San Francisco defends tax money from Giants ballbark
By Elizabeth Daley, Bay City News Service
November 2, 2006
SAN FRANCISCO (BCN) - More than $3.9 million dollars in
tax revenue from China Basin Ballpark Co. LLC was defended for
San Francisco Wednesday when the Assessment Appeals Board approved
a settlement based upon a reassessment of the ballpark's property
The appeals board approved a settlement between the city and
county of San Francisco and the Giants ballpark owners declaring
that AT&T Park was worth $345 million more than ballpark owners
declared over a six-year time period.
Kevin Matthews, spokesman for Ting, said that the appeals board
allows property owners to contest property values if they feel
they are being unfairly taxed.
Matthews said ballpark owners challenged the initial property
value attributed to the ballpark, which resulted in a devaluation
of the property. Matthews said that devaluation was then challenged
by the Assessor-Recorder, resulting in an eventual settlement
between the city and the ballpark for tax years 2001 to 2006.
"The settlement that the AAB approved today is fair and
equitable to the Giants and to the taxpayers of San Francisco.
This settlement underscores my commitment to fight for every tax
dollar in jeopardy," said Assessor-Recorder Phil Ting, who
is running for re election.
While the China Basin Ballpark Co. will still be receiving a
check for approximately $6 million from the city of San Francisco
based upon their initial property reevaluation, according to Matthews,
Ting's office reports Ting's "challenge to the AAB ruling
in Superior Court resulted in the successful defense of $345 million
in disputed valuation and preserved nearly $4 million in disputed
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