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Home My WebLink About20132009.tiffJuly 31, 2013 CLERK TO THE BOARD PHONE (970) 336-7215, EXT 4226 FAX (970) 352-0242 WEBSITE: www.co.weld.co.us 1150 O STREET P.O. BOX 758 GREELEY CO 80632 DAY PETER 1910 WINDEMERE LN ERIE, CO 80516 RE: THE BOARD OF EQUALIZATION 2013, WELD COUNTY, COLORADO DENIAL OF PETITIONER'S APPEAL AND AFFIRMATION OF ASSESSOR'S VALUE ACCOUNT NO.: R6778825 Dear Petitioner: On July 30, 2013, the Board of County Commissioners of Weld County Colorado convened and acting as the Board of Equalization, pursuant to C.R.S. Section 39-8-101 et seq., considered your petition for appeal of the Weld County Assessor's valuation of your property described above, for the year 2013. The Board of Equalization found that the evidence presented at the hearing supported the value placed upon the above -described property as set forth below. Such evidence indicated the value was reasonable, equitable, and derived according to the methodologies, percentages, figures and formulas dictated by law. This decision is based upon the Board's analysis of the written and oral testimony presented by both parties. Further that it is the Board's decision that the taxpayer/did not present sufficient evidence to show that the value of the property was not reasonably valued by the Assessor. The Assessment and valuation of the Weld County Assessor was affirmed as follows: ACTUAL VALUE AS ACTUAL VALUE AS DETERMINED BY ASSESSOR SET BY BOARD $73,125.00 $73,125.00 cc; PS 2- Si- 020/3 2013-2009 AS0085 A denial of a petition, in whole or in part, by the Board of Equalization must be appealed within thirty (30) days of the date the denial is mailed to you. You must select only one of the following three (3) options for appeal: 1. Appeal to Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's decision to the Colorado Board of Assessment Appeals. A hearing before that Board will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the Board of Assessment Appeals is further appealed to the Court of Appeals pursuant to C.R.S. Section 39-8-108(2), only the record of proceedings from your hearing before the Board of Assessment Appeals and your legal brief are filed with the appellate court. All appeals to the Board of Assessment Appeals filed after August 10, 2013, MUST comply with the following provisions of C.R.S. Section 39-8-107(5): (5)(a)(I) On and after August 10, 2013, in addition to any other requirements under law, any petitioner appealing either a valuation of rent -producing commercial real property to the board of assessment appeals pursuant to section 39-8-108(1) or a denial of an abatement of taxes pursuant to section 39-10- 114 shall provide to the county board of equalization or to the board of county commissioners of the county in the case of an abatement, and not to the board of assessment appeals, the following information, if applicable: (A) Actual annual rental income for two full years including the base year for the relevant property tax year; (B) Tenant reimbursements for two full years including the base year for the relevant property tax year; (C) Itemized expenses for two full years including the base year for the relevant property tax year; and (D) Rent roll data, including the name of any tenants, the address, unit, or suite number of the subject property, lease start and end dates, option terms, base rent, square footage leased, and vacant space for two full years including the base year for the relevant property tax year. (II) The petitioner shall provide the information required by subparagraph (I) of this paragraph (a) within ninety days after the appeal has been filed with the board of assessment appeals (b)(I) The assessor, the county board of equalization, or the board of county commissioners of the county, as applicable, shall, upon request made by the petitioner, provide to a petitioner who has filed an appeal with the board of assessment appeals not more than ninety days after receipt of the petitioner's request, the following information: (A) All of the underlying data used by the county in calculating the value of the subject property that is being appealed, including the capitalization rate for such property; and (B) The names of any commercially available and copyrighted publications used in calculating the value of the subject property. (II) The party providing the information to the petitioner pursuant to subparagraph (I) of this paragraph (b) shall redact all confidential information contained therein. (c) If a petitioner fails to provide the information required by subparagraph (I) of paragraph (a) of this subsection (5) by the deadline specified in subparagraph (II) of said paragraph (a), the county may move the board of assessment appeals to compel disclosure and to issue appropriate sanctions for noncompliance with such order. The motion may be made directly by the county attorney and shall be 2013-2009 AS0085 accompanied by a certification that the county assessor or the county board of equalization has in good faith conferred or attempted to confer with such petitioner in an effort to obtain the information without action by the board of assessment appeals. If an order compelling disclosure is issued under this paragraph (c) and the petitioner fails to comply with such order, the board of assessment appeals may make such orders in regard to the noncompliance as are just and reasonable under the circumstances, including an order dismissing the action or the entry of a judgment by default against the petitioner. Interest due the taxpayer shall cease to accrue as of the date the order compelling disclosure is issued, and the accrual of interest shall resume as of the date the contested information has been provided by the taxpayer. Appeals to the Board of Assessment Appeals must be made on forms furnished by that Board, and must be mailed or delivered within thirty (30) days of the date the denial by the Board of Equalization is mailed to you. The address and telephone number of the Board of Assessment Appeals are: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, Colorado 80203 Telephone Number: 303-866-5880 Fees for Appeal to the Board of Assessment Appeals: A taxpayer representing himself is not charged for the first two (2) appeals to the Board of Assessment Appeals. A taxpayer represented by an attorney or agent must pay a fee of $101.25 per appeal. OR 2.. Appeal to District.Court: You have the right to appeal the decision of the Board of Equalization to the District Court of the /county wherein your property is located: in this case that is Weld County District Court. A hearing before The District Court will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the District Court is further appealed to the Court of Appeals pursuant to C.R.S. Section 39-8-108(1), the rules of Colorado appellate review and C.R.S. Section 24-4-106(9), govern the process. OR 3. Binding Arbitration: You have the right to submit your case to binding arbitration. If you choose this option, the arbitrator's decision is final and you have no further right to appeal your current valuation. C.R.S. Section 39-8-108.5 governs this process. The arbitration process involves the following: a. Select an Arbitrator: You must notify the Board of Equalization that you will pursue arbitration. You and the Board of Equalization will select an arbitrator from the official list of qualified people. If you cannot agree on an arbitrator, the District Court of the county in which the property is located (i.e., Weld) will select the arbitrator. b. Arbitration Hearing Procedure: Arbitration hearings are held within sixty (60) days from the date the arbitrator is selected, and are set by the arbitrator. Both you and the Board of Equalization are entitled to participate in the hearing. The hearing is informal. The arbitrator has the authority to issue subpoenas for 2013-2009 AS0085 witnesses, books, records documents and other evidence pertaining to the value of the property. The arbitrator also has the authority to administer oaths, and determine all questions of law and fact presented to him. The arbitration hearing may be confidential and closed to the public if you and the Board of Equalization agree. The arbitrator's decision must be delivered personally or by registered mail within ten (10) days of the arbitration hearing. c. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the Board of Equalization. In the case of residential real property, the fess may not exceed $150.00 per case. For cases other than residential real property, the arbitrator's total fees and expenses are agreed to by you and Board of Equalization, but are paid by the parties as ordered by the arbitrator. If you have questions concerning the above information, please contact me at (970) 336-7215, Ext 4226. gVe truly yours, Esther E. Gesick, Deputy Clerk Weld County Board of County Commissioners Cc: Christopher Woodruff, Weld County Assessor 2013-2009 AS0085 Weld County CHRISTOPHER M. WOODRUFF COUNTY ASSESSOR BRENDA DONES, DEPUTY ASSESSOR VALUATION REPORT OF COMMERCIAL PROPERTY FOR Weld County Board of Equalization DAY PETER DAY SUSAN B PETITIONER VS. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 1467-02-3-10-006 Schedule Number: R6778825 Log Number: 7560 Date: 7/30/2013 Time: 9:15 AM Board: CBOE PREPARED BY WADE J. MELIES WELD COUNTY ASSESSOR'S OFFICE STAFF APPRAISER ASSESSOR'S VALUE COMMERCIAL $73,125 2013-2009 Page I Weld County CHRISTOPHER M. WOODRUFF COUNTY ASSESSOR BRENDA DONES, DEPUTY ASSESSOR VALUATION REPORT OF COMMERG AL PROPERTY FOR Weld County Board of Equalization DAY PETER DAY SUSAN B PETITIONER VS. WELD COUNTY ASSESSOR'S OFFI CE RESPONDENT Parcel Number: 1467-02-3-10-006 Schedule Number: R6778825 Log Number: 7560 Date: 7/ 30/ 2013 Time: 9:15 AM Board: CBOE PREPARED BY WADE. MELIES WELD COUNTY ASSESSOR'S OFFICE STAFF APPRAI SER ASSESSOR'S VALUE COMMERCIAL $73,125 CBOECOMM 010998 Page 1 SALI ENT FACTSAND CONCLUSI ONS Purpose of Appraisal To determine Market Value as of 1/ 1/ 13 based on an appraisal date of 6/ 30/ 12. Property Rights Appraised Unencumbered fee simple interest. Location 151 MT ELBERT AV, Unit D6 DAWN O Zoning I-1 Light Industrial Property Type Condo Warehouse Condo Year Built 2009 Quality Average Class Metal Frame Number of Stories 1 Improvement Sq. Ft. 1,125 Value Indications: Market Approach $84,375 Income Approach $55,300 Reconciled $73,125 CBOECOMM 010998 Page 2 Subject Neighborhood Map Nibaritit Mrs%a •' rte, -Artist Cr� �y'it - _ ,t Min ic :I . na r i Glacier Business Park IN -OE Cs-ar i C Subject ACWAY Interstate Ford Ku rn & Go Subject Development Sub' ect Devel o 146702310010 tell 146702310011 I 2 146702310012 I 3 14670231001311 146702310014 5 1467023 09999 1467023 i• i6 146702310016 17 I 146702310017 '8 146702310018 1009 ment Aerial r 146702309001 1 l 146702309002 146702309003 146702309004 I 146702309005 146702309006 146702309O07 146702309008 146702309, 09 146702309010 146702309011 146702309012 1 _ *AND VIEW A - sera 4. Mop cantor 40' 4' 48-6_14, 104' St 17' W ` Map Layers [ Edit ] Q CBOECOMM 010998 Page 3 Subject Photo Subject Sketch First Floor 18750.0 sf 250' 1 Units i i � n 1 t 1t_; H 20' 30' Unit 1125.0 D6 sf in 1- CBOE_COMM _010998 Page 4 THE SUBJECT The subject is located in the Garage Unitz Condominium Development which is located on the east side of Interstate 25 and approximately one mile south of Highway 52. The development consists of 30 units in two buildings. One unit serves as the sales office and club house. Future development is planned; this plan can be seen in the addendum. The subject unit has two over head doors with electric openers and a space heater. COST APPROACH SUMMARY The subject property is a condominium unit. Since the subject property is a condominium by definition, the land and buildings are owned by the condominium association. The unit owner owns the right to use the air space within their unit. For this report the Cost Approach is not applicable. CBOECOMM 010998 Page 5 MARKET APPROACH SUMMARY Real property for the tax year 2013 must be valued utilizing the level of value for the period of one and one-half years immediately prior to June 30th, 2012. A period of five years immediately prior to July 1, 2012 shall be utilized to determine the level of value if adequate data is not available from such one and one-half year period to adequately determine the level of value for a lass of property. Said level of value shall be adjusted to the final day of the data -gathering period. Changes occurring between base years are not to be accounted for until the fol lowi ng level of value is implemented, other than additions, change in use, detrimental acts of nature, damage due to fire, etc., creation of a condominium, new regulations restricting or increasing the use of the land, or a combination thereof {39-1-104(11)(b)(I),CRS}. The comparable sales in this report were selected using county records, as wel l as the Multiple Listing Services. The Weld County Assessor's Office has verified that the comparable sales are arms -length transactions based on review of the Real Property Transfer Dedaration, telephone or personal confirmation interviews and physical inspections to confirm property characteristics at the time of sale. The subject property was purchased 10/ 25/ 2011 for $101,600 or $90.31 per square foot. There are limited number sales in the subject development and these sales are all first time sales from the developer. These sales may not accurately indicate a market value of the subject development. There are two other warehouse condominium developments in south west Weld County. Garage Town is located west of Interstate 25 and just south of Highway 119 and is considered slightly superior to the subject development. Frederick West Business Park Condos is located on the east side of Interstate 25 and approximately half way between Highway 119 and Highway 52. Frederick West Condos are very similar to the subject. The sales from all throe developments are presented in thefollowi ng tables and used to establish a market value for the subject property. There are 29 sales in the extended base period. These sales develop a range from $56 to $93 dollars per square foot and an average of $77 per square foot. Based upon investigation and analysis, it is the opinion of the appraiser that the value of $75 per square foot accurately reflects the market value of the subject property. VALUE As I NDICATED BY THE MARKET APPROACH $84,375 CBOECOMM 010998 Page 6 Warehouse Condominium Sales in SVV Weld County Garage Unitz Built As Total Imp SF Sale Dt Sale Price Sale Price/SF Parcel # NBHD PropType Location City Warehouse 1125 12 -Nov -10 $101,300.00 $90.04 146702310003 3929 Condo DACONO Warehouse 1125 02 -Jun -11 I $103,100.00 $91.64 146702310005 3929 Condo I DACONO Warehouse 1125 21 -Oct -11 $101,600.00 $90.31 146702310006 3929 Condo DACONO Range Frederick West $90.04 $91.64 Average $90.51 Median $90.18 Built As Total Imp SF Sale Dt Sale Price Sale Price/SF Parcel # NBHD PropType Location City Warehouse 916 29 -Nov -10 $60,000.00 $65.50 131326213004 3913 Condo FREDERICK Warehouse 916 01 -Mar -11 $60,000.00 $65.50 131326213005 3913 Condo FREDERICK Warehouse 957 01 -Apr -11 $75,000.00 $78.37 131326214009 3913 Condo FREDERICK Warehouse 957 18 -Nov -11_ $60,000.00 $62.70 131326214005 3913 Condo FREDERICK Warehouse 957 25 -Apr -12 $57,500.00 $60.08 131326214003 3913 Condo FREDERICK Warehouse 957 25 -Apr -12 $57,500.00 $60.08 131326214006 3913 Condo FREDERICK Warehouse 1171 04 -May -12 $81,300.00 $69.43 131326214011 3913 Condo FREDERICK Warehouse 957 07 -Jun -12 $57,500.00 $60.08 131326214008 3913 Condo FREDERICK Warehouse 957 07 -Jun -12 $57,500.00 $60.08 131326214007 3913 Condo FREDERICK Warehouse 1055 27 -Jun -12 $71,500.00 $67.77 131326214002 3913 Condo FREDERICK Warehouse 1171 27 -Jun -12 $81,300.00 $69.43 131326214001 3913 Condo FREDERICK Range $60.08 $78.37 Average $65.37 Median $65.50 CBOE_COMM_010998 Page 7 Garage Town Built As Total Imp SF Sale Dt Sale Price Sale Price/SF Parcel # NBHD PropType Location City Warehouse 960 12 -Jul -10 $89,500.00 $93.23 131310120203 3919 Condo WELD Warehouse 960 25 -Apr -11 $82,500.00 $85.94 131310120218 3919 Condo WELD Warehouse 1152 04 -May -11 $98,000.00 $85.07 131310120207 3919 Condo WELD Warehouse 960 01 -Jun -11 $84,000.00 $87.50 131310120611 3919 Condo WELD Warehouse 1200 01 -Jul -11 $92,000.00 $76.67 131310120108 3919 Condo WELD Warehouse 960 04 -Aug -11 $72,000.00 $75.00 131310120504 3919 Condo WELD Warehouse 1200 07 -Sep -11 $80,000.00 $66.67 131310120414 3919 Condo WELD Warehouse 960 07 -Nov -11 $69,000.00 $71.88 131310120503 3919 Condo WELD Warehouse 1200 29 -Nov -11 $77,500.00 $64.58 131310120412 3919 Condo WELD Warehouse 960 10 -Jan -12 $84,000.00 $87.50 131310120613 3919 Condo WELD Warehouse 1200 02 -May -12 $85,000.00 $70.83 131310120411 3919 Condo WELD Warehouse 1344 15 -May -12 $99,000.00 $73.66 131310120404 3919 Condo WELD Warehouse 768 31 -Mary 2 I $43,000.00 $55.99 131310120518 3919 Condo WELD Warehouse 768 29 -Jun -12 $60,000.00 $78.13 131310120505 3919 Condo WELD Range $55.99 $93.23 Overall Range $55.99 $93.23 Average $77.50 Median $71.88 Average $76.62 Median $75.83 CBOE_COMM_010998 Page 8 Subject Development Sales Map Subject 1467023 0001 146702310011 146702310002 146702310012 0.025 146702310013 0.026 146702310004 146:7,0231001 1467 00.1. S 146702309002inIMION i ale 146702309003 146702309004 146702309005 146702309006 146702309008 0.023 146702309009 146702309010 lir 146702309011 146702309012 CMap ' Iter. 40' 4' Map Legend ,_ � 1_J II Weld County Boundary Highway Roads ParcelAcres Parcel Hydro Sales 2007 2008 2009 2010 2011 2012 2013 Sales in dark yellow and orange are sale in the base period CBOECOMM 010998 Page 9 I NCOME APPROACH SUMMARY The Weld County Assessor has appropriately considered the IncomeApproach to value for the Sbject property on appeal. The Assessor has gathered income information from local commercial properties for the time frame of January 1, 2011 through June 30, 2012. This information, combined with statewide and industry -wide data, is used to determine typical income and expenses for various property types. In conclusion of the IncomeApproach, the Assessor has considered both groups of data and has put more emphasis on the local factors and data than the state and national data. This information was then applied to the subject property to arrive at an appropriate Income Approach Value. TOTAL I NCOME VALUE FOR THE SUBJECT PROPERTY $55,300 Typically this type of property is owner occupied. If an owner is not occupying their unit, they rent it for an amount that will cover their expenses, HOA fees and property taxes, not to make a profit. This type of property is built to profit from the income of selling the individual condo units. The subject developer is currently leasing the units that have not boon sold. During the base period, the developer had 19 units rented and 3 units vacant. The average rent per square foot, including vacancy was $7.51. Garage Unitz Performa Font per S.f. Mngt 5% F&v 3% HOA Fees Total Expen Average $7.51 $0.38 $0.23 $0.46 $1.06 NOI $6.45 Indicated Value per s.f Total Assmnt' 0.29 $49.16 1,125 $55,300 rounded MillLevy Mkt Cap Eff Cap 0.142126 0.09 0.13122 CBOECOMM 010998 Page 10 CONCUSI ON Real property for the tax year 2013 must be valued utilizing the level of value for the period of one and one-half years immediately prior to June 30th, 2012. A period of five years immediately prior to lily 1, 2012 shall be utilized to determine the level of value if adequate data is not available from such one and one-half year period to adequately determine the level of value for a dass of property. Said level of value shall be adjusted to the final day of the data -gathering period. Changes occurring between base years are not to be accounted for until the fol lowi ng level of value is implemented, other than additions, change in use, detrimental acts of nature, damage due to fire, eta, creation of a condominium, new regulations restricting or increasing the use of the land, or a combination thereof {39-1-104(11)(b)(I), CRS}. The subject property has been classified as Commercial Property for assessment purposes. Commercial property value shall be determined by appropriate consideration of the Cost Approach, Market Approach, and Income Approach to value. {39-1-103(5)(a) C. R. S.} The Assessor has considered all throe approaches to value for the subject parcel on appeal. FINAL RECONCILIATION As the subject property is owner occupied, the IncomeApproach is given minimal weight. After consideration of the cost, market and income approaches the Market Approach to value was given more weight in consideration that there are 29 warehouse condominium sales, induding the subject. It is the Weld County Assessor's opinion that the val ue of $73,125, most accurately reflects the value of the subject property in Weld County for the 2013 tax year. COST APPROACH MARKET APPROACH INCOME APPROACH n/a $84,375 $55,300 ASSESSOR'S VALUE COMMERCIAL $73,125 CBOECOMM 010998 Page 11 APPRAI SAL STANDARDSAND ETHICS CERT I Fl CAT I ON I certify to the best of my knowledge and belief that: The statements of fact contained in this report are true and correct. The reported analyses, opinions and condusions are limited only by the reported assumptions and limiting conditions and is my personal unbiased professional analyses, opinions and conclusions. I have no present or prospective interest in the property that is the subject of this report, and I have no personal interest or bias with respect to the parties involved. My compensation is not contingent on an action or event resulting from the opinion or conclusions in, or the use of, this report. My analyses, opinions and conclusions were developed, and this report has boon prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. No one provided significant professional assistance to the person signing this report. I have made a personal inspection of the property that is the subject of this report. zeye, Wade J.Mel ies Colorado Certified General Appraiser CG40036400 CBOECOMM 010998 Page 12 ADDENDUM Unitz LLC Fent FoII Tax Period -07/O1/10toO6/3O/12 Unitz Rental Income Font Income Fental Unit Rented Unit Sales Rice &Ile per sf per sf aatus Footage Sq. Footage B-1 $9,000.00 $9.18 980 980 B-2 $7,225.73 $6.57 1,100 1,100 B-3 $1,600.00 $1.45 1,100 1,100 B-4 Sold 1,000 $100,500 $100.50 B-5 Sold 1,000 $90,000 $90.00 B-6 $1,790.00 $1.79 1,000 1,000 B-7 $14,400.00 $13.09 1,100 1,100 B-8 Sold 1,000 $90,000 $90.00 B-9 $10,550.00 $10.55 1,000 1,000 B-10 $11,400.00 $10.36 1,100 1,100 B-11 $8,900.00 $8.90 1,000 1,000 B-12 $9,637.33 $8.76 1,100 1,100 D-1 Club House 750 D-2 Vacant 1,125 1,125 D-3 Sold 1,125 D-4 $330.00 $029 1,125 1,125 D-5 Sold 1,125 D-6 Sold 1,125 D-7 $315.00 $0.28 1,125 1,125 D-8 $16,950.00 $15.07 1,125 1,125 D-9 $6,950.00 $9.27 750 750 D-10 $8,050.00 $11.03 730 730 D-11 Vacant 1,125 1,125 D-12 $5,165.00 $4.59 1,125 1,125 $101,300 $90.04 $103,100 $91.64 $101,600 $90.31 CBOE_COMM_010998 Page 13 Unitz Fental Income Fent Income Rental Unit Sq. Rented Unit per sf Satus Footage Sq. Footage D-13 Sold 1,125 D-14 Vacant 1,125 1,125 D-15 $3,075.00 $2.73 1,125 1,125 D-16 $18,000.00 $16.00 1,125 1,125 D-17 $4,000.00 $3.56 1,125 1,125 D-18 $6,933.24 $9.24 750 750 Total $144,271.30 Average Annual $72,135.65 Income Rent Range Average Median per square foot $0.28 $16.00 $7.51 $8.90 Total Rental Sq. 22,960 Sales Price Sale per sf Vacancy Included $3.14 Average $98,257 $92 Sale Rice CBOE_COMM_010998 Page 14 FUTURE DEVELOPMENT SITE PLAN Cizga= Unit: 'Senn = t = Casmutir. ga ra ge U n itz Sente mgr c;orirnunty tn. �••••�- : : . rem Artistic Rendering of garaget'nitz Site :at :' t trelltrIlreelirs I''VL A1. 1 CBOECOMM 010998 Page 15 a :1 0i-ua•:ur 141 mend 4, ir• Sites ••at • awns i :ad' •. t• .r• um.�.I.r•r a • ter• 1; 2013 CBOECOMM 010998 Page 17 NOTICE OF DETERMINATION Christopher M. Woodruff Weld County Assessor 1400 N 17th Ave Greeley, CO 80631 ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R6778825 2013 3271 UNIT D6 BLDG D GARAGE UNITZ AT DACONO CONDO 151 MT ELBERT AV D6 DACONO, CO 000000000 PROPERTY OWNER DAY PETER 13631 TELLURIDE DRIVE BROOMFIELD, CO 800206004 PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW COMMERCIAL 73,125 73,125 TOTAL $73,125 $73,125 The Assessor has carefully studied all available information, giving particular attentth ion to e specifics included on your protest. The Assessor's determination of value after review is based on the following: Date of Notice: 6/27/2013 Telephone: (970) 353-3845 Fax: (970) 304-6433 Office Hours: 8:00 AM - 5:00 PM CM05 - The law requires that all of 2011 and the first 6 months of 2012 data be used to establish current values. We have considered all (3) three approaches to value in arriving at your current valuation. We have denied your appeal based upon this data. If you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equalization for further consideration, § 39-8-106(1)(a), C.R.S. The deadline for filing real property appeals is July 15. The Assessor establishes property values. The local taxing authorities (county, school district, city, fire protection, and other special districts) set mill levies. The mill levy requested by each taxing authority is based on a projected budget and the property tax revenue required to adequately fund the services it provides to its taxpayers. The local taxing authorities hold budget hearings in the fall. If you are concerned about mill levies, we recommend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional information. RECEIVED Ls:kJ WELD COUNTY COMMISSIONEPC 15-DPT-AR PR 207-08/13 R6778825 18206 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 1400 N 17 AVE. To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail or deliver a copy of both sides of this form to: Weld County Board of Equalization 1150 0 Street, P.O. Box 758 Greeley, CO 80631 Telephone: (970) 356-4000 ext, 4225 To preserve your appeal rights, your Petition to the County Board of Equalization must be postmarked or delivered on or before July 15 for real property — after such date, your right to appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of mailing. You will be notified of the date and time scheduled for your hearing. The County Board of Equalization must mail a written decision to you within five business days following the date of the decision. The County Board of Equalization must conclude hearings and render decisions by August 5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by September 12, § 39-2-125(1)(e), C.R.S. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals District Court 1313 Sherman Street, Room 315 Contact the District Court in the County Denver, CO 80203 where the property is located. See your (303) 866-5880 local telephone book for the address and www.dola.colorado.gov/baa telephone number. Binding Arbitration For a list of arbitrators, contact the County Commissioners at the address listed for the County Board of Equalization. If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on the next business day, § 39-1-120(3), C.R.S. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2012? (Your opinion of value in terms of a spe ifjc dollar amount is required for real property pursuant to § 39-8-106(1.5), C.R.S.) What is the basis for your estimate of value or your reason for requesting a review? (Please attach additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent roll, original installed cost, appraisal, etc.) ..r-Alee31 iPg 7 ,=1% — 5--4*- Ai77-i i19�/J'7 .. , z-5 a, ' !v?ss-5s !lacy c- -Nc:; .% /,ii _h4 i/=le 47-/ lV c> Ek.- P47. rTl/}'L: 77,2 //�. 1J E e/527-,. I ATTESTATION I, the undersigned owner or agent4" of the property identified above, affirm that the statements contained herein an n ny attachments hereto are true and complete. ____ Signatur Errel 72-2-73 -3V57/ 7/Z/�2'6: Telephone Number Date r f� /],e3/e- 452 Attach letter of authorization signed by property owner. / %D .);A — Ai -'e<- L.i�idVc=" c- c, 1-c 5—/6 Address 15-DPT-AR PR 207-08/13 R6778825 18206 Peter and Susan Day 1910 Windemere Lane Erie, CO 80516 Weld County Board of Equalization 1150 O Street, P.O. Box 758 Greeley, CO 80631 July 12, 2013 RE: Appeal of Assessed Value/Classification — Unit D6 Bldg D GarageUnitz at Dacono Condo (Account# R6778825) Dear Board: I am writing this letter to appeal the 2013 Notice of Determination for Peter Day for a property located at 151 Mt Elbert Avenue, Dacono, CO 80514 (Unit D6 — Account# R6778825). My wife, Susan B. Day and I would like to appeal the Assessor's decision of both the classification and the value of the above property. My wife and I have recently "downsized" to a property in Erie from a much larger property in Broomfield. As retirees and senior citizens; we required a property with no exterior maintenance and single level living space. This meant that the storage space available including the garage was commensurately less. In anticipation of this event, we purchased a garage unit at the GarageUnitz storage complex to house our show cars and miscellaneous personal property and equipment. The GarageUnitz unit D6 is currently serving the same purpose as the attached garage in our previous Broomfield house. Please find attached some pictures of the D6 unit showing its present usage. Therefore, we maintain that that the GarageUnitz unit is being used as residential storage just as if we had built a shed on land contiguous with our residence. CRS Section 39-1-102 defines "residential improvements" as also including "buildings, structures, fixtures, fences, amenities and water rights that are an integral part of the residential use". We also would respectfully maintain that the unit's current designation as commercial property is an incorrect description of its use and purpose and is better suited to the definition of residential improvements. Hence, I would respectfully request that the board change the classification of GarageUnitz Unit D6 to RESIDENTIAL. The assessed value of each individual garage was based on a per square foot basis of sales data collected from similar properties sold during the assessment period. During the time frame from July 1, 2010 to June 30, 2012, there were seven (7) sales at Garage Unitz. As of June 30, 2012, there were a total of seven (7) units sold, nineteen (19) units rented and four (4) vacant units. Based on the fact that we are predominantly a rental facility, the income approach to valuation should be used to determine an appropriate valuation at this location. We have attached a calculation of the value per square foot based on the income approach using the rental activity data as of June 30, 2012. Under the income approach on the attached spreadsheet, the value per square foot would be $22.18. Based on this value per square foot, the value of Unit D6 would $24,952.50 for 1,125 square feet. Based on the commercial classification of this product and the commercial tax rate of 29%, the tax assessed at the current valuation of $73,125 would be $3,014 for a 1,125 square foot garage that is used to store personal household goods and vehicles. This equates to a per square foot real estate tax of $2.68 per foot. Based on the Garage Unitz rental information attached, the average rental income received per square foot is $3.70 per foot for units rented for residential storage purposes. It is inequitable and not in good conscience to assess taxes of $2.68 per square foot on a product that it producing $3.70 per square foot in gross rental income. There is a fairness issue at work here. In the event that the board does not change the classification to RESIDENTIAL, I respectfully request that the board change the valuation of GarageUnitz D6 to $24,952 — the only evaluation reasonably supported by the income producing facts presented here. If a consumer owns or rents a garage and stores personal property there, regardless if it is contiguous or not, it is a residential improvement that should be assessed at the residential tax rate. I request that this letter be made part of the record of the hearing. Thank you in advance for your consideration. Sincely, 427 Peter Day P.S. Please note our new address at the top of this letter. The owner address stated on the NOD is incorrect. A change of address form has been completed and sent to the County Assessor's office today. Attachments: Income approach calculation Notice of Determination for GarageUnitz Unit D6 Photos of present use Peter & Susan Day Unit D6 - Account# R6778825 Property Tax Appeal May 30, Z013 Income Approach: As of June 30, 2012, Unitz, LLC had 7 units sold, 19 units rented and 4 vacant units. As such, there was a 13.33% vacancy rate as of 06/30/12 . The following information is taken from the actual lease data from July 1, 2010 to June 30, 2012. Monthly Rental Income (Gross) 6,011 times: Months in Year 12 Annual Rental Income (Gross) 72,132 divided by: Square Footage of Rented Units 19,485 Rental Price per Square Foot 3.70 Less: Vacancy (13.33%) Less: Management Fees (5%) Less: Reserves (3%) Adjusted Rental Price per Square Foot divided by: Adjusted Capitalization Rate Value per Square Foot based on Income Approach Square Footage of Unit D6 Value of Unit D6 based on Income Approach Capitalization Rate Calculation: Commercial Tax Rate x Mill Levy (0.49) (0.19) (0.11) 2.91 0.13121654 (A) $22.18 1,125 $24,952.50 0.29 0.142126 0.04121654 + Capitalization Rate 0.09000000 Adjusted Capitalization Rate 0.13121654 (A) t 11 July 22, 2013 CLERK TO THE BOARD PHONE (970) 336-7215, EXT 4226 FAX (970) 352-0242 WEBSITE: www.co.weld.co.us 1150 O STREET P.O. BOX 758 GREELEY CO 80632 DAY PETER 13631 TELLURIDE DRIVE BROOMFIELD, CO 800206004 Account No.: R6778825 Dear Petitioner(s): The Weld County Board of Equalization has set a date of July 30, 2013, at or about the hour of 9:15 AM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Administration Building, Assembly Room, 1150 O Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5, 2013, and mailed to you on or before August 12, 2013. Because of the volume of cases before the Board of Equalization, most cases shall be limited to 10 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position. This may include evidence that similar homes in your area are valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented evidence as indicated above, the Board will have no choice but to deny your appeal. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request directly to the Assessor's Office by fax (970) 304-6433, or if you have questions, call (970) 353-3845. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information, at which time the Assessor will make the data available within three (3) working days, subject to any confidentiality requirements. AS0085 DAY PETER - R6778825 Page 2 Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information, please call me at your convenience. Very truly yours, BOARD OF EQUALIZATION Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor AS0085 Tammy Waters From: Sent: To: Subject: Pete Day [pete13631@gmail.com] Wednesday, July 31, 2013 3:46 PM Tammy Waters RE: withdrawal of assessment petition Tammy, As a follow up to our phone messages, please accept this email as notification of the withdrawal of the petition for review of the property tax assessment for account# R6778825. Further, please cancel the review with the Board of Equalization currently scheduled for Friday August 2nd at 10:30 am. I would like to apologize to yourself and to the Board for any inconvenience I have caused. Thank you, Pete Pete Day pete13631@gmail.com Cell: 720.273.3454 VlCstf_let — I�'t 113. Vvnhc� dwCL tt3 4s CCLviC9 Q Y Uvs \/11Z w U� C�l�a 4 Oat W, -O,, "1O&vc( Ottcyk ctD✓-- 1 BOE SUMMARY SHEET Account Number: R6778825 DAY PETER 13631 TELLURIDE DRIVE BROOMFIELD, CO 800206004 HEARING DATE: July 30, 2013, AT 9:15 AM HEARING ATTENDED? (Y AGENT NAME: APPRAISER NAME: NAME: DECISION ACTUAL VALUATION APPROVE BY ASSESSOR SET BY BOARD TOTAL ACTUAL VALUE $73,125.00 73 4 0 COMMENTS: MOTION BY 1Jk TO (69/1'l.t,1 SECONDED BY Failed to prove appropriate value No comparables given Assessor's value upheld Other: Conway -- Garcia -- Kirkmeyer -- reery t6eng- Rademacher -- /N) /N) /N) /N) /N) RESOLUTION NO. 2013-2009 M:\CBOE\Letter Templates\Summary Sheet.docx Hello