HomeMy WebLinkAbout20092013.tiffCLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4226
FAX: (970) 352-0242
P. O. BOX 758
GREELEY, COLORADO 80632
COLORADO
September 9, 2009
VIJAYASARATHY LEO R &
1225 WALNUT ST
WINDSOR, CO 80550
RE: THE BOARD OF EQUALIZATION, 2009, WELD COUNTY, COLORADO - STIPULATE
PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE
DESCRIPTION OF PROPERTY: ACCOUNT #: R1046596 PARCEL #: 080720205012 - WIN
2RB2-12 L12 BLK2 RIVERBEND 2ND REPLAT SITUS: 1225 WALNUT ST WINDSOR 80550
Dear Petitioner:
On July 28, July 30, and August 5, 2009, 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 the Stipulation on your petition of appeal of the County Assessor's
valuation of your property described above, for the year 2009.
The Stipulation was entered into between the Assessor and said petitioner(s), and accepted
by the Board of Equalization, agreeing that the assessment and valuation of the Weld County
Assessor be Stipulated as follows:
ACTUAL VALUE AS
DETERMINED BY
ASSESSOR
ACTUAL VALUE AS
STIPULATED
$296,552 $276,000
2009-2013
AS0073
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VIJAYASARATHY LEO R & - R1046596
Page 2
If you have questions or need additional information, please do not hesitate to contact me at
(970) 336-7215, Extension 4226.
Very truly yours,
Esther E. Gesick
Deputy Clerk to the Board
cc: Christopher Woodruff, Assessor
2009-2013
AS0073
4
2009
COUNTY BOARD OF EQUALIZATION
WELD COUNTY
ASSESSOR'S ACCOUNT NUMBER R1046596
STIPULATION (As To Tax Year 2009 Actual Value)
RE PETITION OF:
NAME: VIJAYASARATHY LEO R &
1225 WALNUT ST
WINDSOR CO 80550
Petitioner(s), VIJAYASARATHY LEO R & and the Weld County Assessor, hereby enter
into this Stipulation regarding the tax year 2009 valuation of the subject property, and
jointly move that the Board of Equalization to enter its order based on this Stipulation.
Petitioner(s) and the Assessor agree and stipulate as follows:
1. The property subject to this Stipulation is described as:
WIN 2RB2-12 L12 BLK2 RIVERBEND 2ND REPLAT SITUS: 1225 WALNUT
ST WINDSOR 80550
2. The subject property is classified as Residential property
3. The County Assessor originally assigned the following actual value to the subject
property for 2009.
LAND: $44,000
IMPROVEMENTS: $252,552
TOTAL $296,552
4. After further review and negotiation, the petitioner(s) and Weld County Assessor
agree to the following actual value for the subject property.
LAND: $44,000
IMPROVEMENTS: $232,000
TOTAL $276,000
2009-2013
f
5. The valuations, as established above, shall be binding only with respect to tax year
2009.
6. Brief narrative as to why the reduction was made:
Value was adjusted based upon the general market prices per sq. ft. that were in
place in the base period, additionally the income was considered as backup for the
market.
7. A hearing has not yet been scheduled before the Board of Equalization.
DATED this 16 day of July, 2009.
Petitione (s) or Attdrney Petitioner(s) or Attorney
Address:
/x.75 cc OnofSl •
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Telephone: h c4 5 ‘s--1
County Assessor:
Address:
Telephone:
ADDRESS:
1400 N.17th Avenue
Greeley, CO 80631
(970) 353-3845 ext. 3656
REAL AND PERSONAL PROPERTY
NOTICE OF DETERMINATION
Christopher M. Woodruff
WELD Assessor
1400 N 17th Ave
GREELEY, CO 80631
Date of Notice: 6/24/2009
Telephone: (970) 353-3845
Fax: (970) 304-6433
Office Hours: 8:00 AM - 5:00 PM
SCHEDULE/ACCOUNT NO.
TAX YEAR
TAX AREA
LEGAL DESCRIPTION/
PHYSICAL LOCATION
R1046596
2009
0421
WIN 2RB2-12 L12 BLK2 RIVERBEND 2ND
REPLAT SITUS: 1225 WALNUT ST
WINDSOR 80550
1225 S
WINDSOR, WALNUT ST
W DSOR, CO 80550
PROPERTY. OWNER
VIJAYASARATHY LEO R &
1225 WALNUT ST
WINDSOR, CO 80550
PROPERTY CLASSIFICATION
ASSESSOR'S VALUATION
ACTUAL VALUE PRIORTO
REVIEW
ACTUAL VALUE AFTER
REVIEW
RESIDENTIAL
300,088
296,552
TOTAL
$300,088
$296,552
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:
AL02 - The actual valuation of your property has been adjusted based on new information. This may
be information you have supplied, corrections of characteristics or additional sales which we have
uncovered during the appeals process.
If you disagree with the Assessor's decision, you have the right to appeal to the
County Board of Equalization for further consideration, § 39-8-106(1)(a), C.R.S.
The deadline for filing real property appeals is July 15.
The deadline for filing personal property appeals is July 20.
The Assessor establishes property values. The local taxing authorities (county, school
district, city, fire protection, and other special districts) set mill levies. The mill levy
requested by each taxing authority is based on a projected budget and the property tax
revenue required to adequately fund the services it provides to its taxpayers. The local
taxing authorities hold budget hearings in the fall. If you are concerned about mill levies, we
recommend that you attend these budget hearings. Please refer to last year's tax bill or ask
your Assessor for a listing of the local taxing authorities.
Please refer to the reverse side of this notice for additional information.
' 15 -DPI -AR
PR 207-O8/08
NOD #'. 1827
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 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 for real property pursuant to § 39-8-106(1.5), C.R.S.)
$.274,4+7
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.)
Plt.,k A.4 .14-Ad4 LMf Laf --J
ATTESTATION
I, the undersigned owner or agent' of the property identified above, affirm that the statements
cont ed herein and on any attachments hereto are true and complete. 0
I I rim 17!- in- Csf1 761/3 lel
Signature Telephone Number Dat
'Attach letter of authorization signed by property owner.
15-DPT-AR
PR 207-08/08
NOD #: 1827
July 13, 2009
Weld County Board of Equalization
915 10th Street, P.O. Box 758
Greeley, CO 80632
Dear Board Members:
The House Price Index (HPI) published by the Federal Housing Finance Agency shows a decline
in house prices for every quarter between January 2007 and June 2008 (please see Attachment
1). Even though the HPI is for the city of Greeley (the HPI is published only for larger cities), it
is unreasonable to assume that houses in Windsor (a community within ten miles of Greeley) had
appreciated by 6.47% during the same time period.
According to a study of Northern Colorado home prices by Colorado State University's Everitt
Real Estate Center (please see Attachment 2), Windsor -Severance home prices declined by 2.9%
in 2007-2008.
Prices of comparable houses in our neighborhood are also lower than the assessed value (please
see Attachment 3).
Given the above evidence, I believe that the assessed value of our property should be between
$278, 535 and $270,458.
Thank you for considering my appeal.
Sincerely,
Oeristraft
Leo Vijayasarathy
1225 Walnut St.
Windsor, CO 80550
970-686-5181
Federal Housing Finance Agency - City HPI Data �'. f -,„
Page 1 of 3
About FHFA Former Regulator, -
Office of me Inspector General
House Price Index
About HPI
State HPI Data
City HPI Datg
Pegionel HPI Data
Quarterly HPI
Monthly HPI
HPI Calculator
Downloadable Data
HPI Historical Reports
Mission Statem eat,
To promote a stable and liquid mortgage market,
affordable housing and community investment through
safety and soundness oversight of Fannie Mae, Freddie
Mac and the Federal name Loan hanks,
advf,nceti ,demo
Lilt; ,;,r «.y Supervision and Regulations House Price Index Capital Research and Analysis Public Information
.1El
MSA HPI Comparisons
Four -Quarter Percent Change in FHFA MSA-Level House Price Indexes (Alt -Transactions
Index, 2009Q1)
Year Quarter Greeley, CO
2009 1
2008 4
2008 3
2008 2
2008 1
2007 4
2007 3
2007 2
2007 1
2006 4
2006 3
2006 2
2006 1
2005 4
2005 3
2005 2
2005 1
2004 4
2004 3
2004 2
2004 1
2003 4
2003 3
2003 2
2003 1
2002 4
2002 3
2002 2
2002 1
2001 4
2001 3
2001 2
200I 1
2000 4
2000 3
2000 2
2000 1
1999 4
1999 3
1999 2
1999 1
1998 4
1998 3
1998 2
1998 1.
1997 4
1997 3
1997 2
1997 1
1996 4
1996 3
1996 2
1996 1
1995 4
1995 3
-0.82
-6.15
-5.28
- 0.96
-3.51
-3.15
-1.83
-2.07
-3.15
-1.03
-2.56
- 1.92
1.78
1.67
3,50
2.60
3.09
3.38
1.42
2.29
2.12
1.68
2.37
3.63
4.26
5.07
6.79
7.31
7.45
9.50
9.68
10.12
10.89
8.71
7.61
5.60
4.89
5.02
5.26
5.68
5.42
4.80
5.62
6.70
7.17
5.91
6.28
5.23
2.94
5.42
4.43
6.06
9.72
8.02
9.60
http://www. fhfa.gov/Default.aspx?Page=216&Type=compare&Area 1=24540&Area2=&A... 7/13/2009
Printable Page 1 of 2
11-4-4744.40.4- 2..
Greeley home prices see biggest drop in northern
Colorado
SHARON DUNN
Greeley -Evans housing prices have sunk lower than any other market in northern Colorado in the past year and
grown the least in the past decade, according to a report released Tuesday by Colorado State University's Everitt
Real Estate Center.
The good news, though, is that price depreciation has helped drive Greeley sales volumes higher than in other
markets.
"The message is, it's a good time to buy," John Gerhard, a research analyst with the real estate center, said of
the lower prices. "There's this perception that the market in general is declining and all the home sales are in
the tank, and that is simply not true."
The Greeley -Evans area was one of only two markets in northern Colorado where single family home sales
volume increased in 2008, Gerhard said. The Greeley -Evans area registered 2 percent more single family home
sales from 2007-2008, while Fort Collins sales dipped 15.6 percent and Loveland sales fell 13.9 percent in that
time.
"Initially, the average homeowner could get from this ... confidence in that there are neighborhoods that are
doing very well," Gerhard said of the report. "One of the problems we have now with the market is the wait -
and -see approach. They're just simply not convinced they're going to be able to sell their homes or the price is
that much less than where they were a couple of years ago."
The report, written to highlight the varying changes in neighborhoods rather than regions, details 11 markets in
northern Colorado, noting that only five appreciated in the past year. Greeley -Evans prices fell 8.2 percent from
2007-08, marking the largest decline; Johnstown -Milliken prices declined 3.6 percent in that time; and Windsor -
Severance dropped 2.9 percent.
All markets have appreciated since 1997, however, with Boulder-Gunbarrel gaining the most at 89.1 percent, and
Greeley -Evans the least at 7.9 percent.
Chalice Springfield, CEO of Sears Real Estate in Greeley, said she and the rest of the local real estate community
are not surprised. That's what goes with a declining market with high foreclosures. But, she added, 7.9 percent
is still growth.
"It's still not a loss on your investment, even if 10 years later you sett it for $107,900, there's still a $7,900
gain," Springfield said. "It may not be the return you're looking for, but at least it's not a loss."
Gerhard and Sriram Villupuram, an assistant professor in the Department of Finance and Real Estate, collected
data for the report somewhat different than most indices. It tracked prices by individual home sales, not by
county or by statistical areas, such as other indices. The report also included all transactions, including subprime
sales and those more than $417,000. Such sales are typically not reported.
Gerhard called the numbers "hyperlocal," meaning that every neighborhood is different, showing pockets of
growth that tend to get lost when averaging entire regional areas.
In the Greeley -Evans market, housing prices fell in all but three neighborhoods from 2007-08. The Arrowhead
neighborhood, south of 37th Street between 35th and 83rd Avenues, rose 22 percent, while two others around
Printable Page 2 of 2
the University of Northern Colorado appreciated 1 percent or less. The worst performing neighborhood in Greeley
was in the southeast corner of 11th Avenue and 16th Street, with prices dropping 59.7 percent — that was
actually right next door to the neighborhood with rising prices.
Growth around the colleges was a trend that was constant in Boulder, Fort Collins and Greeley, Gerhard said.
"I have noticed as I've gone through that the areas that have been strongest have been located around the three
major universities and the major employment centers in each of the municipalities," Gerhard said.
The best neighborhood in Fort Collins appreciated 10.5 percent, while the worst depreciation was 24.9 percent.
In Greeley, the best deals may have been snapped up. Most sales are occurring in price ranges below $200,000,
Gerhard said.
Springfield agreed, noting that inventory below $100,000 is shrinking rapidly. As of last week, the average home
price in Greeley had dropped 10 percent from the same time period last year, to $128,000 from $142,000.
"We've seen a ton of activity in the $100,000 and under range," Springfield said. "As more of that inventory gets
absorbed ... hopefully, it will push people up into $100-150 range. That's what will move the market. People
who haven't owned before will allow others to move up."
Gerhard said those price ranges represent some of the best deals. While they fell the hardest in the past five
years, they also rose the most during the good times. Homes priced about $168,000 remained relatively stable,
comparatively, the report noted, dropping just 1.1 percent.
Villupuram noted that banks may find a little more confidence in the real estate market with the report's more
detailed findings of neighborhoods. That, he said, may prompt them to start loaning again.
"Banks are getting conservative, and people who are even ready to take the bet and get a house are being
denied a loan," Villupuram said. "Banks are starting to realize maybe they're losing business. They're not getting
a good idea of what homes are doing well, so they (have been) missing out on some opportunities."
The center will issue this report twice a year from now on, with the next due in August.
http: / /www. greeleytribune.com/apps/pbcs. dll/article?AI D=/20090506 / NEW S/905069989Etparentprofile=search &template=printart
Assessor Sales Data Window
,4J-4--cL. J 3
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Improved Property Sales Search
Property Location
Parcel Number: 080721317016 (Mao)
Account Number: R0209595
Section: 21 Township: 06 Range: 67
Address: 907 VISTA CT , , WINDSOR
Description: MOUNTAIN VISTA 2ND
Sale Details
Reception Number: 3471392
Sale Date: 20 -Apr -07
Sale Price: $236,400.00
Grantor: DEUTSCHE BANK NATIONAL TRUST
Grantee: BOYACK ASHLEY E &
Property Characteristics
Year Built: 1995
Property Type: Residential
Land Type: Residential
Acres: 0.2341
Land SQ. FT.: 10200
Number of Buildings: 1
Primary Occupancy: Single Family Residential
Built As: 1 1/2 Story Fin
Exterior: Frame Vinyl
HVAC: Central Air to Air
Number of Rooms: 8 Number of Bedrooms: 3
Number of Baths: 4
Total SQ. FT.: 2010
Residential SQ. FT.: 2010 Commercial SQ.FT.: 0
Basement Fin.SQ.FT.: 1223Mezzanine SQ. FT.: 0
Garage SQ.FT.: 692 Condo SQ.FT.: 0
Carport SQ.FT.: 0
Porch SQ. FT.: 774
Balcony SQ.FT.: 0
Out Building SQ. FT.: 0
Close Window
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Assessor Sales Data Window
Page 1 of 1 '
Improved Property Sales Search
Property Location
Parcel Number: 080720207003 (Map)
Account Number: R1048896
Section: 20 Township: 06 Range: 67
Address: 1230 WALNUT ST , WINDSOR
Description: RIVER BEND SUB -WINDSOR
Sale Details
Reception Number: 3548651
Sale Date: 09 -Apr -08
Sale Price: $242,000.00
Grantor: MENGES EDWARD H JR
Grantee: MARCUS MICHAEL J &
Property Characteristics
Year Built: 1995
Property Type: Residential
Land Type: Residential
Acres: 0.27
Land SQ. FT.: 11750
Number of Buildings: 1
Primary Occupancy: Single Family Residential
Built As: 2 Story
Exterior: Frame Siding
HVAC: Forced Air
Number of Rooms: 9 Number of Bedrooms: 4
Number of Baths: 3
Total SQ. FT.: 2063
Residential SQ. FT.: 2063 Commercial SQ.FT.: 0
Basement Fin.SQ.FT.: 930 Mezzanine SQ. FT.: 0
Garage SQ.FT.: 440 Condo SQ.FT.: 0
Carport SQ.FT.: 0
Porch SQ. FT.: 504
Balcony SQ.FT.: 0
Out Building SQ. FT.: 0
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Assessor Sales Data Window
Page 1 of I
Improved Property Sales Search
Property Location
Parcel Number: 080721312003 (Map)
Account Number: R0216495
Section: 21 Township: 06 Range: 67
Address: 301 MEADOW DR , 80550, WINDSOR
Description: GOVERNOR FARM 1ST
Sale Details
Reception Number: 3497110
Sale Date: 16 -Jul -07
Sale Price: $226,000.00
Grantor: COCHRAN JO LEE R
Grantee: ALTON MICHAEL W &
Property Characteristics
Year Built: 1994
Property Type: Residential
Land Type: Residential
Acres: 0.1941
Land SQ. FT.: 8455
Number of Buildings: 1
Primary Occupancy: Single Family Residential
Built As: Ranch 1 Story
Exterior: Frame Hardboard
HVAC: Forced Air
Number of Rooms: 6 Number of Bedrooms: 5
Number of Baths: 3
Total SQ. FT.: 1622
Residential SQ. FT.: 1622 Commercial SQ.FT.: 0
Basement Fin.SQ.FT.: 1270Mezzanine SQ. FT.: 0
Garage SQ.FT.: 400 Condo SQ.FT.: 0
Carport SQ.FT.: 0
Porch SQ. FT.: 688
Balcony SQ.FT.: 0
Out Building SQ. FT.: 0
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Assessor Sales Data Window
Page 1 of 1
Improved Property Sales Search
Property Location
Parcel Number: 080721312003 (Mao)
Account Number: R0216495
Section: 21 Township: 06 Range: 67
Address: 301 MEADOW DR , 80550, WINDSOR
Description: GOVERNOR FARM 1ST
Sale Details
Reception Number: 3497110
Sale Date: 16 -Jul -07
Sale Price: $226,000.00
Grantor: COCHRAN JO LEE R
Grantee: ALTON MICHAEL W &
Property Characteristics
Year Built: 1994
Property Type: Residential
Land Type: Residential
Acres: 0.1941
Land SQ. FT.: 8455
Number of Buildings: 1
Primary Occupancy: Single Family Residential
Built As: Ranch 1 Story
Exterior: Frame Hardboard
HVAC: Forced Air
Number of Rooms: 6 Number of Bedrooms: 5
Number of Baths: 3
Total SQ. FT.: 1622
Residential SQ. FT.: 1622 Commercial SQ.FT.: 0
Basement Fin.SQ.FT.: 1270Mezzanine SQ. FT.: 0
Garage SQ.FT.: 400 Condo SQ.FT.: 0
Carport SQ.FT.: 0
Porch SQ. FT.: 688
Balcony SQ.FT.: 0
Out Building SQ. FT.: 0
Close Window
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