PROPERTY TAX COMPARISONS from: http://www.slpropertyinfo.org/Default.aspx#AddressSearch Federal Cost of Living Adjustment = 2.51% (Last 8 year average) --------------------------------------------------------------------------------- 584 Cortez Street (Simister) (140,300 to 318,300 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $251,200 $2,061.90 0.82% Proposed 2006 $318,300 $2,436.55 0.77% % Change 26.71% 18.17% Total Tax Change from 1997 to 2006 216.04% (tax increase in 9 years) Equivalent per year compounded increase: 8.9% Tax above COLA = 3.56 X Per Year raise = 24% Property Valuation above COLA = 3.80 X (9.5%) Total Tax Change from 1994 to 2006 486.43% (tax increase in 12 years) Equivalent per year compounded increase: 14.1% Tax above COLA = 5.61 X Per Year raise = 41% Total Tax Change from 1962 to 2006 542% (tax increase in 44 years) Equivalent per year compounded increase: 3.9% Tax above COLA = 1.56 X Per Year raise = 12% ---------------------------------------------------------------------------------- Year Value % Change Taxes % Change Eff. Tax Rate 2006 $318,300 26.71% $2,436.55 18.17% 0.77% 2005 $251,200 3.72% $2,061.90 2.17% 0.82% 2004 $242,200 -2.06% $2,018.13 -1.37% 0.83% 2003 $247,300 -2.37% $2,046.07 1.22% 0.83% 2002 $253,300 81.06% $2,021.46 82.61% 0.80% 2001 $139,900 -1.69% $1,107.01 -0.66% 0.79% 2000 $142,300 0.21% $1,114.42 -4.54% 0.78% 1999 $142,000 -3.14% $1,167.44 2.07% 0.82% 1998 $146,600 4.49% $1,143.74 1.41% 0.78% 1997 $140,300 9.01% $1,127.84 3.14% 0.80% ---------------------------------------------------------------------------------- ---------------------------------------------------------------------------------- 686 North Cortez Street (Eskelson's old home)(enormously improved) (195,300 to 293,800 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $248,100 $2,036.45 0.82% Proposed 2006 $293,800 $2,249.01 0.77% % Change 18.42% 10.44% Total Tax Change from 1997 to 2006 143% (tax increase in 9 years) Equivalent per year compounded increase: 4.1% Tax above COLA = 1.62 X Per Year raise = 16% Property Valuation above COLA = 1.85 X (4.6%) --------------------------------------------------------------------------- 583 North Cortez Street (Love - Taggert)(enormously improved!) (159,900 to 254,600 in 9 years) 2005 $215,100 $1,765.58 0.82% Proposed 2006 $254,600 $1,948.94 0.77% % Change 18.36% 10.39% Total Tax Change from 1997 to 2006 151.62% (tax increase in 9 years) Equivalent per year compounded increase: 4.7% Tax above COLA = 1.89 X Per Year raise = 17% Property Valuation above COLA = 2.11 X (5.3%) (Actual Sale Price = $370,000 (11/5/2006 approx)) ---------------------------------------------------------------------------------- 678 Cortez Street (Burnham) (186,900 to 265,800 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $232,400 $1,907.59 0.82% Proposed 2006 $265,800 $2,034.67 0.77% % Change 14.37% 6.66% Total Tax Change from 1997 to 2006 135.42% (tax increase in 9 years) Equivalent per year compounded increase: 3.4% Tax above COLA = 1.37 X Per year raise = 15% Property Valuation above COLA = 1.59 X (4.0%) ---------------------------------------------------------------------------------- 564 Cortez Street (Sawyer)(recently modernized) (236,500 to 326,400 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $271,900 $2,231.81 0.82% Proposed 2006 $326,400 $2,498.56 0.77% % Change 20.04% 11.95% Total Tax Change from 1997 to 2006 131.42% (tax increase in 9 years) Equivalent per year compounded increase: 3.1% Tax above COLA = 1.23 X Per year raise = 15% Property Valuation above COLA = 1.45 X (3.6%) ---------------------------------------------------------------------------------- 577 Cortez Street (McCormack)(apartment in basement) (175,400 to 239,300 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $202,400 $1,661.34 0.82% Proposed 2006 $239,300 $1,831.82 0.77% % Change 18.23% 10.26% Total Tax Change from 1997 to 2006 129.88% (tax increase in 9 years) Equivalent per year compounded increase: 2.9% Tax above COLA = 1.18 X Per year raise = 14% Property Valuation above COLA = 1.41 X (3.5%) ----------------------------------------------------------------------------------- 692 Cortez Street (203,900 to 299,400 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $253,200 $2,078.32 0.82% Proposed 2006 $299,400 $2,291.88 0.77% % Change 18.25% 10.28% Total Tax Change from 1997 to 2006 139.82% (tax increase in 9 years) Equivalent per year compounded increase: 3.8% Tax above COLA = 1.51 X Per year raise = 16% Property Valuation above COLA = 1.74 X (4.4%) ----------------------------------------------------------------------------------- 509 Cortez (Winmill) (184,900 to 318,000 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $255,800 $2,099.66 0.82% Proposed 2006 $318,000 $2,434.26 0.77% % Change 24.32% 15.94% Total Tax Change from 1997 to 2006 163.78 (tax increase in 9 years) Equivalent per year compounded increase: 5.6% Tax above COLA = 2.25 X Per year raise = 18% Property Valuation above COLA = 2.48 X (6.2%) --------------------------------------------------------------------------------- 195 East Girard Year Market Value Total Taxes Effective Tax Rate 2005 $303,800 $2,493.65 0.82% Proposed 2006 $387,300 $2,964.74 0.77% % Change 27.49% 18.89% Total Tax Change from 1997 to 2006 147.80% (tax increase in 9 years) Equivalent per year compounded increase: 4.4% Tax above COLA = 1.77 X Per year raise = 16% --------------------------------------------------------------------------------- 195 East Girard Year Market Value Total Taxes Effective Tax Rate 2005 $303,800 $2,493.65 0.82% Proposed 2006 $387,300 $2,964.74 0.77% % Change 27.49% 18.89% Total Tax Change from 1997 to 2006 147.58% (tax increase in 9 years) Equivalent per year compounded increase: 4.1% Tax above COLA = 1.62 X Per year raise = 16% ---------------------------------------------------------------------------------- 600 N. East Capitol Street (new home construction - not a duplex to our knowledge) Year Market Value Total Taxes Effective Tax Rate 2005 $601,900 $4,940.52 0.82% Proposed 2006 $668,800 $5,119.60 0.77% % Change 11.11% 3.62% Total Tax Change from 1997 to 2006 297.46% (tax increase in 9 years) Equivalent per year compounded increase: 12.9% Tax above COLA = 5.13 X Per year raise = 33% (new home construction) ------------------------------------------------------------------------------------ 579 North Capitol Street (Rodgers) Year Market Value Total Taxes Effective Tax Rate 2005 $276,300 $2,267.93 0.82% Proposed 2006 $314,900 $2,410.53 0.77% % Change 13.97% 6.29% Total Tax Change from 1997 to 2006 140.32% (tax increase in 9 years) Equivalent per year compounded increase: 3.8% Tax above COLA = 1.53 X Per year raise = 16% ----------------------------------------------------------------------------------- 603 East Capitol Street (Carling) Year Market Value Total Taxes Effective Tax Rate 2005 $253,500 $2,080.78 0.82% Proposed 2006 $369,800 $2,830.78 0.77% % Change 45.88% 36.04% Total Tax Change from 1997 to 2006 150.81% (tax increase in 9 years) Equivalent per year compounded increase: 4.7% Tax above COLA = 1.86 X Per year raise = 17% ------------------------------------------------------------------------------------- 702 North Cortez Street (new, modern 3-garage construction) (307,700 to 406,700 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $328,100 $2,693.11 0.82% Proposed 2006 $406,700 $3,113.25 0.77% % Change 23.96% 15.60% Total Tax Change from 1997 to 2006 125.86% (tax increase in 9 years) Equivalent per year compounded increase: 2.6% Tax above COLA = 1.03 X Per year raise = 14% Property Valuation above COLA = 1.26 X (3.2%) ------------------------------------------------------------------------------------ 543 North Cortez (Scott's) (200,700 to 257,500 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $219,500 $1,801.70 0.82% Proposed 2006 $257,500 $1,971.14 0.77% % Change 17.31% 9.40% Total Tax Change from 1997 to 2006 122.18% (tax increase in 9 years) Equivalent per year compounded increase: 2.5% Tax above COLA = 1.00 X Per year raise = 14% Property Valuation above COLA = 1.12 X (2.8%) -------------------------------------------------------------------------------------- 71 East Girard (Owner received $0.00 for property sale) Year Market Value Total Taxes Effective Tax Rate 2005 $190,600 $1,564.48 0.82% Proposed 2006 $315,000 $2,411.29 0.77% % Change 65.27% 54.13% Total Tax Change from 1997 to 2006 175.00% (tax increase in 9 years) Equivalent per year compounded increase: 6.4% Tax above COLA = 2.56 X Per year raise = 19% (new complete remodeling) Acquired by Girard MDLLC on May 1, 2006 -------------------------------------------------------------------------------------- 77 East Girard (Owner received $0.00 for property sale) Year Market Value Total Taxes Effective Tax Rate 2005 $198,000 $1,625.22 0.82% Proposed 2006 $275,800 $2,111.22 0.77% % Change 39.29% 29.90% Total Tax Change from 1997 to 2006 155.40% (tax increase in 9 years) Equivalent per year compounded increase: 5.0% Tax above COLA = 2.00 X Per year raise = 17% (new remodeling) Acquired by Mark E. Christensen on March 23, 2006 Acquired from Graystone Capital 1/27/2005 -------------------------------------------------------------------------------------- 67 East Girard Year Market Value Total Taxes Effective Tax Rate 2005 $196,700 $1,614.55 0.82% Proposed 2006 $259,600 $1,987.21 0.77% % Change 31.98% 23.08% Total Tax Change from 1997 to 2006 132.90% (tax increase in 9 years) Equivalent per year compounded increase: 3.2% Tax above COLA = 1.28 X Per year raise = 15% ------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------ 51 East 500 North Year Market Value Total Taxes Effective Tax Rate 2005 $228,200 $1,873.11 0.82% Proposed 2006 $280,800 $2,149.50 0.77% % Change 23.05% 14.76% Total Tax Change from 1997 to 2006 115.85% (tax increase in 9 years) Equivalent per year compounded increase: 2.51% Tax above COLA = 1.00 X Per year raise = 13% ------------------------------------------------------------------------------- 71 East 500 North Year Market Value Total Taxes Effective Tax Rate 2005 $284,500 $2,335.23 0.82% Proposed 2006 $311,700 $2,386.03 0.77% % Change 9.56% 2.18% Total Tax Change from 1997 to 2006 114.29% (tax increase in 9 years) Equivalent per year compounded increase: 2.51% Tax above COLA = 1.00 X Per year raise = 13% ----------------------------------------------------------------------------- 574 North East Capitol Street (Williams - owner of Gastronomy) Year Market Value Total Taxes Effective Tax Rate 2005 $671,000 $5,507.70 0.82% Proposed 2006 $727,800 $5,571.24 0.77% % Change 8.46% 1.15% Total Tax Change from 1997 to 2006 138.08% (tax increase in 9 years) Equivalent per year compounded increase: 3.7% Tax above COLA = 1.46 X Per year raise = 15% ------------------------------------------------------------------------------ 674 North Cortez Street (similar to 584 - ours) (177,600 to 276,000 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $239,600 $1,966.68 0.82% Proposed 2006 $276,000 $2,112.75 0.77% % Change 15.19% 7.43% Total Tax Change from 1997 to 2006 147.99% Equivalent per year compounded increase: 4.5% Tax above COLA = 1.77 X Per year raise = 16.44 Property Valuation above COLA = 2.00 X (5.0%) ------------------------------------------------------------------------- 678 North Cortez Street (186,900 to 265,800 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $232,400 $1,907.59 0.82% Proposed 2006 $265,800 $2,034.67 0.77% % Change 14.37% 6.66% Total Tax Change from 1997 to 2006 135.42% Equivalent per year compounded increase: 3.4% Tax above COLA = 1.37 X Per year raise = 15% Property Valuation above COLA = 1.59 X (4.0%) ----------------------------------------------------------------------- 656 North Cortez Street (Rent = $975.00) (201,700 to 294,700 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $223,800 $1,837.00 0.82% $294,700 $2,255.90 0.77% % Change 31.68% 22.80% Total Tax Change from 1997 to 2006 139.13% Equivalent per year compounded increase: 3.7% Tax above COLA = 1.49 X Per year raise = 15% Property Valuation above COLA = 1.72 X (4.3%) -------------------------------------------------------------------------- 603 North Cortez Street (Duplex) (120,000 to 243,400 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $155,400 $1,275.55 0.82% $243,400 $1,863.20 0.77% % Change 56.63 46.07% Total Tax Change from 1997 to 2006 146.07% Equivalent per year compounded increase: 4.3% Tax above COLA = 1.71 X Per year raise = 16% Property Valuation above COLA = 3.26 X (8.2%) -------------------------------------------------------------------------- 601 North Cortez Street (177,800 to 262,400 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $212,800 $1,746.70 0.82% Proposed 2006 $262,400 $2,008.65 0.77% % Change 23.31% 15.00% Total Tax Change from 1997 to 2006 147.58% Equivalent per year compounded increase: 4.4% Tax above COLA = 1.76 X Per year raise = 21% Property Valuation above COLA = 1.76 X (4.4%) ---------------------------------------------------------------------- 607 North Cortez Street (135,900 to 227,000 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $188,500 $1,547.25 0.82% Proposed 2006 $227,000 $1,737.66 0.77% % Change 20.42% 12.31% Total Tax Change from 1997 to 2006 159% Equivalent per year compounded increase: 5.3% Tax above COLA = 2.11 X Per year raise = 17.7% Property valuation above COLA = 2.34 (5.9%) ---------------------------------------------------------------------- 613-615 North Cortez Street (Duplex) (215,000 to 267,300 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $189,300 $1,553.81 0.82% Proposed 2006 $267,300 $2,046.15 0.77% % Change 41.20% 31.69% Total Tax Change from 1997 to 2006 118.39% Equivalent per year compounded increase: 2.51% Tax above COLA = 1.00 X Per year raise = 13% Property valuation above COLA = 0.98 (2.5%) ---------------------------------------------------------------------- 625 North Cortez Street (301,880 to 331,500 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $228,400 $1,874.75 0.82% Proposed 2006 $331,500 $2,537.60 0.77% % Change 45.14% 35.36% Total Tax Change from 1997 to 2006 104.60% Equivalent per year compounded increase: 1.01% Tax above COLA = 0.40 X Per year raise = .12% Property valuation above COLA = 0.42 (1.1%) --------------------------------------------------------------- 660 North Cortez Street (Phil Card) (164,000 to 248,700 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $194,400 $1,595.67 0.82% $248,700 $1,903.77 0.77% % Change 27.93% 19.31% Total Tax Change from 1997 to 2006 144.40% Equivalent per year compounded increase: 4.2% Tax above COLA = 1.66 X Per year raise = 16% Property valuation above COLA = 1.89 (4.7%) ----------------------------------------------------------------------- 675 North Cortez Street (215,300 to 379,200 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $259,500 $2,130.03 0.82% $379,200 $2,902.74 0.77% % Change 46.13% 36.28% Total Tax Change from 1997 to 2006 167.72% Equivalent per year compounded increase: 5.9% Tax above COLA = 2.36 X Per year raise = 19% Property valuation above COLA = 2.59 X (6.5%) ------------------------------------------------------------------------ 619 North Cortez Street (259,000 to 341,500 in 9 years) Year Market Value Total Taxes Effective Tax Rate 2005 $288,200 $2,365.60 0.82% $341,500 $2,614.15 0.77% % Change 18.49% 10.51% Total Tax Change from 1997 to 2006 125.56% Equivalent per year compounded increase: 2.6% Tax above COLA = 1.02 X Per year raise = 14% Property valuation above COLA = 1.24 X (3.1%) ------------------------------------------------------------------------- ------------------------------------------------------------------------- Random Area Comparisons: Parcel-Encumbrance Location Address 2005 Value 2006 Value %Change 9 yr change 0827202012-0000 1524 W DUPONT AVE $116,500 $137,500 18.03% 0827202014-0000 1345 N 1500 W $118,000 $139,100 17.88% 0827202006-0000 1505 W SUNSET DR $119,000 $140,000 17.65% 0827202013-0000 1516 W DUPONT AVE $122,300 $142,100 16.19% 0827202007-0000 1355 N 1500 W $124,200 $145,100 16.83% 0827202009-0000 1552 W DUPONT AVE $131,700 $153,800 16.78% 0827202003-0000 1537 W SUNSET DR $134,800 $155,900 15.65% 0827202005-0000 1519 W SUNSET DR $133,600 $155,900 16.69% 8.83% 0827202010-0000 1542 W DUPONT AVE $135,500 $157,600 16.31% 0827202002-0000 1545 W SUNSET DR $142,000 $164,000 15.49% 0827202001-0000 1555 W SUNSET DR $140,800 $165,400 17.47% 0827202008-0000 1562 W DUPONT AVE $142,600 $166,700 16.90% 0827202004-0000 1529 W SUNSET DR $143,100 $169,500 18.45% 10.46% 0827202011-0000 1532 W DUPONT AVE $152,100 $182,800 20.18% 1527210006-0000 1515 W SUNSET DR $ 89,000 $101,500 14.04 12.93% 0822452004-0000 1514 W SUNSET DR $116,300 $135,000 16.08 8.25% 1527208028-0000 1512 W SUNSET DR $ 36,000 $ 49,600 37.78 36.43% 1527208029-0000 1510 W SUNSET DR $ 82,300 $ 94,500 14.82 13.7 0822452008-0000 1548 W SUNSET DR $184,800 $228,000 23.38 16% (new) -------------------------------------------------------------------------------------- Luxury Ensign Downs area: 79 East Edgecomb 2005 $416,500 $3,418.72 0.82% Proposed 2006 $472,200 $3,614.64 0.77% % Change 13.37% 5.73% Total Tax Change from 1997 to 2006 138.09% Equivalent per year compounded increase: 3.7% Tax above COLA = 1.46 X Per Year Change = 15% --------------------------------------------------------- 70 East Dorchester Drive (Lloyd) 2005 $388,300 $3,187.24 0.82% Proposed 2006 $447,000 $3,421.74 0.77% % Change 15.12% 7.36% Total Tax Change from 1997 to 2006 118.88% Equivalent per year compounded increase: 2.5% Tax above COLA = 1.00 X Per Year Change = 13% ------------------------------------------------------------ 151 East Edgecombe Drive (Gunn) 2005 $469,000 $3,849.65 0.82% Proposed 2006 $529,500 $4,053.27 0.77% % Change 12.90% 5.29% Total Tax Change from 1997 to 2006 149.62% Equivalent per year compounded increase: 4.6% Tax above COLA = 1.83 X Per Year Change = 17% ------------------------------------------------------------- 80 East Edgecombe Drive (Heslop) 2005 $301,500 $2,474.77 0.82% Proposed 2006 $399,100 $3,055.07 0.77% % Change 32.37% 23.45% Total Tax Change from 1997 to 2006 111% Equivalent per year compounded increase: 2.5% Tax above COLA = 1.00 X Per Year Change = 12% ------------------------------------------------------------- 103 East Edgecombe Drive (Brown) 2005 $401,000 $3,291.49 0.82% Proposed 2006 $468,800 $3,588.62 0.77% % Change 16.91% 9.03% Total Tax Change from 1997 to 2006 144% Equivalent per year compounded increase: 4.1% Tax above COLA = 1.65 X Per Year Change = 16% -------------------------------------------------------------- 156 East Braewick Road (Thomas) 2005 $356,400 $2,925.40 0.82% Proposed 2006 $399,100 $3,055.07 0.77% % Change 11.98% 4.43% Total Tax Change from 1997 to 2006 131% Equivalent per year compounded increase: 3.0% Tax above COLA = 1.21 X Per Year Change = 15% ---------------------------------------------------------------