Daly Blasts Giants Bid for Raid on City Funds

by Beyond Chron (reposted)

Fri, Mar 11, 2005 11:37AM

Supervisor Chris Daly held a press conference yesterday denouncing a bid by the San Francisco Giants to escape from paying over $4 million in taxes to the City. The Giants claim that SBC Park has been overvalued by around $400 million over the past three years, and argues they should not have to pay property taxes based on these figures. With Supervisor Ross Mirkarimi and a group of community activists behind him, Daly lambasted the park’s owners, declaring they should be embarrassed for asking the City for so much in such dire economic times.

The Giants will be taking their claim to the San Francisco Assessment Appeals Board, where they will try to prove that despite every piece of property around them skyrocketing in value over the past few years, their property's worth dropped precipitously.

“It’s just not how real estate in San Francisco works,” said Daly. “In this city, even in the bad times, real estate goes up. And that’s why SBC Park’s value has gone up.”

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