HomeMy WebLinkAbout20112137 6 CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4226
rice
FAX: (970) 352-0242
P. O. BOX 758
GREELEY, COLORADO 80632
Ci
COLORADO
August 3, 2011
GARAGE PROPERTIES LLC
1371 HECLA DRIVE STE D110
LOUISVILLE, CO 80027
RE: THE BOARD OF EQUALIZATION, 2011, WELD COUNTY, COLORADO -
ADMINISTRATIVE DENIAL OF PETITIONER'S APPEAL AND AFFIRM
ASSESSOR'S VALUE
DESCRIPTION OF PROPERTY:ACCOUNT#: R6778822 PARCEL#: 146702310003- UNIT D3
BLDG D GARAGE UNITZ AT DACONO CONDO
Dear Petitioner:
On July 29, 2011,the Board of County Commissioners of Weld County, Colorado,convened,
and acting as the Board of Equalization, pursuant to Section 39-8-101, C.R.S., et.seq.,considered
your request for an Administrative Denial of your petition of appeal of the County Assessor's
valuation of your property described above, for the year 2011.
The assessment and valuation of the Weld County Assessor was affirmed as follows:
ACTUAL VALUE AS ACTUAL VALUE AS
DETERMINED BY SET BY BOARD
ASSESSOR
$43,904 $33,750
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2011-2137
AS0079
GARAGE PROPERTIES LLC - R6778822
Page 2
A denial of a petition, in whole or in part, by the Board of Equalization may be appealed by
selecting one of the following three options; however, said appeal must be filed within 30 days of
the denial:
1. Board of Assessment Appeals: You have the right to appeal the County Board
of Equalization's(CBOE's)decision to the Board of Assessment Appeals (BAA).
Such hearing is the final hearing at which testimony, exhibits, or any other
evidence may be introduced. If the decision of the BAA is further appealed to
the Court of Appeals, only the record created at the BAA hearing shall be the
basis for the Court's decision. No new evidence can be introduced at the Court
of Appeals. (Section 39-8-108(10), C.R.S.)
Appeals to the BAA must be made on forms furnished by the BAA, and such
appeals should be mailed or delivered within thirty (30) days of denial by the
CBOE to:
Board of Assessment Appeals
1313 Sherman Street, Room 315
Denver, CO 80203
Phone: 303-866-5880
NOTE: On or after August 10, 2011, any appeal of the valuation of rent-
producing commercial real property to the Board of Assessment Appeals shall
provide to the County Board of Equalization the following information within
ninety (90) days after the appeal is filed.
For two full years, including the base year for the relevant property tax year:
(1) actual annual rental income
(2) tenant reimbursements
(3) itemized expenses
(4) rent roll data, including the name of any tenants, the address, unit, or
suite number of the subject property, lease start and end dates, option
terms, base rent, square footage leased, and vacant space
Fees: A taxpayer representing himself is not charged for the first two appeals to
the Board of Assessment Appeals; however, a taxpayer being represented by an
agent or an attorney must submit a fee of$101.25 per appeal.
OR
2. District Court: You have the right to appeal the CBOE's decision to the District
Court of the county wherein your property is located. New testimony, exhibits or
any other evidence may be introduced at the District Court hearing. For filing
requirements, please contact your attorney or the Clerk of the District Court.
Further appeal of the District Court's decision is made to the Court of Appeals for
a review of the record. (Section 39-8-108(1), C.R.S.)
OR
2011-2137
AS0079
GARAGE PROPERTIES LLC - R6778822
Page 3
3. Binding Arbitration: You have the right to submit your case to arbitration. If
you choose this option the arbitrator's decision is final and your right to appeal
your current valuation ends. (Section 39-8-108.5, C.R.S.)
Selecting the Arbitrator: In order to pursue arbitration, you must notify the
CBOE of your intent. You and the CBOE select an arbitrator from the official list
of qualified people. If you cannot agree on an arbitrator, the District Court of the
county in which the property is located will make the selection.
Arbitration Hearing Procedure: Arbitration hearings are held within sixty days
from the date the arbitrator is selected. Both you and the CBOE are entitled to
participate. The hearings are informal. The arbitrator has the authority to issue
subpoenas for witnesses, books, records, documents and other evidence. He
also has the power to administer oaths,and all questions of law and fact shall be
determined by him.
The arbitration hearing may be confidential and closed to the public, upon mutual
agreement. The arbitrator's written decision must be delivered to both parties
personally or by registered mail within ten (10) days of the hearing. Such
decision is final and not subject to review.
Fees and Expenses: The arbitrator's fees and expenses are agreed upon by
you and the CBOE. In the case of residential real property, such fees and
expenses cannot exceed $150.00 per case. The arbitrator's fees and expenses,
not including counsel fees, are to be paid as provided in the decision.
If you have questions or need additional information, please do not hesitate to contact me at
(970) 336-7215, Extension 4226.
Very truly yours,
Esther E. Gesick
Deputy Clerk to the Board
cc: Christopher Woodruff, Assessor
2011-2137
AS0079
NOTICE OF DETERMINATION
Christopher M. Woodruff Date of Notice: 6/22/2011
Weld County Assessor r r -i Telephone: (970) 353-3845 or (720) 652-4255
1400 N 17th Ave -- -'Fax: (970) 304-6433
Greeley, CO 80631 E-mail: appeals@co.weld.co.us
www.co.weld.co.us L: i v:` ) 8 A I Off e Hours: 8:00 AM - 5:00 PM
SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/
PHYSICAL LOCATION
R6778822 2011 3271 UNIT D3 BLDG D GARAGE UNITZ AT
DACONO CONDO
¢ 151 MT. ELBERTAV D3, DACONO
Z GARAGE PROPERTIES LLC
O 1371 HECLA DRIVE STE D110
LOUISVILLE,CO 80027
a
O
¢
a
ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER
REVIEW REVIEW
COMMERCIAL 73,125 43,904
TOTAL $73,125 $43,904
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:
CM03 -After review of your property, we have made adjustments. This was done because of
additional information obtained, or provided thru the appeal process.
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 deadline for filing personal property appeals is July 20.
The Assessor establishes property values. The local taxing authorities (county, school district,
city, fire protection, and other special districts) set mill levies. The mill levy requested by each
taxing authority is based on a projected budget and the property tax revenue required to
adequately fund the services it provides to its taxpayers. The local taxing authorities hold
budget hearings in the fall. If you are concerned about mill levies, we recommend that you
attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a
listing of the local taxing authorities.
Please refer to the reverse side of this notice for additional information.
15-DPT-AR
2011-2137 PR 207-08/11
R6778822 12893
APPEAL PROCEDURES
County Board of Equalization Hearings will be held from July 1 through August 5
at 915 10th Street, Greeley, CO
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
915 loth Street, P.O. Box 758
Greeley, CO 80632
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 and on or before July 20 for
personal 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 9th Avenue and 9th Street
Denver, CO 80203 P.O. Box C
(303) 866-5880 Greeley, Colorado 80632
www.dola.colorado.dov/baa (970) 356-4000 Ext. 4520
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, 2010? (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.)
$ >t,�&'o
What is the basis for your estimate of value or your reason for requesting a review? (Please attach
additional shoots ac nocoosary and any supporting dccun entation, i.e., comparable sales, rent roil,
original installed cost, appraisal, etc.)
AALJeci-
ATTESTATION
I, the undersigned owner or agent' of the property identified above, affirm that the statements contained
rein and on a attachments hereto are true and complete.
Telephone Number Date
' Attach letter of authorization signed by property owner.
Garage Properties,LLC
1371 Hecla Drive,Unit D110
Louisville,CO 80027
July 14, 2011
Weld County Board of Equalization
915 10th Street, P.O. Box 758
Greeley, CO 80632
RE: Appeal of Assessed Value/Classification—Garage Unitz @ Dacono
Dear Sir/Madam:
We are writing this letter to appeal the 2011 notice of determination for Garage Properties,LLC, located
at 151 Mt. Elbert Avenue,Dacono, CO 80514 (Unit B5 —Account#R6778811)and (Unit D3—Account
#R6778822). We would like to appeal the Assessor's decision of both the classification and the value.
First,this product is driven by residential homeowners' associations. People have a need for this product
due to the stringent codes of their respective homeowners' associations. In most cases, RVs, boats,
trailers, snowmobiles, small campers, etc. cannot be stored in plain sight or on an adjacent street to any
residence due to HOA declarations. At the very least, some homeowners may be able to store at their
residence but only for a limited amount of time (i.e. 48 hours, 3 days, etc.). If one had enough land to
construct a pole barn at their place of residence, the pole barn would be classified as part of their
residential usage. In summary,this product is driven by residential storage constraints, which explains
why we feel this product should fall under the residential classification.
Second, the assessed value of each individual garage was based on a per square foot basis of sales data
collected from similar properties such as Garage Town located in Longmont and Frederick West Storage
Garage Condos located in Frederick in the time frame between January 1, 2009 and June 30, 2010.
During the time frame from January 1, 2009 to June 30, 2010 there were no sales at Garage Unitz.
Therefore,we would argue that the income approach to valuation should be used to determine an
appropriate valuation at this location. We have attached a calculation of the value per square foot based
on the income approach using the rental activity data as of June 30, 2010. Under the income approach on
the attached spreadsheet,the value per square foot would be $19.36. Based on this value per square foot,
the value of Unit B5 would be $19,360 for 1,000 square feet and the value of Unit D3 would be $21,780
for 1,125 square feet.
We appreciate your consideration with respect to these matters. Please feel free to contact me at (303)
908-0561 if you have any further questions.
Sincerely,
Aric T. Hilmas
Managing Member
Garage Properties,LLC
Garage Properties, LLC
Unit BS-Account#R6778811
Property Tax Appeal
July 14, 2011
Income Approach:
As of June 30, 2010, Unitz, LLC had zero sales and 8 units rented. As such,there was a 73.33%
vacancy rate as of 06/30/10. The following information is taken from the actual leases in
existence as of June 30, 2010.
Monthly Rental Income (Gross) 4,340
times: Months in Year 12
Annual Rental Income (Gross) 52,080
divided by: Square Footage of Rented Units 8,775
Rental Price per Square Foot 5.94
Less:Vacancy(50%) (2.97) Actual Vacancy Rate is 73.33%
Less: Management Fees (5%) (0.30)
Less: Reserves (3%) (0.18)
Adjusted Rental Price per Square Foot 2.49
divided by:Adjusted Capitalization Rate 0.12860132 (A)
Value per Square Foot based on Income Approach $19.36
Square Footage of Unit 85 1,000
Value of Unit BS based on Income Approach $19,360.00
Capitalization Rate Calculation:
Commercial Tax Rate 0.29
x Mill Levy 0.133108
0.03860132
+Capitalization Rate 0.09000000
Adjusted Capitalization Rate 0.12860132 (A)
Garage Properties, LLC
Unit D3-Account#R6778822
Property Tax Appeal
July 14, 2011
Income Approach:
As of June 30, 2010, Unitz, LLC had zero sales and 8 units rented. As such,there was a 73.33%
vacancy rate as of 06/30/10. The following information is taken from the actual leases in
existence as of June 30, 2010.
Monthly Rental Income(Gross) 4,340
times: Months in Year 12
Annual Rental Income (Gross) 52,080
divided by: Square Footage of Rented Units 8,775
Rental Price per Square Foot 5.94
Less:Vacancy (50%) (2.97) Actual Vacancy Rate is 73.33%
Less: Management Fees(5%) (0.30)
Less: Reserves (3%) (0.18)
Adjusted Rental Price per Square Foot 2.49
divided by: Adjusted Capitalization Rate 0.12860132 (A)
Value per Square Foot based on Income Approach $19.36
Square Footage of Unit D3 1,125
Value of Unit D3 based on Income Approach $21,780.00
Capitalization Rate Calculation:
Commercial Tax Rate 0.29
x Mill Levy 0.133108
0.03860132
+Capitalization Rate 0.09000000
Adjusted Capitalization Rate 0.12860132 (A)
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Esther Gesick
From: Wade Melies
Sent: Thursday, July 28, 2011 7:42 AM
To: Esther Gesick
Subject: R6778822 Admin Deny — Czu ,c ?j rerrti.to
Ester
This is the weird administration Denial. We are going to adjust the value from $43,904 to$33,750. But deny
the classification change request. So over all it is a denial in part.
If you have any more questions, let me know.
Wade
Wade J. Melies
Commercial Appraiser
Weld County Assessor's Office
970-353-3845 ext 3672
wmelies(W.co.weld.co.us
1841 101
'741f.
W E lu�uE OU NIY
Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for
the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise
protected from disclosure. If you have received this communication in error, please immediately notify sender by return
e-mail and destroy the communication.Any disclosure, copying, distribution or the taking of any action concerning the
contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited.
1
Donna Bechler
From: Esther Gesick
Sent: Monday, July 25, 2011 9:01 AM
To: Donna Bechler
Subject: FW: R6778822 Garage Properties, LLC
Attachments: R6778811+1-Garage Properties LLC.pdf; Letter_AdminDeny.docx
Please print message below as backup with this one when you pull it. Thanks!
Esther E. Gesick
Deputy Clerk to the Board/Office Manager
915 10th Street
Greeley, CO 80631
tel: (970)336-7215 X4226
, 4 , )
W E t`O_fiU JN T Y
u
Confidentiality Notice:This electronic transmission and any attached documents or other writings are intended only for
the person or entity to which it is addressed and may contain information that is privileged,confidential or otherwise
protected from disclosure, If you have received this communication in error, please immediately notify sender by return
e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the
contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited.
From: Wade Melies
Sent: Monday, July 25, 2011 8:09 AM
To: Esther Gesick; Courtney Anaya; Charles Jack
Cc: Brenda Dones
Subject: R6778822 Garage Properties, LLC
This is an Administrative Denial that is unusual. The appeal is for a change in value and classification. We have agree to
a value change;
was$43,904 to $33,750
However we disagree on the classification and is unchanged.
I believe the Letter_AdminDeny will handle this. On page two the letter states "A denial of a petition, in whole or in
part." We will just need to handle this carefully because it is different than the typical administrative denial.
Please tell me how I can help?
Thanks
Wade
From: Aric Hilmas f mailto:Aric(ahilmascoa.comj
Sent: Friday, July 22, 2011 2:52 PM
To: Wade Melies
Subject: Garage Properties, LLC
Wade,
1
This letter is written to request a partial administrative denial on the classification of Unit D-3 (Account# R6778822).
Please call me at (303) 908-0561 if you have any further questions or need any additional information.
Thanks,
Aric T Hilmas
Managing Member
Garage Properties, LLC
2
«NAME» - «ACCOUNTNO»
Page 2
A denial of a petition, in whole or in part, by the Board of Equalization may be appealed
by selecting one of the following three options; however, said appeal must be filed within 30
days of the denial:
1. Board of Assessment Appeals: You have the right to appeal the County
Board of Equalization's (CBOE's) decision to the Board of Assessment
Appeals (BAA). Such hearing is the final hearing at which testimony,
exhibits, or any other evidence may be introduced. If the decision of the BAA
is further appealed to the Court of Appeals, only the record created at the
BAA hearing shall be the basis for the Court's decision. No new evidence
can be introduced at the Court of Appeals. (Section 39-8-108(10), C.R.S.)
Appeals to the BAA must be made on forms furnished by the BAA, and such
appeals should be mailed or delivered within thirty (30) days of denial by the
CBOE to:
Board of Assessment Appeals
1313 Sherman Street, Room 315
Denver, CO 80203
Phone: 303-866-5880
Fees: A taxpayer representing himself is not charged for the first two
appeals to the Board of Assessment Appeals; however, a taxpayer being
represented by an agent or an attorney must submit a fee of $101.25 per
appeal.
OR
2. District Court: You have the right to appeal the CBOE's decision to the
District Court of the county wherein your property is located. New testimony,
exhibits or any other evidence may be introduced at the District Court
hearing. For filing requirements, please contact your attorney or the Clerk of
the District Court. Further appeal of the District Court's decision is made to
the Court of Appeals for a review of the record. (Section 39-8-108(1), C.R.S.)
OR
3. Binding Arbitration: You have the right to submit your case to arbitration. If
you choose this option the arbitrator's decision is final and your right to
appeal your current valuation ends. (Section 39-8-108.5, C.R.S.)
Selecting the Arbitrator: In order to pursue arbitration, you must notify the
CBOE of your intent. You and the CBOE select an arbitrator from the official
list of qualified people. If you cannot agree on an arbitrator, the District Court
of the county in which the property is located will make the selection.
Arbitration Hearing Procedure: Arbitration hearings are held within sixty
days from the date the arbitrator is selected. Both you and the CBOE are
entitled to participate. The hearings are informal. The arbitrator has the
authority to issue subpoenas for witnesses, books, records, documents and
«RESONUM»
AS0076
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