The Mercury Times is quoting Warren Slocum's press release
San Mateo County cities, schools and special districts will receive about $20 million less in 2010-11 because property values have decreased a second straight year, according to data released Thursday by the county assessor's office.
Assessor Warren Slocum blamed "depressed housing and commercial markets and a lagging local economy," and noted that in his 24-year tenure he has never seen a year-to-year decline in assessed property values.
If you read the full article by clicking through, you will see that 65% of the decline "stemmed from assessments of unsecured property, which includes commercial airline property and SFO's aviation and concession interests. But the Times' Insider is on the case by reporting that
On the day that San Francisco Mayor Gavin Newsom joined Gov. Arnold Schwarzenegger and Virgin Group founder Richard Branson for a photo op at SFO to celebrate Virgin America's new route to Toronto, Newsom's office sent out a news release.
It contained the following remarks by San Francisco's likely soon-to-be ex-mayor:
"San Francisco is proud to have Virgin America as its hometown airline," he said in Tuesday's statement. "Over the last few years, they've created hundreds of new jobs, lowered fares and helped make SFO one of the nation's few growing airports."
Last time we checked, Virgin America was based in Burlingame — not San Francisco.
Some whacko judge ruled some time back that the jet fuel that gets pumped at SFO is really being pumped in SF--so they get the tax revenue. Kind of like Crystal Springs Golf course and who knows what else. What a rip-off.
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