HomeMy WebLinkAbout20101642.tiff (it0 CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4226
FAX: (970) 352-0242
P. O BOX BOX 758
GREELEY, COLORADO 80632
1
�.
COLORADO
August 2, 2010
NCMC INC
1801 16 ST
GREELEY, CO 80631
RE: THE BOARD OF EQUALIZATION, 2010, WELD COUNTY, COLORADO - DENY
PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE
DESCRIPTION OF PROPERTY: ACCOUNT #: R8210700 PARCEL #: 095916016001 - GR
DRCR L1 BLK12 DRAKES CROSSING
Dear Petitioner:
On July 30, 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
$10,931,929 $3,263,593
Ce : C/4 pc-7(/e. bier) 2o10-1sa2
�$ (Clear filt�itCk �, /a/�d AS0076
NCMC INC - R8210700
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
2010-1642
AS0076
NCMC INC - R8210700
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.
Very truly yours,
c
s,�
Co Ca•
Esther E. Gesick
Deputy Clerk to the Board
cc: Christopher Woodruff, Assessor
BERENBAUM WEINSHIENK PC
ATTN KENNETH KRAMER
370 17TH ST STE 4800
DENVER CO 80202
2010-1642
AS0076
BOE SUMMARY SHEET
Account Number: R8210700 Parcel Number: 095916016001
NCMC INC
1801 16 ST
GREELEY, CO 80631
HEARING DATE: 7/30/2010,s/N)
AT 9:00 AM
HEARING ATTENDED? NAME: cI JL/ V,(/� '1 llA
AGENT NAME: J�
APPRAISER NAME: NRL C UJ- 1(t 1L
DECISION
ACTUAL VALUATION
APPROVE BY SET BY
ASSESSOR BOARD
TOTAL ACTUAL VALUE 10,931,929 .5/02/04 593
COMMENTS: //►►
MOTION BY K a2 TO 119/9,
SECONDED BY i C Garcia -- /N)
Rademacher-- N)
Failed to prove appropriate value Conway-- /N)
No comparables given Kirkmeyer-- /N)&Xell5E'(
Assessor's value upheld Long -- (Y/N)EXC85S2
Other:
RESOLUTION NO. 2010-1642
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
NCMC INC
North Colorado Surgery Center
PETITIONER
VS.
WELD COUNTY ASSESSOR'S OFFICE
RESPONDENT
Parcel Number: 0959-16-0-16-001
Schedule Number: R8210700
Log Number: LOGNUMBER
Date: 07/30/10
Time: 9:00 am
Board: CBOE
PREPARED BY
CHARLES JACK
Signature Date
Signature Date
ASSESSOR'S OFFICE STAFF APPRAISER
'7 // CBOE_COMM_01099B
on)/0— /10tt7 Page 1
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 2000 70 AV
GREELEY
Land Area 117,618 Square Feet
Property Type Commercial
Medical Office
Year Built 2000
Year Remodeled
Quality Average
Class Metal Frame
Number of Stories 1
Improvement Sq. Ft. 23,945 sq ft
Basement Finished Sq. Ft. 0
Value Indications:
Land $352,854
Cost Approach $3,364,000
Market Approach $3,268,493
Income Approach $3,663,500
Final Value $3,263,593
CBOE_COMM_010998
Page 2
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CBOE_COMM_01
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CBOE_COMM_01099E
Page E
COST APPROACH SUMMARY
The Assessor is currently using Marshall and Swift cost tables for the cost approach of commercial
properties in Weld County, which has been approved by the Division of Property Taxation to be
utilized by Colorado Assessors.
The structure has been classified properly utilizing the Marshall and Swift Valuation service and an
appropriate value assigned. A land value has likewise been established through the utilization of
vacant land sales of comparable properties.
Improvement Value $3,011,200
Land Value $ 352,854
TOTAL VALUE BY THE COST APPROACH
$3,364.000
CBOE_COMM_01099E
Page E
COST APPROACH
LAND VALUE
Sales utilized to establish the value in the subject neighborhood are from 2007 and the first six
months of the 2008 market for the 2010 assessment date. The comparative sales approach is the
most reliable method of land valuation. Pursuant to 39-104-(10.2) (c) C. R. S., the Assessor may
utilize sales from July 2003 through June 2008 to establish the proper value, if sufficient information is
not available in the prior 18 months. Also, comparables outside the subject property area may be
used. The Weld County Assessor has an established ongoing sales confirmation and validation
program for property transactions used in developing value.
The land size of the subject is 117,618 square feet. Comparable commercial land sales in the subject
area range from $3.44 to $5.53 per sq ft. A value of$3.00 psf or $352,854 was chosen to be
applicable for the subject property when considering its location.
Parcel Number Sale Date Sale Price Land Size Per sq ft
Comparable 1 095915217001 10/2/2006 $391,970 70,911 $5.53
Comparable 2 095923102007 3/21/2006 $675,000 125,757 $5.36
Comparable 3 095922401003 5/22/2007 $632,100 183,209 $3.44
ASSESSOR'S SUBJECT LAND VALUE
$352,854
CBOE_COMM_010991
Page i
Cost Approach Summary
PARCEL NUMBER 095916016001
PROPERTY OWNER Summit View Medical
ADRESS 2000 70 Ave
CITY, STATE,ZIP Greeley
DATE OF APPRAISAL 06/30/08
OCCUPANCY: Medical Office NUMBER OF STORIES 1
FLOOR AREA (SQ. FT.) 23,945 AVERAGE STORY HEIGH1 10
CLASS: S YEAR BUILT 2000
COST RANK Good EFFECTIVE AGE 2000
HEATING AND COOLING Package Unit ESTIMATED LIFE 35
UNITS COST TOTAL
RCN BASIC STRUCTURE COS' 23,945 $153.76 $3,681,783
perimeter adjustment 0.928
wall height adjustment 0.953
Current multiplier 1.02
Local multiplier 0.97
Adjusted RCN Basic Cost $3,221,595
EXTRAS: Sq Ft Cost PSF
Canopy 2,608 $16.10 41,989
asphalt 57,041 $2.10 119,786
TOTAL RCN $3,383,370
LESS DEPRECIATION
PHYSICAL 0.11 $372,171
FUNCTIONAL 0.00 $0
ECONOMICAL 0.00 $0
RCN LESS DEPR. $3,011,200
ADD IN LAND VALUE $352,854
TOTAL VALUE $3,364,054
Rounded Value $3,364,000
Value PSF $140.49
CBOE_COMM_01099
Page
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 perioi
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 appea
The Sales Comparison Approach was considered in developing a market value for the Subject. Sal
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 $136.50 psf or $3,268,493 accurately reflects the market value of the
subject property.
VALUE As INDICATED BY THE MARKET APPROACH
$3,268,493
CBOE_COMM_01
Pz
COMPARATIVE SALES APPROACH
SALE# Subject 1 2 3 4
Comments
Parcel # 95916016001 95903319001 095908401005 95911342003 95911342008
Address 2000 70 Av 910 54 Av 7251 20 St 4625 20 St 4665 20 St
Greeley Greeley Greeley Greeley Greeley
Grantor
Grantee
Sale Date 4/26/2004 2/28/2006 9/15/2006 5/16/2006
Sale Price $3,400,000 $1,500,000 $1,368,000 $1,358,000
Land Size 352,854 64,731 54,144 7,379 5,264
L/B Ratio 14.76 2.6 6.64 1 1
Bldg SF 23,945 24,895 8,154 7,552 7,392
Effective age 2000 1999 2002 2006 2006
Use Medical office Medical Office Medical Office! Office Office
Unadj Sale PS $136.30 $136.57 $183.95 $181.14 $183.71
Size adj. -10.0% -10.0% -10.0%
Adjusted SP $136.57 $165.56 $163.03 $165.34
Comps Range: $136.57 - $165.56
Comps Avg: $157.62
Comps Median $164.19
Value per Market Sales $136.50 x 23,945 sq ft= $3,268,493
CBOE_COMM_0''
Pag
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, • ' 3r ' „ 31. .-_ - 1 f,kI
CT ^"x 700' 700'
-i 3800 � 18W 26.00
"�" .. I 12A0' 2.07 2.00' 12.00'
z ' x b ar 34.00' I 56.00' 8.07 I
y e ar_- ''-4"C-4'fit Y an ..•s,,,,,:,, .s., mS .E�aa. !<1 { Y..,. ! . l7t ' •
, .. 28 00'
" ' tr . - - -- -s�. d =• — s>,, OFFICE
a, - �.r , t '� 1633' First Fioar
�„, r.�-- L
i= "�t;.Px' :.'''' 12125 00 sf
> x r sue' 20A0' 82.01
Second Floor
6
n 12770 00 sf
.4, - t - _ ...._ — ksst........43
i
-5�.7 i es..-, .�:. i1 - 26A0' I .77 45 ' 34 07
7s-Py #• , ._ �.....—_..__�. 3200 857) 58.00'
a _ _._.._...—._..1600' 14 650 14 114 I.
.4.•v,..^v"'tilt' 4 s _ 9 ' ~. 26-00' 00' 650' _ 1.60'1 1
.. S400n0 ;109 .__
Story 7.00' 1807 7.00' 28.
00
Skala by 4.x NWMldo.$
COMPARABLE SALE # 1 COUNTY: WELD
ACCOUNT R8440100 PARCEL NUMBER: 095903319001
PRIMARY OCC: Office Building PERCENT: 100%
SECONDARY OCC: PERCENT:
ADDRESS: 910 54 AV GREELEY
RECEPT NUMBER: 3174612 SALE DATE: 4/26/2004
GRANTOR: WEST POINT DEVELOPMENT SALE PRICE: $3,400,000
GRANTEE: CLARKSON LAND LLC & WEST ADJ SALE PRICE: $3,400,000
YEAR BUILT: 1999 CLASS: D
EFFECTIVE AGE: LAND/BLDG RATIO: 2.60
LAND SIZE (SF): 64,731 LAND VALUE: $323,655
BLDG SIZE (SF): 24.895 IMPS PRICE/SF: $ 123.57
WALL HEIGHT: 10 SALE PRICE/SF: $ 136.57
STORIES: 2 INTEREST RATE:
BSMNT SIZE: DOWN PYMT:
BSMNT FINISH: LOAN TERM (YRS):
ZONING: GRE CL POINTS PAID:
QUALITY: Good
COMMENTS:
CBOE_COMM 01
Pag
-� o Y � � �. -sA! �V • Iy l.•1'`-rte
1 rrf �q +3' Total First Floor 8,154 sq It
Finish Bsme 1,617 sq.4
$ 160.9Y 50.50'
31.00. I . � al a
76 O La o
QK Unit J
C Medical Office Medktomce Un11J
•
Medical Office 8q 2002 '- Fvushed 2005 UrdinisnW Aroa
Fuushed class o 1,591.051 a 1,1920sq M1
�,<yas n.
1,517001 ft Package Air n
V IS P- FIhIShM 10.1%.11II I 41m r. Bsml 344610eq.n
t S ^ 16170
1 gl u1r is 1950 nie
�i!,t
I ` •''% _ �� 31.00' LB, C.31: R ,$ 72.25' 15.0' $ � 31.00'
-.. t. — :i . w x t,r .- 113AN.1Mr IC0 sq ft ;r. n. scan caring
_ I. • .. [rec^ °f...• 10700'
�» ' �_
AsDhaI1 Parking
8{25sg0 see w aped w-
COMPARABLE SALE #2 COUNTY: WELD
ACCOUNT R1357202 PARCEL NUMBER: 095908401005
PRIMARY OCC: Medical Office PERCENT: 100%
SECONDARY OCC: PERCENT:
THIRD OCC: PERCENT:
ADDRESS: 7251 20 ST UNITS - J & K GREELEY
RECEPT NUMBER: 3367057 SALE DATE: 2/28/2006
GRANTOR: TOM KEBERLEIN CONSTRUCTION LLC SALE PRICE: $1 ,500,000
GRANTEE: HAYTHORN COMMERCIAL PROP LLC ADJ SALE PRICE:
YEAR BUILT: 2002 CLASS: D
EFFECTIVE AGE: LAND/BLDG RATIO: 6.64
LAND SIZE (SF): 54,144 LAND VALUE: $292,378
BLDG SIZE (SF): 8, 154 IMPS PRICE/SF: $148. 10
WALL HEIGHT: 10 SALE PRICE/SF: $ 183.95
STORIES: 1 INTEREST RATE:
BSMNT SIZE: DOWN PYMT:
BSMNT FINISH: LOAN TERM (YRS):
ZONING: GRE CH POINTS PAID:
QUALITY: Average
COMMENTS: MULTIPLE TENANT BUILDING. APPROXIMATELY 1,492 SF WAS VACANT AND HAD NO
INTERIOR FINISH AT TIME OF SALE. CONFIRMED SALE WITH PERRY HAYTHORN
CBOE_COMM_01
Pag
ratnayt~an _ H
10 wh per story oe 5
co�� Sig) 30 ()
t
i 4006=4 ft
I
..,: -. -
I
-
_ 50' 2t.7'
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a s r.. m t B 1 ?i3
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53.5' 3.0'
28.0'
1stMel 46726sq n
Second Roo! 2880 5 sq fl.
swage art 1467 0 sq fl
Sloth by Apo M"
COMPARABLE SALE #3 COUNTY: WELD
ACCOUNT: R2806604 PARCEL NUMBER: 095911342003
PRIMARY OCC: Office — Day Spa PERCENT: 100%
SECONDARY OCC : PERCENT:
ADDRESS: 4625 20th Street, Greeley
RECEPT NUMBER: 3421596 SALE DATE: 09/15/2006
GRANTOR: NBC DESIGNS LLC SALE PRICE: $1 ,368,000
GRANTEE: HART, JEREMY & JENNIFER ADJ SALE PRICE:
YEAR BUILT: 2006 CLASS: D
EFFECTIVE AGE: LAND/BLDG RATIO: 1 .57
LAND SIZE (SF): 7,379 LAND VALUE: $36,895
BLDG SIZE (SF): 7,552 IMPS PRICE/SF: $176.25
WALL HEIGHT: 10' WH SALE PRICE/SF: $181 . 14
STORIES : 2 INTEREST RATE:
BSMNT SIZE: 1467 DOWN PYMT:
BSMNT FINISH : Storage LOAN TERM (YRS):
ZONING : POINTS PAID:
QUALITY: Average
COMMENTS: SOLD AS NEW CONSTRUCTION. LAND SIZE IS PAD SITE ONLY. CONFIRMED SALE WITH
JEREMY HART
CBOE_COMM_01l
Page
` First Floor 3817.0 sq ft.
.` .. ' Second Floor 3575 5 sq ft
.- Total Area 7392 0 sq ft �s
- - ... i 1 0' 2O 17.0' 4_r' n b b 20'
49 17 q'
20.0' 2D1'A 22.0' 30. 210'
nn za 9.0'
11 5'
a 1 13 0'
r
2
. .. I v OFFICE
17 0' b ELT 2005
1 I s . 23 0'
IcIVAls:
"�1� vAOJ$S O 35 0'
4 Vk1
j 1 Stairs
„. — t i - WI
2aL b b , Ii Il N
= fIllrowni--* 11 5'
Lobby
•
120 22.0'
22.0' 4Orp.C 2I J JG 220'
25' 160' 1O3$
See Page#2 for Mechanical Bsmt
IPSO M kts M
COMPARABLE SALE #4 COUNTY: WELD
ACCOUNT R2807104 PARCEL NUMBER: 095911342008
PRIMARY OCC: Office PERCENT: 100%
SECONDARY OCC: PERCENT:
THIRD OCC: PERCENT:
ADDRESS: 4665 20 ST GREELEY
RECEPT NUMBER: 3390866 SALE DATE: 5/16/2006
GRANTOR: NBC DESIGNS LLC SALE PRICE: $1 ,568,549
GRANTEE: OWENS WILLARD G & ADJ SALE PRICE: $ 1,358,000
YEAR BUILT: 2005 CLASS: D
EFFECTIVE AGE: LAND/BLDG RATIO: 1 .0
LAND SIZE (SF): 5,264 LAND VALUE: $263,200
BLDG SIZE (SF): 7.392 IMPS PRICE/SF:
WALL HEIGHT: 10 SALE PRICE/SF: $183.71
STORIES: 2 INTEREST RATE:
BSMNT SIZE: 1 ,605 DOWN PYMT:
BSMNT FINISH: LOAN TERM (YRS):
ZONING: POINTS PAID:
QUALITY: Good
COMMENTS: ADJUSTED SALE $210,549 FOR THERAPY EQUIPMENT. UNFINISHED BASEMENT SQUARE
FOOTAGE NOT INCLUDED IN BUILDING SIZE. CONFIRMED SALE WITH WILLARD OWENS.
CBOE COMM_01I
Page
INCOME APPROACH TO VALUE
The basic steps in the Income Approach to value for commercial properties in mass appraisal are
based on a landlord-tenant situation and not on the income of the actual business. In using this
approach, it eliminates the possibility of valuing management as opposed to the potential income of
the structure. This is the proper method Assessor's must utilize through the Directives of the Division
of Property Taxation.
INCOME APPROACH STEPS
1. Estimate potential gross income to the landlord.
2. Deduct typical vacancy and collection loss.
3. Add additional miscellaneous income.
4. Determine typical landlord operating expenses.
5. Deduct operating expenses to determine the landlord's operating income.
6. Determine a proper capitalization rate.
7. Capitalize the net income into an estimated property value.
Research has been done by the Assessor to determine the typical rent by location, type of structure
and the property use.
The Weld County Assessor's office has also researched the typical landlord expenses, additional
income based on the type of business, and vacancy and collection loss.
An Income Approach has been completed for the subject.
CBOE_COMM_01 09
Page
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MARKET INCOME WORKSHEET
Parcel : 095916016001
Name : NCMC Surgery Center
Address : 2000 70 Ave, Greeely
Bldg Sq Ft Use
Medical
23,945 Office
Effective
Tax Rate Mill Rate Assm't Rate Tax Rate
0.021982
0 .075802 0 . 29 6
Avg Rent PSF
Subject Annual
Rents Annual Rent per Gross
Area Rent PSF Month Income
Main Fir
PSF 3945 $ 17 .00 $33,922 $407 , 065
LessVacancy & Expenses
Vacancy 15% $61 , 060
EGI $345, 985
Expenses
mgmt 7% $24 ,219
R/R 3% $ 10 ,380
Net Income $14.03 $311 ,386
Net Income/Overall Cap Rate = Property Value
Property
Value
Cap Rate + Eff Tax Rate 0.085 $3 ,663,365
Estimated Property Value $3,663,500
CBOE_COMM_010998
Page 16
, . ..,!, 2. me psf $153.0u ''.
4,0
Comparable Net
office Bldg Year Income
Rentals Use Address Size Const'd Per Sq Ft
Subject prop. Med Office 2000 70 Av 23,945 2002 22.96
NRCS Office 4407 29 St 3,863 $18.60
Amer. Title Office 3459 20 St 2,173 $17.75
Weld Cty
title Office 7251 20 St 3,147 $17.39
The Point Office/Med 7251 20 St 1,851 $17.00
Holiday
Manor Office 8219 20 St 1,672 2005 $15.35
College
Green Office 4695 20 St 6,362 2004 $14.75
GBOE_COMM_D10998
Page 17
z�r
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$3,263,593 , most accurately reflects the value of the subject property in
Weld County for the 2008 tax year.
COST APPROACH MARKET APPROACH INCOME APPROACH
$3,364,000 $3,268,493 $3,663,500
ASSESSOR'S VALUE
$3,263,593
Land $1 ,965,915
Improvements $8,966,014
Total Value $10.931.929
OBOE COMM 010998
Page 18
, . , u .,„ „i
J
'•4
'
Assessor's Office Total Value for Parcel 0961.16.0-16-001
Building Land Value Improvement Value Total
Bldg#1 NCMC Day Surgery- Summit View $766,047 $6,055,275 $6,821,322
Bldg#2 North Colorado Surgery Center $352,854 $2,910,739 $3,263,593
Vacant Land 452,555 sq ft of vacant land $847,014 $847,014
Total Value $1,965,915 $8,966,014 $10,931,929
CBOE_COMM_010998
Page 19
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
- —
a , a 2081 M
R8210700 2010
GR DRCR Li BLK12 DRAKES CROSSING
200D 70 AV
GREELEY,CO
NCMC INC
12 1801 16 ST
GREELEY,CO 80631
a
t �liri(Ttt'ftif� ityii 4i,1'ff�lk �- atit
_::v -vc- --- �. .vim.:- r _ .e. _ - .aryP ,-rate, vi.}.ui- .
VACANT LAND 847,014 847,014
COMMERCIAL 4,082,152 4,082,152
EXEMPT PROPERTIES 6,002,763 6,002,763
- s-'+rev- $10,931,929 $10,931,929
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:
CM05- The law requires that all of 2007 and the first 6 months of 2008 data be used to establish
current values.We have considered all(3)throe approaches to value in arriving at your current
valuation. We have denied your appeal based upon this data.
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.
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2010-1642 C.:', R rn--i
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County Board of Equalization Hearings will be held from
July 1 through August 5 at
91510'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
9-1-5-10T"Street-RO,Box-7-58
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 16 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 9W Street, P.O. Box C
Denver,CO 80203 Greeley, Colorado 80632
(303)866-5880 Telephone(970) 356-4000 Ext. 4520
www.dola.colorad o,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. q
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 33 Y
forre ropfrty pursuant to§39-8-106(1.5), C.R.S.)
What is the basis for your estimate of value or // 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.)
SEe-477:4 AI&J aeeu/Y/ENrs •
na = ear zl
I, the undersigned owner or agent of the property identfied above, affirm that the statements
contai a ereip and on any attachment hereto are true and complete.
.x%3)825-000o 7�f 31O
Si 'relephone Number Date
Attach letter of authorization signed by property owner.
15-DPT AR
PR 207-00/08
NOW,:0407
•
BERENBAUM UM 370 Seventeenth Street, Suite 4800 I Denver, Colorado 80202
Telephone 303.825.0800 I Facsimile 303.629.7610
WEINSHIE1'c KID. Kenneth S.Kramer, Attorney
Direct Dial: 303.592.8353 I E-Mail:kskramer2thw-legal.com
July 14, 2010
Weld County Board of Equalization
(Attn: Tanya Disney)
915 10t" Street
P.O. Box 758
Greeley, CO 80632
Re: Schedule No.: R8210700
Property Address: 2000 70 Av
Property Owner: NCMC INC,
Dear Ms. Disney:
Thank you for your voicemail yesterday confirming your receipt of the Petition to the
County Board of Equalization appealing the decision of the County Tax Assessor regarding the
Written Letter of Objection or Protest of Valuation, submitted by this firm on behalf of the
property owner identified above. As requested, we enclose the County's Notice of
Determination, with the portion appealing that decision completed and signed on page 2 of said
Notice, and ask that it be incorporated to original Petition you have received.
We apologize for any inconvenience the inadvertent omission of the completed portion
may have caused. Thank you for your time and understanding.
Very truly yours,
BERENBAUM WEINSHIENK PC
Ered Deag ro, r.
Legal Assis o neth S. Kramer, Esq.
/fd
Enclosure
BEREN BALI\4 370 Seventeenth Street, Suite 4800 I Denver, Colorado 80202
Telephone 303.825.0800 I Facsimile 303.629.7610
W E IN S H I E'K FC Kenneth S.Kramer,Attorney
Direct Dial: 303.592.8353 I E-Mail: kskramer([&bw-Ieoal.com
July 12, 2010
Weld County Board of Equalization
915 10th Street
P.O. Box 758
Greeley, CO 80632
Re: Schedule No.: R8210700
Property Address: 2000 70 Av
Property Owner: NCMC INC
Dear Sir or Madam:
Pursuant to the provisions of § 39-8-106, C.R.S., we hereby submit the enclosed Petition
to the County Board of Equalization appealing the decision of the County Tax Assessor
regarding the Written Letter of Objection or Protest of Valuation submitted by this firm on
behalf of the property owner identified above, a copy of which is enclosed and submitted in
support of this appeal.
In the event the Board does not grant, in whole or in part, the appeal from the County Tax
Assessor's denial for the property for which the appeal is being made, please note in your records
that copies of denials should be mailed to this firm, to the attention of Fred Deaguero, Jr.
Very truly yours,
BERENBAUM WEINSHIENK PC
Q
F d Deaguera, .
Legal Assist t to ' •nnet S. Kramer, Esq.
/fd
Enclosures
;9
,u ter
O
PETITION TO THE COUNTY BOARD OF EQUALIZATION
In the space below, please explain why you disagree with the Assessor's valuation. For
Real Property, state in terms of a specific dollar amount, the correct property value. Attach
additional documents as necessary.
PARCEL NUMBER: 095916016001
LEGAL DESCRIPTION: GR DRCR LI BLKI2 DRAKES CROSSING
PROPERTY ADDRESS: 2000 70 AV GREELEY 806340000 2001 70 AV
GREELEY
Petitioner: NCMC INC
In support of the Petition to the County Board of Equalization of the denial by the County
Tax Assessor of the Written Letter of Objection and Protest of Valuation, the Written Letter of
Objection and Protest of Valuation and exhibits (if any) previously submitted to the County Tax
Assessor are hereby adopted as the basis for the appeal to the County Board of Equalization, a
copy of which is attached hereto. Additional information and evidence in support of this appeal
will be submitted during the hearing before the County Board of Equalization and the property
owner hereby reserves the right to submit additional documents at the hearing.
Date: July /'L , 2010.
Petitioner: NCMC INC
By:
Au orized Representative
BERENBAUM WEINSHIENK PC
Kenneth S. Kramer, #16929
370 Seventeenth Street, Suite 4800
Denver, Colorado 80202
Telephone: (303) 825-0800
Facsimile: (303) 629-7610
CERTIFICATE OF SERVICE
I hereby certify that on July /2- , 2010, I did serve the above Petition, together with all
supporting documentation and the attached Authorization, either by hand delivery, facsimile or
by depositing the same in the U.S. mail, to the Office of the Board of Equalization for the
County of Weld, State of Colorado.
77, 0
Fred Deaguero, J ., ►- al A•sistant
WRITTEN LETTER OF OBJECTION AND PROTEST OF VALUATION
Pursuant to the provisions of §39-5-122, C.R.S., as amended, objection and protest is
hereby made of the determination for 2010 property taxes of the actual value to the assessed
value for the real property described as follows (the "Property"):
PARCEL NUMBER: 095916016001
LEGAL DESCRIPTION: GR DRCR L1 BLK12 DRAKES CROSSING
PROPERTY ADDRESS: 2000 70 AV GREELEY 806340000 2001 70
AV GREELEY
The determination of the actual value of the Property by the Assessor is erroneous and
otherwise improper because it does not accurately reflect the actual value of the Property for
property tax purposes as required by the provisions of §§ 39-5-103 and 39-1-104, C.R.S., as
amended.
The actual value of the Property should be reduced from the Assessor's actual value of
$10,931,929 to the correct actual value of the Property as of January 1, 2010, which is not
more than $10,313,197. A portion of the subject Property is occupied by a surgery center. Of
the total $10,931,929 value, $3,263,593 is allocated to land and buildings used by the surgery
center. The surgery center is vacant due to the tenant abandoning the property, and has been
for some time. There is no prospect for use of the surgery center in the near future.
Discussion with Mr. Stan Janz of the Weld County Assessor's Office, prior to his retirement,
led to the conclusion that the Property is suffering from economic obsolescence and,
therefore, eligible for a 20% discount in value of$652,718.
DATED: May / 7 , 2010
PROPERTY OWNERS:
By:
Authorized Representative
BERENBAUM WEINSHIENK PC
Kenneth S. Kramer, #16929
370 17th Street, Suite 4800
Denver, CO 80202
303-825-0800
6,:e12� 7cciaisoaoo3 c//6 3/.z�
CERTIFICATE OF SERVICE
I hereby certify that on May 17 , 2010, I did serve the above Written Letter of
Objection and Protest, together with any supporting documentation and the attached
Authorization, by either U.S. Mail or delivering the same to the Weld County Assessor, State
of Colorado.
AUTHORIZATION
The undersigned hereby authorizes the law firm of 13EREN13AUM W E1NS1-IIENK PC
to prosecute the protest,abatement,appeal and any other proceedings for the valuation of the
property listed below for the 2009 and 2010 tax years,including the signing of any protest forms
or applications for review,or requests for abatement of taxes previously paid.
DATED this 17 day of May,2010.
PARCEL NUMBER: 095916016001
LEGAL DESCRIPTION: OR DRCR 1,1 13LK12 DRAKES CROSSING
PROPERTY ADDRESS: 2000 70 GREELEY
V GREELEY 806340000 2001 70 AV
NAME OF PROPERTY OWNER(S): NCMC INC.
By: �}� _•
Its: g 0-09-NO-7 F u rt v 2
Phone
CLERK TO THE BOARD
PHONE (970) 356-4000 EXT 4226
W FAX: (970) 352-0242.co.us
WEBSITE: www.co.weld.co.us
91510TH STREET
P.O. BOX 758
GREELEY, COLORADO 80632
COLORADO
July 23, 2010
NCMC INC
1801 16 ST
GREELEY, CO 80631
Parcel No.: 095916016001 Account No.: R8210700
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of July 30, 2010, at or about the hour of
9:00 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.
2010-1642
AS0076
NCMC INC - R8210700
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 IZ
Esther E. Gesick
Deputy Clerk to the Board
cc: Christopher Woodruff, Assessor
2010-1642
AS0076
Hello