Menlo mom wonders: Who wins with Prop 13?
Original post made
on Mar 17, 2010
Proposition 13 has been called California's "third rail." But one Menlo Park resident decided to touch it anyway and conducted a parcel-by-parcel investigation. Her conclusion: In her city, homeowners today pay two-thirds of the property-tax burden, up from half in 1978.
Read the full story here Web Link
posted Wednesday, March 17, 2010, 3:44 PM
Posted by Jennifer Bestor
a resident of Menlo Park
on Mar 24, 2010 at 10:33 pm
One of the most interesting things about Menlo Park is that our "main street," Santa Cruz Avenue, was subdivided in such a way as to present almost 80 50x100' lots, which exist in single-, double-, and triple-wide combinations as parcels. Better yet, the parcel maps are available online at www.smcare.org -- go to the Assessor's section and click on Parcel Maps. Then enter "Santa Cruz Avenue" and find a parcel in the 600's or 700's -- it's straightforward from there to find parcels, their sizes, and, in www.sanmateocountytaxcollector.org you can then look up the tax bills for each parcel. You can then even check out the street view on Google maps (though we would love for you to come and have lunch here -- see it for yourself)!
Six parcels you may want to pay particular attention to have retail vacancies right now according to loopnet.com. These are 556, 626, 654, 842, 827, and 871. The available spaces (in sf) are: 2850, 3000, 4231, 1500 (and 3500), 2438, and 7100, respectively. The property tax per sf (including general tax, school parcel tax, high school maint tax, and mosquito abatement) are (per sf): $.25, $2.62, $.74, $.67, $3.26, and $2.50, respectively. The asking prices per sf per year are: $33.60, $30, $42, $31.20, $30, and $33, respectively. All are triple net, except the first, which is full service (tax incl. in basic rental per sf). This is not a large enough sample for statistics, but if you can't resist a correlation coefficient -- it's -.53.
And, the excellent data on the exact breakdown of all Menlo Park's property tax revenues can be found on our City finance website Web Link
On the left-hand side, under "Related Links" you will find the Budget 2009-10. On page 28 (out of 212) you will see the overall breakdown of property tax; on page 24, you will find the subsequent breakdown of the City's portion.
Now, I'm sure you can think of many, many, many more things for me to do ... but ... well, how about you do California Avenue in Palo Alto first, then come and share!