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Home My WebLink About20110951.tiff RESOLUTION RE: ACTION OF THE BOARD CONCERNING PETITION FOR ABATEMENT OR REFUND OF TAXES -STARTEK, INC. (R6777530) 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 18th day of April, 2011, at which meeting there were present the following members: Chair Barbara Kirkmeyer, and Commissioners Sean P. Conway, William F. Garcia, David E. Long, and Douglas Rademacher, 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 Startek, Inc., not being present, and WHEREAS, the Board of County Commissioners has carefully considered the attached petitions, 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 be and hereby is, denied, and an abatement or refund not be allowed as follows: CORRECTION TO ASSESSED ABATEMENT TAX VALUATION OR REFUND YEAR $0.00 $0.00 2008 $0.00 $0.00 2009 $0.00 $0.00 2010 �9, 2011-0951 h A'\i AS0078 TAX ABATEMENT PETITION - STARTEK, INC. (R6777530) PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 18th day of April, A.D., 2011. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ATTEST: .�� / �� - ' 2/!L :arbara Kirkmey=r, Chair Weld County Clerk to th_ ��•: �1�' ��5 ° - 1 , - 1 Sean P. Pro-Tem BY: Deputy Clerk to the ::r•� �� .am F. cia AAA FO � . David E. Long_ uric At orney l L__2 et(." j ougla Rademach Date of signature: 2011-0951 AS0078 PETITION FOR ABATEMENT OR REFUND OF TAXES 'O Off County:weld Date Rece(ved•, C9O ` (ilse Assesmr'sw'Commissioners Date Stamp) RECEIVED Section I: Petitioner,please complete Section I only. i,.s 1 2 1 ' Date: ,2/23/10 DEC 2 7 2010 Month Day Year - Petitioner's Name:Startek,Inc `sr Re.,oE• mV WELD COUNTY ASSESSOR Petitioner's Mailing Address:44 Cook St,4th Fir GREELEY, COLORADO Denver,CO 60206 City or Town State Zip Code SCHEDULE OR PARCEL.NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY R6777530 1'(p%,q% 1250 H Street Petitioner states that the taxes assessed against the above property for property tax year(s) 200€ and are incorrect for the following reasons: (Briefly describe the circumstances surrounding the incorrect value or tax. Attach additional sheets if necessary.) Assessor's value does not reflect market value. Petitioner's estimate of value: $ N/A ( N/A )and $1000000 ( 2008 ) Value Year Value Year Petitioner requests an abatement or refund of the appropriate taxes. 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 Number( etitioners Sign By ^ Daytime Phone Number(�d3) 17 0 - z /ZO Agent' Signature' 'Letter of agency must be attached when petition is submitted by an agent. If the board of county commissioners,pursuant to section 39-10-114(1),or the property tax administrator, pursuant to section 39-2-116,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 section 39-2-125 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,Z '5 Tax Year Actual Assessed /Tax �( Actual Assessed Tax Original // f)-1-)f. -D' . 67/ k-C V(/7V7.gV7 Corrected /,VK, 971- 5-C7 .7J1C' //J//•/7 Abate/Refund Ey 0 Assessor recommends approval as outlined above. No protest was filed for the year(s): or (If a protest was filed,please attach a copy of the NOD.) la Assessor recommends denial for the y following reason(s): / l't1w c LSL .w�L (Iv v ss�� AAssessor's or e ury Assessor's r azure 15-DPT-AR No.920-66/06 - FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY (Section III or Section IV must be completed) Every petition for abatement or refund filed pursuant to section 39-10-114 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$1,000) 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 or abatement or refund in an amount of one thousand dollars 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/or delinquent tax payments,if applicable. Please contact the county treasurer for full payment information. Petitioner's Signature Date Assessors or Deputy Assessor's Signature Date Section IV: Decision of the County Commissioners (Must be completed If Section III does not apply) WHEREAS,The County Commissioners of County,State of Colorado,at a duly and lawfully called regular meeting held on / / ,at which meeting there were present the following members: Month Day Year with notice of such meeting and an opportunity to be present having been given to the taxpayer 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 carefully considered the within petition,and are fully advised in relation thereto, NOW BE IT RESOLVED,That the Board(agrees--does not agree)with the recommendation of the assessor and the petition be(approved--approved in part--denied)with an abatement/refund as follows: Year Assessed Value Taxes Abate/Refund Year Assessed Value Taxes Abate/Refund Chairperson of the Board of County Commissioners'Signature County Clerk and Ex-officio Clerk of the Board of County Commissioners in and for the aforementioned county,do hereby certify that the above and foregoing order is truly copied from the record of the proceedings of the Board of County Commissioners. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County this day of Month Year County Clerk's or Deputy County Clerk's Signature Nate: Abatements greater than$1,000 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$1,0001 The action of the Board of County Commissioners,relative to the within petition,is hereby ❑Approved ❑Approved in part$ ❑Denied for the following reason(s): Secretary's Signature Property Tax Administrator's Signature Date 15-DPT-AR No.920-66/06 • APPOINTMENT OF AGENT teia[ e - I91,2©)0 DATE TO WHOM IT MAY CONCERN: AGENT: Consultus Asset Valuation, Inc. 68 Inverness Lane East#205 Englewood,CO 80112 Fax: (303)770-2430 Phone: (303)770-2420 Consultus Asset Valuation, Inc. is authorized to represent StarTek, Inc., et al in property tax valuation matters for the years 2008 through 2014. Please contact Consultus regarding all property tax issues. The properties are indicated below: COUNTY PROPERTY SCHEDULE NO. ADDRESS sa iA ),CO Greeley North '(Z,•L1,77 -moo _ l2 5� 4 5-C °l WE"LOCO Greeleywesi 2 a: T1 t - x4N pilarlE RJ ©oz Crc'a2CGt cnn-ar'o Cary Kingston l G3\l G�tO Cl}o6+38oi, lcm l_s l�.Sg, t NnijwY Laremie -, Cp,r Lyoka,OK Enid�Ol�- - ZB3i7 oo OZ3 oZo—a>-'1.t - llb C+ LId�� vievir,) Collinsville vP ZDGy Z Cl'>O� _ �sOCC(�v7tg:*�i¢.-t' Y Mesa,CO ' Grand`June6on R-bb4!Sp6 4, Y—ObSBoZ Van i frn6 -v±St- Oq - tafa3922 Employer ID#or Social Security Number 1I, kRkrr Q Ic to�tut \ I D(Signature) D to Printed Name �1/4-00)R-0)R- -A . /' `�n l� Urfi"1 Title Ulf.L Ptpslder-t -t Cb R3ra4e I : Company Name -'1"1.41t1-0.-\<, r' I ' Phone No. 2Doiqp— -t6 aolo Subscribed and sworn before me this I cf day of Ocnbbee , 200_. My commission expires 4'13%5 IaOI I /` ;'` OR` ;; Q U Notary Pu Jic STAR-owned -. ; , '�. 6, , ` Y t ue fig' e]T` Q y' C2O CO`'.-O , ^,rrrcesu::o,,. illt,. , LLJ O c 0 NN I- �et, 0, ��//�� N N_ V/ /A WT O CD COO CO VJ J• zr O ' O v 1 M a�LL (c, n C--. .- m CO to U a m u. O n N u - R1 r a• 0 0 � .. NON 2 > gy • N C [] co _V)W - n 0 V NI f, ? O tD MICO - `° a '' V O -- a- oCO M , _c N u N //_J1 0 c x ? V J V v m Zl'"" � aL7 I----t; W J : o � �: _ N N� V s • Iki40J 03/15/2011 Attn: Chris Woodruff RE: 2008 Abatement received 01/03/11 Startek, Inc. (east location) 1250 H Street Greeley, CO 2008 Assessors Value$1,921,920 SUBJECT: The subject property is a commercial Office property located in east Greeley south of O Street and west of 11th Avenue near Business Highway 85. The subject was built in 1998 and is considered to be in below average condition for its age and use due to the minimal office finish and partitioning as the subject is used as a call center. The building is owner occupied by Startek, Inc. Consultus Asset Valuation, Inc. is representing the petitioner and has requested a reduction in value from $1,921,920 to $1,000,000 for tax year 2008. Cost Approach: The subject is valued based on its actual age at$2,807,990. Market Approach: The subject is valued at$55/sf for the 2008 assessment period. Sales of similar Office occupancies revealed a range of sales from $57.17 - $110.81/sf. Due to the office portion of the subject having minimal partitioning for its call center, a market value of$55/sf was selected. This yielded a market value of$1,921,920. Income Approach: After multiple requests, the owner/petitioner did not respond to requests for their actual income. Typical lease rates during the assessment period for Office occupancy ranged from $8-$12/sf. The subject was valued at$8/sf. Typical expenses of 8%were given and the resulting value was capitalized at 9%, producing an Income Approach value of$2,329,600. Summary: Each of the approaches above support the value of the Assessor's Office, therefore, I would recommend a denial of the petitioner's request for abatement. Weld Count CHRISTOPHER WOODRUFF COUNTY ASSESSOI BRENDA DONES, DEPUTY ASSESSO VALUATION REPORT OF COMMERCIAL PROPERTY FOR County Board of Equalization STARTEK, INC. PETITIONER VS. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 080331111004 Schedule Number: R6777530 Log Number: Date: Time: Board: PREPARED BY NOEL LAWRENCE 03/15/2011 Signature Date ASSESSOR'S OFFICE STAFF APPRAISER ASSESSOR'S VALUE Improvements $1,660,887 Land $261,033 Total: $1,921,920 CBOE_COMM_010 Pag SALIENT FACTS AND CONCLUSIONS Purpose of Appraisal To determine Market Value as of 1/1/07 based on an appraisal date of 6/30/06. Property Rights Appraised Unencumbered fee simple interest. Location 1250 H Street Greeley Land Area 7.99 Acres / 348,044 SF Property Type Commercial Office Building Year Built 1998 Year Remodeled n/a Quality Low (minimal partition and finish for typical office) Class Masonry Number of Stories 1 Improvement Sq. Ft. 34,944 Value Indications: Cost Approach n/a Market Approach $ 1,921,920 Income Approach $ 2,550,900 Assessor's Value $1 ,921 ,920 CBOE_COMM_01 0 Peg LAND VALUE Sales utilized to establish the value in the subject neighborhood are from 2005 and the first six months of 2006 for the 2008 assessment date. The comparative sales approach is the most reliable method of land valuation. Pursuant to 39-104-00.2) (c) C. R. S., the Assessor may utilize sales fron July 2001 through June of 2006 to establish the proper value, if sufficient information is not available in the prior 18 months. Also, comparables outside the subject property area may be used. The Wel County Assessor has an established ongoing sales confirmation and validation program for property transactions used in developing value. The land size of the subject is 348,044 (rounded) square feet. Comparable commercial land in the subject area is valued at $.75 per square foot. Parcel Number Sale Date Sale Price Land Size Per Sq Ft Comparable 1 080319100052 09/05/03 $225,000 329,749 .68 Comparable 2 080328400001 04/04/06 $200,000 252,953 .79 Comparable 3 096117113002 03/17/06 $316,000 103,534 2.47 Comparable 4 096130129001 06/30/05 $238,000 113,517 2.10 ASSESSOR'S SUBJECT LAND VALUE $261,033 CBOE_COMM_010f Peg' A - e --.1.'—:.b.. ;i"44ty 4ir•.i• .i .X as , o yy y, f t''' 2:."-"' —'— , ,9p) ,• %is�..5;sF`**3' q N Jx ` , , 20. 2000 CBOE_COMM_O1C Paq Page 1 of 1 k(lus, s • • 4 • k k firt A + • _ Ia ' , M1 .k 1, Vx lK cal i( ♦ :1 i i t , ti • - 5 " SUBJECT: gf �' ', a , Stanek(east) .. .v,,.__._..- 7250 H Street . - '� rt `r, I- r.2,, __.� 1, lit � Gp..� .., j rte.. .. -, °, +� €`St , d Mss , �44 } �, % k - • -.�. >" r� ai .. 1 rr ` ' � a »: �„ dr i.C.-. f K � L } PI cal ; E .4:AT � + �� y � � `' d try. • t:-,.•.-"•---.-.:,,••••.;,- . -L.._ T AH },r rte+ f. s...-s T_ Fw.{it i i - { � >M� g�,��+�},o�.��-w. .._._- x r �+��--yyy1�yy,�� dS �im < x r+�.»k 44 u H k �o ['i-a t i› it F sr , {'. ,,.;w-tPo„"�. T' i tj;i 1r',Pa. .t.Cds: F�'71�..Fn$e'4 k- ,‘-!t?ksy r'r sr cal''tr s k.. ,�' t. 4-.. , ...t.„„ - -!W t'n1G' 1 (1. Map cshter:40, 28 28�N. •42'14:W� http://geoware2:8080/imf-sdg2/imfMainMap.j sp?cmd=zoom&x 1=3221592.4676980506&... 3/15/2011 COMPARATIVE SALES SUMMARY Real Property for the tax year 2008 must be valued utilizing data for the period one and one-half years immediately prior to July 1, 2006. If comparable valuation data is not available from such one and one-half year period to adequately determine the level of value for a class of property, pursuant 39-1-104 (10.2)(c) C.R.S, the Assessor may utilize sales five years prior to July 1, 2006 to establish the proper value. The Assessor has appropriately considered the Market Approach to value for the property on appeal The Sales Comparison Approach was considered in developing a market value for the Subject. Sale used to establish a market value for the tax year 2008 are from January 1, 2005 through June 30, 2006. All sales have been confirmed and verified through transfer declarations as well as interviews with buyers, sellers or their representatives to the sale. All sales used are arm's length transactions, and considered to be the most comparable properties sold in relationship to the Subject property. Based upon investigation and analysis, it is the opinion of the appraisers that the value of $55.00 accurately reflects the market value of the subject property. VALUE AS INDICATED BY THE MARKET APPROACH $1,921,920 CBOE_COMM_0IC Pa€ COMPARATIVE SALES APPROACH SALE # Subject 1 2 3 Comments Parcel # 080331100057 095912334009 095910228006 080331000038/4 Address 1250 H Street 1610 29`h Av PI 5754 W 11th St 1450 N 12th Ave Grantor Conquest Dona Invest. Sykes Realty Grantee No. Col. Medical MLS Prop. SE Investments Sale Date 08/18/2005 01/28/2004 04/01/2005 Assessor's Value Sale Price 1,921,920 750,000 3,500,000 2,400,000 Land Size 348,044 22,587 180,180 514,444 L/B Ratio 9.96 2.78 5.7 12.25 Bldg SF 34,944 8,120 31,583 41,978 Eff. age 1998 1978 1998 1994 Use Office Office Office Office Assessor's Value Sale PSF $55.00 $92.36 $110.81 $57.17 Comps Range: $57.17-110.81 Comps Avg: $86.78 Comps Median: $92.36 Value per Market Sales $55 x 34,944 sq ft = $1,921,920 Due to the subjects minimal office partitioning the value / sf was placed at the low end of the range. CDOE_COMM_010 Pag nA,99AF ee£8e8' I o ' L Miq 0[M Office NM...+t?d yF FrolFloor 419n 99 SF i1Ae' ""'' 11/10/2009 ^ " no COMPARABLE SALE COUNTY: WELD ACCOUNT NUMBER: R0355194 PARCEL NUMBER: 080331000038 PRIMARY OCC: Office Building PERCENT: 100.0%a SECONDARY OCC: PERCENT: THIRD OCC: PERCENT: ADDRESS: 1450 N 12 AV GREELEY RECEPT NUMBER: 3273746 SALE DATE: 4/1/2005 GRANTOR: SYKES REALTY INC SALE PRICE: $2,400,000 GRANTEE: S&E INVESTMENTS LLC ADJ SALE PRICE: $2,400,000 YEAR BUILT: 1994 CLASS: C EFFECTIVE AGE: LAND/BLDG RATIO: 6.4533 LAND SIZE(SF): 270,900 LAND VALUE: $203,207 BLDG SIZE (SF): 41,978 IMPS PRICE/SF: $52.33 WALL HEIGHT: 15 SALE PRICE/SF: $57.17 STORIES: 1.00 INTEREST RATE: BSMNT SIZE: DOWN PYMT: $0 BSMNT FINISH: LOAN TERM (YRS): ZONING: GRE PUD POINTS PAID: QUALITY: Average COMMENTS: CONFIRMED WITH MASOUD SHIRAZI. .ov — 'miff ?IF tma mcr �xTy 1, -• d: 599057 a ° 7, iB + tom ' iti i �t'+ drmr�e w.r olr�v �a .e�ea lve 6..4t w.. ra. B 9 \,. Rol Flam5ul.5 SF Office SemnE Floog3l5D 5i O Becomi Floor 336.06F COMPARABLE SALE COUNTY: WELD ACCOUNT R0270793 PARCEL NUMBER: 095912334009 PRIMARY OCC: Office Building PERCENT: 100% SECONDARY OCC: PERCENT: THIRD OCC: PERCENT: ADDRESS: 1610 29 AVPL GREELEY RECEPT NUMBER: 3314583 SALE DATE: 8/18/2005 GRANTOR: CONQUEST HOLDINGS SALE PRICE: $750,000 GRANTEE: NORTH COLORADO MEDICAL ADJ SALE PRICE: YEAR BUILT: 1978 CLASS: C EFFECTIVE AGE: LAND/BLDG RATIO: 2.78 LAND SIZE(SF): 22,587 LAND VALUE: $56,468 BLDG SIZE(SF): 8,120 IMPS PRICE/SF: $85.41 WALL HEIGHT: 11 SALE PRICE/SF: $92.36 STORIES: 2 INTEREST RATE: BSMNT SIZE: 800 DOWN PYMT: BSMNT FINISH: LOAN TERM (YRS): ZONING: POINTS PAID: QUALITY: Average COMMENTS: FIRST FLOOR OFFICE 4,523 SF,GARAGE 598 SF, SECOND FLOOR OFFICE 2,999 SF, BASEMENT STORAGE 800 SF,BUILDING HAS ELEVATOR, =p rwa m ` x „ N ay — IF S. Fys l' 1₹ Office �� F rst Floor 15)91 5 S F Second Floor 15]91 5 5 F N ry Total 315335 F. Built 1995 Y:r . 1_. COMPARABLE SALE COUNTY: WELD ACCOUNT R7512499 PARCEL NUMBER: 095910228006 PRIMARY OCC: Office Building PERCENT: 100% SECONDARY OCC: PERCENT: THIRD OCC: PERCENT: ADDRESS: 5754 W 11 ST GREELEY RECEPT NUMBER: 3149483 SALE DATE: 1/28/2004 GRANTOR: DONA INVESTMENTS LLC SALE PRICE: $3,500,000 GRANTEE: MLS PROPERTIES LLC ADJ SALE PRICE: YEAR BUILT: 1998 CLASS: S EFFECTIVE AGE: LAND/BLDG RATIO: 5.70 LAND SIZE(SF): 180,180 LAND VALUE: $539,909 BLDG SIZE (SF): 31,583 IMPS PRICE/SF: $93.72 WALL HEIGHT: 14 SALE PRICE/SF: $110.81 STORIES: 2 INTEREST RATE: BSMNT SIZE: DOWN PYMT: BSMNT FINISH: LOAN TERM (YRS): ZONING: GRE CH POINTS PAID: QUALITY: Average COMMENTS: BUILDING KNOWN AS PEAKVIEW POINTE Income Approach Startek East- 1250 H Street 2008 Tax Year Potential Net Income 314496 34,944 sf x$9 total income 314496 Less total expenses (8%) 25160 less vacancy (19%) 59754 NOI 229582 Divided by cap rate Rounded 0.09 $2,550,911.11 Total Value $2,550,900.00 Square footage 34,944 $73.00 Value/SF CONCLUSION Real property for tax year 2008 must be valued utilizing the level of value for the period of one and one-half years immediately prior to July 1,2006. Except that, if comparable valuation data is not available from such one-and one-half-year period to adequately determine the level of value of a cla: of property, the period of five years immediately prior to July 1, 2006 shall be utilized to determine th' level of value. 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 following level of value implemented, other than additions, change in use, detrimental acts of nature, damage due to fire, eti or creation of a condominium, or any new regulations restricting or increasing the use of the land, or combination thereof. {39-1-104(11)(b)(1) C. R .S.} 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 consider( all three approaches to value for the subject parcel on appeal. FINAL RECONCILIATION After consideration of the cost, market and income approaches, it is the Weld County Assessor's opinion that the value of $1,921,920 most accurately reflects the value of the subject property in We County for the 2008 tax year. COST APPROACH MARKET APPROACH INCOME APPROACH $2,796,304 $1,921,920 $2,550,900 ASSESSOR'S VALUE Improvements & Land $1,921,920 Total: $1,921,920 C BO E_COMM_01 Pi 4 . . PETITION FOR ABATEMENT OR REFUND OF TAX 00/ County:Weld ' Efate Re*eived-.- // (Use AssessorEorCOR fils$ioners'Date Stamp) Section I: Petitioner,please complete Section I only. I 2 I P i; Date: 1/3/11 ■(Y'- 'V/(C-!■■rep° Month Day Year - Petitioner's Name:Stanek,Inc STAR-WE-001 JAN 0 3 2011 Petitioners Mailing Address:44 Cook St,4th Fir Denver,CO 80206 WELD COUNTY ASbtSSUK Cityor Town State Zip Code GREELEY, COLORADO SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY R6777530 1250 H Street Petitioner 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 the circumstances surrounding the incorrect value or tax. Attach additional sheets if necessary.) Assessor's value does not reflect market value. Petitioner's estimate of value: $ 1,000,000 (2009 )and $1,000,000 ( 2010 ) Value Year Value Year Petitioner requests an abatement or refund of the appropriate taxes. 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 Number( Petitioners S' nature By Daytime Phone Number( 3d-S) `970- 'Lr-j Z?9 A ent's Signature• `Letter of agency must be attached when petition is submitted by an agent. If the board of county commissioners,pursuant to section 39-10-114(1),or the property tax administrator, pursuant to section 39-2-116,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 section 39-2-125 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�0C1 Tax Year Actual Assessed Tax Actual Assessed Tax Original I19 I/ ?2C 557 3G;r% 91/Y5-6 73 / 9J/ 9,1c 5-37, 3 .c' xa.2L0. 7( corrected 1,921/ /20 5-5-7 364' 771./7 �fi� /2c �S73&' /•,166`:77 Abate/Refund ❑Assessor recommends approval as outlined above. ,—,/Np protest was filed for the year(s): or (If a protest was filed,please attach a copy of the NOD.) I Assessor recommends 7171)7"-- d�ie�nial for the following reason(s): )7"-- cZts t Wrstt. o) 21,o& Assessors Br Deputy Assessors sign e 15-DPT-AR No.920-66/06 4 FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY (Section III or Section IV must be completed) Every petition for abatement or refund filed pursuant to section 39-10-114 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$1,000) 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 one thousand dollars 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/or delinquent tax payments,if applicable. Please contact the county treasurer for full payment information. Petitioner's Signature Date Assessors or Deputy Assessor's Signature Date Section IV: Decision of the County Commissioners (Must be completed if Section Ill does not apply) WHEREAS,The County Commissioners of County,State of Colorado,at a duly and lawfully called regular meeting held on / / ,at which meeting there were present the following members: Month Day Year with notice of such meeting and an opportunity to be present having been given to the taxpayer 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 carefully considered the within petition,and are fully advised in relation thereto, NOW BE IT RESOLVED,That the Board(agrees--does not agree)with the recommendation of the assessor and the petition be(approved--approved in part--denied)with an abatement/refund as follows: Year Assessed Value Taxes Abate/Refund Year Assessed Value Taxes Abate/Refund Chairperson of the Board of County Commissioners'Signature I, County Clerk and Ex-officio Clerk of the Board of County Commissioners in and for the aforementioned county,do hereby certify that the above and foregoing order is truly copied from the record of the proceedings of the Board of County Commissioners. IN WITNESS WHEREOF,I have hereunto set my hand and affixed the seal of said County this day of Month Year County Clerk's or Deputy County Clerk's Signature Note: Abatements greater than$1,000 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$1,000) The action of the Board of County Commissioners,relative to the within petition,is hereby ❑Approved ❑Approved in part$ ❑Denied for the following reason(s): Secretary's Signature Property Tax Administrator's Signature Date 15-OPT-AR No.920-66/06 APPOINTMENT OF AGENT Ceiobe.r' 1O1 w10 DATE TO WHOM IT MAY CONCERN: AGENT: Consultus Asset Valuation, Inc. 68 Inverness Lane East#205 Englewood, CO 80112 Fax: (303)770-2430 Phone: (303)770-2420 Consultus Asset Valuation, Inc. is authorized to represent StarTek, Inc., et al in property tax valuation matters for the years 2008 through 2014. Please contact Consultus regarding all property tax issues. The properties are indicated below: COUNTY PROPERTY SCHEDULE NO. ADDRESS Ls),CO GreeleyNorth :"(Z b'�' s30- [i5o• 'Sj- PCt w wco Greeley West ":'.2�og3?_ �u - 2�t,K '�ila�7G �v" :':cot crerzte-'C.c-cn"��-�"�fla fcngston1 y'3\l G4D p}b C�OS6li Lam fit J ... `t6ntiwy Laramie - _ o -'�iOri Z a-4-:Q ,OK t'(e ArH Coll,nsinlle dP `ZOit� Z�`f=OOr� v l- r•,�-n�.'-.AVM Mesa,CO "Grand;luncnfiobtAct DIY-4040b$80Z '141 '.1fuE U^t 6��orJ7"—^$°E - 10&3922 Employer ID#or Social Security Number m IItu l01 l4 I l (Signature) dd nn Date Printed Name IS Sit I0 T\ (/ �Ort, Title Dine_ PrcSi gnk C_Da Q Company Name S-ha12,'1Q.k. -(r Phone No. c G? 2(OZ '—'7ig8 I oSubscribed and sworn before me this 161 day of OW b z^Bp- My commission expires 1-1-135 Poi �I 4 "'.. �. / ') 4 _ . Q ') Notary Pupil?) STAR-owned ' tr an ? C D .r �•' h ' W O CD Ns r Cr) oti CO CDao 0 VJ w J a. U , O O a�LL v �U- a,o a m LL In' W o c co ' O N u, U INsm, ri o E In o m o2 3 m c m m = c m CDUDIll a a U N T U U m O 2 p ID O - 07 O 2 T +; 00 CO I_ MINIMUM O O C N tf1 D L r U N ~a C T IL1 D D U N CO cu a v O OWin _ (/) N Ua Z o I 03/15/2011 Attn: Chris Woodruff RE: 2009 & 2010 Abatement received 01/03/11 Startek, Inc. (east location) 1250 H Street Greeley, CO 2009& 2010 Assessors Value$1,921,920 SUBJECT: The subject property is a commercial Office property located in east Greeley south of O Street and west of 11th Avenue near Business Highway 85. The subject was built in 1998 and is considered to be in below average condition for its age and use due to the minimal office finish and partitioning as the subject is used as a call center. The building is owner occupied by Startek, Inc. Consultus Asset Valuation, Inc. is representing the petitioner and has requested a reduction in value from $1,921,920 to$1,000,000 for tax years 2009 and 2010. Cost Approach: The subject is valued based on its actual age at$2,807,990. Market Approach: The subject is valued at $55/sf for the 2009 and 2010 assessment period. Sales of similar Office occupancies revealed a range of sales from $46.61 -$113.27/sf. Due to the office portion of the subject having minimal partitioning for its call center, a market value of$55/sf was selected. This yielded a market value of$1,921,920. Income Approach: After multiple requests, the owner/petitioner did not respond to requests for their actual income. Typical lease rates during the assessment period for Office occupancy ranged from $8.50-$13 /sf. The subject was valued at$9/sf. Typical expenses of 8%were given and the resulting value was capitalized at 9%, producing an Income Approach value of$2,329,600. Summary: Each of the approaches above support the value of the Assessor's Office, therefore, I would recommend a denial of the petitioner's request for abatement. Weld Count CHRISTOPHER WOODRUFF COUNTY ASSESSOI BRENDA DONES, DEPUTY ASSESSO VALUATION REPORT OF COMMERCIAL PROPERTY FOR County Board of Equalization STARTEK, INC. PETITIONER VS. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 080331111004 Schedule Number: R6777530 Log Number: Date: Time: Board: PREPARED BY NOEL LAWRENCE l� % wort,e) 03/15/2011 l % Signature Date ASSESSOR'S OFFICE STAFF APPRAISER ASSESSOR'S VALUE Improvements $1,660,887 Land $261,033 Total: $1,921,920 CBOE_COMM 010'1 Pag SALIENT FACTS AND CONCLUSIONS Purpose of Appraisal To determine Market Value for tax years 2009 and 2010 as of 1/1/09 based on an appraisal date of 6/30/08. Property Rights Appraised Unencumbered fee simple interest. Location 1250 H Street Greeley Land Area 7.99 Acres / 348,044 SF Property Type Commercial Office Building Year Built 1998 Year Remodeled n/a Quality Low (minimal partition and finish for typical office) Class Masonry Number of Stories 1 Improvement Sq. Ft. 34,944 Value Indications: Cost Approach $ 2,807,990 Market Approach $ 1,921,920 Income Approach $ 2,329,600 Assessor's Value $1 ,921 ,920 CBOE_COMM_010 Pag LAND VALUE Sales utilized to establish the value in the subject neighborhood are from 2007 and the first six months of 2008 for the 2009 and 2010 assessment date. The comparative sales approach is the most reliable method of land valuation. Pursuant to 39-104-(10.2) (c) C. R. S., the Assessor may utilize sales from July 2003 through June of 2008 to establish the proper value, if sufficient information is not available in the prior 18 months. Also, comparables outside the subject property area may be used. The Weld County Assessor has an established ongoing sales confirmation and validation program for property transactions used in developing value. The land size of the subject is 348,044 (rounded) square feet. Comparable commercial land in the subject area is valued at $.75 per square foot or $32,670 per acre. Parcel Number Sale Date Sale Price Land Size Per Sq Ft Comparable 1 080329000018 02/27/07 $830,000 735,293 1.13 Comparable 2 070832137008 03/23/07 $285,000 435,600 .61 Comparable 3 096120208023 04/16/07 $862,300 390,299 2.21 Comparable 4 095714202004 01/04/07 $270,631 102,125 2.65 ASSESSOR'S SUBJECT LAND VALUE $261,262 CBOE_COMM_01 Pa r i a.. �� r ' 4h +. ' 'tit'}` "+'• _ 71'Fs ' r ti^'*4r5 r� -d r y 1 f $ d x$$$$$, s tT ✓ 0. 2000 CBOE_COMM_0• Pa • Page 1 of I � • C1 l.D{ , I Y 6. ✓, • i{t j \ # j ,� x 2 f 1t ,�4 t( 'd"'- t7 �r '�l t # 'e fir f.� ; _ ''• r : �. ._ '. . I i SUBJECT: a •1,250:1Street - t ' 1 1; .1 f3..ri.. f ,,-...t...: ,. �'s 0 7 ` k� r t "I'm r ' K I -lit f.- V :y } ' ObSIr3 U�3? : . ry .u Ct C� rie5T' f t r s 4.5 e . 44,74...“... �y 1 ° SST�} r sc.--; •9 1 i '� Wa y. . +. z , �Oµ r �ASTR z y `� ,, .f_ t ,-.11.5.: r 35 f•- rhea1 xl int c. '. .' ' r'--f. , ``F.1�1( th a.M e... . ° 7 C a., }Z P147-- i� < 1x�. r 0 SP ' III- "` D STS-,v, ', .:,..b,`.-44;-.s-#L r'rrr : r „ `z mi a n . f,#. 6, - fir 6 &.` co (. ,5 ?14' il u,�'°�ii —9-1 9� ,, �. {�.l .4 l'MI; x r itii An>.:r �,-t:: Wily,.1'a + y K I'r � : , A.i SL F [�� 1.fr .�'r14-0 41r+ 4-_ :µ 'Ncw , Irvt x7Trn*".11 t Y:s`'."Ss':3.i s u.•„r ;' !. .'; ma 'tenter.40�,26-28 N. Y04•A42 Ft4�W j http://geoware2:8080/imf-sdg2/imfMainMap.j sp?cmd=zoom&x1=3221592.4676980506&... 3/15/2011 • COMPARATIVE SALES SUMMARY Real Property for the tax year 2009 and 2010 must be valued utilizing data for the period one and one-half years immediately prior to July 1, 2008. If comparable valuation data is not available from such one and one-half year period to adequately determine the level of value for a class of property, pursuant to 39-1-104 (10.2)(c) C.R.S, the Assessor may utilize sales five years prior to July 1, 2008 establish the proper value. The Assessor has appropriately considered the Market Approach to value for the property on appea The Sales Comparison Approach was considered in developing a market value for the Subject. Sat used to establish a market value for the tax year 2009 and 2010 are from January 1, 2007 through June 30, 2008. All sales have been confirmed and verified through transfer declarations as well as interviews with buyers, sellers or their representatives to the sale. All sales used are arm's length transactions, and considered to be the most comparable properties sold in relationship to the Subjel property. Based upon investigation and analysis, it is the opinion of the appraisers that the value of $55 / sf accurately reflects the market value of the subject property. VALUE As INDICATED BY THE MARKET APPROACH $ 1,921,920 CBOE_COMM_O' P. COMPARATIVE SALES APPROACH SALE # Subject 1 2 3 Comments Parcel # 080331100057 096120101008 095910227010 095911327002 Address 1250 H Street 3026 4th Ave 1175 58th Ave 4645 W 18 St Grantor Jagg Enterprises Dj Fagerberg State Farm Grantee Frac Tech Svcs. Jan Wagner 18 West Venture Sale Date 06/27/2007 01/14/2008 08/25/2006 Assessor's Value Sale Price 1,921,920 1,950,000 1,690,000 1,250,600 Land Size 348,044 327,057 60,548 91,040 L/B Ratio 9.96 12.17 4.06 6.03 Bldg SF 34,944 26,878 14,920 15,109 Eff. age 1998 1980 1999 1992 Use Office Office/Sv Garage Office Office/Sv Garage Assessor's Value Sale PSF $55.00 $72.55 $113.27 $46.61 Comps Range: $46.61-113.27 Comps Avg: $77.47 Comps Median: $72.55 Value per Market Sales $55 x 34,944 sq ft = $1,921,920 Due to the subjects minimal office partitioning the value / sf was placed at the low end of the range CBOE_COMM_011 Pa • BLDG#1 35 0' Stucco siding 320' Once 240' 3525 0 sf 106 0' inn 21.0 I 120' Office Office Office 2M Office Classy ti Y3 Y4 fax VOC1980 60 � x a ♦t 5o Cd`t i0. 500' Remodeled 2000 660' 20'wH rn~ ..... Entrance u' Package air 3 � � Open Porch 9 y\\\.,'.vtht 4.O _ it — - ,r 330' v c 69.0' 6 a 2504 ...n..nn�. 350' Bldg vo..... Eggvicec.9BA9E s0000e 90A,999 Aso is wri 4 xh f/ .+. i 4..sbi`ihsa 199AVILWArt N COMPARABLE SALE COUNTY: WELD ACCOUNT R3854286 PARCEL NUMBER: 096120101008 PRIMARY OCC: Office Building PERCENT: 67% SECONDARY OCC: Service Garage PERCENT: 33% THIRD OCC: PERCENT: ADDRESS: 3026 4 AV, GREELEY RECEPT NUMBER: 3487670 SALE DATE: 6/29/2007 GRANTOR: JAGG ENTERPRISES LLC SALE PRICE: $1,950,000 GRANTEE: FRAC TECH SERVICES LTD ADJ SALE PRICE: YEAR BUILT: 1980 CLASS: S EFFECTIVE AGE: LAND/BLDG RATIO: 12.17 LAND SIZE (SF): 327,054 LAND VALUE: $327,054 BLDG SIZE(SF): 26,878 IMPS PRICE/SF: $60.38 WALL HEIGHT: 10'& 16' SALE PRICE/SF: $72.55 STORIES: 2 INTEREST RATE: BSMNT SIZE: DOWN PYMT: BSMNT FINISH: LOAN TERM (YRS): ZONING: GRE IM POINTS PAID: QUALITY: Average COMMENTS: The sale included the vacant land parcel directly to the south of the subject(wol 096120101030.) Bldg#1 is a 17,878 sq ft office bldg(approx 80%was remodeled from whse to office in 2000)and bldg#2 is a 9,000 sq ft service garage. o. Covered Balcony nt-. over Covered Balcony v88 sq First Story Covered Balcony p705gI & n,.g( $ 23 i i v 1311' kl, ✓ ra `� 1d.0 t15' 308 381, 208 Concrete 1513.0apI 70.8' 1 .d #�s 121' 13 29.2' 53� �.3' 291. 13' r 127187 'k 10' 1.0' 10' 2 1n�{�§-a5 Relalning Wall Y i 1 ,.. r lg +• / OFFICE First 75360s It _...._ �._— ✓y`a'°'.. f 520' q 520' Second Floor 7384.0 sq.ft. _ Total 14920.0 sq.ft61 „;$5 Tom 20' 207' 20 283' 2➢' 20.7' 2A' 203' CO 207 10' 117 j t yy 1t Canopy 10: Canopy Canopy Ib, h^ t 'R y}{d 3-; 03.0 sq.X. 93.0s6a 93➢'4X. X16-54a+ ., sidewalk 8120 5q.M1 1354 COMPARABLE SALE COUNTY: WELD ACCOUNT NUMBER: R7370898 PARCEL NUMBER: 095910227010 PRIMARY OCC: Office Building PERCENT: 100% ADDRESS: 1175 58 AV A GREELEY RECEPT NUMBER: 3529017 SALE DATE: 1/14/2008 GRANTOR: DJ CD FAGERBERG LTD SALE PRICE: $1,700,000 GRANTEE: WAGNER JAN GILLESPIE ADJ SALE PRICE: $1,690,000 YEAR BUILT: 1999 CLASS: D EFFECTIVE AGE: 2001 LAND/BLDG RATIO: 4.06 LAND SIZE (SF): 60,548 LAND VALUE: $332,956 BLDG SIZE(SF): 14,920 IMPS PRICE/SF: $90.95 WALL HEIGHT: 9 SALE PRICE/SF: $113.27 STORIES: 1 INTEREST RATE: BSMNT SIZE: DOWN PYMT: BSMNT FINISH: LOAN TERM (YRS): ZONING: GRE CH POINTS PAID: QUALITY: Good COMMENTS: The building is single story with a walk out basement. At the time of purchase the building was mostly vacant and an asking price of$2,100,000 or $140 per square foot. The buyer is planning to mostly occupy and hoping to lease a couple thousand square feet for $12.00 per SF NNN. The buyer paid $10,000 at the time of sale for office partitions. These are considered personnel property and deducted from the sale price. ee6 � wYErcioxie b lii l'* BM i air xe+• m y Office 131]1.65F Total Building 15106 9 SF 4> Aeae r' d " 110135E x yam, m m y w. 4B0' �.,,._. 1192 5 155' COMPARABLE SALE COUNTY: WELD ACCOUNT R2094186 PARCEL NUMBER: 095911327002 PRIMARY OCC: Office Building PERCENT: 91% SECONDARY OCC: Service Garage PERCENT: 9% THIRD OCC: PERCENT: ADDRESS: 4645 W 18 ST GREELEY RECEPT NUMBER: 3416118 SALE DATE: 8/25/2006 GRANTOR: STATE FARM MUTUAL AUTOMOBILE SALE PRICE: $1,250,600 GRANTEE: 18 WEST VENTUES LLC ADJ SALE PRICE: YEAR BUILT: 1992 CLASS: C EFFECTIVE AGE: LAND/BLDG RATIO: 6.03 LAND SIZE (SF): 91,040 LAND VALUE: $546,240 BLDG SIZE(SF): 15,109 IMPS PRICE/SF: $46.61 WALL HEIGHT: 15 SALE PRICE/SF: $82.77 STORIES: I INTEREST RATE: BSMNT SIZE: DOWN PYMT: BSMNT FINISH: LOAN TERM (YRS): ZONING: POINTS PAID: QUALITY: Average COMMENTS: OFFICE HAS MINIMAL INTERIOR PARTITIONING.OFFICE 13,728 SF,GARAGE 1381 SF. CONFIRMED SALE WITH CARL HILL Income Approach Startek East- 1250 H Street 2009 and 2010 Tax Year Potential Net Income 279552 34,944 sf x$8 total income 279552 Less total expenses (8%) 22364 less vacancy (17%) 47524 NOI 209664 Divided by cap rate Rounded 0.09 $2,329,600.00 Total Value $2,329,600.00 Square footage 34,944 $66.67 Value/SF . . CONCLUSION Real property for tax year 2009 and 2010 must be valued utilizing the level of value for the period of one and one-half years immediately prior to July 1,2008. Except that, if comparable valuation data h not available from such one-and one-half-year period to adequately determine the level of value of a class of property, the period of five years immediately prior to July 1, 2008 shall be utilized to determine the level of value. 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 following level of value is implemented, other than additions, change in use, detrimental acts of nature, damage due to fire, etc., or creation of a condominium, or any new regulations restricting or increasing the use of the land, or a combination thereof. {39-1-104(11)(b)(1) c. R .S.} 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 consider( all three approaches to value for the subject parcel on appeal. FINAL RECONCILIATION After consideration of the cost, market and income approaches, it is the Weld County Assessor's opinion that the value of$1,921,920 most accurately reflects the value of the subject property in We County for the 2009 and 2010 tax year. COST APPROACH MARKET APPROACH INCOME APPROACH $2,807,990 $2,271,360 $1,921,920 ASSESSOR'S VALUE Improvements & Land $1,921,920 Total: $1,921,920 CBOE_COMM_0' P, CLERK TO THE BOARD PHONE: (970) 336-7215, EXT. 4226 1 8 6 1 - 2 0 1 1 FAX: (970) 352-0242 915 10TH STREET P.O. BOX 758 GREELEY, COLORADO 80632 WELD_ _BOUNTY I March 21, 2011 STARTEK INC 44 COOK ST 4TH FLR DENVER CO 80206 RE: SCHEDULE NUMBER R6777530 and R7083798 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: 1250 H Street and 244 Dundee, Greeley, CO. The meeting is scheduled for April 18, 2011, at 9:00 a.m., in the First Floor Meeting Room, Weld County Centennial Center, 915 10th Street, Greeley, Colorado. The Assessor is recommending that the Board deny your petitions. 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 CONSULTUS ASSET VALUATION INC 68 INVERNESS LANE EAST#205 ENGLEWOOD CO 80112 2011-0951 CLERK TO THE BOARD PHONE: (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 I 8 6 1 - 2 I I 915 10TH STREET P.O. BOX 758 GREELEY, COLORADO 80632 WELD_eOUNTY May 5, 2011 STARTEK INC 44 COOK ST 4TH FL DENVER CO 80206 RE: SCHEDULE NUMBER R6777530 and R7083798 Dear Property Owner: On April 18, 2011, the Board of Weld County Commissioners considered your petition for abatement or refund of taxes and denied same. Pursuant to Section 39-2-125(f), C.R.S., you have the right to appeal this decision to the State Board of Assessment Appeals within thirty days. You may obtain the appropriate forms and instructions from: Board of Assessment Appeals, Department of Local Affairs, 1313 Sherman Street, Room 315 Denver, CO 80203 Phone: 303-866-5880 In preparation for appealing to the State Board of Assessment Appeals you may also go to the following state link to obtain any further information you may need to proceed, http://www.dola.state.co.us/baa/index.htm Very truly yours, Tonya Disney Deputy Clerk to the Board cc: Assessor CONSULTUS ASSET VALUATION INC 68 INVERNESS LANE EAST#205 ENGLEWOOD CO 80112 Hello