HdL® THE CITY OF SALINAS
Coren & Cone 2023/24 PROPERTY TAX REVIEW
2023/24 TAXABLE VALUE: $14,497,925,821 +4.80% GROWTH FROM 2022/23: $13,833,654,587
VALUE CHANGE BY CAUSE REVENUE SUMMARY
2022/23 Net Value $13,833,654,587 Gen. Fund 1% Share Rev. % of All
Cause of Value Change % of 2022/23 Chg from 20800 Salinas General Fund $19,557,364 Chg. from 2022/23 Net Value 2022/23
Parcel Adds/Drops Net Change Revenue Shifts
$0 0.00% 0.0%
VLFAA (est.) Property Tax Revenue $16,477,031
Change from CPI 2.0% Growth $241,980,962 1.75% 36.4% ERAF I & II (already shifted in above revenue) -$4,955,494
Prior Year Transfer of Ownership $190,620,252 1.38% 28.7% New Construction - Non-Res. $42,092,211 0.30% 6.3%
New Construction - Residential $32,529,963 0.24% 4.9% VALUE CHANGE BY USE CATEGORY Prop. 8 - Reduce/Recapture Net $15,829,742 0.11% 2.4%
Unsecured Value Change % of AL
$84,484,775 0.61% 12.7% Use Category Chg. from 2022/23 % Chg. in Chg fron Cross-Reference Value Change _Category 2022123
-$12,747 0.00% • 0.0% Residential $489,443,700 5.04% 73.7% Other Changes* $56,746,076 0.41% 8.5% Commercial $70,657,464 3.71% 10.6% Total Change $664,271,234 4.80% Unsecured $84,484,775 10.06% 12.7% 2023/24 Net Value $14,497,925,821 4.80% Growth Industrial -$16,417,685 -1.78% -2.5% omar changes ma sude erase, real one real and ranges to Vacant $29,513,539 19.35% 4.4% Institutional $1,847,254 1.83% 0.3%
Miscellaneous $2,425,696 3.14% 0.4%
VALUE CHANGE BY COMPONENT Irrigated $1,505,281 1.98% 0.2% Recreational $764,423 2.07% 0.1%
Area Chg. from 2022/23 % Chg. Cross Reference -$12,747 -0.09% 0.0% _In Area
City Of Salinas $664,271,234 4.80% SBE Nonunitary $0 0.00% 0.0% Salinas General Fund $593,077,188 4.68% Govt. Owned $59,438 2.00% 0.0% Successor Agency $46,667,943 4.46% Dry Farm $96 1.99% 0.0% Countywide $4,963,803,234 5.88%
PRIOR AND CURRENT YEAR TOP 10 TAXPAYERS (NET VALUE ORDER) Rank 2023/24 Top Taxpayers % Chg Rank 2022/23 Top Taxpayers 1 Mersho Investments LLC 1 Northridge Owner LP
2 Cmp-1 LLC (+$2.OM) +2.3% 2 Cmp-1 LLC
3 Harden Ranch Plaza Associates LLC Et AI +2.1% 3 Harden Ranch Plaza Associates LLC Et AI 4 California Water Service Company (+$3.7M) +5.7% Mann Packing Company Inc Taylor Farms Retail Inc +2.1% 5 Taylor Farms RetailIng
Growers Ice Company (+$31.9M) +91.8% 6 California Water Service Company 7 The Uni-Kool Partners +1.8% The Uni-Kool Partners
8 Taylor Farms California Inc +0.2% Taylor Farms California Inc 9 Casentini Street Apartments LLC +2.0% 9 Chiquita Brands International Inc 10 Chiquita Brands International Inc -8.1% 10 Casentini Street Apartments LLC Data Source: Monterey County Assessor 2023/24 Tax Rolls; Prepared on 10/20/2023 by DS This report is not to be used in support of debt issuance or continuing disclosure statements without the written consent of HaL, Coren & Cone Page 1