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Home My WebLink About20132067August 13, 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 CSA19 RIVERWALK SQUARE LLC 3030 E CAMELBACK RD PHOENIX, AZ 85016 RE: THE BOARD OF EQUALIZATION 2013, WELD COUNTY COLORADO APPROVAL OF STIPULATION BETWEEN PETITIONER AND ASSESSOR ACCOUNT NO.: See Attached Dear Petitioner: On August 01, 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 request to approve and adopt a valuation of your property arrived at by a Stipulation between you and the Weld County Assessor, for the year 2013. The Board of Equalization found that the evidence presented at the hearing supported the stipulated 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. ACTUAL VALUE AS STIPULATED VALUE DETERMINED BY ASSESSOR APPROVED BY BOARD $5,657,985.00 $4,800,000.00 The above 'Stipulated Value' is the value which will be used in the calculation of your property taxes for 2013. This value is not appealable. If you have questions concerning the above information, please call me at (970) 336-7215, Ext. 4226. Ve truly yours, Esther E. Gesick, Deputy Clerk Weld County Board of County Commissioners Cc: Christopher Woodruff, Weld County Assessor DOWNEY & ASSOCIATES 383 INVERNESS PARKWAY SUITE 300 ENGLEWOOD, CO 80112 Cue R* c36 2013-2067 AS0085 Accounts for Petitioner: CSA19 RIVERWALK SQUARE LLC Account: Assessor Value: R2808386 I R2810886 R2810986 CBOE Value: $262,890.00 $70,438.00 $5,324,657.00 $262,890.00 I $70,438.00 I $4,466,672.00 COUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number R2810986, R2810886, R2808386 STIPULATION (As To Tax Year_2013_ Actual Value) RE PETITION OF : CSA19 Riverwalk Square LLC NAME: CSA19 Riverwalk Square LLC ADDRESS: 822 7th Street Greeley, Co Petitioner (s) and the Weld County Assessor hereby enter into this Stipulation regarding the tax year 2013 valuation of the subject property, and jointly move the Board of Equalization to enter its order based on this Stipulation. Petitioner (s) and Assessor agree and stipulate as follows: 1. The property subject to this Stipulation is described as: GR 4832 L8 TO 26 BLK44 TOGETHER WITH VAC N -S ALLEY ADJ TO LOTS 12 THRU 23 & E -W VAC ALLEY ADJ TO LOTS 9 THRU 12 LOTS 17 & 18 & LOTS 23 THRU 26 (aka 822 7 St, Greeley) also GR 4830 L1 TO 7 BLK44 (ANNEX BLDG) also OR 4792 L9 & 10 N2 L11 & 12 ALL L13 THRU 20 BLK37 ALSO S2 VACATED ALLEY ADJ L13 THRU 19 EXC E5' OF ALLEY ADJ L19 ALSO EXC W8.65' OF S2 L13 2. The subject property is classified as Commercial Bank/office property. 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2013: Total $5,657,985.00 4. After further review and negotiation, Petitioner (s) and Weld County Assessor agree to the following tax year 2013 actual value for the subject property: Total $4,800,000.00 5. The valuation, as established above, shall be binding only with respect to tax year 2013. 6. Brief narrative as to why the reduction was made: The attorney for the petitioner provided two fee appraisals. The first was dated 12/02/2011 done by CBRE (Richard Ellis) for $4,800,000. The second was dated 11/2012 done by Cushman & Wakefield for $4,600,000. for 2013 was reconsidered due to these reports at $4,800,000. R2810986, R2810886, R2808386 1 2013-2067 JUL 22 20Th JELD COUNTY i ASSESSON GRE Y, COLORADO AD *r 7. Both parties agree that: The hearing scheduled before the Board of Equalization on (Date) at (Time) be vacated. )IA hearing has not yet been scheduled before the Board of Equalization. DATED this 18 day of July, 2013. Petitioner(s) or Agent or Attio Attorney for Petitioner Attorney Reg. No. 9686 It y DOWNEY & ASSOCIATES, PC 383 Inverness Parkway _ Suite 300 - Englewood, CO 80112 Telephone: 503 Docket Number Stip-1.Frm R2810986, R2810886, R2808386 istt) County Attorney for Respondent, Weld County Board of Commissioners Address: 1150 "O" Street P.O. Box 758 Greeley, CO 80632. Telephone:(970) 336-7235 County ss-sso Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 353-3845 ext. 3697 2 Schedule # R2810986 R2810886 R2808386 Total Orininally assigned $5,324,657 $70,438 $262,890 $5,657,985 Stipulated $4,466,672 $70,438 $262,890 $4,800,000 l:. Charles Jack From: Marian Brennan [Marian@downeylawpc.com] Sent: Monday, July 22, 2013 12:23 PM To: Charles Jack Cc: Tom Downey; Sue Schield Subject: Greeley Plaza - R2810986, R2810886, R2808386 Attachments: 2013-7-22 - Stipulation - Greeley Plaza.pdf Mr. Jack, Attached please find a copy of the above referenced stipulation signed by Mr. Downey. I will also be returning the original to you in today's mail. Please contact me if you have any questions. Thank you, Marian Brennan Downey & Associates, P.C. 383 Inverness Parkway Suite 300 Englewood, CO 80112 Telephone: 303-813-1111 Fax: 303-813-1122 The preceding e-mail message (including any attachments) contains information that may be confidential, be protected by attorney -client or other privileges, or constitute non-public information. It is intended to be conveyed only to the designated recipient(s). If you are not an intended recipient of this message, please notify the sender by replying to this message and then delete it from your system. Use, dissemination, distribution, or reproduction of this message by unintended recipients is not authorized and may be unlawful. FEDERAL TAX ADVISE DISCLAIMER: We are required by U.S. Treasury Regulations to inform you that, to the extent this message includes any federal tax advice, this message is not intended or written by the sender to be used, and cannot be used for the purpose of avoiding federal tax penalties. 1 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 R2808386 2013 2689 GR 4792 L9 & 10 N2 L11 & 12 ALL L13 THRU 20 BLK37 ALSO S2 VACATED ALLEY ADJ L13 THRU 19 EXC E5' OF ALLEY ADJ L19 ALSO EXC W8.65' OF S2 L13 , PROPERTY OWNER CSA19 RIVERWALK SQUARE LLC 3030 E CAMELBACK RD PHOENIX, AZ 85016 PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW COMMERCIAL VACANT LAND 76,942 185,948 76,942 185,948 TOTAL. $262,890 $262,890 The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest. The Assessor's determination of value after review is based on the following: CM01 - The Colorado Constitution requires commercial property to be valued based on actual value and assessed at 29%. Replacement cost, market, and income are approaches used to determine the actual value of your property. 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. Date of Notice: 6/27/2013 Telephone: (970) 353-3845 Fax: (970) 304-6433 Office Hours: 8:00 AM - 5:00 PM Please refer to the reverse side of this notice for additional information. DOWNEY & ASSOCIATES 383 INVERNESS PARKWAY SUITE 300 ENGLEWOOD, CO 80112 RE' WED JUL 11 0 2013 WELD COUNTY COMMISSIONERS 15-DPT-AR PR 207-08/13 R2808386 17938 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 O 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 specific dollar amount is required for real property pursuant to § 39-8-106(1.5), C.R.S.) $ tier t4\ -rte zc4 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.) See Attached ATTESTATION I, the undersigned owner or agent4a of the property identified above, affirm that the statements contained herein and o ny attachmept hereto are true and complete. r c3©,-813-1111 Attorney for Petitioner Y Telephone Number Attorney Reg. #9686 Email tom(7n,downeylawpc.com 45 Attach letter of authorization signed by property owner. Date V 04013 Address 15-DPT-AR PR 207-08/13 R2808386 17938 EXHIBIT "A" ATTACHMENT TO COUNTY BOARD OF EQUALIZATION PETITION OF CSA19 RIVERWALK SQUARE LLC- ACCOUNT NOS. R2808386, R2810886, R2810986 1. The Assessor has failed to give appropriate consideration to all the requisite approaches to valuation in determining the value of the property. 2. The current year actual value assigned by the assessor does not reflect the actual value of the subject property during the 18 month period ending June 30, 2012. 3. Upon consideration of all the approaches to value, values given to comparable land and improvements and upon consideration of the requirements of Colorado law that require that assessments be uniform, just and equitable, a reduction in the current year actual value of this property is warranted. 4. The value of $5,657,985/$49.55sf assigned to the subject property for 2013 is excessive and should be reduced. Although Petitioner appreciates the reduction in value from the 2012 value, its analysis to date indicates that the 2013 value assigned should be reduced. Analysis of the 2011-2012 economic performance of the property indicates an unadjusted range of value of $4,554,680 to $5,961.699 with an average of $5,258,189. Because the subject was 36% vacant on the Assessment Date, a further adjustment is required because of the excess vacancy of the subject property. The excess vacancy adjustments indicate an adjusted range of value between $4,113,484 and $5,520,503 with an average of $4,816,993. 5. The subject was appraised twice prior to the Assessment date. The first appraisal in December, 2011 concluded to a value of $4,800,000. The second appraisal, which although dated October, 2012 utilizes data primarily from the relevant base period, concludes to a value of $4,600,000. 6. Petitioner respectfully requests that the value of the subject property be reduced to $4,750,000. 7. Pursuant to C.R.S. § 39-8-107(3), Petitioner requests that the Assessor supply all data supporting the Assessor's determination of actual value to the undersigned no later than two working days prior to the CBOE hearing. 1 QA DOWNEY & ASSOCIATES, Pc A PROFESSIONAL CORPORATION July 9, 2013 VIA CERTIFIED MAIL RETURN RECEIPT REQUESTED Weld County Board of Equalization 1150 O Street, P.O. Box 758 Greeley, CO 80631 303 813-1111 Re: Account Nos. R2808386; R2810886 and R2810986 — CSA 19 Riverwalk Square LLC, Greeley, CO Account No. R4577286 —1009 Broad St., Milliken, CO Account No. R7411598 — 650 Glen Creighton Dr., Dacono, CO Account No. R2291686 —1701 23`d Ave., Greeley, CO Account No. R3575305 — 385 Justine Ave., Platteville, CO Account No. R0276895 -100 Johnstown Ctr., Johnstown, CO Account No. R6295986 — SG TRUST — 726 Baseline Pl., Brighton, CO Dear Clerk to the Board: We represent the owners of the above referenced real property ("Subject Property") in Weld County. Enclosed are the Petitions to the Board of Equalization protesting the denials, or inadequate adjustments, by the Weld County Assessor. I will not be available for hearings on July 15, July 25 and August 5, 2013. Please direct the Notice of Hearing on this matter to the undersigned. Petitioner, pursuant to C.R.S.§ 39-8-107(3), respectfully requests that the Assessor provide all data supporting the assessor's determination of actual value on these parcels to the undersigned no later than two working days prior to the CBOE hearing. Thank you for your cooperation in this regard. Should you have questions, please call. TED/ss Enclosures Very truly yours, Thomas E. Downey, Jr 383 Inverness Parkway o Suite 300 0 Englewood, Colorado 80112 a fax 303 813-1122 www.downeylawpc.com 0 www.coloradopropertytaxattorney.com 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 R2810886 2013 2689 GR 4830 L1 TO 7 BLK44 (ANNEX BLDG) 804 7 ST GREELEY, CO PROPERTY OWNER CSA19 RIVERWALK SQUARE LLC 3030 E CAMELBACK RD PHOENIX, AZ 85016 PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW COMMERCIAL 70,438 70,438 TOTAL $70,438 $70,438 The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest. The Assessor's determination of value after review is based on the following: CM01 - The Colorado Constitution requires commercial property to be valued based on actual value and assessed at 29%. Replacement cost, market, and income are approaches used to determine the actual value of your property. 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. Date of Notice: 6/27/2013 Telephone: (970) 353-3845 Fax: (970) 304-6433 Office Hours: 8:00 AM - 5:00 PM Please refer to the reverse side of this notice for additional information. DOWNEY & ASSOCIATES 383 INVERNESS PARKWAY SUITE 300 ENGLEWOOD, CO 80112 JUL 1 0 201=3 WELD COUNTY r,nr 15-DPT-AR PR 207-08/13 R2810886 17953 Aft 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 O 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) 866-588O 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 specific dollar amount is required for real property pursuant to § 39-8-106(1.5), C.R.S.) $ c4U ec4 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.) See Attached ATTESTATION I, the undersigned owner or agent4/ of the property identified above, affirm that the statements contained herein and onany,attachments ,ttereto are true and complete. Attorney for Petitioner Attorney Reg. # 9686 Email tom(nidownevlawpc.com Telephone Number 47 Attach letter of authorization signed by property owner. Dat X73 Address 15-DPT-AR PR 207-08/13 R2810886 17953 t -S EXHIBIT "A" ATTACHMENT TO COUNTY BOARD OF EQUALIZATION PETITION OF CSA19 RIVERWALK SQUARE LLC- ACCOUNT NOS. 112808386, R2810886, 82810986 1. The Assessor has failed to give appropriate consideration to all the requisite approaches to valuation in determining the value of the property. 2. The current year actual value assigned by the assessor does not reflect the actual value of the subject property during the 18 month period ending June 30, 2012. 3. Upon consideration of all the approaches to value, values given to comparable land and improvements and upon consideration of the requirements of Colorado law that require that assessments be uniform, just and equitable, a reduction in the current year actual value of this property is warranted. 4. The value of $5,657,985/$49.55sf assigned to the subject property for 2013 is excessive and should be reduced. Although Petitioner appreciates the reduction in value from the 2012 value, its analysis to date indicates that the 2013 value assigned should be reduced. Analysis of the 2011-2012 economic performance of the property indicates an unadjusted range of value of $4,554,680 to $5,961.699 with an average of $5,258,189. Because the subject was 36% vacant on the Assessment Date, a further adjustment is required because of the excess vacancy of the subject property. The excess vacancy adjustments indicate an adjusted range of value between $4,113,484 and $5,520,503 with an average of $4,816,993. 5. The subject was appraised twice prior to the Assessment date. The first appraisal in December, 2011 concluded to a value of $4,800,000. The second appraisal, which although dated October, 2012 utilizes data primarily from the relevant base period, concludes to a value of $4,600,000. 6. Petitioner respectfully requests that the value of the subject property be reduced to $4,750,000. 7. Pursuant to C.R.S. § 39-8-107(3), Petitioner requests that the Assessor supply all data supporting the Assessor's determination of actual value to the undersigned no later than two working days prior to the CBOE hearing. DOWNEY a ASSOCIATES, Pc A PROFESSIONAL CORPORATION July9, 2013 VIA CERTIFIED MAIL RETURN RECEIPT REQUESTED Weld County Board of Equalization 1150 O Street, P.O. Box 758 Greeley, CO 80631 303 813-1111 Re: Account Nos. R2808386; R2810886 and 112810986 — CSA 19 Riverwalk Square LLC, Greeley, CO Account No. R4577286 —1009 Broad St., Milliken, CO Account No. R7411598 — 650 Glen Creighton Dr., Dacono, CO Account No. R2291686 —1701 23`d Ave., Greeley, CO Account No. R3575305 — 385 Justine Ave., Platteville, CO Account No. R0276895 -100 Johnstown Ctr., Johnstown, CO Account No. R6295986 — SG TRUST — 726 Baseline Pl., Brighton, CO Dear Clerk to the Board: We represent the owners of the above referenced real property ("Subject Property") in Weld County. Enclosed are the Petitions to the Board of Equalization protesting the denials, or inadequate adjustments, by the Weld County Assessor. I will not be available for hearings on July 15, July 25 and August 5, 2013. Please direct the Notice of Hearing on this matter to the undersigned. Petitioner, pursuant to C.R.S.§ 39-8-107(3), respectfully requests that the Assessor provide all data supporting the assessor's determination of actual value on these parcels to the undersigned no later than two working days prior to the CBOE hearing. Thank you for your cooperation in this regard. Should you have questions, please call. TED/ss Enclosures Very truly yours, Thomas E. Downey, Jr 383 Inverness Parkway o Suite 300 Englewood, Colorado 80112 n fax 303 813-1122 www.downeylawpc.com www.coloradopropertytaxattorney.com 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 R2810986 2013 2689 GR 4832 L8 TO 26 BLK44 TOGETHER WITH VAC N- S ALLEY ADJ TO LOTS 12 THRU 23 & E -W VAC ALLEY ADJ TO LOTS 9 THRU 12 LOTS 17 & 18 & LOTS 23 THRU 26 822 7 ST GREELEY, CO PROPERTY OWNER CSA19 RIVERWALK SQUARE LLC 3030 E CAMELBACK RD PHOENIX, AZ 85016 PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW COMMERCIAL EXEMPT PROPERTIES 4,646,187 678,470 4,646,187 678,470 TOTAL $5,324,657 $5,324,657 The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest. The Assessor's determination of value after review is based on the following: CM01 - The Colorado Constitution requires commercial property to be valued based on actual value and assessed at 29%. Replacement cost, market, and income are approaches used to determine the actual value of your property. 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. Date of Notice: 6/27/2013 Telephone: (970) 353-3845 Fax: (970) 304-6433 Office Hours: 8:00 AM - 5:00 PM Please refer to the reverse side of this notice for additional information. DOWNEY & ASSOCIATES 383 INVERNESS PARKWAY SUITE 300 ENGLEWOOD, CO 80112 RECEIVED JUL 1 0 2013 {{�� WELD 1 COUNTY COMMJSSIr13\IrQg 15-DPT-AR PR 207-08/13 R2810986 17940 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 O 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.qov/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 specific dollar amount is required for real property pursuant to § 39-8-106(1.5), C.R.S.) $ dsa k4=keA 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.) See Attached ATTESTATION I, the undersigned owner or agent4a of the property identified above, affirm that the statements contained herein and on y attachmgft<ts hereto are true and complete. 7& 7 Attorney for Petitioner Attorney Reg. # 9686 Email tom(aldownevlawpc.com Telephone Number Date 48 Attach letter of authorization signed by property owner. Address 15-DPT-AR PR 207-08/13 R2810986 17940 EXHIBIT "A" ATTACHMENT TO COUNTY BOARD OF EQUALIZATION PETITION OF CSA19 RIYERWALK SQUARE LLC— ACCOUNT NOS. R2808386, 122810886, 122810986 1. The Assessor has failed to give appropriate consideration to all the requisite approaches to valuation in determining the value of the property. 2. The current year actual value assigned by the assessor does not reflect the actual value of the subject property during the 18 month period ending June 30, 2012. 3. Upon consideration of all the approaches to value, values given to comparable land and improvements and upon consideration of the requirements of Colorado law that require that assessments be uniform, just and equitable, a reduction in the current year actual value of this property is warranted. 4. The value of $5,657,985/$49.55sf assigned to the subject property for 2013 is excessive and should be reduced. Although Petitioner appreciates the reduction in value from the 2012 value, its analysis to date indicates that the 2013 value assigned should be reduced. Analysis of the 2011-2012 economic performance of the property indicates an unadjusted range of value of $4,554,680 to $5,961.699 with an average of $5,258,189. Because the subject was 36% vacant on the Assessment Date, a further adjustment is required because of the excess vacancy of the subject property. The excess vacancy adjustments indicate an adjusted range of value between $4,113,484 and $5,520,503 with an average of $4,816,993. 5. The subject was appraised twice prior to the Assessment date. The first appraisal in December, 2011 concluded to a value of $4,800,000. The second appraisal, which although dated October, 2012 utilizes data primarily from the relevant base period, concludes to a value of $4,600,000. 6. Petitioner respectfully requests that the value of the subject property be reduced to $4,750,000. 7. Pursuant to C.R.S. § 39-8-107(3), Petitioner requests that the Assessor supply all data supporting the Assessor's determination of actual value to the undersigned no later than two working days prior to the CBOE hearing. DOWNEY & ASSOCIATES, rc A PROFESSIONAL CORPORATION July 9, 2013 VIA CERTIFIED MAIL RETURN RECEIPT REQUESTED Weld County Board of Equalization 1150 O Street, P.O. Box 758 Greeley, CO 80631 303 813-1111 Re: Account Nos. R2808386; R2810886 and R2810986 — CSA 19 Riverwalk Square LLC, Greeley, CO Account No. R4577286 —1009 Broad St., Milliken, CO Account No. R7411598 — 650 Glen Creighton Dr., Dacono, CO Account No. R2291686 —1701 23"1 Ave., Greeley, CO Account No. R3575305 — 385 Justine Ave., Platteville, CO Account No. R0276895 —100 Johnstown Ctr., Johnstown, CO Account No. R6295986 — SG TRUST — 726 Baseline PL, Brighton, CO Dear Clerk to the Board: We represent the owners of the above referenced real property ("Subject Property") in Weld County. Enclosed are the Petitions to the Board of Equalization protesting the denials, or inadequate adjustments, by the Weld County Assessor. I will not be available for hearings on July 15, July 25 and August 5, 2013. Please direct the Notice of Hearing on this matter to the undersigned. Petitioner, pursuant to C.R.S.§ 39-8-107(3), respectfully requests that the Assessor provide all data supporting the assessor's determination of actual value on these parcels to the undersigned no later than two working days prior to the CBOE hearing. Thank you for your cooperation in this regard. Should you have questions, please call. Very truly yours, Thomas E. Downey, Jr TED/ss Enclosures 383 Inverness Parkway o Suite 300 c Englewood, Colorado 80112 a fax 303 813-1122 www.downeylawpc.com www.coloradopropertytaxattorney.com Hello