S.F.’s independent tax arbiter said that AT&T Park is worth well over $100M “more than the Giants claim it is, the latest ruling in a long-running fight over how much in taxes the baseball team should pay" on the ballpark, according to J.K. Dineen of the S.F. CHRONICLE. The S.F. Assessment Appeals Board said that the ballpark "was worth” $340M in ‘11, $355M in '12 and '13 and $365M in '14. However, S.F. Assessor-Recorder Carmen Chu had set the ‘14 value at $407M, while the Giants said that the park "was worth” $232M that year. Both sides yesterday said that the new assessment “bolsters their claims.” Giants Exec VP & General Counsel Jack Bair said that the ruling, if upheld, would “result in a city tax refund” of about $2M to the team for the four years in dispute. Dineen notes the tax feud has "gone on for more than a decade.” From the beginning, the Giants have argued that the ballpark is a “depreciating asset” worth less every year. The city claims that the ballpark’s value “must be evaluated in the context of the construction boom and the rapid escalation of city land values” (S.F. CHRONICLE, 11/16).
