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Home My WebLink About20101654.tiff b CLERK TO THE BOARD PHONE (970) 356-4000 EXT 4226 I FAX: (970) 352-0242 915 10TH STREET P.O. BOX 758 GREELEY, COLORADO 80632 COLORADO August 2, 2010 FIRST NATIONAL BANK 155E BOARDWALK No. 200 PO BOX 272500 FORT COLLINS, CO 80527 Parcel No. and Account No.: VARIOUS - SEE ATTACHED LIST Dear Petitioner(s): Based upon information furnished to the Weld County Board of Equalization, we understand that you have withdrawn the petitions challenging the valuation of the listed PIN numbers. Please be informed that a withdrawn petition precludes any further challenge to the valuation of the listed PIN numbers for this assessment period. Therefore, the Board of Equalization took no action on your petitions and the assessed values remain as set by the Assessor. Very truly yours, BOARD OF EQUALIZATION Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor FACILITY SOLUTIONS 628 MAIN STREET WINDSOR, CO 80550 C/4, /o rik ) 2010-1654 t45(C'oar/ilea w M2e� chfilVt AS0076 FIRST NATIONAL BANK -VARIOUS (SEE LIST) PAGE 2 PARCEL#: 105506229018 ACCOUNT#: R2214103 PARCEL #: 096131326010 ACCOUNT#: R2210303 PARCEL #: 096131326014 ACCOUNT#: R2210703 PARCEL#: 096131326012 ACCOUNT#: R2210503 PARCEL#: 096131326015 ACCOUNT#: R2210803 PARCEL #: 096131326013 ACCOUNT#: R2210603 PARCEL#: 096131326011 ACCOUNT#: R2210403 Weld County CHRISTOPHER M.WOODRUFF COUNTY ASSESSOR BRENDA DONES,DEPUTY ASSESSOR VALUATION REPORT OF VACANT LAND FOR Weld County Board of Equalization FIRST NATIONAL BANK PETITIONER VS. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: Dove Hill Estates Schedule Number: R2213603 + 44 Log Number: 3121 Date: 7/30/2010 Time: 01:45 PM Board: CBOE PREPARED BY MILLIE CHANNELL WELD COUNTY ASSESSOR'S OFFICE STAFF APPRAISER C0OE_VacLantl 010998 Page 1 DOVE HILL ESTATES SUBDIVISION Account 2010 Account 2010 Number Value Number Value R2213603 $9,632 R2203103 $50,000 R2213403 $9,632 R2205703 $50,000 R2213503 $9,632 R2210303 $40,000 R2215203 $9,632 R2210403 $40,000 R2215303 $9,632 R2210503 $40,000 R2215503 $9,632 R2210603 $40,000 R3596505 $9,632 R2210703 $40,000 R3596605 $9,632 R2210803 $40,000 R3596705 $9,632 R2212003 $50,000 R3598405 $9,632 R2214103 $40,000 R3598605 $9,632 R3598705 $9,632 R3598805 $9,632 TOTAL OF R3598905 $9,632 ACCTS $767,120 R3599005 $9,632 R3599105 $9,632 R3599205 $9,632 R3599305 $9,632 R3599405 $9,632 R3599505 $9,632 R3599605 $9,632 R4096206 $9,632 R4096306 $9,632 R4096406 $9,632 R4096506 $9,632 R4096606 $9,632 R4096706 $9,632 R4096806 $9,632 R4096906 $9,632 R4097006 $9,632 R4097106 $9,632 R4097306 $9,632 R4097406 $9,632 R4097506 $9,632 R4097606 $9,632 CBOE_VacLand_010998 Page 2 GENERAL DESCRIPTION OF SUBJECT The subject property has 45 lots described as Dove Hill Estates located within the town limits of LaSalle. (See the attached listing of accounts on page 2.) The entire Dove Hill Estates subdivision is approximately 62 acres and has platted 193 buildable sites, ranging in size from 6,300 to 13,700 square feet each. Phase 1 (Green area) is located south of Phase 2 (Yellow area) and north of Phase 3 and includes 41 buildable sites, of which 3 had residential building improvements on June 30, 2008. The 35 vacant lots in this Phase 1 are being appealed. These are currently being valued by market present worth discounting. Phase 2 encompasses the northern portion of the subdivision and did not receive discounting in 2009 because over 80% were sold to an end user. These are all at full market value for 2010. Phase 2 has 79 buildable sites with 10 being vacant, and it is these 10 vacant lots that are being appealed. The 45 subject lots have been inspected every January since 2003 and most recently on July 23"1, 2010. All utilities are clearly evident on each lot for Phase 1 and 2. 44, - . i i comity, Colonraifc' DOVE HILL ESTATES Tr.re..ie:M. ,in^:ar; fr.ro,a et " / SOUTH PLATTE RIVER l 1 Lard i Lhrllotan �► if / IV Rolls f� 1rt Wool , j�l (�.,� 114 GREEN - PHASE 1 � ,��7�// YELLOW- PHASE 2 1 tb* befjp * / • 4) 46 (N, 1$ c4 z eee ■elauisl■ DR a k I i - 44/g. .ilials -b w ��A� As II' ., _ , t , t • ,-er-, __, .i. 1 L4 *Pea rm. - "tz . t mg ne beserrateMtstedi nemewsAae..aaer wes as nrneweeneeeennrnfl_earw .otlersce�Rcrnraty h 4)C(NLCX ee�rMeeraur�en Ti*_- ItuonvN(4wrate eon CBOE_VacLand_010998 Page 3 Subject Photos r► r € ... elk rig ; ,�,I 111 11 It ' . O • i • 1 , • -4_.'' -- ♦ 4 ••. 07/ 23 / 2010 ' . __ PHASE 2 gat_ - i4FIA-04.- , , _ . ,___,4 . -W. I.*. IL.,i_okiiiii. _._,___ i _____..--:: . _ Inamprail, fli _ _ PHASE 1 CBOE_Vacland_010998 Page 4 APPROACHES TO VALUE The value of vacant, non-agricultural land shall be determined by appropriate consideration to the cost, market, and income approaches to value, as required by § 39-1-103(14)(b), C.R.S. Assessors are required to consider, and when applicable, to apply the present worth valuation procedure when using the market approach to value vacant land, § 39-1-103(14)(b), C.R.S. As required by 39-1-104(10.2), C.R.S., the market value is determined by utilizing data from the period of one and one-half years immediately prior to June 30th, 2008. If sufficient comparable valuation data is not available within the eighteen-month time period, the assessor shall use market data from the five year period immediately prior to June 30th, 2008. When appropriate, all sales are to be time adjusted to the appraisal date of June 30th, 2008. Although the appraisal date is June 30, 2008, the physical characteristics are reflective of the property as of January 1, 2010. DEFINITION OF MARKET VALUE: The most probable price, as of a specified date, in cash, or in terms equivalent to cash, or in other precisely revealed terms,for which the specified property rights should sell after reasonable exposure in a competitive market under all conditions requisite to a fair sale, with the buyer and seller each acting prudently, knowledgeably, and for self interest, and assuming that neither is under undue duress." {The Appraisal Institute} DEFINITION OF MARKET PRESENT WORTH DISCOUNTING: A procedure used to convert periodic income, cash flows and reversions into present value. Present value is based on the assumption that benefits received in the future are worth less than the same benefits received now. The objective is to determine the present worth, i.e., the actual (market) value, as of the appraisal date, of the vacant land, not its future value. {The Appraisal Institute} Discounting of vacant land establishes the present worth of vacant land that will not likely sell within one year. The reason for vacant land present worth valuation is to account for the time, in years, necessary to sell an inventory of vacant lots, sites, parcels, or tracts. According to Colorado law,the present worth valuation of vacant land is synonymous with actual or market value. Per 39-1-103(14)(b), C.R.S., the use of present worth shall reflect the anticipated market absorption rate for the lots within such plat, but such time period shall not generally exceed thirty years. After consideration of the cost, market and income approaches to value, the final market value of the property as of June 30th, 2008 is: ASSESSOR'S VALUE VACANT LAND FOR PHASE 1 $9,632 VACANT LAND FOR PHASE 2 $40,000 CBOE_VacLantl 010998 Page 5 Cost Approach The developmental cost method, or cost approach, is used primarily where sales are limited and the land is in transition from agricultural use to residential, or if the lots are not yet fully developed. This method was not used as these lots were fully developed. Income Approach Since there was no data available for the capitalization of ground rents on vacant residential lots, the income approach was not utilized. Market (Sales)Approach Since there was an adequate quantity of qualified sales data available, the direct sales comparison approach was deemed the best method in determining the adjusted sales price. The Weld County Assessor's Office has verified that the comparable sales are arms-length transactions based on review of the Real Property Transfer Declaration, telephone or personal confirmation interviews and physical inspections to confirm property characteristics at the time of sale. Three vacant land sales were found in the area that are comparable based on location and physical attributes. Subdivision Sales Date Sale Price Lot Size Comparable 1 Dove Hill Estates Jul-07 $53,000 6,648 sqft Comparable 2 Dove Hill Estates Dec-07 $44,000 6,320 sqft Comparable 3 Dove Hill Estates Dec-07 $44,000 6,320 sqft Dove Hill Estates had 6 builder to builder sales from March, 2007 through December, 2007. March, 2007 sale was for$54,000. July, 2007 sale was for$53,000. Two sales occurred in September, 2007 for$44,000 each. Two sales occurred in December, 2007 for $44,000 each. There were two improved sales in Phase 1 and four improved sales in Phase 2 from April, 2007 through April, 2008. The average of all 6 improved sales was $195,000 making the mean land allocation of 20%equal to $39,001. Two similar subdivisions with comparable amenities are Riverview Farm and East Meadows in East Greeley. In Riverview Farm,there were 12 sales for $37,500 per lot from January, 2007 through February, 2008. In East Meadows subdivision in East Greeley a sale occurred July, 2007 for 18 lots for $720,000, or $40,000 per lot. Based on the range of lot sales from $44,000 to $54,000 in Dove Hill Estates and bolstered by the land Allocation method of improved sales, the unadjusted selling price for all vacant lots in the Dove Hill Estates subdivision was set at$40,000. CBOE_VacLand_010998 Page 6 For 2009, the premium lots were given an increase of$10,000 per lot as these lots were selling for more prior to 2007. Per Brian Lindsey, owner of Patriarch Builders, lots in Blocks 1, 2 and 6 are larger lots and ideally sell for more money, usually around $10,000 more. These lots back up to open space and have walk out basements. Three of the lots appealed are in these blocks reflecting a lot price of$50,000. The unadjusted selling price of the subject lots are then discounted to account for the developers cost of development. The purpose is to assist a developer by relieving some of the burden of carrying the up-front costs expended in preparing the property for development. The anticipated market absorption rate recognizes the time value of a developer's investment by treating the value of individual subdivision lots like payments in an anticipated future annuity stream. Basically, the market absorption rate discounts the value of the development to the amount that a purchaser of the development would be willing to pay for the entire development on the assessment date. The unadjusted selling price of each lot was determined to be $40,000. A 14% discount rate was used, which was the maximum allowable by the State, and was supported by the level of risk in the market as of June 30th, 2008. The discount rate combines component rates, which are necessary to adequately measure the appropriate return on investment that would be expected by an investor. The Division of Property Taxation provides the safe rate, management rate, and risk rate range for statewide use. Of the 43 total lots in Phase 1, two lots with residential building improvements were sold to end users during our 18 month base period. This equates to an absorption rate of 1.3 lots per year, and a 29 year sell-out for the remaining 38 lots. Using a Present Worth of 1 per Period table, a 29 year absorption rate, coupled with a 14% discount rate and an unadjusted selling price of$40,000 results in a current market value of$9,632 per lot. CBOE_VacLand_010998 Page PW Calculation Discount Rate 14.00% Market Val $40,000.00 Finance Adj $0.00 Time Adj $0.00 Char Adj $0.00 PW Adj Sales Price $40,000.00 Unadjusted Selling Price(UASP) $40,000.00 Soft Cost $0.00 Hard Cost $0.00 PW Unadj Sales Price Less Dev Cosi $40,000.00 Parcels Sold 2 Collection Period 18 Absorption Per Month 0.1111111111111 Calendar Year Months 12 Absorption Per Year 1.3333333333332 Parcels Unsold 38 Absorption Per Year(Step 8d) 1.3333333333332 Absorption Period Remaining (yrs) 29.00 Adjusted Sales Price(ASP) $40,000.00 Absorption Period 29.00 Adjusted Sales Price Per Yr $1,379.31 Present Worth of One Per Period 6.983037 Actual Value $9,631.77 Therefore, the total market value is: $40,000 per lot multiplied by 7 lots equals $280,000 $50,000 per premium lot multiplied by 3 lots equals $150,000 $9,632 per discounted lot multiplied by 35 lots equals $337,120 For a total value of$767,120 CBOE_VacLantl 010998 Page B REAL AND PERSONAL PROPERTY NOTICE OF DETERMINATION Christopher M. Woodruff Date of Notice: 6/22/2010 Weld County Assessor 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 Office Hours: 8:00 AM - 5:00 PM SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R2214103 2010 0167 LAS DHE L18 BLK7 DOVE HILL ESTATES re FIRST NATIONAL BANK 32 155E BOARDWALK No. 200 6 PO BOX 272500 FORT COLLINS, CO 80527 ce O a a. ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR ACTUAL VALUE AFTER TO REVIEW REVIEW VACANT LAND 40,000 40,000 TOTAL $40,000 440,000 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: LN03-A review of the market value of land in your neighborhood indicates your land valuation is correct. 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 bLor ask your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional inform ions _: �—' 1-i C.:- FACILITY SOLUTIONS v� a 628 MAIN STREET WINDSOR CO 80550 15-DPT-AR 2010-1654 PR 207-08/08 NOD# 7984 I 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 10TH Street, P.O. Box 758 Greeley, Colorado 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 11. 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 9`"Avenue and 9'" Street, P.O. Box C Denver, CO 80203 Greeley, Colorado 80632 (303) 866-5880 Telephone (970) 356-4000 Ext. 4520 www.dola colorado.gov/baa 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, 2008? (Your opinion of value in terms of a specific dollar amount is required forsakprQperty pursuant to § 39-8-106(1.5), C.R.S.) What is the basis for your estimate of value r your reason for requesting a review? (Please attach additional sheets as necessary and any s pporting documentation, i.e., comparable sales, rent roll, original installed cost, appraisal, etc.) ATTESTATION I, t e u J.ij ned o n r I :gent' of the property identified above, affirm t at t statements co an -.." -rd �: /:chments hereto are true and complete. Signature Telephone Number Date 'Attach letter of authorization signed by property owner. 15-OPT-AR PR 207-08/08 NOD#.7984 REAL AND PERSONAL PROPERTY NOTICE OF DETERMINATION Christopher M. Woodruff Date of Notice: 6/22/2010 Weld County Assessor 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 Office Hours: 8:00 AM -5:00 PM SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R2210303 2010 0160 LAS DHE L10 BLK4 DOVE HILL ESTATES w FIRST NATIONAL BANK z 155E BOARDWALK No. 200 o PO BOX 272500 FORT COLLINS, CO 80527 re a. O ce a ASSESSOR'S VALUATION ACTUAL VALUE PRIOR PROPERTY CLASSIFICATION TO ACTUAL VALUE AFTER REVIEW REVIEW VACANT LAND 40,000 40,000 TOTAL $40,000 S40,000 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: LN03-A review of the market value of land in your neighborhood indicates your land valuation is correct. 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 bjll,,or ask your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional inforrl ',lion TA tfl r-) r; ; ''1-1 FACILITY SOLUTIONS c cn r 628 MAIN STREET WINDSOR CO 80550 15•DPT-AR PR 207-08/08 NOD# 7955 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10`h 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 10T9 Street, P.O. Box 758 Greeley, Colorado 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 11. 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 9`"Avenue and 9`h Street, P.O. Box C Denver, CO 80203 Greeley, Colorado 80632 (303) 866-5880 Telephone(970) 356-4000 Ext. 4520 www.dola.colorado.qov/baa 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, 2008? (Your opinion of value in terms of a specific dollar amount is required f {ferty pursuant to § 39-8-106(1.5), C.R.S.) $ �llr �U What is the basis for your estimate of valu4 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.) I , ATTESTATION I, he e igned -r o agent' of the property identified above, affirm t at th statements c' nta' jay, in an . -ttachments hereto are true and complete. rr , Si. -t e Telephone Number Date Attach letter of authorization signed by property owner. 15-OPT-AR PR 207-08/08 NOD St 7955 REAL AND PERSONAL PROPERTY NOTICE OF DETERMINATION Date of Notice: 6/22/2010 Christopher M. Woodruff Telephone: (970) 353-3845 or(72O) 652-4255 Weld County Assessor 1400 N 17th Ave Fax: (970) 304-6433 Greeley, CO 80631 E-mail: appeals@co.weld.co.us Office Hours: 8:00 AM - 5:00 PM www.co.weld.co.us LEGAL DESCRIPTION/ SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA PHYSICAL LOCATION R2210703 2010 0160 LAS DHE L14 BLK4 DOVE HILL ESTATES re FIRST NATIONAL BANK z 155E BOARDWALK No. 200 o PO BOX 272500 it FORT COLLINS, CO 80527 re W a O a ASSESSOR'S VALUATION ACTUAL VALUE PRIOR PROPERTY CLASSIFICATION TO ACTUAL VALUE AFTER REVIEW REVIEW VACANT LAND 40,000 40,000 TOTAL $40,000 $40,000 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: LNO3-A review of the market value of land in your neighborhood indicates your land valuation is correct. 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. . CP Please refer to the reverse side of this notice for additional inforOfdtiorf-5 �.. . L '11 C _ c Ul L FACILITY SOLUTIONS D_ 628 MAIN STREET c") �-�_< WINDSOR CO 80550 Cl) Cgs-OPT-AR PR 207-08/08 NOD k.7951 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10`" 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 10TH Street, P.O. Box 758 Greeley, Colorado 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 11. 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 9`"Avenue and 9th Street, P.O. Box C Denver, CO 80203 Greeley, Colorado 80632 (303) 866-5880 Telephone (970) 356-4000 Ext. 4520 www.dola.colorado.qov/baa 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, 2008? (Your opinion of value in terms of a specific dollar amount is required foyraAl,property pursuant to § 39-8-106(1.5), C.R.S.) What is the basis for your estimate of valt(e 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.) ATTESTATION I, e u f e'-igned w/ . -' agent' of the property identified above, affirm at t statements co tai nji in an .ttachments hereto are true and complete. Si u e Telephone Number Date 'Attach letter of authorization signed by property owner. 15-DPT-AR PR 207-08/08 NOD# 7951 REAL AND PERSONAL PROPERTY NOTICE OF DETERMINATION Christopher M. Woodruff Date of Notice: 6/22/2010 Weld County Assessor 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 Office Hours: 8:00 AM - 5:00 PM SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R2210503 2010 0160 LAS DHE L12 BLK4 DOVE HILL ESTATES ce FIRST NATIONAL BANK 3 155E BOARDWALK No. 200 o PO BOX 272500 FORT COLLINS, CO 80527 w a 0 a ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR ACTUAL VALUE AFTER TO REVIEW REVIEW VACANT LAND 40,000 40,000 TOTAL $40,0011 $40,000 The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest. The Assessor's determination of value after review is based on the following: LNO3-A review of the market value of land in your neighborhood indicates your land valuation is correct. If you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equalization for further consideration, § 39-8-106(1)(a), C.R.S. The deadline for filing real property appeals is July 15. The deadline for filing personal property appeals is July 20. The Assessor establishes property values. The local taxing authorities (county, school district, city, fire protection, and other special districts) set mill levies. The mill levy requested by each taxing authority is based on a projected budget and the property tax revenue required to adequately fund the services it provides to its taxpayers. The local taxing authorities hold budget hearings in the fall. If you are concerned about mill levies, we recommend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional inforolatiorl `'.•. r U1 t , FACILITY SOLUTIONS I�. `l 628 MAIN STREET C '77 7001 WINDSOR CO 80550 (11 `lit-OPT-AR PR 297-08/08 NOD$.7953 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10`' 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 10TH Street, P.O. Box 758 Greeley, Colorado 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 11. 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 9`"Avenue and 9th Street, P.O. Box C Denver, CO 80203 Greeley, Colorado 80632 (303) 866-5880 Telephone (970) 356-4000 Ext. 4520 www.dola.colorado.gov/baa 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, 2008? (Your opinion of value in terms of a specific dollar amount is requiredceaF,property pursuant to § 39-8-106(1.5), C.R.S.) $ (�J�b What is the basis for your estimate of vale 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.) ATTESTATION I, he .i.ned o - :r -gent' of the property identified above, affirm t t the tatements c.ntain y�yy:' -nd . = 9 achments hereto are true and complete. Si:lure Telephone Number Date Attach letter of authorization signed by property owner. 15-DPT AR PR 207-08/08 NOD 8:7953 REAL AND PERSONAL PROPERTY NOTICE OF DETERMINATION Christopher M. Woodruff Date of Notice: 6/22/2010 Telephone: (970) 353-3845 or(720) 652-4255 Weld County Assessor 1400 N 17th Ave Fax: (970) 304-6433 Greeley, CO 80631 E-mail: appeals@co.weld.co.us Office Hours: 8:00 AM - 5:00 PM www.co.weld.co.us LEGAL DESCRIPTION/ SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA PHYSICAL LOCATION R2210803 2010 0160 LAS DHE L15 BLK4 DOVE HILL ESTATES Z FIRST NATIONAL BANK 3 155 E BOARDWALK No. 200 FORT COLLINS, CO 80527 W a O re a ASSESSOR'S VALUATION ACTUAL VALUE PRIOR PROPERTY CLASSIFICATION ACTUAL VALUE AFTER TO REVIEW REVIEW VACANT LAND 40,000 40,000 TOTAL $40,000 $40,000 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: LNO3-A review of the market value of land in your neighborhood indicates your land valuation is correct. 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 . c, rrn i. I., c ' )n FACILITY SOLUTIONS -�- 628 MAIN STREET r' I rl WINDSOR CO 80550 cn 5-DPT-AR PR 207-08/08 NOD#.7950 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10`h 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 10TH Street, P.O. Box 758 Greeley, Colorado 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 11. 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 9`"Avenue and 9th Street, P.O. Box C Denver, CO 80203 Greeley, Colorado 80632 (303) 866-5880 Telephone (970) 356-4000 Ext. 4520 www.dola colorado.gov/baa 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. I PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2008? (Your opinion of value in terms of a specific dollar amount is required fgna�gcoiperty pursuant to § 39-8-106(1.5), C.R.S.) $ � t) C+� What is the basis for your estimate of valud 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.) ATTESTATION I, the .-rsigned . / -rj. a;-nt' of the property identified above, affirm at a statements c+nta1/f. rein an chments hereto are true and complete. C> 7 //\\ Si:-.lure Telephone Number Date" Attach letter of authorization signed by property owner. 15-DPT-AR PR 207-08/08 NOD 8:7950 REAL AND PERSONAL PROPERTY NOTICE OF DETERMINATION Christopher M. Woodruff Date of Notice: 6/22/2010 Telephone: (970) 353-3845 or(720) 652-4255 Weld County Assessor 1400 N 17th Ave Fax: (970) 304-6433 Greeley, CO 80631 E-mail: appeals@co.weld.co.us Office Hours: 8:00 AM - 5:00 PM www.co.weld.co.us LEGAL DESCRIPTION/ SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA PHYSICAL LOCATION R2210603 2010 0160 LAS DHE L13 BLK4 DOVE HILL ESTATES z FIRST NATIONAL BANK 3 155 E BOARDWALK No. 200 FORT COLLINS, CO 80527 ce a cc a ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR ACTUAL VALUE AFTER TO REVIEW REVIEW VACANT LAND 40,000 40,000 TOTAL $40,000 $40,000 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: LNO3-A review of the market value of land in your neighborhood indicates your land valuation is correct. 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 informations---.3, cri CD FACILITY SOLUTIONS 628 MAIN STREET i`^ WINDSOR CO 80550 •• 'r'-� Cu u-) 1J DPT-AR PR 207-08/08 NOD# 7952 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10`" 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 10TH Street, P.O. Box 758 Greeley, Colorado 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 11. 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 9`"Avenue and 9th Street, P.O. Box C Denver, CO 80203 Greeley, Colorado 80632 (303) 866-5880 Telephone (970) 356-4000 Ext. 4520 www dola.colorado.qov/baa 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, y§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, 2008? (Your opinion of value in terms of a specific dollar amount is required for eaLprgperty pursuant to § 39-8-106(1.5), C.R.S.) What is the basis for your estimate of val 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.) ATTESTATION I••ntai ef I-rrein e d -� fechme of the eheretto property e true and complete.identified e, affirm t at th statements S =•-ture Telephone Number Date 1 Attach letter of authorization signed by property owner. 15-OPT-AR PR 207-08/08 NOD b 7952 REAL AND PERSONAL PROPERTY NOTICE OF DETERMINATION Christopher M. Woodruff Date of Notice: 6/22/2010 Telephone: (970) 353-3845 or (720) 652-4255 Weld County Assessor 1400 N 17th Ave Fax: (970) 304-6433 Greeley, CO 80631 E-mail: appeals@co.weld.co.us Office Hours: 8:00 AM -5:00 PM www.co.weld.co.us LEGAL DESCRIPTION/ SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA PHYSICAL LOCATION R2210403 2010 0160 LAS DHE L11 BLK4 DOVE HILL ESTATES 2 FIRST NATIONAL BANK 3 155 E BOARDWALK No. 200 FORT COLLINS, CO 80527 cc W a O a. ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR ACTUAL VALUE AFTER TO REVIEW REVIEW VACANT LAND 40,000 40,000 TOTAL S40,000 S40,000 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: LNO3-A review of the market value of land in your neighborhood indicates your land valuation is correct. 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. • p.� Please refer to the reverse side of this notice for additional inforrpl; tionu 'J y • FACILITY SOLUTIONS ° H:4 628 MAIN STREET C '77 u) WINDSOR CO 80550 15-DPT-AR PR 207-08/08 NOD# 7954 I APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10'"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 10TH Street, P.O. Box 758 Greeley, Colorado 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 11. 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 9`"Avenue and 9`" Street, P.O. Box C Denver, CO 80203 Greeley, Colorado 80632 (303) 866-5880 Telephone(970) 356-4000 Ext. 4520 w vw.dola colorado.gov/baa 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 I What is your estimate of the property's value as of June 30, 2008? (Your opinion of value in terms of a specific dollar amount is required for al ro erty pursuant to § 39-8-106(1.5), C.R.S.) What is the basis for your estimate of value or your reason for requesting a review? (Please attach additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent roll, original installed cost, appraisal, etc.) I / / ATTESTATION I I, i �,)i ed own: .: t' of the property identified above, affirmttttements - don : , p,Er -nts hereto are true and complete. Silirre Telephone Number Date 1 Attach letter of authorization signed by property owner. 5-OPT-4R PR 207-08/08 NOD R 7954 FACILITY SO[ 1O N!_: July 13, 2010 Weld County Board of Equalization P.O. Box 758 Greeley, Colorado 80632 Re: Appeal for Dove Hill Estates, LaSalle, Colorado—35 Lots—List Attached Please find attached our previous submittals to the Weld County Assessor's Office for property tax protest. We would like appear before the Board for a further determination of this property. S. rely, at y A ott Office anag Enclosed: 1. Agent Authorization (Limited Power of Attorney) 2. Protest submitted to the Weld County Assessor a LIMITED POWER OF ATTORNEY 1/We, F(d`S AJg*tcn 844k , hose address is j(SS 5. Deaf d (G? S A I{-e_ R#•, ('e((;k5 'OSA e "Principal") do hereby designate Facility Solutions, LLC, whose address is 628 Main Street. Windsor, CO 80550, (the "Agent") as my/our attorney-in-fact and agent for the limited purpose set forth herein: TO ACT ON PRINCIPAL'S BEHALF AND IN PRINCIPAL'S NAME IN THE FILING AND PURSUIT OF PROTESTS AND/OR APPEALS OF THE COUNTY ASSESSOR'S VALUATION(S) FOR THE PROPERTY/PROPERTIES LISTED BELOW, TO ADVOCATE FOR AND AGREE TO A REVISED VALUATION FOR SAID PROPERTY/PROPERTIES AND, IF APPROPRIATE, TO PURSUE ABATEMENT OF TAXES PAID BY PRINCIPAL IN PREVIOUS YEARS FOR SAID PROPERTY/PROPERTIES. This Power of Attorney applies to assessments for the following parcel number(s): 3a-e- cittgGhe? 14,¢rlQ,k4cbnM1s Principal hereby grants Agent full power and authority to do everything necessary in exercising the powers herein granted as fully as Principal might or could do personally, with full power of substitution or revocation hereby ratifying and confirming all that Agent shall lawfully do or cause to be done by virtue of this power of attorney and the powers herein granted. This Limited Power of Attorney shall not be affected by Principal's disability or by the dissolution of Principal as an entity. This Limited Power of Attorney shall expire 10 -1 , 20 /o. Sf IN WITNESS WHEREOF, Principal has executed this Limited Power of Attorney this I day of J wr-a_ ,20 /O . g(fis-EiMO ( a k Principal STATE OF COLORADO ) ) ss. COUNTY OF wOLb ,Sr The forgoing Limited Power of Attorney was acknowledged before me this day of L r•-t. , 20 IC , by I`-tik2 f11chois • Witness my hand and official Seal: ",rµ1eS a!uo,, `• My Commission Ex '•- HM�� 2 '415- ncutaA:), scknectis 1 Notary Public NT•. B\-\G to % Cod "Z g60e;4, �Ssion Expires SUBDIVISION PROPERTY TAX VALUATION WORKSHEET Date: 28-May-10 Property Owners First National Bank Agents: Facility Solutions (Authorization Attached) FINISHED LOTS Mailing Address: PO Box 99,Windsor Co 80550 Contact Points Chris Ruff: 970-674-1313 Subdivision Dove Hill Estates Location City LaSalle County Weld Parcels Numbers: Attached Client Nbr of Lots: 35 Vacant Dev Lots 35 As of Jan 1,2010 Source Jefferson County 20% $ 31,000 Retail Value Range $0 $0 Listings: 22% $ 34,100 Avg Market Value $32,000 Median Sales Price all 18 Months= $155,000 25% $ 38,750 This project has stalled. 6 Mos 12 Mos 18 Mos Jan 08-Jun 08 Jul 07-Jun 08 Jan 07-Jun 08 Sales 1 I I Source: County Records and Homebuilders Research Discussion: No sales in the base period. Based on Based on Based on 6 Months 12 Months 18 Months Absorption Rate(sales) 2 1 0.67 Source: County Records and Homebuilders Research Based on Based on Based on 6 Month 12 Month 18 Months Absorption Period(sales) 18 35 53 Years Concluded Absorption 30 Years Discussion: An absorption period of 30 years is easily supported by the actual results. Valuation Process Discount Rate 14.00% Discount Factor 7.0027 Based on 30 Years absorption Market Value $32.000 $1,067 Annual Cash Flows Absorption Period 30 7.0027 Discount Factor $7,470 Individual FINISHED Lot Value $9,632 Assessor's Value $2,162 Decrease Conclusion/Discussion Based on the data,we believe the finished lots are worth$7,470 per lot. ta;r16 CLERK TO THE BOARD PHONE (970) 356-4000 EXT 4226 FAX: (970) 352-0242 WEBSITE: www.c0) 35 -0242 co.us 915 10TH STREET P.O. BOX 758 GREELEY, COLORADO 80632 COLORADO July 23, 2010 FIRST NATIONAL BANK 155E BOARDWALK No. 200 PO BOX 272500 FORT COLLINS, CO 80527 Parcel No. and Account No.: - SEE ATTACHED Dear Petitioner(s): The Weld County Board of Equalization has set a date of July 30, 2010, at or about the hour of 2:00 PM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Centennial Center, First Floor Hearing Room, 915 10th Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5, 2010, and mailed to you on or before August 10, 2010. Because of the volume of cases before the Board of Equalization, all cases shall be limited to 15 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position. This may include evidence that similar homes in your area are valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented evidence as indicated above, the Board will have no choice but to deny your appeal. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request directly to the Assessor's Office by fax (970) 304-6433, or if you have questions, call (970) 353-3845. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information, at which time the Assessor will make the data available within three (3) working days, subject to any confidentiality requirements. 2010-1654 AS0076 FIRST NATIONAL BANK-VARIOUS Page 2 Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information, please call me at your convenience. Very truly yours, BOARD OF EQUALIZATION Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor FACILITY SOLUTIONS 628 MAIN STREET WINDSOR, CO 80550 PARCEL#: 105506229018 ACCOUNT#: R2214103 PARCEL#: 096131326010 ACCOUNT#: R2210303 PARCEL#: 096131326014 ACCOUNT#: R2210703 PARCEL#: 096131328005 ACCOUNT#: R2212003 PARCEL#: 096131326012 ACCOUNT#: R2210503 PARCEL#: 096131323002 ACCOUNT#: R2203103 PARCEL#: 096131323028 ACCOUNT#: R2205703 PARCEL#: 096131326015 ACCOUNT#: R2210803 PARCEL#: 096131326013 ACCOUNT#: R2210603 PARCEL #: 096131326011 ACCOUNT#: R2210403 2010-1654 AS0076 Hello