
Sa
les
Pri
ce
*Sales not included in the analysis are quitclaim deeds, trust transfers, timeshares, and partial sales.
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Recorder
Page 16
SALES HISTORY
THE TOWN OF ATHERTON
Single Family Residential Full Value Sales (01/01/2003 - 09/30/2012)
0
5
10
15
20
25
30
35
Sales
Sale
s
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
2003
Q1
2003
Q2
2003
Q3
2003
Q4
2004
Q1
2004
Q2
2004
Q3
2004
Q4
2005
Q1
2005
Q2
2005
Q3
2005
Q4
2006
Q1
2006
Q2
2006
Q3
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
2010
Q4
2011
Q1
2011
Q2
2011
Q3
2011
Q4
2012
Q1
2012
Q2
2012
Q3
Median Price
Period
Med
ian
Sale
s P
rice
*Sales not included in the analysis are quitclaim deeds, trust transfers, timeshares, and partial sales.
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Recorder
Page 17
COMPARISON OF MEDIAN SALE PRICE TO PEAK PRICE
SAN MATEO COUNTY
Single Family Residential Sales (01/01/1999 - 09/30/2012)
Current Median PriceCity
Peak Median Price
Peak Median
Year
% Current Median is Off
Peak
Current Sales Price at Price of
Prior Year
2006 272,500EAST PALO ALTO 2000-57.1% 635,000
2005 408,500~COLMA 2000-49.9% 815,000
2006 429,000DALY CITY 2002-40.0% 715,000
2006 420,000SAN BRUNO 2001-39.1% 690,000
2006 440,000SOUTH SAN FRANCISCO 2002-37.7% 706,500
2006 475,000PACIFICA 2003-30.6% 684,000
2007 575,000SAN MATEO 2004-26.3% 780,500
2006 525,750BRISBANE 2004-24.4% 695,500
2005 640,000HALF MOON BAY 2004-22.7% 828,000
2008 780,000SAN MATEO COUNTY 2005-19.2% 965,000
2008 2,150,000WOODSIDE 2008-18.9% 2,650,000
2008 680,000FOSTER CITY 2005-15.5% 805,000
2007 810,000SAN CARLOS 2005-14.9% 951,750
2007 1,060,000BURLINGAME 2005-12.4% 1,209,750
2006 857,000MILLBRAE 2005-11.2% 965,000
2008 2,645,227PORTOLA VALLEY 2008-8.8% 2,900,500
2007 735,000REDWOOD CITY 2005-8.0% 799,000
2008 2,490,000HILLSBOROUGH 2008-6.2% 2,653,500
2007 875,000BELMONT 2005-5.1% 922,500
2008 3,820,000ATHERTON 2008-3.9% 3,975,000
2008 1,200,000MENLO PARK 2008-3.2% 1,239,500
SAN MATEO * (Entire Region) 2007 785,000 605,000 -22.9% 2004
~City has less than 10 sales in any year.
*Sales not included in the analysis are quitclaim deeds, trust transfers, partial sales, timeshares, multiple parcel transactions and non-reported document number transfers.
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Recorder
Page 18
2012/13 ROLL SUMMARY
THE TOWN OF ATHERTON
Taxable Property Values
Secured Nonunitary Utilities Unsecured
4,234,095,480
2,878,408,622
14,549,673
1,610,135
Aircraft
Fixtures
Personal Property
Improvements
Land
TRAs
Parcels
Values
$7,128,663,910Total Value
0
$7,599,862
0
$0
0 0
17,954
1,394,583
5,190,325
997,000
8
39
0
0
0
0
0 2,619
31
Total Net Value $6,946,927,903
Total Exemptions* $181,736,007
Homeowners* 12,034,400
Aircraft
Fixtures 0
Personal Property 0
Real Estate 181,736,007
Exemptions
0
$5,309,947
$2,289,915
0
0
$0
0
$0
0
0
0
5,309,947
0
0
0
Combined Values Total
Total Values $7,136,263,772
Net Total Values
Total Exemptions
$6,949,217,818
$187,045,954
Net Aircraft Values $0
* Note: Homeowner Exemptions are not included in Total Exemptions
Totals do not Include Aircraft Values or Exemptions
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Combined Tax Rolls
Page 19
2012/13 USE CATEGORY SUMMARY
THE TOWN OF ATHERTON
BASIC PROPERTY VALUE TABLE
Category Parcels RevenueNet Taxable Value
$6,729,129,951 $5,613,965.29 Residential (96.8%) (96.8%)2,485
$0 $0.00 Commercial (0.0%) (0.0%)5
$13,152,305 $11,278.89 Dry Farm (0.2%) (0.2%)1
$0 $0.00 Institutional (0.0%) (0.0%)16
$19,714,011 $17,081.67 Miscellaneous (0.3%) (0.3%)36
$0 $0.00 Recreational (0.0%) (0.0%)2
$168,961,517 $141,125.13 Vacant (2.4%) (2.4%)71
$2,289,915 $1,958.89 Unsecured (0.0%) (0.0%)[39]
$15,970,119 $13,112.43 Unknown (0.2%) (0.2%)3
TOTALS 2,619 $6,949,217,818 $5,798,522.29
96.8%
Residential
2.4%
Vacant
0.7%
Others
Revenue
96.8%
Residential
2.4%
Vacant
0.7%
Others
Net Taxable Value
This report is not to be used in support of debt issuance or continuing disclosure statements without the
written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Combined Tax Rolls
Page 20
PROPERTY TAX DOLLAR BREAKDOWN
THE TOWN OF ATHERTON
$ 0.01830 Mid-penninsula Regional Open Space
$ 0.01458 Sequoia Hospital D istrict
$ 0.00351 County Harbor District
$ 0.00208 Bay Area, Air Pollution
$ 0.00191 Mosquito Abatement
$ 0.00176 Atherton Channel Drainage
$ 1.0000
$ 0.10510 ERAF Share of San Mateo County
$ 0.1310 San Mateo County
$ 0.1664 Menlo Park City Elementary General
$ 0.01868 ERAF Share of Menlo Park F ire District
$ 0.1383 Menlo Park Fire District
$ 0.1556 Sequoia High General Public
$ 0.01984 ERAF Share of Atherton General Fund
$ 0.0858 Atherton General Fund
$ 0.0676 San Mateo Junior Colllege General Public
$ 0.0352 County Education Tax$ 0.00759 ERAF Share of County Library
$ 0.02683 County Library
ATI (Annual Tax Increment) Ratios for Tax Rate Area 001-001, Excluding Redevelopment Factors & Additional Debt Service
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Annual Tax Increment Tables
Page 21
Estimate of Average City Representative Share of the General Levy
REPRESENTATIVE GENERAL LEVY SHARE ESTIMATE
SAN MATEO COUNTY - 2012/13
City Rate* TotalOther Rates*City
East Palo Alto 0.3375 0.3375
Redwood City 0.2588 0.2588
Pacifica 0.2366 0.2366
Daly City 0.2297 0.2297
Hillsborough 0.1871 0.1871
San Mateo 0.1761 0.1761
Burlingame 0.1706 0.1706
South San Francisco 0.1686 0.1686
Brisbane 0.1619 0.1619
Millbrae 0.1579 0.1579
San Bruno 0.1467 0.1467
San Carlos 0.1327 0.1327
Menlo Park 0.1222 0.1222
Atherton 0.1056 0.1056
Belmont 0.0973 0.0973
Half Moon Bay 0.0665 0.0665
Woodside 0.0520 0.0520
Portola Valley 0.0430 0.0430
Colma 0.0000 0.0000
Foster City 0.0000 0.0000
County Average: 0.1425 0.0000 0.1425
*The City tax rate is based on the largest non-redevopment Tax Rate Area in each city; other rates include city-governed overlaying districts such as lighting or maintenance districts.
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Combined Tax Rolls
Page 22
THE TOWN OF ATHERTON
PROPERTY TAX REVENUE - 2012/13Estimated Revenue, Assuming Zero Delinquency
0.102747124 0.000000$7,140,121.47$6,949,217,818 $0.00 $7,140,121.47TOTAL
0.105336342 0.000000$2,289,915UNS
0.000000000 0.000000$0UTIL
0.102746271 0.000000$6,946,927,903SEC
Roll Total RevenueDebt RevenueDebt RateGeneral Fund
RevenueRateNon SA TRAS Taxable Value
General Fund Summary - Non SA TRAs
$7,137,709.36
$2,412.11
$0.00
$0.00
$0.00
$0.00
$7,137,709.36
$2,412.11
$0.00
+ Aircraft $0 $0.00 $0.00 $0.00
Total Before ERAF Adjustment $6,949,217,818 $7,140,121.47 $0.00 $7,140,121.47 0.102747124 0.000000
+ Adjustment for ERAF (From Basic Non-Aircraft Tax Rate Revenue Only) -$1,341,599.18 -$1,341,599.18
$5,798,522.29Non SA TRAs Total $6,949,217,818 $5,798,522.29 0.083441366
+ Aircraft $0 $0.00 $0.00 $0.00$0
Homeowner Exemption revenues are included in the revenue model used for this report
Data Source: San Mateo County Assessor 2012/13 Combined Tax Rolls
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV
Page 23
Top Property Owners Based On Net Values
THE TOWN OF ATHERTON
2012/13 TOP TEN PROPERTY TAXPAYERS
Owner Secured Unsecured Combined Primary Use & Primary AgencyParcels Value ValueParcels Value
% of Net AV
% of Net AV
% of Net AV
237 ATHERTON AVENUE LLC1) 3 $53,000,000 $53,000,000Residential
0.76% 0.76%Atherton General Fund
BITA DARYABARI2) 2 $44,213,657 $44,213,657Residential
0.64% 0.64%Atherton General Fund
GEORGE R. ROBERTS TRUST3) 3 $36,823,956 $36,823,956Residential
0.53% 0.53%Atherton General Fund
383 ASSOCIATES LLC4) 1 $27,908,301 $27,908,301Residential
0.40% 0.40%Atherton General Fund
PACIFIC PENINSULA GROUP5) 5 $27,877,000 $27,877,000Residential
0.40% 0.40%Atherton General Fund
JOSEPH S. LACOB TRUST6) 2 $22,044,436 $22,044,436Residential
0.32% 0.32%Atherton General Fund
ROBERT THOMAS7) 1 $21,013,296 $21,013,296Residential
0.30% 0.30%Atherton General Fund
SHIBUMI LLC8) 1 $20,632,155 $20,632,155Residential
0.30% 0.30%Atherton General Fund
141 TUSCA LLC9) 2 $20,400,000 $20,400,000Residential
0.29% 0.29%Atherton General Fund
DORIS F. FISHER TRUST10) 3 $20,265,875 $20,265,875Residential
0.29% 0.29%Atherton General Fund
0.00% 4.23% $294,178,676$0$294,178,676 0 23Top Ten Total 4.23%
$2,289,915$6,946,927,903City Total $6,949,217,818
Top Owners last edited on 10/9/12 by paulac using sales through 07/12/12
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Combined Tax Rolls and the SBE Non Unitary Tax Roll
Page 24
Top Property Taxpayers Based On Property Tax Revenue
THE TOWN OF ATHERTON
2012/13 TOP 25 PROPERTY TAXPAYERS - SECURED
Owner (Number of Parcels) Assessed ValueEst. Total Revenue
1) 237 ATHERTON AVENUE LLC (3) $45,450.69$53,000,000
2) BITA DARYABARI (2) $37,915.86$44,213,657
3) GEORGE R. ROBERTS TRUST (3) $30,285.58$36,823,956
4) PACIFIC PENINSULA GROUP (5) $23,071.25$27,877,000
5) 383 ASSOCIATES LLC (1) $22,914.38$27,908,301
6) JOSEPH S. LACOB TRUST (2) $18,130.28$22,044,436
7) ROBERT THOMAS (1) $18,020.16$21,013,296
8) SHIBUMI LLC (1) $16,940.23$20,632,155
9) CALIFORNIA WATER SERVICE COMPANY (22) $16,932.48$19,538,026
10) BAGATELLE INVESTORS LLC (1) $16,913.77$19,723,135
11) FAIRVIEW AVENUE HOLDINGS LLC (2) $16,373.90$19,093,588
12) NOAHS PARK PLACE LLC (1) $16,293.64$19,000,000
13) DORIS F. FISHER TRUST (3) $16,282.29$20,265,875
14) 141 TUSCA LLC (2) $16,209.86$20,400,000
15) KENNETH C. KIM TRUST (2) $16,045.57$18,710,717
16) ONE SIX FOUR LLC (1) $15,864.47$18,499,543
17) ERIC ROBERTS TRUST (3) $15,548.06$18,130,577
18) PARKFIELD PROPERTIES HOLDING (2) $15,521.84$18,100,000
19) BRION B. APPLEGATE (1) $15,477.59$18,048,410
20) MAKENA BEACH LLC (1) $15,436.08$18,000,000
21) VIVEK RANADIVE TRUST (1) $14,940.26$17,421,829
22) HOGAR LLC (2) $14,602.84$17,028,365
23) SOMERSET LANE LLC (2) $13,792.31$16,083,200
24) ATHERTON 224 PK LANE LLC (1) $13,558.02$15,810,000
25) HAMID KESHAVARZ TRUST (1) $13,292.18$15,500,000
The 'Est. Total Revenue' for each owner is the estimated revenue for that owner; the 'Est. Incr 1% Revenue' estimated the revenue apportioned as 1% incrementAlthough these estimated calculations are performed on a parcel level, county auitor/contollers' offices neither calculate nor apportion revenures at a parcel level.
Top Owners last edited on 10/09/12 by paulac using sales through 07/12/12
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Combined Tax Rolls and the SBE Non Unitary Tax Roll
Page 25
Top Property Taxpayers Based On Property Tax Revenue
THE TOWN OF ATHERTON
2012/13 TOP 25 PROPERTY TAXPAYERS - UNSECURED
Owner (Number of Parcels) Assessed ValueEst. Total Revenue
1) COMCAST OF CALIFORNIA IX (1) $839.55$979,000
2) OLYMPUS AMERICA (1) $178.39$208,025
3) US BANK NATIONAL ASSOCIATION (1) $164.43$191,738
4) DIRECTV LLC (1) $108.35$126,345
5) DE LAGE LANDEN OPERATIONAL SERVICES (1) $88.02$102,645
6) CISCO SYSTEMS CAPITAL (1) $63.87$74,483
7) ROBERT A. OYSTER TRUST (1) $61.67$71,913
8) F. CLAY JUDD TRUST (1) $38.00$46,278
9) KNOX PLAYSCHOOLS INC (1) $30.34$36,000
10) NATIONAL CONSTRUCTION RENTALS (1) $26.59$31,002
11) ADT SECURITY SERVICES INC (1) $26.19$30,536
12) JAMES FREDERICK WICKETT (1) $25.81$30,101
13) WASH MULTIFAMILY LAUNDRY SYSTEMS (1) $19.93$23,244
14) MARK G. AND NICOLE D. PATTON (1) $19.88$23,145
15) SODEXO AMERICA LLC (1) $18.41$21,473
16) NF LEASING INC (1) $17.02$19,851
17) DISH NETWORK LLC (1) $16.73$19,504
18) MANUFACTURERS AND TRADERS TRUST (1) $16.62$19,381
19) RAYMOND ROSENDIN (2) $16.04$18,704
20) HILL ROM COMPANY INC (1) $14.98$17,466
21) CARL O. ROSENDAHL (1) $14.33$17,427
22) TRAVIS A. WALKER (1) $13.94$16,421
23) WILLIAM AND GLORIA KENNETT TRUST (1) $13.60$15,861
24) TIMOTHY C. CRONIN & STEPHEN BECKER (1) $12.73$14,839
25) KNOWLEDGE LEARNING CORPORATION (1) $11.74$14,293
The 'Est. Total Revenue' for each owner is the estimated revenue for that owner; the 'Est. Incr 1% Revenue' estimated the revenue apportioned as 1% incrementAlthough these estimated calculations are performed on a parcel level, county auitor/contollers' offices neither calculate nor apportion revenures at a parcel level.
Top Owners last edited on 10/09/12 by paulac using sales through 07/12/12
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Combined Tax Rolls and the SBE Non Unitary Tax Roll
Page 26
SBE ASSESSED NONUNITARY UTILITIES - 2012/13 TAX YEAR
THE TOWN OF ATHERTON
Company Parcels Map Number TRA Owner Total ValueLand Value
Improvement Value
Personal PropertyParcel
Company Parcel
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & ConePrepared On 11/21/2012 By MV Data Source: State Board of Equalization 2012/13 Utility Tax Rolls
Page 27
2012/13 PARCEL CHANGE LISTING
THE TOWN OF ATHERTON
TRA Use CategoryDropped Net Total
Value
Added Net Total
ValueSitusOwnerDropped Parcel Added Parcel
001-020 $1,425,000 $0317 Walsh Rd Tully Timothy; Tully Jennifer074-012-360 Residential
001-020 $0 $801,250317 Walsh Rd Tully Timothy; Tully Jennifer074-012-460
001-020 $0 $701,250317 Walsh Rd Tully Timothy; Tully Jennifer074-012-470
$1,425,000 $1,502,5001 Dropped Parcels 2 Added Parcels Totals:
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2011/12 And 2012/13 Secured Tax Rolls
Page 28
FORECLOSURE ACTIVITY
THE TOWN OF ATHERTON
Real Estate Owned by Lender Increase
Notices of Trustee's Sale Filed
Notices of Default Filed
Total Foreclosure Activity
% of Households
4 1 0Mar - 2011 5 0.2% 2 1 0Apr - 2011 3 0.1% 0 0 0May - 2011 0 0.0% 4 5 1Jun - 2011 10 0.4% 1 1 1Jul - 2011 3 0.1% 0 1 0Aug - 2011 1 0.0% 3 1 0Sep - 2011 4 0.2% 1 1 0Oct - 2011 2 0.1% 2 0 0Nov - 2011 2 0.1% 2 3 0Dec - 2011 5 0.2% 0 0 2Jan - 2012 2 0.1% 1 0 0Feb - 2012 1 0.0% 1 1 3Mar - 2012 5 0.2% 1 2 0Apr - 2012 3 0.1% 0 0 0May - 2012 0 0.0% 3 0 0Jun - 2012 3 0.1% 0 0 0Jul - 2012 0 0.0% 0 2 0Aug - 2012 2 0.1% 0 0 0Sep - 2012 0 0.0%
0
1
2
3
4
5
Jan
- 200
6
Mar
- 20
06
May
- 20
06
Jul -
200
6
Sep -
2006
Nov
- 20
06
Jan
- 200
7
Mar
- 20
07
May
- 20
07
Jul -
200
7
Sep -
2007
Nov
- 20
07
Jan
- 200
8
Mar
- 20
08
May
- 20
08
Jul -
200
8
Sep -
2008
Nov
- 20
08
Jan
- 200
9
Mar
- 20
09
May
- 20
09
Jul -
200
9
Sep -
2009
Nov
- 20
09
Jan
- 201
0
Mar
- 20
10
May
- 20
10
Jul -
201
0
Sep -
2010
Nov
- 20
10
Jan
- 201
1
Mar
- 20
11
May
- 20
11
Jul -
201
1
Sep -
2011
Nov
- 20
11
Jan
- 201
2
Mar
- 20
12
May
- 20
12
Jul -
201
2
Sep -
2012
Notices of DefaultNotices of Trustee’sSale
Real Estate Owned
Period
Co
un
t
NotesForeclosure data is grouped by zip code which may not follow municipal boundaries.Notices of Default: Indicates that the property owner has missed at least one scheduled loan payment.Notice of Trustee’s Sale: A document announcing the public sale of a property to recover debt owed by the owner of the property.Real Estate Owned: Property is now owned by the lender as a result of a foreclosure.
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: RealtyTrac U.S. Foreclosure Market Report
Page 29
FORECLOSURE ACTIVITY
THE TOWN OF ATHERTON
Description of TermsForeclosureA process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership (repossession) of the property securing the loan. The foreclosure process begins when a borrower/owner defaults on loan payments (usually mortgage payments) and the lender files the necessary documents to begin the foreclosure proceedings.
Notice of Default (NOD)A publicly recorded notice that a property owner has missed scheduled loan payments for a loan secured by a property . Some states require lenders to record a notice of default to begin the foreclosure process.
Lis Pendens (LIS)A publicly recorded notice of a pending lawsuit against a property owner that may affect the ownership of a property . Some states require lenders to file a lis pendens to begin the foreclosure process if a borrower is in default on loan payments.
Notice of Sale (NTS or NFS):A document announcing the public sale of a property to recover a debt owed by the owner of the property . The notice is mailed to parties affected by the sale of a property, advertised in local publications and recorded in public records. Among other information, it provides the date, time and location of the sale.
REO: Real Estate Owned by the lender, this status indicates the property is now owned by the lender or bank as a result of a foreclosure.
LienA legal claim on a property by a lender or other entity that is owed money by the owner of the property . The entity that files the legal claim is called the lien holder. If the owner does not pay off the loan or debt that is owed, the lien holder can take steps to sell or repossess the property to recover the debt owed (foreclosure).
Junior LiensLiens that have a lower priority in terms of their legal claim on a property. The priority is usually determined by the date when the lien was filed. The first lien, or senior lien, against a property is usually the first mortgage or deed of trust recorded when the owner bought the property. Junior liens are typically cleared out at public foreclosure sale, but the purchaser at the sale may be responsible to pay off senior or higher priority liens.
Deed of TrustA legal document that dictates the terms of a loan used to buy a property and transfers the ownership of the property to a third party called a trustee until the loan has been paid in full. The trustee can sell the property to recover the remaining loan balance for the lender if the borrower violates the terms of the loan (i.e. does not make monthly payments).
ReinstatementThe stoppage of foreclosure proceedings and return to the original terms of a loan that occurs when an borrower pays off the amount in default on the loan to bring the loan payments current. The borrower’s chance to reinstate ends before the public foreclosure sale in most states.
Foreclosure Timeline
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: RealtyTrac U.S. Foreclosure Market Report
Page 30
COUNTY FORECLOSURE ACTIVITY
THE COUNTY OF SAN MATEO
Real Estate Owned by Lender Increase *
Notices of Trustee's Sale Filed
Notices of Default Filed
San Mateo
44 11 7Jan - 2005
29 15 4Jul - 2005
41 0 4Jan - 2006
96 17 2Jul - 2006
181 41 1Jan - 2007
66 13 3Jul - 2007
187 47 29Jan - 2008
363 206 185Jul - 2008
343 155 113Jan - 2009
509 317 103Jul - 2009
193 295 152Jan - 2010
221 214 98Jul - 2010
272 250 114Jan - 2011
228 268 75Jul - 2011
200 265 109Jan - 2012
141 149 16Jul - 2012
NotesForeclosure data is grouped by zip code which may not follow municipal boundaries.Notices of Default: Indicates that the property owner has missed at least one scheduled loan payment.Notice of Trustee’s Sale: A document announcing the public sale of a property to recover debt owed by the owner of the property.Real Estate Owned: Property is now owned by the lender as a result of a foreclosure.
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: RealtyTrac U.S. Foreclosure Market Report
Page 31
COUNTY FORECLOSURE ACTIVITY
THE COUNTY OF SAN MATEO
0
100
200
300
400
500
600
Jan
- 200
5
Jul -
200
5
Jan
- 200
6
Jul -
200
6
Jan
- 200
7
Jul -
200
7
Jan
- 200
8
Jul -
200
8
Jan
- 200
9
Jul -
200
9
Jan
- 201
0
Jul -
201
0
Jan
- 201
1
Jul -
201
1
Jan
- 201
2
Jul -
201
2
Notices of DefaultNotices of Trustee’sSale
Real Estate Owned
Period
Co
un
t
NotesForeclosure data is grouped by zip code which may not follow municipal boundaries.Notices of Default: Indicates that the property owner has missed at least one scheduled loan payment.Notice of Trustee’s Sale: A document announcing the public sale of a property to recover debt owed by the owner of the property.Real Estate Owned: Property is now owned by the lender as a result of a foreclosure.
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: RealtyTrac U.S. Foreclosure Market Report
Page 32
COUNTY FORECLOSURE ACTIVITY
THE COUNTY OF SAN MATEO
ChangeJul 12Jul 11ChangeJul 12Jul 11ChangeJul 12Jul 11
Real Estate Owned by Lender Increase
Notices of Trustee's Sale FiledNotices of Default Filed
City Name
0 0 0ATHERTON 1 1 1-100% -100% -100%
4 1 0BELMONT 5 6 2-20% -83% -100%
4 3 2BRISBANE 3 5 0 33% -40% 9,999%
3 3 0BURLINGAME 7 9 2-57% -67% -100%
26 30 4DALY CITY 37 69 22-30% -57% -82%
6 7 0HALF MOON BAY 9 10 1-33% -30% -100%
4 5 0MENLO PARK 10 9 1-60% -44% -100%
3 6 0MILLBRAE 1 6 0 200% 0% 0%
6 16 2PACIFICA 15 20 13-60% -20% -85%
1 0 0PORTOLA VALLEY 1 1 0 0% -100% 0%
21 20 1REDWOOD CITY 39 30 3-46% -33% -67%
14 14 3SAN BRUNO 16 20 10-13% -30% -70%
5 5 0SAN CARLOS 13 3 0-62% 67% 0%
27 19 1SAN MATEO 37 39 9-27% -51% -89%
15 18 3SOUTH SAN FRANCISCO 33 30 8-55% -40% -63%
2 2 0Unincorporated 1 10 3 100% -80% -100%
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & Cone
Prepared On 11/21/2012 By MV Data Source: RealtyTrac U.S. Foreclosure Market Report
Page 33
THE TOWN OF ATHERTON
2012/13 SECURED LENDER OWNED LISTINGResidential Parcels In Owner Name Order
Situs AddressOwnerParcel Taxable ValueUse Code Descr. $ Change
%
ChangeTRA
Last Valid
Sale Date
Last Valid
Sale PriceBorel Private Bank And Trust Company070-240-220 $5,700,000RESIDENTIAL MISCELLANEOUS -$3,983,642 -41.1% 5/1/06 $9,000,000001-001
340 El Camino Real Us Bank Na 2007-Ar7 Trust070-103-280 $1,296,678SINGLE FAMILY RESIDENCE $25,424 2.0% 1/29/97 $1,000,000001-011
1 Tallwood Ct Wells Fargo Bank Trust074-040-210 $744,852SINGLE FAMILY RESIDENCE $14,604 2.0%001-020
Records 7,741,530 -3,943,614 10,000,000-33.7% 3
This report is a computer generated listing using common words for banks, mortgage, lending, and savings and loan companies. Some proper names may therefore be included that are not lending
institutions and some lending institutions may not be included. This listing includes sales transactions through 09/30/2012 and may be subject to changes as REO properties are acquired or sold from lending
institutions.
This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HdL, Coren & ConePrepared On 11/21/2012 By MV Data Source: San Mateo County Assessor 2012/13 Secured Tax Roll
Page 34
Roll Summary Graph
Displays by value type (land, improvements, personal property, and exemptions) the value deviations between the current tax year and each of the prior 5 tax years. The lower portion of the graph identifies the total assessed value and net taxable assessed value comparisons.
Secured Value Change Listing
The largest valuation deviations - increases and decreases are shown on this graph with APN, Owner Name, Situs Address where available, Current Assessed Value, and Value Increase or Decline.
Secured Value Change History Listing
A review of the top 40 largest parcel deviations over the past 5+ years. It assists in identifying properties, which fail to have exemptions applied before the roll is released; properties that have transferred ownership and sold below their prior assessed value, and distinguishes those owners, which have successfully appealed their property values.
Roll Summary
Report detailing land, improvement, fixtures, personal property, and exemptions for each taxing agency. The value of this report is that city staff can readily see where deviations occur from one year to the next.
City Growth Comparison
This is a countywide report comparing each city’s growth between the two most recent tax years. This report displays both the value change in the Entire City between tax years as well as the percentage growth for every City in the county. If the term “No Data Available” is shown, the City associated with that term is newly incorporated and did not exist in the prior year.
Tax Dollar Breakdown Graph (Color)
The breakdown of the county’s 1% general levy factor file is displayed, with those portions of the tax collected for the City highlighted, for illustrative purposes. This report looks at the largest value, non-redevelopment TRA (tax rate area) as a representative breakdown. In some counties the ERAF (Educational Revenue Augmentation Fund) shift is not calculated on the TRA level.
Property Tax Revenue Calculation
By using the information from the Agency Reconciliation Report, the Base Year Value Report, the County file detailing the breakdown of the 1% General Tax Levy and voter approved debt, the lien date roll is extended, and property tax revenue projections are provided for budgeting purposes.
DESCRIPTION OF PROPERTY TAX REPORTS
Non-Residential New Construction
A listing that calculates non-residential growth for increasing a City's Gann Limitation as a result of Proposition 111.
Category Summary
This table summarizes parcels within the city by use code and provides number of parcels, assessed value and property tax information. The report can be also be prepared for Absentee Owned, Pre Prop 13, or special geographic assembly requested by the city.
Category History Graph
This report graphically displays the historical growth by property category and the breakdown of assessed value by major property categories.
Top Secured Property Owner/Taxpayer Summary
These listings are compiled by a computer sort of all parcels owned by the same individual or group of individuals with a common mailing address. This assembly of parcels provides information about the largest overall secured property owners and/or taxpayers. The Top Ten Property Taxpayers includes the percentage of the entire tax levy attributed to a taxpayer as well as the use code and taxing jurisdiction of the property owner.
SBE Listing
The parcels owned by utility companies, which are not used in the production of the utility, are taxed at the normal rate and are listed on this report.
Secured Parcel Change Listing
This listing details the parcels that were dropped or added between roll years.
Sales-Transfer of Ownership
5-Year summary of sales transactions of SFR, properties other than SFR and all properties detailed by Entire City, General Fund and Combined SAs. This report provides the original assessor’s enrolled value of the properties sold, the sales price paid and the differential value expected to be enrolled for the following tax year. Only full valued sales are tracked in this report.
Sales Listing
Detailed report of sales transactions assembled for Sales-Transfer of Ownership summary above.
Sales-Average/Median Price History
Multi-year summary of the average and median sales prices of full value sales for single family residential transactions.
Prepared On 11/21/2012 By MV
Page 36
Appeals Impact Projection (L.A., Orange, Riverside, San Bernardino, San Diego, Solano, Alameda)
City or Agency Top 25 Owner Appeals History
This section takes the current year Top 25 Owners and performs the same analysis, which was executed above to calculate the historical experience of successful appeals files by these owners. In most cases, since the Top 25 Owners own the highest valued parcels, their loss experience and reduced values exceed those of the remainder of the city or redevelopment project area in the analysis.
City or Agency Pending Appeals Impact Projection:
The third section of this report looks at the annual success ratios and based on those ratios, calculates the potential assessed value and tax losses of each years’ pending appeals based on that year’s experience. Since many of the appeals filed in the most current year have not yet been scheduled for hearings, we use the city or agency-wide average for all years to calculate the revenue loss for that year.
Tax Increment Projection
Prior year history and future projections are calculated for redevelopment project areas factoring in pass through-agreements, housing set aside amounts and county administrations fees.
General Fund Spreadsheet
This worksheet assists in developing a projection of general fund revenues. The upper portion of the report includes trending information with regards to annual CPI adjustments, value changes as a result of parcel transfers, the impact of successful appeals (in counties were this data is available) and other value increases/decreases over a six-year period. The lower portion of the table allows for staff input and tax calculation.
The HdL Coren & Cone1340 Valley Vista Drive, Suite 200Diamond Bar, California 91765
Phone: 909.861.4335FAX: 909.861.7726E-Mail: [email protected]
Prepared On 11/21/2012 By MV
Page 37