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<div align="center"><font face="Helvetica, Arial, sans-serif" size="+3"><b
style=""><span
style="font-size: 16pt; line-height: 115%; font-family: "Arial","sans-serif"; color: red;"><big><big>MORE
NEWS!</big></big><o:p></o:p></span></b>
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<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
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<font face="Helvetica, Arial, sans-serif"><b style=""><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">ALERT:</span></b><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">
#140<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><b style=""><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">DATE:</span></b><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">
July 31, 2007<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><b style=""><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">TO:</span></b><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">
<st1:place w:st="on"><st1:PlaceName w:st="on">Incline</st1:PlaceName> <st1:PlaceType
w:st="on">Village & Crystal</st1:PlaceType> <st1:PlaceType
w:st="on">Bay</st1:PlaceType></st1:place>
Property Owners<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><b style=""><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">FROM:</span></b><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">
Village League Tax
Revolt Committee<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><st1:place w:st="on"><st1:PlaceName
w:st="on"><b style=""><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">Dear</span></b></st1:PlaceName><b
style=""><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">
<st1:PlaceName w:st="on">Incline</st1:PlaceName> <st1:PlaceType
w:st="on">Village & Crystal</st1:PlaceType> <st1:PlaceType
w:st="on">Bay</st1:PlaceType></span></b></st1:place><b style=""><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">
Property Owners,<o:p></o:p></span></b></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">Just
last Thursday, we received another powerful and favorable Order from
the Nevada
Supreme Court which said in part:<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<ul>
<li><font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">In
Bakst (the 2003-2004
case), seventeen taxpayers and owners of real property located near
Lake Tahoe
and Incline Village contested exactly the same methods utilized by the
Assessor
in this appeal ***this court agreed, that Nevada statutes do not permit
the
Assessor to adopt methods of property valuation not authorized by the
Nevada
Tax Commission***this court held that the methodologies were invalid
and
unconstitutional because they violated the Nevada Constitutional
requirement
that property be taxed according to a uniform and equal rate of
assessment.<o:p></o:p></span></font> </li>
</ul>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">The
Order was in answer to an Action for Declaratory Relief that was filed
by
Attorney Suellen Fulstone in November 2006 on behalf of the:<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<ul>
<li><font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">VILLAGE
LEAGUE TO SAVE
INCLINE ASSETS, INC., A NEVADA NON-PROFIT CORPORATION, ON BEHALF OF ITS
MEMBERS, AND OTHERS SIMILARLY SITUATED…<o:p></o:p></span></font> </li>
</ul>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">In
other words, the Supreme Court clarified that the Decision that they
issued
last December did not just apply to those seventeen taxpayers involved
in that
lawsuit, which is what the State and Washoe County have been trying to
argue,
but is applicable to <big><big><i><b>ALL </b></i></big></big>of the
residents of the IV/CB area, as
everyone is a
member of the Village League.<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<div align="center"><big><big><big><big><big><font
face="Helvetica, Arial, sans-serif" size="+3"><big><big><big><big><big><b
style=""><span
style="font-size: 16pt; line-height: 115%; font-family: "Arial","sans-serif"; color: red;">SUGGESTED
ATTENDANCE<o:p></o:p></span></b></big></big></big></big></big></font></big></big></big></big></big><font
size="+3">
</font><br>
</div>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">On
Wednesday evening, August 1, at 7:00 P.M. at the IVGID Boardroom, the
current
Washoe County Assessor, Josh Wilson is going to speak about the
Assessor’s
office plan to reappraise Incline Village and Crystal Bay for next
year’s
taxes.<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">The
Village League has engaged the services of a court reporter for the
occasion.<span style=""> </span>It would be an especially
appropriate time to ask Mr. Wilson some of the questions that have us
all
guessing.<span style=""> </span>I might suggest that you
confer with your neighbors, and if they are unable to attend, solicit
questions
from them that might be interesting to everyone. <o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">With
our two huge Supreme Court cases yet to be heard, we certainly want to
know
exactly what the Assessor plans to do with our property taxes, so we
can share
those thoughts with the Justices!<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">We
do hope that many of you will take the time to attend.<span style=""> </span>We
MUST let them know that we haven’t gone
away and are still in the fight.<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">Hopefully,
I will see you there, at the CAB meeting on Wednesday.<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">Sincerely,<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><b style=""><i style=""><span
style="font-size: 14pt; line-height: 115%; font-family: "Arial","sans-serif";">Maryanne
Ingemanson<o:p></o:p></span></i></b></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">Maryanne
Ingemanson, President<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">Village
League to Save Incline Assets, Inc.<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><a
moz-do-not-send="true" class="moz-txt-link-abbreviated"
href="http://www.NevadaPropertyTaxRevolt.org">www.NevadaPropertyTaxRevolt.org</a><o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><a
moz-do-not-send="true" class="moz-txt-link-abbreviated"
href="mailto:mingemanson@charter.net">mingemanson@charter.net</a><o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><b style=""><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">Village
League to Save Incline Assets
Board Members:<o:p></o:p></span></b></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><span
style=""> </span>* <st1:PersonName w:st="on">Maryanne <st1:PersonName
w:st="on">Ingemanson</st1:PersonName></st1:PersonName>, President<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><span
style=""> </span>* Dale Akers, Historian<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><span
style=""> </span>* Les Barta, Law Research<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><span
style=""> </span>* <st1:PersonName w:st="on">John Carney</st1:PersonName>,
Analyst<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><span
style=""> </span>* <st1:PersonName w:st="on">Wayne Fischer</st1:PersonName>,
Webmaster<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><span
style=""> </span>* <st1:PersonName w:st="on">Ted Harris</st1:PersonName>,
Tax Revolt Committee Chairman<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><span
style=""> </span>* <st1:PersonName w:st="on">Todd Lowe</st1:PersonName>,
Financial,<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><span
style=""> </span>* <st1:PersonName w:st="on">Chuck Otto</st1:PersonName>,
Public Relations <o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<div align="center"><font face="Helvetica, Arial, sans-serif"><b
style=""><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">Village
League to Save Incline Assets, Inc.<o:p></o:p></span></b></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">Non-Profit
Corporation - FEIN 88-0399029<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><st1:address w:st="on"><st1:Street
w:st="on"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">1165
Vivian Lane</span></st1:Street><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">,
<st1:City w:st="on">Incline Village</st1:City>, <st1:State w:st="on">NV</st1:State>
<st1:PostalCode w:st="on">89451</st1:PostalCode></span></st1:address><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">Phone:
775-831-4011, Fax 775-831-0325<o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">Email:
<a moz-do-not-send="true" class="moz-txt-link-abbreviated"
href="mailto:mingemanson@charter.net">mingemanson@charter.net</a><o:p></o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
<br>
<font face="Helvetica, Arial, sans-serif"><span
style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";">#<span
style=""> </span>#<span style=""> </span>#<o:p></o:p></span></font>
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style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
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style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
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style="font-size: 12pt; line-height: 115%; font-family: "Arial","sans-serif";"><o:p> </o:p></span></font>
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