By Rachel Buhner
The highly anticipated showdown between the Roman Catholic Archdiocese and the San Francisco Assessor-Recorders Office came to head June 16th in the Atrium conference room located at One South Van Ness. At stake is millions of dollars in revenue to the city, and perhaps the question of whether the Catholic Church will be able to hide hundreds of millions in assets from sexual abuse victims and other litigants.
Arguing in front of the Transfer Tax Review Board, the legal counsel for both the RCA and the Assessor-Recorder’s Office presented their respective cases with minimal theatrics. However, with the city estimating the total property values of the transferred parcels ranging anywhere from $210 million to $1.25 billion, and the potential transfer tax payout to be somewhere between $3 and $15 million – on top of increased property taxes as the properties are reassessed — there was clearly at a lot at stake for both parties.