Revenue Statistics Redevelopment Agency City of Palm Desert, California
-153-
VA R
MONTEREY AVE
DINAH SHORE DR
NE
R
RD
GERALD FORD DR
GE R
AL RO
L DR EH IL
R EY
W
DR
HOVLEY LN E
RD
COUNTRY CLUB DR
HARRIS LN
HOVLEY LN E
HOVLEY LN E
Project Area No. 4AVENUE OF THE 1993 STATES
CALIFORNIA AVE
TENNESSEE AVE
FRED WARING DR
ELDORADO DR
COOK ST
ER
WASHINGTON ST
ELDORADO DR
COOK ST ST
WAY
ECLECTIC
CORPORATE
IS K
COUNTRY CLUB DR
FRED WARING DR
FAIRWAY DR
UN TA
AR
VAR N
COOK ST
DEEP CANYON RD
DE ANZA WAY
STATE HWY 111
FRED WARING DR
MIL
ES A VE
W
PORTOLA AVE
MO
RD TA M
MERLE DR
ALESSANDRO DR
O
SH A D
CALLE DE LOS CAMPESINOS
R
COOK ST
ED G
DR IN
NE
ELDORADO DR
COOK ST
P OR
PORTOLA AVE
PORTOLA AVE SAN PABLO AVE
WAY
S
ST
FRANK SINATRA DR
Project Area No. 3 AVE 42ND 1991
SA N
T ER PAIN TH PA
SAN PASCUAL AVE
1
TOWN CENTER
HOVLEY LN E
L UI S AV E
1 Y1 PITAHA YA
VA R
OASIS CLUB DR
LA AVE
TO
MONTEREY AVE MONTEREY AVE
HW
EL PASEO
R
AS NS KA T S
TE
SAN GORGONIO WAY
FO
DR
A ST
Project Area No. 1 Original 1975
LD
COUNTRY CLUB DR
RUTLEDGE WAY
FRED WARING DR
RA
Project Area No. 2 1987
MAGNESIA FALLS DR
PARK VIEW DR
GE
D
PORTOLA AVE
R
FRANK SINATRA DR
FRANK SINATRA DR
HOVLEY LN W
DR
WARNER TRL
D FO
D
HAYSTACK RD
PORTOLA AVE
ST A T
EH WY
74
MESA VIEW DR
Project Area No. 1 Added Territory 1982
CAHUILLA WAY
City of Palm Desert
City Limits Project Area No. 1 - Original (1975) Project Area No. 1 - Added Territory (1982)
Redevelopment Agency Project Areas
0
1
Project Area No. 2 (1987) Project Area No. 3 (1991)
Miles
Project Area No. 4 (1993) -154-
November, 2005
2
City of Palm Desert RDA Project Area #1 and 1982 Annex FY 2004/2005 Top Twenty Property Taxpayers
Owner (Number of Parcels)
Assessed Value $
Cumulative %
800,000 sq. ft. Retail Shopping Mall located at 72840 Highway 111.
WEA Palm Desert (6)
$
111,246,161
Desert Crossing (10)
$
66,824,744
13.6% Major Commercial / Shopping Buildings
Gardens SPE II (2)
$
53,836,747
10.9%
Big Horn Development (108)
$
37,622,032
7.6% Recreational / Residential Land Developer
May Department Stores Co (1)
$
23,778,377
4.8% Retail Store in Westfield Mall (Robinson/May)
Federated Western Properties Inc. (4)
$
20,718,286
4.2% Retail Store in Westfield Mall (Macy's)
Dayton Hudson Corp.
$
20,193,169
4.1% Target Discount and Mervyns Retail Stores
KPL Villas
$
19,477,679
4.0% Palm Lake Country Club & Homes(Private)
M & H Realty Partners III
$
13,853,242
2.8%
$
14,842,961
3.0% 198 Suite Hotel
$
13,608,772
2.8% Sears Retail (Westfield Mall)
L. Lee Bosley Trust (3)
$
13,322,970
2.7% Residential Land Bighorn Development
Nationwide Health Properties Inc. (1)
$
11,766,439
2.4% Assissted Living Center
One El Paseo (6)
$
11,175,661
2.3%
Time Warner Entertainment (2) $
10,409,981
2.1% Commercial Shopping Center / C.O.D. College
Town Center Plaza (1)
$
10,277,233
2.1% Comercial Shopping Center-Trader Joe's
JC Penney Properties Inc (3)
$
9,895,501
2.0% Retail Store & Land Westfield Mall (JC Penney)
Bernard Jacques Debonne Trust (7)
$
9,995,786
2.0% Vacant Commercial Land (Village Court)
SKB PTP (3)
$
9,551,405
1.9%
Robert A. Weigel Trust (6)
$
9,450,124
1.9% Commercial Shopping Center & Parking lot
Total Net Assessed Value
$
491,847,270
Felcor Suites Limited Partnership Palm Desert Town Center Associates (1)
22.6%
Business Description
Garden's at El Paseo up-scale retail shopping Center.
Mix Commercial Buildings Best Buy Shopping Center
MIx Commercial/Restaurant Buildings El Paseo West
Commercial Center Palms to Pines Ralphs/Washington Mutual
100%
Source: HdL Coren & Cone and Riv Riverside County Assessor 2004/2005 Combined Tax Rolls
-155-
City of Palm Desert RDA Project Area #2 FY 2004/2005 Top Twenty Property Taxpayers
Owner (Number of Parcels)
Desert Springs Marriott (85)
Assessed Value $
Cumulative %
Business Description
Desert Springs resort 895 room Hotel & Golf Course Time Share Condos/Villas (Shadow Ridge & 15.7% Desert Springs Villas) Marriott Courtyard 151 Room and Residence 6.66% Inn 130 Room Hotels
$
217,507,983
48.8%
Marriott Ownership Resorts Inc $ (4360)
70,209,185
CNL Hospitality Partners(1)
$
29,674,017
Desert Wells 237 (10)
$
24,228,045
5.43% Vacant Commercial Land
Sanderson J. Ray Desert Springs Partnership(18)
$
23,870,563
5.35%
Resort Ventures(32)
$
12,260,557
2.75% Commercial Land
American Realty Inc. Trust (8)
$
11,300,159
2.53% Vacant Commercial Land
BNY Western Trust Co.(42) Manor Healthcare Corporation (1)
$
8,908,576
2.00% Golf Course Timeshares Condominiums
$
8,502,767
1.91% Assissted Living Center
Desert Falls Country Club (6)
$
7,659,095
1.72% Private Golf Course & Homes
Dutt Hospital Group Inc (1)
$
5,501,966
1.23% Hamptonn Inn 88 room Hotel & Suites
Exxon Mobile Corp (2)
$
3,512,904
0.79% Exxon Mobile Service/Gas station
Wells Fargo Bank (14)
$
3,418,430
0.77% Multi Parcel Single Family Homes
SGH Partners (1)
$
3,116,200
0.70% Vacant Commercial Land
Cornerstone Building Joint Venture (4)
$
3,104,153
0.70% Golf Course Timeshares Condominiums
BP West Coast Products (2)
$
2,954,381
0.66% AM/PM Service/Gas Station
Ken P. Miles Trust (1)
$
2,767,086
0.62% Single Family Residence
Joseph D. Preston (1)
$
2,584,084
0.58% Single Family Residence
William M. Kelly Trust (2)
$
2,374,574
0.53% Single Family Residence/Commercial Land
Valley Center Development(1)
$
2,362,000
0.53% Commercial Land - Valley Center Business Park
Total Net Assessed Value
$
445,816,725
Mixed Use shopping Center (Ralphs/ Walgreens)
100%
Source: HdL Coren & Cone and Riverside County Assessor 2004/2005 Combined Tax Rolls
-156-
City of Palm Desert RDA Project Area #3 2004/2005 Top Twenty Property Taxpayers
Owner (Number of Parcels)
Assessed Value $
Cumulative %
Business Description
Multi Family Dwelling (Canterra Apts & Vacant land) Senior Citizens Assissted Living Center(The 11.7% Fountains)
PR XIV (1)
$
30,507,068
21.4%
Fountains Senior Properties of California (1)
$
16,730,122
PD Hovley (1)
$
16,322,297
11.4% Residential Property Mgmgt (Hovley Gardens)
Time Warner Entertainment Advance (2)
$
13,710,974
9.6% Cable Operator (Commercial Office Buildings)
SAG Palm Desert (1)
$
7,880,000
5.5% Industrial Storage Facility
Palm Desert Disposal Services (5)
$
6,071,869
4.3% Industrial Business / Commercial Offices
SMG 17 (1)
$
5,718,808
4.0% Commercial / Industrial Offices (Guthey Renker)
GHA Paloma Group II (95)
$
5,008,399
3.5% Residential Builder/Developer (Venezia)
Cook St Office (1)
$
4,717,093
3.3%
Delmas Jackson Trust (5)
$
4,567,277
3.2% Industrial Business / Commercial Offices
Waste Management Inc. (2)
$
3,262,268
2.3% Refuse Collection Base / Industrial Offices
Lakeside Properties Inc. (5)
$
4,309,663
3.0% Mix Use Industrial/Commercial Buildings/Stores
Stor N Lock Partners 16 (1)
$
3,570,021
2.5% Storage Facility (Stor-n-Lock)
WR XVIII i (1)
$
3,417,932
2.4% Vacant Commercial Land
Cold Call Cowboy Productions (2)
$
2,877,828
2.0% Industrial / Manufacturing Buildings
St. Charles Partnership (4)
$
3,235,804
2.3% Industrial / Manufacturing Buildings
Gulf California Broadcast Co. (2)
$
2,217,654
1.6% Split Parcel Vacant Commercial Land
We Trust (1)
$
2,950,000
2.1% Industrial Business / Commercial Offices
Bruce Alan Kaplan Trust (1)
$
2,908,752
2.0% Industrial Storage Facility
Melanie Place Partners (1)
$
2,882,462
2.0%
Total Net Assessed Value
$
142,866,291
100%
Business / Commercial Offices (Corner of Cook/Hovley St)
Split Parcel Industrial Business / Commercial Offices
Source: HdL Coren & Cone and Riverside County Assessor 2004/2005 Combined Tax Rolls
-157-
City of Palm Desert RDA Project Area #4 2004/2005 Top Twenty Property Taxpayers
Owner (Number of Parcels)
Assessed Value $
Cumulative %
Business Description
Ashford Park Holdings (1)
$
26,742,879
22.2% Multi-Family Dwellings (Desert Oasis Apts)
Indian Ridge C.C. Inc.(69)
$
21,587,886
17.9% Indian Ridge Golf Course & Homes (Private)
Cherokee Investment (2)
$
12,000,000
9.9% Storage Facility (Sure Save Storage)
Palm Desert SPE (4)
$
11,384,104
9.4% Multi-Family Dwellings (Palm Desert Apts)
PD Villas on the Green (1)
$
7,320,900
6.1%
$
6,147,879
5.1% Woodhaven Golf Course & Homes (Private)
$
4,477,206
3.7% Palm Desert C.C. Golf Course & Clubhouse
SR Mutual Investment Corp.(6) $
4,361,573
3.6% Palm Desert Resort Golf Course & Clubhouse
Brittany Royal Palms Limited Partnership (4)
$
4,049,330
3.4% Multi-Family Dwellings (Royal Palms Apts)
Cypress Estates (8)
$
3,577,501
3.0% Single Family Residences
Sandra L. Heming Trust (2)
$
2,377,399
2.0% 2 Single Family Residences (Indian Ridge C.C.)
Avco Financial Services Southern Cal (78)
$
2,184,000
1.8%
Keith B. Thomspon (2)
$
2,167,522
Michael A. Kahn (2)
$
2,041,649
1.7% 2 Single Family Residences (Indian Ridge C.C.)
Mobil Oil Corporation (2)
$
2,026,023
1.7%
Michael J. Adams (1)
$
1,803,045
1.5% Single Family Residence (Indian Ridge C.C.)
Edward R. Chiuminatta (1)
$
1,722,213
1.4% Single Family Residence (Indian Ridge C.C.)
Leonard Schnitzer Trust (1)
$
1,678,054
1.4% Single Family Residence (Indian Ridge C.C.)
Raymond Gosselin (1)
$
1,560,071
1.3% Multi-Family Dwellings (Sun Dunes Villas)
P. Randall Ziehurt Trust (1)
$
1,506,612
1.2% Single Family Residence (Indian Ridge C.C.)
Total Net Assessed Value
$
120,715,846
Woodhaven Developers Inc. (13) Dahoon Investment Co. Inc. (22)
Multi-Family Dwellings (Villas on th Green, 55+Apts)
Multi-Family Dwellings (California Villas) PD RDA Single Family Residence & Condominium 1.8% (Indian Ridge C.C.)
Mobil Service/Gas Station & Adjacent Commercial Land
100%
Source: HdL Coren & Cone and Riverside County Assessor 2004/2005 Combined Tax Rolls
-158-
City of Palm Desert
Project Area Statistics June 30, 2005 Description
RDA 1 Original
Date Project Area was Established Most Recent Amendment Date Established Time Limits: -Repayment of Indebtedness -Project Duration -Last Date to incur indebtedness Debt Limits (1) Tax Increment Limit Types of Area in Project
Acreage Size of Project Area
RDA 1 1982 Annex
RDA 2
RDA 3
RDA 4
07/16/75
11/25/81
07/15/87
07/17/91
07/19/93
02/27/03
02/27/03
02/27/03
02/26/04
02/26/04
7/16/2026
11/25/2032
7/15/2038
7/17/2042
7/19/2044
7/16/2016
11/25/2022
7/15/2028
7/17/2032
7/19/2034
Repealed
Repealed
none
$ 200,000,000
$
150,000,000
$
100,000,000
$ 135,000,000
$ 758,000,000
$ 500,000,000
$
800,000,000
$
360,000,000
$ 600,000,000
R, C, P
R, C, P 580
Repealed
R, C, P, O 5,240
Repealed
R, I, C, P 2,927
Repealed
R, I, C, P 764
R = Residential, C= Commercial, P= Public Facilities, I= Industrial, O= Other (1) Figures are unadjusted and should be annually adjusted by Consumers Price Index set by the Bureau of Labor Statistics
Source: Palm Desert Redevelopment Agency
-159-
2,260
City of Palm Desert
Redevelopment Agency Tax Allocation Bond Issue Information June 30, 2005
$71,955,000 Tax Allocation Bonds
DESCRIPTION Years Bond Issue Date Final Maturity Date Highest Interest Rate Bond Issue Amount Outstanding Bond Amount Call Premium Bond Insurer Reserve Requirement (1) Reserve Balance (1) Called Bonds Principal Due 05/06 Interest Due 05/06 Arbritage Yield Rate
$ $
$
Arbritage-Amount Owed
25 07/24/97 04/01/23 5.625% 71,955,000 59,540,000 0 - 2.00% MBIA 5,126,790 (1) 0 2,025,000 3,205,899 5.4584% -
Arbritage Five Year Due Date:
-
04/01/02
PROJECT AREA #3
$4,745,000 Tax Allocation Bonds
DESCRIPTION Years Bond Issue Date Final Maturity Date Highest Interest Rate Bond Issue Amount Outstanding Bond Amount Call Premium Bond Insurer Reserve Requirement (1) Reserve Balance (1) Called Bonds Principal Due 05/06 Interest Due 05/06 Arbritage Yield Rate
PROJECT AREA #1 $22,070,000 $19,000,000 $24,945,000 Tax Allocation Tax Allocation Tax Allocation Bonds Bonds Bonds 28 27 21 03/13/02 08/05/03 06/24/04 04/01/30 04/01/30 04/01/25 5.100% 5.000% 5.000% $ 22,070,000 $ 19,000,000 $ 24,945,000 $ 22,070,000 $ 19,000,000 $ 24,450,000 0 - 2.00% 0.00% 0.00% MBIA MBIA AMBAC 2,804,344 950,000 2,430,750 (1) (1) (1) $ 0 $ 0 $ 0 0 0 855,000 1,114,665 950,000 1,123,063 5.2939% 4.8571% 4.7961%
$ $
$
30 08/05/03 04/01/33 5.13% 4,745,000 4,500,000 2.00% MBIA 297,953 (1) 0 90,000 204,298 4.9358%
04/13/07
-
-
PROJECT AREA #2 $17,310,000 $4,090,000 $15,745,000 Tax Allocation Tax Allocation Tax Allocation Revenue Bonds Revenue Bonds Revenue Bonds 20 30 30 07/17/02 06/01/95 03/26/03 08/01/22 08/01/25 08/01/33 5.000% 5.20% 5.00% $ 17,310,000 $ 4,090,000 $ 15,745,000 $ 16,000,000 $ 3,905,000 $ 15,745,000 0 - 2.00% 0 - 2.00% 1 - 2.00% MBIA MBIA MBIA 1,339,150 343,900 769,006 (1) (1) (1) $ 0 $ 0 $ 0 690,000 35,000 0 690,188 229,795 769,006 4.7043% 6.0485% 4.9502% -
-
08/05/08
06/24/09
07/17/07
06/14/00
PROJECT AREA #4 $11,020,000 $15,695,000 Tax Allocation Tax Allocation Revenue Bonds Revenue 30 30 03/01/98 11/28/01 10/01/28 10/01/31 5.00% 4.80% $ 11,020,000 $ 15,695,000 $ 10,370,000 $ 15,235,000 0 - 2.00% 0 - 2.00% MBIA MBIA 768,020 965,780 (1) (1) $ 0 $ 0 230,000 170,000 520,415 690,825 5.2271% 4.9464%
$48,760,000 Tax Allocation Revenue Bonds 30 01/01/98 10/01/27 5.10% $ 48,760,000 $ 45,670,000 0 - 2.00% MBIA 3,625,950 (1) $ 0 590,000 2,277,410 5.1343%
HOUSING FUND $6,305,000 Tax Allocation Revenue Bonds 13 08/01/95 09/01/08 5.55% $ 6,305,000 $ 2,375,000 0 - 2.00% MBIA 630,500 762,971 $ 0 555,000 113,378 5.2231%
$12,100,000 Tax Allocation Revenue Bonds 30 09/05/02 10/01/31 4.90% $ 12,100,000 $ 11,625,000 1 - 2.00% MBIA 779,250 (1) $ 0 245,000 521,025 4.8290%
10/01/02
09/01/04
09/05/07
Arbritage-Amount Owed Arbritage Five Year Due Date:
08/05/08
10/01/02
11/28/06
(1) A surety bond was issued by MBIA Insurance, future reserve balance's will be zero.
Source: City of Palm Desert and Redevelopment Agency
-160-
03/26/08
City of Palm Desert
FY 2004/2005 Breakdown of Basic 1% Property Tax Levy Rates Redevelopment Project Areas Rate Taxing Agency
RDA 1 Original
RDA 1 1982 Annex
RDA 2
RDA 3
RDA 4
County General
28.39891082%
28.32317933%
27.0596412%
25.0233013%
21.92521618%
County Library
2.74968243%
2.88908314%
2.9037284%
2.81763140%
2.83042095%
County Fire
5.91924877%
6.21933707%
6.2508566%
6.06552360%
6.09304800%
City of Indian Wells Annex
0.00000000%
0.00000814%
0.00000000%
0.00000000%
0.00000000%
Supervisor Road District 4
0.00000000%
0.00007768%
0.00000000%
0.00000000%
0.00000000%
City of Palm Desert
0.00000000%
2.24088682%
3.67007010%
4.9428936%
8.64579644%
Rancho Mirage Library
0.00000000%
0.01618088%
0.00000000%
0.00000000%
0.00000000%
Rancho Mirage Fire Asmt.
0.00000000%
0.03483260%
0.00000000%
0.00000000%
0.00000000%
Desert Sands Unified School District
36.50631474%
36.85374627%
27.7181829%
37.4084679%
37.57820967%
Palm Springs Unified School District
0.00000000%
0.00000000%
7.8866794%
0.00000000%
0.00000000%
Desert Community College
7.58587528%
8.04974434%
8.0108507%
7.7733361%
7.80862031%
County Superintendent of Schools
4.12710357%
4.37947273%
4.3583137%
4.2290907%
4.24829293%
Riverside County Reg. Park & Open Space
0.42955731%
0.42956825%
0.4093228%
0.3785101%
0.44219783%
Rancho Mirage Community Service
0.00000000%
0.00000000%
0.00000000%
0.0000000%
0.00000000%
Coachella Valley Public Cemetary
0.34259341%
0.29868698%
0.2601245%
0.3510551%
0.35266039%
Palm Springs Public Cemetary
0.00000000%
0.02983535%
0.0467675%
0.0000000%
0.00000000%
Desert Hospital
2.01249888%
1.33102559%
1.7452476%
0.9259610%
0.00000000%
Coachella Valley Mosquito & Vector Control
1.38045951%
1.46487454%
1.4577986%
1.4145696%
1.42099925%
Coachella Valley Recreation & Park
2.08790283%
1.82031378%
1.5852876%
2.1394978%
2.14920896%
Coachella Valley Water District
2.75811342%
2.92572740%
2.9126313%
2.8262713%
2.83910411%
Coachella Valley Resource Cons.
2.21018765%
0.02082923%
0.0373406%
0.0313694%
0.03639607%
PDRDA Redevlopment 82 Annex
0.00000000%
0.96176542%
0.0000000%
0.0946893%
0.03576396%
Coachella Valley Water District Storm Water Unit
3.49155138%
1.71082447%
3.6871567%
3.5778316%
3.59406494%
ERAF RDV
0.00000000%
0.00000000%
0.00000000%
0.00000000%
0.00000000%
100.00000000%
100.00000000%
General Purpose Basic 1% Rate
100.00000000% 100.00000000% 100.00000000%
Source: Palm Desert Redevelopment Agency, Tax Increment Calculations & County of Riverside
-161-
City of Palm Desert
Historical Tax Increment Summary Redevelopment Project Area #1 - Original Last Ten Fiscal Years
FY Secured/Unsecured
2004/2005 $
2003/2004
7,406,602
$
2002/2003
6,934,754
$
2001/2002
6,503,515
$
2000/2001
6,360,760
$
6,199,196
Supplemental - PY Supplemental - CY
200,879
151,075
49,849
104,267
140,667
SBE (Utility)
300,931
297,098
288,489
285,323
292,520
7,908,412
7,382,927
6,841,853
6,750,350
6,632,383
(1,561,352)
(1,455,810)
(1,348,011)
(1,328,643)
(1,305,693)
6,347,059
5,927,117
5,493,842
5,421,707
5,326,690
Total Gross Increment Low/Mod Housing Set Aside Tax Increment Less Low/Mod Total Pass-Throughs (1)
(279,854)
(316,366)
(696,443)
(922,984)
SB 2557 Charges
(101,653)
(103,877)
(101,797)
(107,137)
Net Tax Increment Agency (2)
$
FY Secured/Unsecured
5,965,552
$
1999/2000 $
5,506,874
$
1998/1999
5,549,207
$
4,695,602
$
1997/1998
5,484,253
$
4,391,586
0 (103,919) $
1996/1997
5,341,708
$
5,222,771
1995/1996
5,185,911
$
5,098,516
Supplemental - PY
29
0
205,722
138,806
Supplemental - CY
58,920
0
0
0
65
332,579
322,956
331,955
324,173
329,675
5,940,736
5,807,209
5,879,386
5,648,890
5,425,394
(1,168,457)
(1,161,442)
(1,293,465)
(1,242,756)
(1,193,587)
4,772,279
4,645,767
4,585,921
4,406,134
4,231,807
0
0
0
0
0
SBE (Utility) Total Gross Increment Low/Mod Housing Set Aside Tax Increment Less Low/Mod Total Pass-Throughs (1) SB 2557 Charges
(98,451)
Net Tax Increment Agency (2)
$
4,673,828
(104,485) $
4,541,282
(62,056) $
4,523,865
(2,862)
(105,440) $
4,300,694
(93,751) $
4,138,057
Percentage represents change from prior year.
$7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0
8.33%
2004/2005
17.28%
2003/2004
6.92%
2002/2003
11.75% -15.91%
2001/2002
(1) RDA Project Area 1 does not have Total Pass-Throughs with the exception of FY 1991/92. (2) Net Tax Increment Agency does not include Debt Service payments. Sources: City of Palm Desert, Tax Increment Calculations & County of Riverside
-162-
2000/2001
City of Palm Desert
Historical Tax Increment Summary Redevelopment Project Area # 1 - Amended Last Ten Fiscal Years FY Secured/Unsecured
2004/2005 $
2003/2004
27,778,894
$
2002/2003
25,247,194
$
2001/2002
22,967,677
$
2000/2001
19,826,224
$
15,969,365
Supplemental - PY
0
0
0
0
0
Supplemental - CY
1,502,190
886,454
910,786
2,011,351
1,352,695
142,166
144,829
136,296
134,804
138,207
Total Gross Increment
29,423,250
26,278,477
24,014,759
21,972,379
17,460,268
Low/Mod Housing Set Aside
(5,811,002)
(5,182,761)
(4,733,721)
(4,330,166)
(3,440,490)
Tax Increment Less Low/Mod
23,612,248
21,095,716
19,281,038
17,642,213
14,019,778
(13,463,639)
(11,740,730)
(10,523,374)
(9,583,446)
(7,339,195)
(368,240)
(364,672)
(346,155)
(321,551)
(257,820)
SBE (Utility)
Total Pass-Throughs SB 2557 Charges Net Tax Increment Agency (1)
$
FY Secured/Unsecured
9,780,369
$
1999/2000 $
8,990,314
$
1998/1999
12,683,176
$
8,411,509
$
1997/1998
11,791,667
$
7,737,217
$
1996/1997
11,283,027
$
6,422,763
1995/1996
10,962,401
$
10,897,657
Supplemental - PY
399,222
91,071
37,518
(20,053)
68,683
Supplemental - CY
480,210
0
0
0
10,590
SBE (Utility)
152,108
142,885
146,870
135,100
137,394
Total Gross Increment
13,714,716
12,025,622
11,467,415
11,077,448
11,114,324
Low/Mod Housing Set Aside
(2,699,974)
(2,405,124)
(2,293,483)
(2,215,490)
(2,222,865)
Tax Increment Less Low/Mod
11,014,742
9,620,498
9,173,932
8,861,958
8,891,459
Total Pass-Throughs
(4,598,001)
(3,966,585)
(3,732,310)
(3,605,208)
(3,617,219)
(214,847)
(214,426)
(123,390)
(219,533)
(198,731)
SB 2557 Charges Net Tax Increment Agency (1)
$
6,201,894
$
5,439,487
$
5,318,232
$
5,037,218
$
5,075,509
Percentage represents change from prior year. $12,000,000
8.79%
6.88% 8.71%
$10,000,000
20.47% 3.56%
$8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 2004/2005 (1) Data for SB 2557 Charges is available from2003/2004 FY 1990/91.
2002/2003
2001/2002
(1) Net Tax Increment Agency does not include Debt Service payments.
Sources: City of Palm Desert, Tax Increment Calculations Worksheets & County of Riverside -163-
2000/2001
City of Palm Desert
Historical Tax Increment Summary Redevelopment Project Area # 2 Last Ten Fiscal Years FY Secured/Unsecured
2004/2005 $
2003/2004
12,629,958
$
2002/2003
11,717,869
$
10,422,746
2001/2002 $
2000/2001
8,575,348
$
7,816,649
Supplemental - PY Supplemental - CY
698,023
812,847
548,517
257,896
391,197
23,747
25,689
22,768
22,519
23,088
Total Gross Increment
13,351,728
12,556,405
10,994,031
8,855,763
8,230,934
Low/Mod Housing Set Aside
(2,636,969)
(2,477,550)
(2,167,507)
(1,743,454)
(1,621,091)
Tax Increment Less Low/Mod
10,714,759
10,078,855
8,826,524
7,112,309
6,609,843
Total Pass-Throughs
(5,459,600)
(4,683,769)
(4,320,158)
(3,296,575)
(2,790,025)
(166,884)
(168,655)
(156,494)
(138,491)
(125,482)
SBE (Utility)
SB 2557 Charges Net Tax Increment Agency (1)
$
FY Secured/Unsecured
5,088,275
$
1999/2000 $
5,226,431
1998/1999
7,120,210
$
6,330,882
151,051
312,878
Supplemental - CY
93,861
0
SBE (Utility)
25,187
21,385
7,390,309
Low/Mod Housing Set Aside Tax Increment Less Low/Mod Total Pass-Throughs SB 2557 Charges Net Tax Increment Agency (1)
$
4,349,872
$
1997/1998
Supplemental - PY
Total Gross Increment
$
$
5,899,166
3,677,242
$
1996/1997 $
1995/1996
5,377,930
$
74,933
0
5,019
21,982
16,653
16,936
6,665,145
6,108,774
5,459,805
5,113,949
(1,454,141)
(1,333,029)
(1,221,755)
(1,091,961)
(1,022,790)
5,936,168
5,332,116
4,887,019
4,367,844
4,091,160
(2,423,175)
(2,152,320)
(1,913,246)
(1,702,484)
(1,586,470)
(119,606)
(114,107)
(80,229)
(70,875)
(60,172)
$
3,065,689
$
2,893,544
$
2,594,485
$
Percentage represents change from prior year. $6,000,000
-2.64%
20.15%
$5,000,000
18.29%
$4,000,000
-0.46%
8.87%
$3,000,000 $2,000,000 $1,000,000 $0 2004/2005
5,017,061
65,221
3,393,387
187,627
3,694,336
2003/2004
2002/2003
(1) Net Tax Increment Agency does not include Debt Service payments. Sources: City of Palm Desert, Tax Increment Calculations Worksheets -164-
2001/2002
2000/2001
2,444,518
City of Palm Desert
Historical Tax Increment Summary Redevelopment Project Area #3 Last Ten Fiscal Years FY Secured/Unsecured
2004/2005 $
2003/2004
2,137,750
$
2,040,874
2002/2003 $
2001/2002
1,359,556
$
2000/01
1,204,009
$
1,028,201
Supplemental - PY
0
Supplemental - CY
261,674
150,716
79,744
130,497
47,444
763
1,001
731
723
742
2,400,187
2,192,591
1,440,031
1,335,229
1,076,387
SBE (Utility) Total Gross Increment Low/Mod Housing Set Aside
(474,397)
Tax Increment Less Low/Mod
(432,653)
1,925,790
(283,930)
1,759,938
(263,165)
1,156,101
(211,984)
1,072,064
864,403
Total Pass-Throughs
(1,197,599)
(899,766)
(448,489)
(183,986)
(548,192)
SB 2557 Charges (1)
(28,204)
(29,324)
(20,379)
(19,405)
(16,469)
Net Tax Increment Agency
$
FY Secured/Unsecured
699,987
$
1999/2000 $
854,991
Supplemental - PY
1,764
Supplemental - CY
14,199
SBE (Utility)
830,848
$
1998/99 $
677,494
687,233
$
1997/98 $
37,064
868,673
$
1996/97
610,197
$
299,742
1995/96
520,342
$
539,001
6,959
31,702
8,546
0
0
2,857
908
538
553
121
123
871,862
715,096
617,709
552,166
550,528
(171,507)
(143,019)
(123,542)
(110,433)
(110,106)
700,355
572,077
494,167
441,732
440,422
Total Pass-Throughs
(519,921)
(660,139)
(642,855)
(77,212)
(76,976)
SB 2557 Charges (1)
(14,327)
(12,181)
(7,329)
(10,789)
(7,856)
(156,017) $
353,731
Total Gross Increment Low/Mod Housing Set Aside Tax Increment Less Low/Mod
Net Tax Increment Agency (2)
$
166,107
$
(100,243) $
$
355,591
Percentage represents change from prior year. $1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0
189.81 %
20.90 % -15.75 %
-20.89 %
80.45%
2004/2005
2003/2004
2002/2003
2001/2002
2000/01
(1) Data for SB 2557 Charges is available from FY 1993/94. (2) Negative Tax Increment for FY 1997/98 and FY 1998/99 due to Regional Access Project pass through, prior year tax increment used to cover deficit. Sources: City of Palm Desert, Tax Increment Calculations Worksheets
-165-
City of Palm Desert
Historical Tax Increment Summary Redevelopment Project Area # 4 Last Ten Fiscal Years
FY Secured/Unsecured
2004/2005 $
2003/2004
9,017,457
$
2002/2003
8,044,541
$
2001/2002
7,275,223
$
6,205,401
Supplemental - PY Supplemental - CY
2000/2001 $
4,612,165
0
0
694,864
318,307
411,994
854,021
829,389
2,036
3,641
1,952
1,930
1,979
9,714,357
8,366,489
7,689,169
7,061,353
5,443,533
(1,919,081)
(1,650,181)
(1,516,029)
(1,392,274)
(1,073,936)
7,795,276
6,716,308
6,173,140
5,669,078
4,369,597
Total Pass-Throughs
(5,145,220)
(3,569,212)
(3,863,556)
(3,747,180)
(3,640,563)
SB 2557 Charges (1)
(118,954)
(115,583)
(109,024)
(99,981)
(73,853)
SBE (Utility) Total Gross Increment Low/Mod Housing Set Aside Tax Increment Less Low/Mod
Net Tax Increment Agency
$
FY Secured/Unsecured
2,531,102
$
1999/2000 $
3,031,513
$
1998/1999
3,293,418
$
2,200,560
$
1997/1998
1,981,390
$
1,821,917
1996/1997
1,427,671
$
$
655,182
1995/1996
1,102,951
$
1,085,326
Supplemental - PY
449,268
455,457
80,639
49,662
139,262
Supplemental - CY
578,194
0
0
0
10,592
2,117
1,044
1,073
0
0
4,322,997
2,437,892
1,509,383
1,152,613
1,235,180
SBE (Utility) Total Gross Increment Low/Mod Housing Set Aside
(853,567)
Tax Increment Less Low/Mod
(487,578)
(301,877)
(247,036)
922,090
988,144
3,469,430
1,950,314
Total Pass-Throughs
(2,856,325)
(1,312,022)
(811,613)
(619,829)
(664,019)
SB 2557 Charges (1)
(55,164)
(35,617)
(20,230)
(21,723)
(14,214)
Net Tax Increment Agency
$
557,941
$
602,675
1,207,506
(230,523)
$
375,663
$
280,538
$
Percentage represents change from prior year.
$3,500,000 $3,000,000
37.76% -16.51% 20.78%
$2,500,000
178.08%
$2,000,000 $1,500,000 $1,000,000
17.43%
$500,000 $0 2004/2005
2003/2004
2002/2003
2001/2002
(1) Data for SB 2557 Charges is available from FY 1995/96.
Source: Palm Desert Redevelopment Agency, Tax Increment Calculations & County of Riverside -166-
2000/2001
309,911
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-167-
City of Palm Desert
Historical Net Assessed Taxable Values Redevelopment Project Area # 1 - Original Last Ten Fiscal Years FY Secured: (1) Land Improvements Personal Property Penalty Less Other Exempt Less Home Owner Value Less B Inv. Value
2004/2005 $
Total Net Assessed Taxable Secured Value Unsecured: Land Improvements Personal Property Penalty Less Other Exempt
$
FY
Total Net Assessed Taxable Secured Value
2000/2001
175,028,644 $ 403,984,613 3,290,180 0 0 (75,600) 0
171,440,095 $ 389,716,686 3,824,393 2,536 0 (70,000) 0
167,254,618 381,168,647 4,621,105 61,938 0 (49,000) 0
665,731,196
614,028,002
582,227,837
564,913,710
553,057,308
174,128 52,581,364 54,158,601 0 (57,842)
768,076,023
106,856,251 $
1999/2000 $
2001/2002
180,571,588 $ 430,563,506 2,970,008 0 (100) (77,000) 0
102,344,827
Total Net Assessed Taxable Value
2002/2003
193,066,855 $ 468,555,559 4,909,559 0 (730,777) (70,000) 0
156,701 51,133,704 51,093,465 0 (39,043)
Total Net Assessed Taxable Unsecured Value
Secured: (1) Land Improvements Personal Property Penalty Less Other Exempt Less Home Owner Value Less B Inv. Value
2003/2004
720,884,253
$
1998/1999
201,461 48,916,729 46,472,846 0 (57,121)
229,626 52,533,594 44,331,125 1,592,700 (58,570)
191,925 47,281,799 44,847,382 2,089,768 (61,394)
95,533,915
98,628,475
94,349,480
677,761,752
$
1997/1998
663,542,185
$
1996/1997
647,406,788
1995/1996
157,749,660 $ 342,048,525 3,958,876 24,969 0 (56,000) 0
158,233,158 $ 335,487,546 4,284,839 55,034 0 (35,000) 0
152,360,397 $ 331,532,883 3,805,452 7,011 0 (28,000) 0
162,089,396 $ 310,347,856 3,563,026 22,855 0 (28,000) 0
159,585,014 306,158,845 3,832,650 45,785 0 (28,000) 0
503,726,030
498,025,577
487,677,743
475,995,133
469,594,294
Unsecured: Land Improvements Personal Property Penalty Less Other Exempt
211,902 44,481,799 33,234,094 735,012 (38,283)
225,314 43,198,389 33,519,839 748,851 (69,264)
50,747 37,357,588 35,834,338 766,233 (58,072)
47,559 37,898,413 31,172,730 585,341 (50,241)
251,002 36,344,372 29,870,330 902,426 (69,094)
Total Net Assessed Taxable Unsecured Value
78,624,524
77,623,129
73,950,834
69,653,802
67,299,036
Total Net Assessed Taxable Value
$
582,350,554
(1) Secured values include State assessed data.
Source: County of Riverside, County Auditor Controller, Assessed Valuations
-168-
$
575,648,706
$
561,628,577
$
545,648,935
$
536,893,330
City of Palm Desert
Change in Taxable Values Redevelopment Project Area # 1 - Original 2004/2005 versus 2003/2004 FY Secured: (1) Land Improvements Personal Property Penalty Less Other Exempt Less Home Owner Value Total Net Assessed Taxable Secured Value Unsecured: Land Improvements Personal Property Penalty Less Other Exempt
2004/2005
2003/2004
% Change
$
193,066,855
$
180,571,588
6.9%
$
468,555,559
$
430,563,506
8.8%
$
4,909,559
$
2,970,008
65.3%
$
0
$
0
0.0%
$
(730,777) $
(100)
$
(70,000) $
(77,000)
730677.0% -9.1% 8.4%
$
665,731,196
$
614,028,002
$
156,701
$
174,128
-10.0%
$
51,133,704
$
52,581,364
-2.8%
$
51,093,465
$
54,158,601
-5.7%
$
0
$
0
0.0%
$
(39,043) $
(57,842)
-32.5%
Total Net Assessed Taxable Unsecured Value
$
102,344,827
$
106,856,251
-4.2%
Total Net Assessed Taxable Value
$
768,076,023
$
720,884,253
6.5%
(1) Secured values include State assessed data.
Source: County of Riverside, County Auditor Controller, Assessed Valuations
-169-
City of Palm Desert
Historical Net Assessed Taxable Values Redevelopment Project Area # 1 - Amended Last Ten Fiscal Years
FY Secured: (1) Land Improvements Personal Property Penalty Less Other Exempt Less Home Owner Value Less B Inv. Value
2004/2005 $
Total Net Assessed Taxable Secured Value
1,099,974,404 2,322,285,503
$
Total Net Assessed Taxable Unsecured Value Total Net Assessed Taxable Value
$
FY
Total Net Assessed Taxable Secured Value
$
2001/2002
964,043,115 1,966,604,300
$
887,797,124 1,742,745,364
4,080,748
3,722,255
4,822,804
4,009,942
0
0
0
31,999
2000/2001 $
746,195,135 1,493,036,846 3,266,563 159,145
(72,356,678)
(50,011,055)
(50,251,474)
(55,711,920)
(47,407,077)
(31,114,156) 0
(30,819,292) 0
(28,898,212) 0
(28,025,997) 0
(27,838,129) 0
3,070,181,212
2,856,320,533
2,550,846,512
2,167,412,483
1,449
9,581
135,778
143,855
52,422
33,165,394
32,087,933
29,960,052
26,976,720
27,217,181
53,234,502 0 (6,430,836)
56,477,588 0 (8,791,155)
46,150,607 0 (8,632,424)
42,134,507 494,612 (9,613,037)
40,144,238 673,565 (10,316,419)
79,970,509
79,783,947
67,614,013
60,136,657
57,770,987
3,402,840,330
$
1999/2000 $
2002/2003
1,037,831,772 2,109,457,532
3,322,869,821
Unsecured: Land Improvements Personal Property Penalty Less Other Exempt
Secured: (1) Land Improvements Personal Property Penalty Less Other Exempt Less Home Owner Value Less B Inv. Value
2003/2004
631,896,282 1,292,074,218
3,149,965,159
$
1998/1999 $
607,328,618 1,230,571,559
2,923,934,546
$
1997/1998 $
598,056,040 1,194,367,177
2,610,983,169
$
1996/1997 $
593,084,678 1,169,643,780
2,225,183,470
1995/1996 $
589,033,586 1,174,332,339
1,984,406 37,717 (46,013,692)
1,632,328 54,377 (44,781,911)
1,581,739 26,687 (43,778,024)
1,533,185 41,966 (43,171,518)
1,495,546 87,352 (42,783,930)
(27,464,787) 0
(28,135,860) 0
(28,427,000) 0
(28,142,400) 0
(27,488,800) 0
1,852,514,144
1,766,669,111
1,721,826,619
1,692,989,691
1,694,676,093
Unsecured: Land Improvements Personal Property Penalty Less Other Exempt
20,563,813 29,967,514 181,234 (6,335,363)
15,262,873 26,532,412 592,583 (1,377,178)
14,561,036 23,804,436 419,541 (5,328,832)
14,135,932 20,336,143 49,945 (3,957,847)
10,207,099 16,513,405 837,205 (4,890,796)
Total Net Assessed Taxable Unsecured Value
44,423,681
41,180,344
34,234,182
31,173,111
23,258,810
Total Net Assessed Taxable Value
46,483
$
1,896,937,825
169,654
$
(1) Secured values include State assessed data.
Source: County of Riverside, County Auditor Controller, Assessed Valuations
-170-
1,807,849,455
778,001
$
1,756,060,801
608,938
$
1,724,162,802
591,897
$
1,717,934,903
City of Palm Desert
Change in Taxable Value Redevelopment Project Area # 1 - Amended 2004/2005 versus 2003/2004 FY
2004/2005
Secured: (1) Land Improvements Personal Property Penalty Less Other Exempt Less Home Owner Value Total Net Assessed Taxable Secured Value
$
Unsecured: Land Improvements Personal Property Penalty Less Other Exempt
2003/2004
% Change
$
1,099,974,404
$
1,037,831,772
6.0%
$
2,322,285,503
$
2,109,457,532
10.1%
$
4,080,748
$
3,722,255
9.6%
$
0
$
0
0.0%
$
(72,356,678) $
(50,011,055)
44.7%
$
(31,114,156) $
(30,819,292)
1.0%
3,322,869,821
$
3,070,181,212
8.2%
$
1,449
$
9,581
$
33,165,394
$
32,087,933
3.4%
$
53,234,502
$
56,477,588
-5.7%
$
0
$
0
0.0%
$
(6,430,836) $
(8,791,155)
-26.8%
Total Net Assessed Taxable Unsecured Value
$
79,970,509
$
79,783,947
0.2%
Total Net Assessed Taxable Value
$
3,402,840,330
$
3,149,965,159
8.0%
(1) Secured values include State assessed data.
Source: County of Riverside, County Auditor Controller, Assessed Valuations
-171-
-84.9%
City of Palm Desert
Historical Net Assessed Taxable Values Redevelopment Project Area # 2 Last Ten Fiscal Years
FY Secured: (1) Land Improvements Personal Property Penalty (2) Less Other Exempt Less Home Owner Value Less B Inv. Value
2004/2005 $
Total Net Assessed Taxable Secured Value Unsecured: Land Improvements Personal Property Penalty Total Net Assessed Taxable Unsecured Value Total Net Assessed Taxable Value
$
FY Secured: (1) Land Improvements Personal Property Penalty (2) Less Other Exempt Less Home Owner Value Less B Inv. Value
2003/2004
377,500,739 964,730,831
$
338,504,943 915,313,076
$
2001/2002
298,852,366 830,436,695
$
2000/2001
268,700,076 675,455,198
$
254,353,602 615,751,576
8,309,969 0
7,136,535 0
7,539,988 0
6,840,530 0
6,545,424 0
(3,133,357)
(2,979,597)
(2,823,135)
(2,767,781)
(1,213,512)
(3,689,000)
(3,316,600)
(2,853,200)
(2,639,000)
(2,623,600)
0
0
0
0
0
1,343,719,182
1,254,658,357
1,131,152,714
945,589,023
872,813,490
0
0
0
0
0
3,853,947 13,891,105
4,482,615 11,486,746
2,799,545 7,626,600
2,910,472 8,438,055
2,417,234 5,921,587
0
0
0
115,676
46,458
17,745,052
15,969,361
10,426,145
11,464,203
8,385,279
1,361,464,234
$
1999/2000 $
2002/2003
1,270,627,718
$
1998/1999
241,562,963 557,262,592 10,603,177
$
$
1997/1998
221,877,005 502,284,327 6,563,588
$
75,371 (1,168,077) (2,403,800)
(1,189,719) (2,522,800)
1,141,578,859
957,053,226
$
1996/1997
210,387,922 469,021,627 7,699,828
$
0 (1,245,174) (2,219,000)
881,198,769
1995/1996
197,557,269 433,210,966 4,367,066
$
0 (1,222,721) (2,023,000)
187,520,043 401,961,850 8,746,222 0 (1,210,397) (1,883,000)
0
0
0
0
0
805,716,213
727,228,414
683,645,203
631,889,580
595,134,718
Unsecured: Land Improvements Personal Property Penalty
0 1,877,417 3,984,295 77,730
0 1,860,565 4,363,617 57,857
0 2,049,025 4,126,229 34,546
0 1,890,431 4,132,977 14,500
0 1,753,774 5,092,080 0
Total Net Assessed Taxable Unsecured Value
5,939,442
6,282,039
6,209,800
6,037,908
6,845,854
Total Net Assessed Taxable Secured Value
Total Net Assessed Taxable Value
$
811,655,655
$
733,510,453
(1) Secured values include State assessed data.
Source: Palm Desert Redevelopment Agency, Tax Increment Calculations & County of Riverside
-172-
$
689,855,003
$
637,927,488
$
601,980,572
City of Palm Desert
Change in Taxable Value Redevelopment Project Area # 2 2004/2005 versus 2003/2004 FY Secured: (1) Land Improvements Personal Property Penalty Less Other Exempt Less Home Owner Value Less B Inv. Value
2004/2005 $ $ $ $ $ $ $
Total Net Assessed Taxable Secured Value Unsecured: Land Improvements Personal Property Penalty
$ $ $ $ $ $ $
1,343,719,182
$ $ $ $
Total Net Assessed Taxable Unsecured Value Total Net Assessed Taxable Value
377,500,739 964,730,831 8,309,969 0 (3,133,357) (3,689,000) 0
2003/2004
0 3,853,947 13,891,105 0
1,254,658,357
$ $ $ $
17,745,052 $
1,361,464,234
(1) Secured values include State assessed data.
Source: County of Riverside, County Auditor Controller, Assessed Valuations
-173-
338,504,943 915,313,076 7,136,535 0 (2,979,597) (3,316,600) 0
$
% Change 11.5% 5.4% 16.4% 0.0% 5.2% 11.2% 0.0% 7.1%
0 4,482,615 11,486,746 0
0.0% -14.0% 20.9% 0.0%
15,969,361
11.1%
1,270,627,718
7.1%
City of Palm Desert
Historical Net Assessed Taxable Values Redevelopment Project Area # 3 Last Ten Fiscal Years
FY Secured: (1) Land Improvements Personal Property Penalty Less Other Exempt Less Home Owner Value
2004/2005 $
Total Net Assessed Taxable Secured Value
2003/2004
2002/2003
2001/2002
2000/2001
91,523,675 $ 243,139,587 3,152,374 0 (19,430,222) (1,974,000)
83,600,129 $ 221,590,995 1,581,880 0 (3,149,364) (1,912,400)
76,423,641 $ 176,923,362 1,224,360 0 (2,977,801) (1,750,000)
70,984,182 $ 167,824,429 1,221,819 255 (2,868,530) (1,687,000)
67,042,691 149,512,375 1,739,556 40,255 (2,651,190) (1,762,600)
316,411,414
301,711,240
249,843,562
235,475,155
213,921,087
Unsecured: Land Improvements Personal Property Penalty Less Other Exempt
2,138 9,635,015 35,730,772 0 (455,101)
2,138 13,245,112 37,209,995 0 (470,220)
2,213 8,281,641 26,061,080 0 (459,656)
29,325 11,021,570 21,453,363 904,695 (646,953)
29,992 11,069,151 24,808,691 1,176,179 (424,328)
Total Net Assessed Taxable Unsecured Value
44,912,824
49,987,025
33,885,278
32,762,000
36,659,685
Total Net Assessed Taxable Value
$
FY Secured: (1) Land Improvements Personal Property Penalty Less Other Exempt Less Home Owner Value
361,324,238
$
1999/2000 $
Total Net Assessed Taxable Secured Value
351,698,265
$
1998/1999
283,728,840
$
1997/1998
268,237,155
$
1996/1997
250,580,772
1995/1996
62,879,457 $ 142,889,361 4,247,032 0 (2,429,452) (1,789,200)
62,465,266 $ 143,323,854 4,474,127 2,295 (19,068,851) (1,807,400)
62,899,697 $ 143,172,549 3,388,041 2,295 (18,623,087) (1,743,000)
59,741,591 $ 138,853,030 3,899,940 1,036 (16,995,333) (1,531,600)
59,492,810 132,659,136 3,703,111 327,178 (15,980,806) (1,370,600)
205,797,198
189,389,291
189,096,495
183,968,664
178,830,829
Unsecured: Land Improvements Personal Property Penalty Less Other Exempt
31,781 8,832,767 18,345,262 625,647 (399,507)
29,656 8,843,353 18,062,689 711,922 (341,825)
29,703 5,998,073 13,493,827 554,243 (372,400)
30,941 4,335,089 11,759,146 186,362 (254,318)
4,307 11,413,789 11,054,432 988,033 (238,603)
Total Net Assessed Taxable Unsecured Value
27,435,950
27,305,795
19,703,446
16,057,220
23,221,958
Total Net Assessed Taxable Value
$
233,233,148
$
216,695,086
(1) Secured values include State assessed data.
Source: Palm Desert Redevelopment Agency, Tax Increment Calculations & County of Riverside
-174-
$
208,799,941
$
200,025,884
$
202,052,787
City of Palm Desert
Change in Taxable Values Redevelopment Project Area # 3 2005/2005 versus 2003/2004 FY Secured: (1) Land Improvements Personal Property Penalty Less Other Exempt Less Home Owner Value
2004/2005 $ $ $ $ $ $
Total Net Assessed Taxable Secured Value Unsecured: Land Improvements Personal Property Penalty Less Other Exempt
$ $ $ $ $ $
316,411,414
$ $ $ $ $
Total Net Assessed Taxable Unsecured Value Total Net Assessed Taxable Value
91,523,675 243,139,587 3,152,374 0 (19,430,222) (1,974,000)
2003/2004
2,138 9,635,015 35,730,772 0 (455,101)
$ $ $ $ $
44,912,824 $
361,324,238
(1) Secured values include State assessed data.
Source: County of Riverside, County Auditor Controller, Assessed Valuations
-175-
$
% Change
83,600,129 221,590,995 1,581,880 0 (3,149,364) (1,912,400)
9.5% 9.7% 99.3% 0.0% 517.0% 3.2%
301,711,240
4.9%
2,138 13,245,112 37,209,995 0 (470,220)
0.0% -27.3% -4.0% 0.0% -3.2%
49,987,025
-10.2%
351,698,265
2.7%
City of Palm Desert
Historical Net Assessed Taxable Values Redevelopment Project Area # 4 Last Ten Fiscal Years
FY Secured: (1) Land Improvements Personal Property Penalty (2) Less Other Exempt Less Home Owner Value Less B Inv. Value
2004/2005 $
Total Net Assessed Taxable Secured Value Unsecured: Land Improvements Personal Property Penalty (2) Total Net Assessed Taxable Unsecured Value Total Net Assessed Taxable Value
$
FY Secured: (1) Land Improvements Personal Property Penalty (2) Less Other Exempt Less Home Owner Value Less B Inv. Value Total Net Assessed Taxable Secured Value Unsecured: Land Improvements Personal Property Penalty (2)
423,136,913
$
$
387,894,896
$
2001/2002
363,532,124
$
2000/2001
336,601,532
$
295,636,937
1,000,472,990
943,610,707
861,691,896
742,772,488
1,039,548 0
903,523 0
1,176,104 0
1,269,934 91,675
1,085,189 32,666
(2,213,136)
(2,236,588)
(2,005,855)
(1,924,780)
(1,240,153)
(16,083,200)
(16,032,800)
(15,162,000)
(14,604,800)
(14,263,200)
0
0
0
0
1,466,171,386
1,371,002,021
1,291,151,080
1,183,125,457
1,024,023,927
0 2,043,627
0 1,172,618
0 1,610,760
0 1,878,576
0 2,018,343
4,639,732 0
3,438,910 0
6,790,656 0
8,053,034 70,495
8,071,994 31,283
6,683,359
4,611,528
8,401,416
10,002,105
10,121,620
1,472,854,745
$
1,375,613,549
$
1998/1999
266,431,690 639,902,284 1,130,254
$
1,299,552,496
$
1997/1998
241,556,658 543,450,593 3,312,159
$
52,911 (945,874) (13,367,200)
(1,125,349) (13,610,800)
$
2002/2003
1,060,291,261
1999/2000
Total Net Assessed Taxable Unsecured Value Total Net Assessed Taxable Value
2003/2004
1,193,127,562
$
1996/1997
239,474,265 487,317,734 1,030,391
$
52,911 (1,106,989) (12,854,800)
1,034,145,547
1995/1996
230,406,034 464,373,174 1,304,271
$
158,682 (1,049,518) (12,691,000)
226,816,633 463,671,956 3,679,819 500 (967,616) (12,355,000)
0
0
0
0
0
892,728,079
774,059,247
713,913,512
682,501,643
680,846,292
0
0
41,582
41,582
11,851
1,874,135 8,292,670 28,376
624,979 1,673,026 28,741
923,449 2,152,303 73,710
738,984 1,510,108 4,000
623,062 1,175,492 20,806
10,195,181
2,326,746
3,191,044
2,294,674
1,831,211
902,923,260
$
(1) Secured values include State assessed data.
-176-
776,385,993
$
717,104,556
$
684,796,317
$
682,677,503
City of Palm Desert
Change in Taxable Values Redevelopment Project Area # 4 2004/2005 versus 2003/2004
FY Secured: (1) Land Improvements Personal Property Penalty Less Other Exempt Less Home Owner Value Less B Inv. Value
2004/2005 423,136,913
$
387,894,896
$
1,060,291,261
$
1,000,472,990
6.0%
$
1,039,548
$
903,523
15.1%
0
$
9.1%
$
0
0.0%
$
(2,213,136) $
(2,236,588)
-1.0%
$
(16,083,200) $
(16,032,800)
0.3%
0
0.0%
1,371,002,021
6.9%
$
0
$
1,466,171,386
$
0
$
0
0.0%
$
2,043,627
$
1,172,618
74.3%
$
4,639,732
$
3,438,910
34.9%
$
0
$
0
0.0%
4,611,528
44.9%
1,375,613,549
7.1%
Total Net Assessed Taxable Unsecured Value Total Net Assessed Taxable Value
% Change
$
Total Net Assessed Taxable Secured Value Unsecured: Land Improvements Personal Property Penalty
2003/2004
6,683,359 $
1,472,854,745
-177-
$
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