HomeMy WebLinkAbout20101638.tiff 4 CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4226
FAX: (P
P.. O0) BOX BOX 274528
58
GREELEY, COLORADO 80632
�i
COLORADO
July 29, 2010
SEARS HAL MARSHALL REVOCABLE TRUST
1131 EMERALD BAY
LAGUNA BEACH, CA 92651
RE: THE BOARD OF EQUALIZATION, 2010, WELD COUNTY, COLORADO - DENY
PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE
DESCRIPTION OF PROPERTY:ACCOUNT#: R3287204 PARCEL#: 080718414003-WIN 4JF
L3 JACOBY FARM 4TH FG
Dear Petitioner:
On July 29, 2010,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 petition of appeal of the County Assessor's valuation of your property described above,for the
year 2010.
The Board of Equalization found that the evidence presented at the hearing clearly
supported the value placed upon your above described property by the County Assessor. Such
evidence indicated the value was reasonable, equitable, and derived according to the
methodologies, percentages, figures and formulas dictated to the Weld County Assessor by law.
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
$776,220 $776,220
CC ; C/4J ��T //eller)
A5- Omrifley� ex;e ya9Ageo 2010-1638
AS0076
SEARS HAL MARSHALL REVOCABLE TRUST - R3287204
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 other evidence. He
2010-1638
AS0076
SEARS HAL MARSHALL REVOCABLE TRUST- R3287204
Page 3
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.
Vee�truly yours,
dd s i r(
Esther E. Gesick
Deputy Clerk to the Board
cc: Christopher Woodruff, Assessor
2010-1638
AS0076
BOE SUMMARY SHEET
Account Number: R3287204 Parcel Number: 080718414003
SEARS HAL MARSHALL REVOCABLE TRUST
1131 EMERALD BAY
LAGUNA BEACH, CA 92651
HEARING DATE: 7/29/2010, AT 10:30 AM X '
HEARING ATTENDED? (Y/0 NAME: s
AGENT NAME: \\\
APPRAISER NAME: NRL 14.4. 9axk_
DECISION
ACTUAL VALUATION
APPROVE BY SET BY
ASSESSOR BOARD
TOTAL ACTUAL VALUE 776,220 77 aao
COMMENTS:
MOTION BY 5 l- TO
SECONDED BY (f(b Garcia -- N)
Rademacher-- N)
Failed to prove appropriate value Conway -- N)
No comparables given Kirkmeyer-- /N)
Assessor's value upheld Long -- /N)'XCusec
Other:
RESOLUTION NO. 2010-1638
M:\BOE\SUMMARY.dotx
Weld County
CHRISTOPHER M. WOODRUFF COUNTY ASSESSOR
BRENDA DONES, DEPUTY ASSESSOR
VALUATION REPORT
OF
COMMERCIAL PROPERTY
FOR
County Board of Equalization
SEARS HAL MARSHALL REVOCABLE TRUST
PETITIONER
vs.
WELD COUNTY ASSESSOR'S OFFICE
RESPONDENT
Parcel Number: 0807-18-4-14-003
Schedule Number: R3287204
Log Number: 2668
Date: 07/29/10
Time: 10:30 am
Board:
PREPARED BY
CHARLES JACK
Signature Date
Signature Date
ASSESSOR'S OFFICE STAFF APPRAISER
CBOE_COMM_01099
22010' /th3 g Page
SALIENT FACTS AND CONCLUSIONS
Purpose of Appraisal To determine Market Value as of 1/1/10 based on an
appraisal date of 6/30/08.
Property Rights Appraised Unencumbered fee simple interest.
Location 1640 MAIN ST
WINDSOR
Land Area 8,109 Square Feet
Zoning
Property Type Commercial
Mini Lube Garage
Year Built 2004
Quality Good
Class Masonry
Number of Stories 1
Improvement Sq. Ft. 2,283
Basement Unfinished Sq. Ft. 2,283
Value Indications:
Market Approach $799,000
Income Approach $784,400
Final Value $776,220
CBOE_COMM_01099':
Page
SUBJECT PHOTO
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Subject Sketch
32.0'
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84.78 SFth Rest I 169.89 SF Q)
9.3' 6.0' 16.7'
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2282.67 SF
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CBOE_COMM_01
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MARKET APPROACH SUMMARY
Real Property for the tax year 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, the period
of five years immediately prior to July 1, 2008 shall be utilized to determine the level of 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. Sales
used to establish a market value for the tax year 2009 are from January 1, 2007 through June 30,
2008. Pursuant to 39-1-104 (10.2)(c) C. R. S., the Assessor may utilize sales five years prior to July
1, 2008 to establish the proper value. 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 $350.00 square foot or $799,000 accurately reflects the market value of
the subject property.
VALUE As INDICATED BY THE MARKET APPROACH
$799,000
CBOE_COMM_010'.
PagE
COMPARATIVE SALES APPROACH
SALE# Subject 1 2 3 4
Use Mini Lube Garage Mini Lube Garage Mini Lube Garage Mini Lube Garage Mini Lube Garage
Parcel # 80718414003 80720203002 95914403009 95924401006 147105310002
Address 1640 Main St 1231 Main St 2470 35 Av Ct 3303 23 Av 1160 Dexter St
Windsor Windsor Greeley Evans Fort Lupton
Grantor RLW II LLC Creamer H&H Holdings SLG Equities
Grantee OCH Partners Suds City Fawsome RPM Properties
Sale Date 11/15/2007 6/7/2004 8/25/2006 9/29/200E
Adjusted Sale Assessor's Value
Price $776,220 $500,000 $945,000 $625,000 $1,200,00(
Land Size 8,109 pad 26,049 18,169 16,965 45,99i
L/B Ratio 3.55 18.66 7.95 8.55 19.9E
Bldg SF 2,283 1,396 2,286 1,984 2,30E
Effective age 2004 1995 1997 1998 200E
Sale PSF $340.00 $358.16 $413.39 $315.02 $520.6(
Comps Range: $315.02 -$520.60
Comps Avg: $401.79
Comps Median: $385.77
Value per Market Sales $350.00.00 x 2,283 sq ft= $799,000
CBOE_COMM_0109c
Page
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4.
77 o :,
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V� Service Area
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First Floor 1396.1 SF r
easement Storage 936 4 SF
COMPARABLE SALE # 1 COUNTY: WELD
ACCOUNT R1066096 PARCEL NUMBER: 080720203002
PRIMARY OCC: Mini Lube Garage PERCENT: 100%
SECONDARY OCC: PERCENT:
THIRD OCC: PERCENT:
ADDRESS: 1231 MAIN ST WINDSOR
RECEPT NUMBER: 3520105 SALE DATE: 11/15/2007
GRANTOR: RLW II LLC SALE PRICE: $500,000
GRANTEE: OCH PARTNERS TWO LLC ADJ SALE PRICE:
YEAR BUILT: 1995 CLASS: D
EFFECTIVE AGE: LAND/BLDG RATIO: 18.66
LAND SIZE (SF): 26,049 LAND VALUE: $ 130,245
BLDG SIZE (SF): 1 ,396 IMPS PRICE/SF: $264.86
WALL HEIGHT: 11 SALE PRICE/SF: $358. 16
STORIES: 1 INTEREST RATE:
BSMNT SIZE: 936 DOWN PYMT:
BSMNT FINISH: LOAN TERM (YRS):
ZONING: WIN GC POINTS PAID:
QUALITY: Average
COMMENTS:
CBOE_COMM_01
Mini Lube Garage
First Floor 2286 0 sq ft
16 t Basement 1560 0 sq ft
Built 1997
Orrice 16'W H �..-
'40
it'1 ' • �'j• ,, i310egrt 52a
1 Slot one
1 a Roan Masony
1 ft1� r „O' 87 D sq e 3 - flays 1560.0 sq R. Enclosure
c Over
OW�� �x� ( • _ Retail., Basement 1560.0 sq rt 30a
Nang
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Earns1 is
' - TlI'' tt5Dsq tt 520' 1011'
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42
COMPARABLE SALE #2 COUNTY: WELD
ACCOUNT NUMBER: R6844397 PARCEL NUMBER: 095914403009
PRIMARY OCC: Mini Lube Garage PERCENT: 100%
SECONDARY OCC: PERCENT:
THIRD OCC: PERCENT:
ADDRESS: 2470 35 AVCT GREELEY
RECEPT NUMBER: 3188302 SALE DATE: 6/7/2004
GRANTOR: CREAMER SHAWNA L & SALE PRICE: $1 ,350.000
GRANTEE: SUDS CITY LLC ADJ SALE PRICE: $ 945.000
YEAR BUILT: 1997 CLASS: C
EFFECTIVE AGE: LAND/BLDG RATIO: 7.95
LAND SIZE (SF): 18, 169 LAND VALUE: $90.809
BLDG SIZE (SF): 2,286 IMPS PRICE/SF: $373.66
WALL HEIGHT: 16 SALE PRICE/SF: $413.39
STORIES: 1 INTEREST RATE:
BSMNT SIZE: 1 .560 DOWN PYMT:
BSMNT FINISH: LOAN TERM (YRS):
ZONING: POINTS PAID:
QUALITY: Average
COMMENTS: THREE BAY MINI LUBE GARAGE WITH BASEMENT STORAGE UNDER THE SERVICE
GARAGE AREA. BUYER OWNS CHAMPION CAR WASH NEXT DOOR.
CBOE_COMM_01
Pa
Asphalt paving 9,968 sr
.
:t Mini Lube i Concrete 320 0 SF ia
Class C 4 v 64 0' Stairs
Blt 1998
19'*11 Office
space heat 4 3 bays
(6)GH Doors(10x12) o
In
ata�
to
- Waiting area
F _I 1 Concrete 7160 SF o
(Ui it rr i y� it
`y; .
wit( - g Li� 1 r t
��1 6aa
,,�, 1R , First Floor 1964 0 SF
Basement Storage 1984.0 SF
23rd AVE
_ - ,_ ,, y
5 .9. 4000
:- _ swMd ey tqe. w
COMPARABLE SALE #3 COUNTY: WELD
ACCOUNT R7443998 PARCEL NUMBER: 095924401006
PRIMARY OCC: Mini Lube Garage PERCENT: 100%
SECONDARY OCC: PERCENT:
THIRD OCC: PERCENT:
ADDRESS: 3303 23 AV EVANS
RECEPT NUMBER: 3417132 SALE DATE: 8/25/2006
GRANTOR: H & H HOLDINGS INC. SALE PRICE: $925,000
GRANTEE: FAWSOME LLC ADJ SALE PRICE: $625.000
YEAR BUILT: 1998 CLASS: C
EFFECTIVE AGE: LAND/BLDG RATIO: 8.55
LAND SIZE (SF): 16.965 LAND VALUE: $ 101 ,790
BLDG SIZE (SF): 1,984 IMPS PRICE/SF: $263.71
WALL HEIGHT: 19 SALE PRICE/SF: $315.02
STORIES: 1 INTEREST RATE:
BSMNT SIZE: 1 ,984 DOWN PYMT:
BSMNT FINISH: LOAN TERM (YRS):
ZONING: POINTS PAID:
QUALITY: Good
COMMENTS:
CBOE_COMM_01
Pag
72 0
20.0' i 16 0'
RRI
RR
Waiting Area
a r. 640 0' I Storage
b Io 5120' '
Cl Ira
A] A , Im (Future Plt)
IA
I I
20.0' I I 16.0'
720'
First Floor 2304.0'
COMPARABLE SALE #4
COUNTY: WELD
ACCOUNT NUMBER: R4561906 PARCEL NUMBER: 147105310002
PRIMARY OCC: Mini Lube Garage PERCENT: 100%
SECONDARY OCC: PERCENT:
ADDRESS: 1160 DEXTER ST., FORT LUPTON
RECEPT NUMBER: 3427135 SALE DATE: 9/29/2006
GRANTOR: SLG EQUITIES INC SALE PRICE: $1,225,000
GRANTEE: RPM PROPERTIES RLLP ADJ SALE PRICE: $1,200,000
YEAR BUILT: 2006 CLASS: C
EFFECTIVE AGE: LAND/BLDG RATIO: 19.96
LAND SIZE (SF): 45.997 LAND VALUE: $ 132,471
BLDG SIZE (SF): 2.305 IMPS PRICE/SF: $463. 13
WALL HEIGHT: 13 SALE PRICE/SF: $520.60
STORIES: I INTEREST RATE:
BSMNT SIZE: DOWN PYMT:
BSMNT FINISH: LOAN TERM (YRS):
ZONING: POINTS PAID:
QUALITY: Average
COMMENTS: Two bay mini lube garage with basement storage. Buyer owns several other Grease Monkey's.
According the buyer the purchase price included $25,000 PP.
CBOE_COMM_01
Pagi
INCOME APPROACH SUMMARY
The Weld County Assessor has appropriately considered the Income Approach to value for the
Subject property on appeal.
The Assessor has gathered income information from local commercial properties for the time frame of
January 1, 2007 through June 30, 2008. This information, combined with statewide and industry-wide
data, is used to determine typical income and expenses for various property types.
In conclusion of the Income Approach, the Assessor has considered both groups of data and has put
more emphasis on the local factors and data than the state and national data. This information was
then applied to the subject property to arrive at an appropriate Income Approach Value.
TOTAL INCOME VALUE FOR THE SUBJECT PROPERTY
$784,400
CBOE_COMM_010991
Page 1:
ACTUAL INCOME WORKSHEET
Parcel : 080718414003
Name: Grease Monkey
Address : 1640 Main St, Windsor
Bldg Sq Ft Use No of Units
2 ,283 Mini Lube 1
Effective
Tax Rate Mill Rate Assm't Rate Tax Rate
0 . 093162 0 . 29 0.027017
Avg Rent PSF
Subject Annual
Rents Annual Rent per Gross
Area Rent PSF Month Income
Main Fir
PSF 2,283 $39.42 $7 , 500 $90,000
LessVacancy & Expenses
Vacancy 10% $9 , 000
EGI $81 ,000
Expenses
mgmt 5% $4 , 050
R/R 3% $2 ,430
Net Income 32.._64 $74, 520
Net Income/Overall Cap Rate = Property Value
Property Value
Value Per S Ft
Estimate Property Value 0 . 095 $784,421 $343 . 59
Rounded $784,400 $343.58
CBOE_COMM_0
Pac
CONCLUSION
Real property for tax year 2009 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 is 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 considered
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$776,220 , most accurately reflects the value of the subject property in Weld
County for the 2008 tax year.
MARKET APPROACH INCOME APPROACH COST APPROACH
$799,000 $784,400 n/a
ASSESSOR'S VALUE
$776,220
CBOE_COMM_01099E
Page 14
.e,#.Y.C h�,q 00.XC ha.,,,.
a:" REAL AND PERSONAL PROPERTY , i�� .
NOTICE OF DETERMINATION F
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
R3287204 2010 0437 WIN 4JF L3 JACOBY FARM 4TH FG
1640 MAIN ST
cc WINDSOR, CO
ww SEARS HAL MARSHALL REVOCABLE TRUST
0 1131 EMERALD BAY
LAGUNA BEACH, CA 92651
tr
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re
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ASSESSOR'S VALUATION
ACTUAL VALUE PRIOR
PROPERTY CLASSIFICATION ACTUAL VALUE AFTER
TO
REVIEW
REVIEW
COMMERCIAL 817.300 776;220
.DTAL 5S 17,3110 X776,2211
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.
N,
a
EPEE I ' _ -�r
JUL 15 2010 ` 72.,
2010-1638 WELD COUNTY H�z SSd t F 1y5-DP1 I'll --e
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GREELEY, COLORADO 4bDd9 `
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'"a4,,,,,.,,��w`J`` County Board of Equalization Hearings will be held from Y �
aoc•-t,o`MP,F
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.aov/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.
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 realprope pursuant to § 39-8-106(1.5), C.R.S.)
What is the basis for your estimate of va ue o 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.)
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I the undersign- ow or agent f the property identified above, affirm that the statements
co'tained here n• *n achm its hereto are true and complete. /
- / i
Si nature / Telephone Number Date EcEivED
- (2a/ /'1/ -7
JUL 15 2010
C-C)- -r44-r= L(--z=1 -"(f_ 72. v"27/-_-
by owner. WELD COUNTY AjESSOR
Attach letter of authorization signed
propertyGREELEY, COLORADO
I 5-DPT-AR
PR 207-08108 I
NOD 1t 803
Grease Monkey#728
Jan-Dec 08 %of Income Jan-Dec 09 %of Income Jan-Mar 10 %of Income
Ordinary Income/Expense
Income
Gross Sales 484,542.94 106.56% 499,874.96 107.85% 121,440.08 107.77%
Discounts&Gift Certificates -18.03 -0.0% -119.75 -0.03% 0.00 0.0%
Coupons -24,750.30 -5.44% -29,008.35 -6.26% -5,951.85 -5.28%
Fleet Discounts -1,226.80 -0.27% -3,072.99 -0.66% -1,287.08 -1.14%
Customer Discount -3,575.45 -0.79% -4,066.68 -0.88% -1,514.62 -1.34%
Gift Certificates -69.98 -0.02% -104.97 -0.02% 0.00 0.0%
Total Income 454,902.38 100.04% 463,502.22 100.0% 112,686.53 100.0%
Returned Check Charges -169.14 -0.04% 0.00 0.0% 0.00 0.0%
Total Income 454,733.24 100.0% 463,502.22 100.0% 112,686.53 100.0%
Cost of Goods Sold
Customer Refund 216.38 0.05% 0.00 0.0% 0.00 0.0%
A/C Service 13.40 0.0% 39.51 0.01% 8.57 0.01%
Power Steering Fluid 99.67 0.02% 21.19 0.01% 121.56 0.11%
Miscellaneous charge 4,461.14 0.98% 37,545.73 8.1% 7,018.11 6.23%
Fuel Filter Service 2,617.74 0.58% 1,333.02 0.29% 635.38 0.56%
Transmission Filter 552.97 0.12% 395.05 0.09% 134.57 0.12%
Anti-Freeze 3,202.03 0.7% 1,020.71 0.22% 157.86 0.14%
Additives 5,151.53 1.13% 3,095.03 0.67% 1,494.34 1.33%
Air Filters 13,113.43 2.88% 9,047.55 1.95% 1,853.64 1.65%
Batteries 2,614.34 0.58% 4,457.22 0.96% 911.40 0.81%
Fuel Filters 1,047.71 0.23% 1,665.34 0.36% 217.98 0.19%
Light Bulbs 346.97 0.08% 112.18 0.02% 21.07 0.02%
Oil 77,854.03 17.12% 83,193.79 17.95% 16,567.34 14,7%
Oil Filter 15,702.29 3.45% 14,089.67 3.04% 3,660.46 3.25%
Serpentine Belts 1,118.45 0.25% 1,780.39 0.38% 301.22 0.27%
Transmission Fluid 10,888.52 2.39% 16,579.52 3.58% 4,830.57 4.29%
Wiper Blades 5,505.12 1,21% 4,458.44 0.96% 1,096.56 0.97%
Gear Oil 3,882.27 0.85% 4,550.80 0.98% 951.95 0.85%
Fuel System Cleaner 660,99 0.15% 415.10 0.09% 657.34 0.58%
Breather Filter 0.00 0.0% 0.00 0.0% 5.59 0.01%
PCV Valve 0.00 0.0% 1.93 0.0% 0.00 0.0%
Cabin Air Filters 19.90 0.0% 49.70 0.01% 0.00 0.0%
Cost-Inventory Variance 17,606.54 3.87% -17,485.17 -3.77% -5,137.58 -4.56%
Purchase Discounts -43.78 -0.01% 0.00 0.0% 0.00 0.0%
Cost of Goods Sold-Other 80.75 0_02% 0.00 0.0% 0.00 0.0%
Total Cost of Goods Sold 166,712.39 36.66% 166,366.70 35.89% 35,507.93 31.51%
Gross Profit 288,020.85 63.34% 297,135.52 64.11% 77,178.60 68.49%
Payroll Expenses
SUTA 809.03 0.18% 63151 0.14% 245.77 0.22%
FICA 8,572.15 189% 9,524.45 2.06% 2,089.05 1.85%
FUTA 419.35 0.09% 422.27 0.09% 210.65 0.19%
Commissions 5,110.76 1.12% 5,529.90 1.19% 1,100.50 0.98%
Payroll-Sales 0.00 0.0% 0.00 0.0% 5,432.13 4.82%
Payroll Taxes -17.16 -0.0% 0.00 0.0% 466.29 0.41%
Workers Compensation 1,894.00 0.42% 839.00 0.18% 806.00 0.72%
Payroll Expenses-Other 108,125.43 23.78% 120,123.92 25.92% 21,533.45 19.11%
Total Payroll Expenses 124,913.56 27.47% 137,071.05 29.57% 31,883.84 28.29%
Retail Store Selling Expense
National Material Trust Fund 2,255.77 0.5% 2,299.64 0.5% 560.66 0.5%
Advertising 14,100,04 3.1% 10,411.78 2.25% 4,196.87 3.72%
Customer Satisfaction 226.24 0.05% 0.00 0.0% 0.00 0.0%
Page 1 of 2
Grease Monkey#728
Jan-Dec 08 %of Income Jan-Dec 09 %of Income Jan-Mar 10 %of Income
GMI Royalty Fee 21,181.56 4.66% 22,996.35 4.96% 5,606.51 4.98%
Warranty Expense 1,024.36 0.23% 2,409.54 0.52% 716.87 0.64%
Total Retail Store Selling Expense 38,787.97 8.53% 38,117.31 8.22% 11,080.91 9.83%
General&Administrative
Contract Labor 0.00 0.0% 0.00 0.0% 510.52 0.45%
Accounting Services 4,527.50 1.0% 906.25 0.2% 975.00 0.87%
Amortization 3,398.04 0.75% 3,398.04 0.73% 849.51 0.75%
Auto Lease 20.00 0.0% 18.00 0.0% 0.00 0.0%
Bad Debt Expense 1,165.35 0.26% 442.29 0.1% 0.00 0.0%
Bank Charges 587.80 0.13% 579.46 0.13% 133.91 0.12%
Business Travel 0.00 0.0% 10.00 0.0% 0.00 0.0%
Cash Over&Short -111.36 -0.02% 589.88 0.13% 81.16 0.07%
Charitable Contributions 0.00 0.0% 100.00 0.02% 0.00 0.0%
Depreciation Expense 22,658.56 4.98% 22,593.61 4.88% 5,643.63 5.01%
Equipment Rental 360.00 0.08% 360.00 0.08% 90.00 0.08%
Insurance 6,882.75 1.51% 6,405.97 1.38% 1,680.24 1.49%
Interest Expense 12,377.74 2.72% 9,564.33 2.06% 1,29985 1.15%
ISllube Soft Support 2,268.00 0.5% 2,268.00 0.49% 529.00 0.47%
Janitorial Supplies 459.18 0.1% 198.17 0.04% 0.00 0.0%
Legal and Professional 134.00 0.03% 573.00 0.12% 283.00 0.25%
Licenses and Permits 10.00 0.0% 205.00 0.04% 16.00 0.01%
Magazine/Newspaper Expense 279.75 0.06% 167.00 0.04% 19.50 0.02%
Maintainence&Repair-Building 2,114.25 0.47% 554.41 0.12% 240.16 0.21%
Maintainence&Repair-Equipment 931.34 0.21% 2,020.37 0.44% 822.89 0.73%
Meals and Entertainment 77.37 0.02% 24.65 0.01% 8.00 0.01%
Merchant Card Fees 9,890.20 2.18% 9,052.88 1.95% 2,667.92 2.37%
Misc.Operating Expense 466.35 0.1% 957.82 0.21% 28.58 0.03%
Miscellaneous 118.90 0.03% 0.00 0.0% 0.00 0.0%
Office Supplies 408.50 0.09% 468.59 0.1% 25.61 0.02%
Operating Supplies 3,564.52 0.78% 3,041.44 0.66% 630.02 0.56%
Property Taxes 17,238.73 3.79% 24,328.75 5.25% 6,092.10 5.41%
Rent Expense 99,753.30 21.94% 97,070.40 20.94% 24,267.60 21.54%
Security Service 599.20 0.13% 623.44 0.14% 0.00 0.0%
Shop Tools 44.10 0.01% 63.68 0.01% 157.27 0.14%
Telephone 7,428.62 1.63% 672.90 0.15% 169.90 0.15%
Transporation Expense 0.00 0.0% 375.00 0.08% 0.00 0.0%
Trash Disposal 743.25 0.16% 718.33 0.16% 168.20 0.15%
Uniform Expense 5,201.85 1.14% 6,011.70 1.3% 1,299.36 1.15%
Utilities-Water,Gas,Electric 9,496.90 2.09% 9,116.96 1.97% 3,477.92 3.09%
Total General&Administrative 213,094.69 46.86% 203,480.32 43.9% 52,166.85 46.29%
Total Expense 376,796.22 82_86% 378,668.68 81.7% 95,131.60 84.42%
Net Ordinary Income -88,775.37 -19.52% -81,533.16 -17.59% -17,953.00 -15.93%
Other Income/Expense
CAM Charges -231.17 -0.05% 5,379.48 1.16% -18.96 -0.02%
Chevron Texaco 1,333.26 0.29% 0.00 0.0% 0.00 0.0%
Interest Income 1.19 0.0% 0.00 0.0% 0.00 0.0%
Sales Tax Vendor Credit 561.23 0.12% 386.43 0.08% 293.08 0.26%
Waste Oil Sales 11,707.69 2.58% 6,418.48 1.39% 1,276.88 1.13%
Total Other Income/Expense 13,372.20 2.94% 12,184.39 2.63% 1,551.00 1.38%
Total Other Income 13,372.20 2.94% 12,184.39 2.63% 1,551.00 1.38%
Net Other Income 13,372.20 2.94% 12,184.39 2.63% 1,551.00 1.38%
Net Income .75,403.17 -16.58% -69,348.77 -14.96% -16,402.00 -14.56%
Page 2 of 2
6 CLERK TO THE BOARD
PHONE (970) 356-4000 EXT 4226
FAX: (970) 352-0242
WEBSITE: www.co.weld.co.us
915 10TH STREET
P.O. BOX 758
GREELEY, COLORADO 80632
�i
COLORADO
July 23, 2010
SEARS HAL MARSHALL REVOCABLE TRUST
1131 EMERALD BAY
LAGUNA BEACH, CA 92651
Parcel No.: 080718414003 Account No.: R3287204
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of July 29, 2010, at or about the hour of
10:30 AM, 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.
2010-1638
AS0076
SEARS HAL MARSHALL REVOCABLE TRUST- R3287204
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
d /
Esther E. Gesick
Deputy Clerk to the Board
cc: Christopher Woodruff, Assessor
2010-1638
AS0076
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