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<P><B><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular color=red
size=+2>A Progress Update on<BR>our Tax Revolt
Activity</FONT></B></P></DIV>
<DIV align=left>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular
size=-1><B>ALERT:</B> #54<BR><B>DATE:</B> Monday, August 30,
2004<BR><B>TO:</B> Incline Village & Crystal Bay Property
Owners<BR><B>FROM: </B>Nevada Property Tax Revolt Committee</FONT></P>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1><B>Dear
Property Taxpayers,</B></FONT></P>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>The
following is an update on our progress in fighting for and securing a fair
and equitable resolution to the property tax issues in Incline Village and
Crystal Bay.</FONT></P>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1><B>Our
unified goal is quite simple:</B></FONT></P>
<UL>
<LI><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular
size=-1>Obtain a roll-back in taxable value to a base year of 2002-2003
(before the huge increase of 2003/2004)<BR><BR></FONT>
<LI><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>Use
a verifiable estimate (factor) based on the newly approved regulations
for 2003/2004 and 2004/2005<BR><BR></FONT>
<LI><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular
size=-1>Support a reasonable tax CAP (a maximum percent increase per
year) for the near </FONT><FONT
face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>future, and
then<BR><BR></FONT>
<LI><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular
size=-1>Determine if such a CAP could be made permanent;<BR><BR></FONT>
<LI><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>Or
take a </FONT><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular
size=-1>Proposition 13 type approach for the long term.</FONT> </LI></UL>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>It is
<B>critical</B> that we get the base year correct. Otherwise, we will live
with </FONT><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular
size=-1>the injustices done for 2003/04 forever, (and they will compound).
It is quite clear that we will not prevail by staying in the taxing
authorities’ “system”. It is biased, protective of its own, resistant to
change, and views us as <B>Income Village</B>.</FONT></P>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1><B>We
have therefore initiated the following:</B></FONT></P>
<UL>
<LI><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>Have
18 individual cases that are being heard in court in Carson City. The
outcomes of these cases have significant implications for all of our
claims. The results of these will be known in early September. In
addition, we have just launched a second round of lawsuits in this
court.<BR><BR></FONT>
<LI><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>Have
appealed to the Nevada Supreme Court the decision in a class action
lawsuit </FONT><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular
size=-1>claiming illegal methods were used in assessing properties in
Incline Village and Crystal Bay.<BR><BR></FONT>
<LI><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>We
have engaged the services of a noted professor and appraisal expert to
show the gross inequities and illegalities made by the Washoe County
Assessor’s Office.<BR><BR></FONT>
<LI><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>Have
initiated a Bill Draft Request, which provides consequences if the
Assessor’s Office </FONT><FONT
face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>does not
correctly interpret and utilize the new legal appraisal methods, which
became Law on August 4, 2004.</FONT> </LI></UL>
<P><B><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>Tax
Cap Proposed Statute</FONT></B></P>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>A
proposal has been initiated recently for a tax CAP, by Mark Schofield,
Clark County Assessor. Simply stated, in its current form, this is a
maximum percentage increase in any year on the taxable value of your
property. </FONT><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular
size=-1>The proposal calls for a maximum 6% increase or the assessed
amount, whichever is less. </FONT></P>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>We
fully support the concept of a CAP. It protects everyone from huge,
unexpected increases, is predictable, is more affordable, and protects us
from the practices and biases of the Washoe County Assessor’s Office.
</FONT></P>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>While
we fully support the concept, we offer <B>qualified suppor</B>t for the
content. We feel 6% is too high (a lower rate and/or the rate of inflation
are better options). All properties should be included, plus “growth”,
(new properties to the tax rolls), should be included in any
analysis.</FONT></P>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>As the
CAP proposal moves forward, many interest groups will try to influence the
outcome. The Village League will <B>absolutely be at the table</B> and
involved in the process. </FONT></P>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>Some
form of a tax CAP is inevitable. We will be there to have our </FONT><FONT
face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>voices heard on
the size and shape of whatever is proposed.</FONT></P>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>Thank
you for your continued support and interest. We will continue to keep you
fully informed.</FONT></P>
<DIV align=left>
<DIV align=left>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular
size=-1>Sincerely,</FONT></P>
<P><FONT face="Times New Roman,Georgia,Times" size=+2><I>Maryanne
Ingemanson</I></FONT></P></DIV></DIV>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular
size=-1><B>Maryanne Ingemanson</B>, President<BR></FONT><FONT
face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1>Village League
to Save Incline Assets, Inc.<BR></FONT><FONT
face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-1><A
href="http://www.NevadaPropertyTaxRevolt.org">www.NevadaPropertyTaxRevolt.org</A></FONT></P>
<DIV align=left>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular size=-2>Plus
<B>Village League to Save Incline Assets Board Members</B>: <B>Ted
Harris</B>, Tax Revolt Committee Chairman, <B>Les Barta</B>, Law Research,
<B>John Carney</B>, Analyst, <B>Wayne Fischer</B>, Webmaster, <B>Todd
Lowe</B>, Financial, <B>Dale Akers</B>, Historian, and <B>Chuck Otto</B>,
Public Relations</FONT></P>
<P><FONT face=Arial,Helvetica,Geneva,Swiss,SunSans-Regular
size=-2>.</FONT></P></DIV></DIV></TD>
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