HomeMy WebLinkAbout20120938.tiff RESOLUTION
RE: APPROVE, IN PART, PETITION FOR ABATEMENT OR REFUND OF TAXES -
PRATT PROPERTIES, LLP
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, the Board of County Commissioners of Weld County, State of Colorado, at
a duly and lawfully called regular meeting held on the 9th day of April, 2012, at which meeting
there were present the following members: Chair Sean P. Conway, and Commissioners
Barbara Kirkmeyer, David E. Long, and Douglas Rademacher, with William F. Garcia being
excused, and
WHEREAS, notice of such meeting and an opportunity to be present has been given to
the taxpayer and the Assessor of said County, with said Assessor, Christopher Woodruff, being
present, and taxpayer, Pratt Properties, LLP, not being present, and
WHEREAS, the Board of County Commissioners has carefully considered the attached
petition, and is fully advised in relation thereto.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Board concurs with the recommendation of the Assessor, and
the petition marked Exhibit "A," a copy of which is attached hereto and incorporated herein by
reference, be and hereby is, approved, in part, and an abatement or refund be allowed as
follows:
CORRECTION
TO ASSESSED ABATEMENT TAX
VALUATION OR REFUND YEAR
$1,134,016.00 $55,182.11 2009
$1,134,016.00 $55,597.33 2010
a
ASR Per 2012-0938
5 vo-la AS0081
TAX ABATEMENT PETITION - PRATT PROPERTIES, LLP
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 9th day of April, A.D., 2012.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
Sean P. Conway, Chair
Weld County Clerk to the Board
EXCUSED
q9 was v` -T William F. Garcia, Pro,m
BY: 119'YLc p('Ui.;a� a ,�
Deputy C rk to the Boa Vw u x
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'r61 (/ �.�".:`4, . �:artaara Kirkmeyer
PP9AO
r.00c/� �`4. ? `. le avid E. Lon i
arc grorn y _ w „ Ike Ca_C3�
Dougla Rademach-r
Date of signature: 5 - 3 /
2012-0938
AS0081
PETITION FOR ABATEMENT OR REFUND OF TAXES/ l ��/,�L_ �JS
County: WELD Date Received 2O ` I — V `� 3
h "l , OF „r?uh(( e1 gr's geTsor Commissioners'Date Stamp)
WELD �c�ti I Petitioner, please complete Section I onlyTATE�OF COLORADOI 1A
C0MMISSLW(ERS1 1012 MAY —4 AM II: 4®
r1 qq 'Month Day Year
loll MAY I WetilTOhs�IS (a e: Pratt Properties LLP
RPetitioner's e Mailing Address: PO Box 1937
R E C FtV ) CO 80502
City or Town State Zip Code 1 'j ✓
I/
SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY
146731000031 R0145691 Weld County 60.1 Acres at Hwy 7&Bonanza
see Attached Legal Description
Petitioner requests an abatement or refund of the appropriate taxes and states that the taxes assessed against the
above property for property tax year(s) 2009 and 2010 are incorrect for the following reasons: (Briefly
describe why the taxes have been levied erroneously or illegally,whether due to erroneous valuation,irregularity in
levying,clerical error or overvaluation. Attach additional sheets if necessary.)
See Attached Letter
Petitioner's estimate of value: $1,180220 (2009 )and $1,180,220 (2010 )
Value Year Value Year
I declare,under penalty of perjury in the second degree,that this petition,together with any accompanying exhibits
or statements, has been prepared or examined by me,and to the best of my knowledge,information and belief,is
true,correct,and complete. '? `� '/
Daytime Phone Numberr(3D3 82 ') c T T rp z
Petitioner's Signature
By Daytime Phone Number( )
Agent's Signature*
*Letter of agency must be attached when petition is submitted by an agent.
If the Board of County Commissioners,pursuant to§39-10-114(1),C.R.S.,or the Property Tax Administrator,pursuant to*39-2-116,C.R.S.,
denies the petition for refund or abatement of taxes in whole or in part,the Petitioner may appeal to the Board of Assessment Appeals pursuant
to the provisions of*39-2-125,C.R.S.,within thirty days of the entry of any such decision,§39-10-114.5(1),C.R.S.
Section II: Assessor's Recommendation
(For Assessor's Use Only)
Tax Year 2009 Tax Year 2010
Actual Assessed Tax Actual Assessed Tax
1,831,870 144,853.29 6,316,800 1,831,870 145,943.25
Original 6,316,800
3,910,400 1,134,016 89,671.18 3,910,400 1,134,016 90,345.92
corrected
Abate/Refund 2,406,400 697,854 55,182.11 2,406,400 697,854 55,597.33
❑Assessor recommends approval as outlined above.
If the request for abatement is based upon the grounds of overvaluation,no abatement or refund of taxes shall be made if an objection or protest
to such valuation has been filed and a Notice of Determination has been mailed to the taxpayer,§39-10-114(1)(a)(I)(D),C.R.S.
Tax year: 2009 Protest? 0 No ❑Yes (If a protest was filed,please attach a copy of the NOD.)
Tax year: 2010 Protest? 0 No 0 Yes (If a protest was filed,please attach a copy of the NOD.)
1a
❑Assessor recommends denial for the following reason(s):
After further review of the property characteristics the details of the subject sale and additional sales in the area
an adjustment was deemed appropriate. •
lC _ C
Assessor's or eputy Assessors Si at a :.�ygryq
15-OPT-AR No.920-66/11
FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY
(Section III or Section IV must be completed)
Every petition for abatement or refund filed pursuant to §39-10-114,C.R.S.shall be acted upon pursuant to the provisions of this section by the
Board of County Commissioners or the Assessor,as appropriate,within six months of the date of filing such petition,§39-1-113(1.7),C.R.S.
Section III: Written Mutual Agreement of Assessor and Petitioner
(Only for abatements up to$10,000)
The Commissioners of County authorize the Assessor by Resolution No.
to review petitions for abatement or refund and to settle by written mutual agreement any such petition for
abatement or refund in an amount of$10,000 or less per tract, parcel,or lot of land or per schedule of personal
property, in accordance with§39-1-113(1.5), C.R.S.
The Assessor and Petitioner mutually agree to the values and tax abatement/refund of:
Tax Year Tax Year
Actual Assessed Tax Actual Assessed Tax
Original
Corrected
Abate/Refund
Note:The total tax amount does not include accrued interest,penalties,and fees associated with late and/o elinquent tax payments,if
applicable. Please contact the County Treasurer for full payment information.
Petitioner's Signature Date
Assessor's or Deputy Assessor's Signature Date
Section IV: Decision of the County mmissioners
(Must be completed if Section does not apply)
WHEREAS,the County Commissioners of County,State of Colorado,at a duly and lawfully
called regular meeting held on / / ,at ich meeting there were present the following members:
Month Day Year
with notice of such meeting and an opportuni to be present having been given to the Petitioner and the Assessor
of said County and Assessor (being present--not present)and
Name
Petitioner (being present--not present),and WHEREAS,the said
Name
County Commissioners have car ully considered the within petition,and are fully advised in relation thereto,
NOW BE IT RESOLVED,tha e Board(agrees--does not agree)with the recommendation of the Assessor
and the petition be(approv --approved in part—denied)with an abatement/refund as follows:
Year Asses d Value Taxes Abate/Refund Y
Assessed a e Taxes Abate efund CIO)in Chairperson of Board of County Signature
County Clerk and Ex-officio Clerk of the Board of County Commissioners
in and for he aforementioned county,do hereby certify that the above and foregoing order is truly copied from the
record the proceedings of the Board of County Commissioners.
IN W NESS WHEREOF, I have hereunto set my hand and affixed the seal of said County
thi day of
Month Year
County Clerk's or Deputy County Clerk's Signature
Note: Abatements greater than$10,000 per schedule,per year,must be submitted in duplicate to the Property Tax Administrator for review.
Section V: Action of the Property Tax Administrator
(For all abatements greater than$10,000)
Board of County Commissioners, relative to this abat,ement pe ion, is hereby
❑Approved in part$ r, ❑ D Id forth I wing re qn(s):
Secretary's Signature rty Tax Administrator's
15-DP -AR o.920-66/11
• PETITION FOR ABATEMENT OR REFUND OF TAXES
County: WELD Date Received GRt::://�
ete
(Use Assessors or Commissioners Date Stamp)
Section I: Petitioner,please complete Section I only.
WELD ettOtif 1 RECEIVED
MMlS y onth Day Year
t,�? Q c etl Ion ame: Pratt Properties LLP NOV1012 MAR etiAnr s Meiling Address: PO Box 1937 N 0 4 2011
Longmont i"n" CO 80502
�C E vrn City or Town State Zip Code •d°J C- Li f. UUN TY ASSESS(
i O EELEY, COLORADO
c OR PARCEL NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY
146731000031:' Weld County 60.1 Acres at Hwy 7&Bonanza
Q/V.5761/ See Attached Legal Description
Petitioner requests an abatement or refund of the appropriate taxes and states that the taxes assessed against the
above property for property tax year(s) 2009 and 2010 are incorrect for the following reasons: (Briefly
describe why the taxes have been levied erroneously or illegally,whether due to erroneous valuation,irregularity in
levying,clerical error or overvaluation. Attach additional sheets if necessary.)
See Attached Letter
Petitioner's estimate of value: $1,180,220 (2009 )and $1,180,220 (2010 )
Value Year Value Year
I declare,under penalty of pe0'ury in the second degree,that this petition,together with any accompanying exhibits
or statements,has been prepared or examined by me,and to the best of my knowledge,information and belief,is
true,correct,and complete.
Daytime Phone Number(303 ) 6824462
Petitioner's Signatur
By Daytime Phone Number J )
Agent's Signature'
'Letter of agency must be attached when petition is submitted by an agent.
If the Board of County Commissioners,pursuant to§39-10-114(1),C.R.S.,or the Property Tax Administrator,pursuant to§39-2-116,C.R.S.,
denies the petition for refund or abatement of taxes in whole or in part,the Petitioner may appeal to the Board of Assessment Appeals pursuant
to the provisions of§39-2-125,C.R.S.,within thirty days of the entry of any such decision,§39-10-114.5(1),C.R.S.
Section II: Assessor's Recommendation
(For Assessor's Use Only)
Tax Year
2009. Tax Year ZO/V
Actual Assessed Tax Actual Assessed Tax
Original G/3/ 1$40 ',Y3li no pity-a? i3/p;b"w I., r3i '9° /t'e,-f/.3 as
corrected 4a / Y3/. 70 /Wi vs--:, ?7 _t,3/458ev //f±;//
/f // (90
"s--.W.4, 2.3-
Abate/Refund 1 11 _ /
❑Assessor recommends approval as outlined above.
If the request for abatement is based upon the grounds of overvaluation,no abatement or refund of taxes shall be made if an objection or protest
to such valuation has been filed and a Notice of Determination has been mailed to the taxpayer,§39-10-114(1)(a)(I)(D),C.R.S.
Tax year Protest? ❑No ❑Yes (If a protest was filed,please attach a copy of the NOD.)
Tax year: Protest? O No ❑Yes (If a protest was filed,please attach a copy of the NOD.)
Assessor recommends denial for the followingreason(s): I
M4rhe74 Sq�CS s// ert ?5.5#s " c vv" t. 2012-0938
^.�-•is or D: uty Assessor's Si n ure ,-.(�
15-DPT-AR No.920-66/11 ,c✓V�
LEGAL DESCRIPTION
25005 S2SE4 31 1 68 EXC COMM S4 COR OF SEC THENCE NOD46'E 75'TO TRUE POB CONT NOD46'E
1245.57'TO NW COR OF S2SE4 S89D35'E 60'THENCE S12D19'E 1277'TO A PT ON N R/W LN OF STATE
HWY#7 THENCE N89D34'W 349.38'TO TRUE POB EXC BEG S4 COR SEC NOD46'E 1320.57'TO NW COR
525E4 S89D35'E 60'TO TRUE POB S89D35'E 186.46'S12D13'E 123.38' S16D31'E 1176.22'TO N LN HWY
#7 N89D34'W 274.53' N12D19'W 1277'TO BEG EXC 4.61AC. CONVEYED BY HWY DEED 2/15/89 BK 1224
REC#2170911 EXC UPRR RESERVATIONS ON SE4SE4 ALSO EXC BEG SE4 NOD57'W 125'TO POB
588D12'W 30' S43D27'W 70.99'S88D12'W 30.75' NO1D06'W 683.51' N02D34'E 566.43'S89D50'E 77.15'
SOD57'E 1195.77'TO POB
.,.: -.1
. ..ii
PRATT
MAKINGVi e REALITN
November 1, 2011
Weld County
Chris Woodruff-Assessor
1400 N. 17th Ave.
Greeley, CO 80631
Mr. Woodruff,
I hereby, formally, request your consideration for abatement on the 2009 & 2010 property taxes on
Parcel 146731000031.This property was sold to Colorado Investments GRP LLC in the spring of 2007 for
$6,534,000. The structure was 10%down and owner carry back for two years. The buyer made one
payment of Principal and Interest in the fall of 2007 and subsequently went into default forcing the carry
back seller to start foreclosure proceeding. The final judicial foreclosure process transferred ownership
back to Pratt Properties LLP and Karen K. Kramer in August 2011. The Colorado Investments Group
failed to pay any property taxes for 2007, 2008, 2009 and 2010. We respectfully request the valuations
for 2009 and 2010 be restated to values similar to the recent valuation received for 2011. The present
owners have redeemed taxes for 2007 and 2008.We respectfully request the valuations be reduced
since the reassessment for 2009 was based upon a contract that did not perform and is not
representative of a fair market value. Actual cash received on the contract was less than $680,000.
Respectfully sub ' ed,
Alan D. Linton
CFO for Pratt Properties LLP
PO BOX 1937 • LONGMONT, CO 80502 • P: 303.776.4496 • F: 303.776.4946 • WWW.PRATTPROP.O
Letter of Authorization for Property Tax Matters
I/We,the undersigned, as the owner of the property listed below located in Weld County, delegate the agent listed
below full authority to handle all matters relative to assessments and to represent me/us, with the assistance of legal
counsel if necessary, in the appeal process for tax year 2009 and 2010.
Alan D. Linton e://17-
Agent Name
All correspondence regarding my/our appeal of the value of the property listed below should be directed to:
146731000031
Owner Information:
Property Owner Name Pratt Property LLP & Karen K. Kramer
1 Please Print
Property Owner Signatur2� /�. !a—I �a�+
Date
Property Information(Please attach additional sheets as necessary)
1. Parcel#and/or Account#
Property Address
2. Parcel#and/or Account#
Property Address
3. Parcel#and/or Account#
Property Address
4. Parcel#and/or Account#
Property Address
5. Parcel#and/or Account#
Property Address
Price per
Property Sq. Foot
A 0.29
B 0.31
C 0.35
D 0.50
E 0.62
Average 0.41
60.1 acres @ .41 = $1,073,361.96
•
uttt-Pro SOLD
Multi-Property sale on 0912512008 of 2 Land parcels,for$1,701,000($0291AC)•-•Research Complete
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Summary of Property Info-at time of sale
Address City,State Type-Class' ? `Property SF' -'Built Sale Price
TBD County Road 6 Brighton,CO Land - $697,971 (Allocated)
It10025 County Road 2 Brighton,CO Land - - $1,003,029(Allocated)
Buyer&Seller Contact Info
Recorded Buyer: Alf Equinox Todd Creek Village,LLC Recorded Seller: Larry S.&Connie L.Rule
True Buyer: Equinox Land Group,Inc. True Seller: Larry S.&Connie L.Rule
9055 E Mineral Cir Larry Rule
Englewood,CO 80112 Connie Rule
(303)799-6000 600 County Road 21
Brighton,CO 80603
(303)659-2374
Buyer Type: Corporate
Buyer Broker: No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal
Transaction Details ID:1594113
Sale Date: 09/25/2008 Sale Type: Owner/User
Escrow Length: 730 days S RBA: -
Sale Price: $1,701,000-Confirmed . Z t Land Area: 132.82 AC(5,785,639 SF)
Asking Price: -
Price/SF: -
Pro Forma Cap Rate: - Percent Improved: -
Transfer Tax: $170.10 Total Value Assessed: $148,190 in 2008
Improved Value Assessed: -
Land Value Assessed: $148,190
Land Assessed/AC: $1,115
Legal Desc: Parcel Four:Part of the N E4 of sec 26,T1 N,R67W of the 6th P.M.
Parcel Five:Beginning at the SW corner of sec 35,T1 N,R67W of the 6th P.M.
Parcel Six: NW4 of sec 35,T1 N,R67W of the 6th P.M.
Parcel No: 146926100036,146935300027
Document No: 3580602
Financing: Down payment of$1,701,000.00(100.0%)
Cassidy/ This copyrighted report contains research licensed to Cassidy Turley Fuller Real Estate-18738 11/1/2011
Turley Estate Page 18
•
TBD County Road 6 SOLD
g Brighton,CO 80603-Weld County Submarket
Sale on 09/25/2008 for$844,100($13,718.51/AC)-Research Complete
Commercial Land of 61.53 AC(2,680,247 SF)
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Buyer&Seller Contact Info
Recorded Buyer: Alf Equinox Todd Creek Village,LLC Recorded Seller: Hugh J.&Lori L.Hawthorne
True Buyer: Equinox Land Group,Inc. True Seller: Hugh J.&Lori L.Hawthorne
9055 E Mineral Cir Hugh Hawthorne
Englewood,CO 80112 Lori Hawthorne
(303)799-6000 1771 Weld County Road 23
Brighton,CO 80603
(303)659-2007
Buyer Type: Corporate
Buyer Broker: No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal
Transaction Details ID:1594117
Sale Date: 09/25/2008 Sale Type: Owner/User
Escrow Length: 730 days Land Area: 61.53 AC(2,680,247 SF)
Sale Price: $844,100-Confirmed Proposed Use: Commercial,Retail,Office,MultiFamily,
Single Family Development
Price/AC Land Gross: $13,718.51 ($0.31/SF) /✓ • pie}
Zoning: A Percent Improved: -
Transfer Tax: $84.41 Total Value Assessed: $7,880 in 2008
Improved Value Assessed: -
Land Value Assessed: $29,950
Land Assessed/AC: $486
Street Frontage: 749 feet on County Road 6(with 0 curb cut)
1,842 feet on County Road 4.5 (with 0 curb cut)
Financing: Down payment of$844,100.00(100.0%)
Topography: Level
On-Site lmprov: Raw land
Improvements: None
Legal Desc: NE4 of sec 26,T1 N,R67W of the 6th P.M.
Parcel No: 146926100002
Document No: 3580601
Cassidy/noel' This copyrighted report contains research licensed to Cassidy Turley Fuller Real Estate-18738. 11/1/2011
TurleyReal Estate Page 26
•
1132 County Road 21 SOLD
8 Brighton,CO 80603-Weld County Submarket •.
Sale on 09/25/2008 for$1,197,300($15.155.70/AC)-Research Complete
Commercial Land of 79 AC(3,441,240 SF)
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Buyer&Seller Contact Info
Recorded Buyer: Alf Equinox Todd Creek Village,LLC Recorded Seller: Larry L.Rule
True Buyer: Equinox Land Group,Inc. True Seller: Larry L.Rule
9055 E Mineral Cir Larry Rule
Englewood,CO 80112 722 County Road 21
(303)799-6000 Brighton,CO 80603
(303)659-2374
Buyer Type: Corporate
Buyer Broker: No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal
Transaction Details ID:1594116
Sale Date: 09/2512008 Sale Type: Owner/User
Escrow Length: 730 days Land Area: 79 AC(3,441,240 SF)
Sale Price: $1,197,300-Confirmed Proposed Use: Commercial,Retail,Office,MultiFamily,
Single Family Development
Price/AC Land Gross: $15,155.70($0.35/SF)
f
Zoning: A,Weld County Percent Improved: -
Transfer Tax: $119.73 Total Value Assessed: $573,490 in 2008
Improved Value Assessed: -
Land Value Assessed: $573,490
Land Assessed/AC: $7,259
Street Frontage: 1,292 feet on County Road 21(with 1 curb cut)
Financing: Down payment of$1,197,300.00(100.0%)
Topography: Level
On-Site lmprov: Raw land
Improvements: 1,304 SF SFR
Legal Desc: S2 of the SW4 of sec 26,T1 N,R67W of the 6th P.M.
Parcel No: 146926000009
Document No: 3580599
Cassidy/Fuller This copyrgnted report contains research licensed to Cassidy Turley Fuller Real Estate-18738. 11/1/2011
Turley } state Page 23
6829 S Boulder Rd - LaGazza Vineyard SOLD
5 Boulder,CO 80303-Boulder County Submarket
Sale on 03/30/2007 for S1,560,000(521,666.67/AC)-Research Complete
Commercial Land of 72 AC(3,136,320 SF)-Sold for Land Value
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Buyer&Seller Contact Info
Recorded Buyer: Boulder Valley Partners Lac Recorded Seller: 6829 SBR,LLC
True Buyer: Boulder Valley Partners Lac True Seller: 6829 SBR,LLC
Robert Young Lawrence Abrams
7871 Lefthand Canyon 368 S Mccaslin Blvd
Jamestown,CO 80455 Louisville,CO 80027
(303)442-8798
Buyer Broker: No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal
Transaction Details ID: 1297635
Sale Date: 03130/2007 Sale Type: Investment
Escrow Length: - Land Area: 72 AC(3,136,320 SF)
Sale Price: $1,560,000-Confirmed Proposed Use: Hold for Investment,Winery
Price/AC Land Gross: $21,666.67($0.50/SF)
Zoning: Agricultural
Lot Dimensions: Irregular
Transfer Tax: $156
Financing: $2,750,000.00 from American Bank of Commerce
Topography: Level
On-Site Improv: Raw land
Legal Desc: W2 SE4 of Sec2,T1 S,R7OW
Parcel No: 1577020-00-030
Document No: 2850240
Sale History: Sold for$1,560,000 on 03/30/2007
Sold for$1,200,000 on 06/29/2006
Cassidy/ This copyrighted report contains research licensed to Cassidy Turley Fuller Real Estate-18738. 11/1/2011
Turley/Realstate Page 14
i
E:=160th Ave r:V Lan
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''homt . .CO 80602-North Denver Subrnerket
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Sale on O1r2a12007 for$2,175,000($27.187.50/AC)-R esrch. ..... ... :Comptet ..: :.....: ::. ..: . ::.::::.:. :.: •.. ..:.:...:.:,:..:..:.;;,:;,::::. ::.:.
Residential land of 80 AC 0,484.890 SF)
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Buyer&Seller Contact Info
Recorded Buyer: Cundall Farms,LLC Recorded Seller: Grace A Cundall Living Trust
True Buyer: Private Partnership True Seller: Grace A Cundall
6177 E 167th Ave
Brighton,CO 80602
(303)452-2176
Buyer Type: Individual
Buyer Broker: Cassidy Turley Fuller Real Estate Listing Broker: Cassidy Turley Fuller Real Estate
The Property Exchange The Property Exchange
Jerry Burnett Jerry Burnett
(307)631-9900 (307)631-9900
Transaction Details ID:1232915
Sale Date: 01/2912007 Sale Type: Investment OR Owner/User
Escrow Length: 450 days Land Area: 80 AC(3,484,800 SF)
Sale Price: $2,175,000-Confirmed Proposed Use: Single Family Development
Price/AC Land Gross: $27,187.50($0.62/SF) --l`""'"
Zoning: A-3
Lot Dimensions: Irregular
Sale Conditions: Assemblage
Transfer Tax: $217.50
Financing: $8,585,000.00 from New Frontier Bank
Topography: Level
On-Site Improv: Raw land
Off-Site Improv: Curb/Gutter/Sidewalk,Electricity,Gas,Sewer,Streets,Water
Legal Desc: S2 of NW4 od Sec12 T1S R68W
Parcel No: 1573-12-2-00.002
Document No: 0010965
Cassidy This copyrighted report contains research licensed to Cassidy Turley Fuller Real Estate-18738. 11/112011
Fuller
Turley Real Estate Page 11
Summary of Abatement
Account # R0145691 Parcel # 1467-31-0-00-031
The abatement is for 2009 and 2010. The base period for these years is 1/1/2007 to
6/30/2008. For commercial valuation, sales up to five years prior to 6/30/2008 can be
analyzed.
The subject property is a 60.16 acre vacant lot located on Weld County Road 2 and
Weld County Road 3. Weld County Road 2 is also known as Hwy 7 and Arapahoe Rd.
WCR 7 is a major arterial road that intersects Weld County, Broomfield County and
Boulder County. The road also links the Cities of Erie, Broomfield, Layette, and Boulder.
The subjects proposed use was to be Safeway shopping center, mixed retail, and multi-
unit residential. The subject property sold 3/16/2007 for $6,534,000 or $2.49 per square
foot. For the years 2009 and 2010 the Assessor's Office has valued the subject
property at $6,316,800 or $2.41 per square foot.
The following four comparables support the assessor's value;
Comp 1 146731000031 60.16 ac. 3/15/07 $6,534,000 $2.49 psf the subject
property
Comp 2 131501400015 73.22 ac. 10/1/07 $6,547,200 $2.05 psf Hwy119 and
CR1 Boulder County
Comp 3 131307202001 24.18 ac. 12/14/07 $3,907,000 $3.71 psf Hwy 119 and
CR1
Comp 4 131311206002 77.47 ac. 7/31/06 $9,656,300 $2.86 psf Hwy 119 and
Jake Jabs Blvd
Comp1 Rec#3462398 KRAMER KAREN K (1/4 INT) & COLORADO INVESTMENT GRP
Comp2 Rec#2884804 bldr Ludlow Gregory T& FHC INVESTORS LLC
Comp3 Rec#3524857 M S STRONG LLC SANDSTONE MARKET LLC
Comp4 Rec#3408229 AMERICAN FURNITURE THE FIRESTONE DEVELOPMENT
WAREHOUSE CO LLC
The petitioner provided five land sales for comparison. The Assessor's Office has
analyzed these sale and has the following comments;
Comp A, B, & C are ag land, southwest of Wattenburg, Co., with no access or visibility
as compared to the subject
Comp D is ag land to be used as a wine vineyard in Boulder County
Comp E was made into a housing subdivision in Adams County
CLERK TO THE BOARD
PHONE: (970) 336-7215, EXT. 4226
1 8 6 I - 2 0 1 1 FAX: (970) 352-0242
1150 O STREET
P.O. BOX 758
GREELEY, COLORADO 80632
WELD_COUNTY
March 20, 2012
ATTN: ALAN LINTON
PRATT PROPERTIES LLP
PO BOX 1937
LONGMONT CO 80502
RE: SCHEDULE NUMBER R0145691 CORRECTION: MTG DATE
Dear Property Owner:
This is to advise you that the Weld County Board of Commissioners will hear your petition for
abatement or refund of taxes on the property described as: Weld County 60.1 Acres at Hwy 7 &
Bonanza. The meeting has been re-scheduled for April 9, 2012, at 9:00 a.m., in the
Chambers of the Board of County Commissioners of Weld County, Colorado, Weld County
Administration Building, 1150 O Street, Assembly Room, Greeley, Colorado 80631.
The Assessor is recommending that the Board deny your petition. You are not required to be
present at this hearing; however, this is your opportunity to have your position heard, especially
if your position is opposed to the Assessor's recommendation. If you intend to submit any
documentation in support of your position for this hearing, all such documentation must be
submitted to the Office of the Clerk to the Board and to the Weld County Assessor's Office at
least seven calendar days prior to the meeting date in order for it to be considered at the
scheduled hearing.
If you have any questions concerning this matter, please do not hesitate to contact me at
(970) 336-7215, Extension 4226.
Sincerely,
i
Tonya Disney
Deputy Clerk to the Board
cc: Assessor
CLERK TO THE BOARD
PHONE: (970) 336-7215, EXT. 4226
FAX: (970) 352-0242
I 8 6 1 - 2 0 1 I 1150 O STREET
P.O. BOX 758
GREELEY, COLORADO 80632
WELD_ COUNTY
March 14, 2012
ATTN: ALAN LINTON
PRATT PROPERTIES LLP
PO BOX 1937
LONGMONT CO 80502
RE: SCHEDULE NUMBER R0145691
Dear Property Owner:
This is to advise you that the Weld County Board of Commissioners will hear your petition for
abatement or refund of taxes on the property described as: Weld County 60.1 Acres at Hwy 7 &
Bonanza. The meeting is scheduled for April 2, 2012, at 9:00 a.m., in the Chambers of the
Board of County Commissioners of Weld County, Colorado, Weld County Administration
Building, 1150 O Street, Assembly Room, Greeley, Colorado 80631.
The Assessor is recommending that the Board deny your petition. You are not required to be
present at this hearing; however, this is your opportunity to have your position heard, especially
if your position is opposed to the Assessor's recommendation. If you intend to submit any
documentation in support of your position for this hearing, all such documentation must be
submitted to the Office of the Clerk to the Board and to the Weld County Assessor's Office at
least seven calendar days prior to the meeting date in order for it to be considered at the
scheduled hearing.
If you have any questions concerning this matter, please do not hesitate to contact me at
(970) 336-7215, Extension 4226.
Sincerely,
Tonya Disney
Deputy Clerk to the Board
cc: Assessor
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