HomeMy WebLinkAbout20092603.tiffPETITION TO STATE BOARD OF ASSESSMENT APPEALS
1313 Sherman Street, Room 315 Phone: (303) 866-5880
Denver, Colorado 80203 Fax: (303) 866-4485
Date: September 17, 2009
Property Owner: Greeley Mall I/GKD Fund I LLC
Subject Property: 2050 Greeley Mall
Street Address City
Schedule Number(s): R4473006; R3761086 and R1044296
Greeley
Attach separate sheet if necessary
OBoard of Equalization
Appeals the decision of the Weld ❑ Board of Commissioners
County 0 State Property Tax Administrator
For Office Use Only
Docket No
Fee: Y N
Check/Credit Card #
P F H
Dated: 8/19/09
This Appeal concerns: iOValuation ❑ Refund/Abatement 0 Exemption 0 State Assessed Tax Year: 2009
The subject property is currently classified as:
0 Agricultural 0 Commercial ❑Exempt 0 Industrial ❑Mixed Use ❑ Natural Resources
❑ Oil & Gas LEI Personal ❑Possessory 0 Producing ,❑Residential ❑State Assessed
❑ Vacant Land Interest Mines
Actual Value assigned to subject property: $35,150,690 Petitioner's estimate of value: $26,053,000
Estimated time for Petitioner to present the appeal: minutes or 8 hours.
Not less than 30 minutes. Board will allow equal time to County or Property Tax Administrator.
Appearance:
0 Petitioner will be present at the hearing
0 Petitioner will be represented by an agent
❑ Petitioner will be represented by an attorney
CPetitioner will appear by telephone
Petitioner is responsible for calling the Board at 303-866-5880
on the scheduled date and time of hearing (Mountain Time Zone)
All entities must appear under the representation of an attorney licensed in Colorado. Closely held entities, however, require
no attorney if they are represented by an officer of the entity as long as the amount in controversy does not exceed $10,000,
exclusive of costs, interest or statutory penalties. A closely held entity can have no more than three owners. A trust need not
be represented by an attorney as it is not an entity.
Filing Fee:
❑ None Petitioner is appearing pro se (self -represented) and has not filed more than two Petitions with the Board
of Assessment Appeals during this fiscal year (July 1 — June 30).
❑ $ 33.75 Petitioner is appearing pro se (self -represented) and has filed more than two Petitions with the Board of
Assessment Appeals during this fiscal year (July 1 — June 30).
O $101.25 Petitioner will be represented by an agent or by an attorney.
In the space below, please explain why you disagree with the value assigned to the subject property
Assigned value exceeds market value.
rk0/ / S-t'7l �, %64=r w,of9-
f '> �.7-V •tq
2009-2603
Required attachments to this form:
0 Assessor's or Property Tax Administrator's Notice of Valuation or Notice of Denial
0 Decision of County Board of Equalization, County Board of Commissioners or Property Tax Administrator
Attachments required under certain circumstances:
D A notarized Letter of Authorization if an agent will be representing Petitioner
0 A list of names, last known addresses and telephone numbers of co -owners or parties directly interested in the subject
property if applicable.
Certificate of Service
I hereby certify that a true and correct copy of the foregoing Petition to the State Board of Assessment Appeals and
attachments were mailed, faxed or hand delivered to:
Weld
County
Board of Equalization
❑ Board of Commissioners
❑ State Property Tax Administrator
at the following address: P.O. Box 758, Greeley, CO 80632
on September 17, 2009
Date
I hereby certify that a true and correct copy of the foregoing Petition to the State Board of Assessment Appeals and
attachments were mailed, faxed or hand delivered to all co -owners or parties directly interested in the subject property
on September 17, 2009
Date
I hereby certify that four (4) true and correct copies of the foregoing Petition to the State Board of Assessment Appeals
and attachments were mailed or hand delivered to the Board of Assessment Appeals at 1313 Sherman Street, Room
315, Denver, CO 80203 on September 17, 2009
Date
(One copy may be faxed to the Board but the original and two additional copies must be mailed or hand delivered.)
Petitioner's Mailing Address is Required Even if Petitioner is Represented by An Agent or Attorney (per C.R.S.
39-8-109)
Thy
Signature of Agent 0 or Attorney
Thomas E. Downey, Jr.
Printed Name
383 Inverness Parkway, Suite 300
Mailing Address
Englewood, CO 80112
City, State, Zip Code
Telephone: (303)813-1111
E -Mail: ted@downeymurray.com
Attorney Reg. No.: 9686
Signature of Petitioner
Greeley Mall I/GKD Fund I, LLC
Printed Name
2050 Greeley Mall St.
Mailing Address
Greeley, CO 80631
City, State, Zip Code
Telephone:
Daytime number
E -Mail:
It is the Petitioner's responsibility to notify the BAA of any
change of address.
Petitioners are strongly encouraged to read the Instructions and Rules of the Board of Assessment Appeals prior to
completing this Petition Form. The Instructions and Rules are available on the Web at www.dola.Colorado.gov/baa or
may be requested by phone at 303-866-5880.
COLORADO
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4226
FAX: (970) 352-0242
P. O. BOX 758
GREELEY, COLORADO 80632
August 19, 2009
GREELEY MALL I/GKD FUND I LLC
O/O GK DEVELOPMENT INC
303 EAST MAIN ST STE 201
BARRINGTON, IL 60010
RE: THE BOARD OF EQUALIZATION, 2009, WELD COUNTY, COLORADO -
ADMINISTRATIVE DENIAL OF PETITIONER'S APPEAL AND AFFIRM
ASSESSOR'S VALUE
DESCRIPTION OF PROPERTY: ACCOUNT #: R4473006 PARCEL #: 096119218001 - GR GM
LOT 1 GREELEY MALL MINOR (IMPS ONLY PERKINS RESTAURANT 096119200057) SITUS:
2050 GREELEY MALL ST GREELEY 806310000
Dear Petitioner:
On July 31, 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 your request for an Administrative Denial of your petition of appeal of the County
Assessor's valuation of your property described above, for the year 2009.
The assessment and valuation of the Weld County Assessor was affirmed as follows:
ACTUAL VALUE AS
DETERMINED BY
ASSESSOR
ACTUAL VALUE AS
SET BY BOARD
$31,558,530 $31,558,530
2009-1853
AS0073
REAL AND PERSONAL PROPERTY
NOTICE OF DETERMINATION
Christopher M. Woodruff
WELD Assessor
1400 N 17th Ave
GREELEY, CO 80631
Date of Notice: 6/24/2009
Telephone: (970) 353-3845
Fax: (970) 304-6433
Office Hours: 8:00 AM - 5:00 PM
al. �, r,,, 4Atk4yumatin sii(i�IE-,2y,
,(i,BCHEDULEI'000UN,ITN06'(
to•4OIW,(DIt„,L;(i(dirkA64n5i!I/),d.r�i��',Lii,S`fl�
, P wr(+ W I',
'(IA�X�Y,EuARhy((YlrAXzARE''Sr°II�'rlII�
IV'IWJI�9'(��iSI,t
(H i 11)1(n,'01141 f
CU,' VAIILp1i
tf{�91 fitu`S'LE'0 1k ES IP, o •'10,'f i( ml:
glln�y 1 �W'Rr+It'9''r"�)"'"llltif +ita(Iip��
Mr'"<,(Ill �'I':TP.HY510'ALunctA•.IIIO sri ll Is
R4473006
2009
4049
GR GM LOT 1 GREELEY MALL MINOR
(IMPS ONLY PERKINS RESTAURANT
096119200057) SITUS: 205D GREELEY
MALL ST GREELEY 806310000
2050 GREELEY MALL ST
GREELEY, CO 806310000
(;!IIII
n'ai
uzd
;,
;rol
'
twi
(wi
d;
Tel
S
GREELEY MALL I/GKD FUND I LLC
C/0 GK DEVELOPMENT INC
303 EAST MAIN ST STE 201
BARRINGTON, IL 60010
la).
3j I} 'rCl lati i)if}q'v� !'iaakK',:'.'�1 �4
iul ( .ISR 1
o a �„u rI,QROPER1 �C YAKS,rSIF.I
i'.- hi0&1x4n. :�n '1..r '�sl'�r',!(n1;V;it
�'1"i
1/(j 1){1* f ASSESS0R'.S�vAUtPA II0NIY 17( t} t%ilT' i 11'
Yj11}r �i'{J fF'ul+d��1„
,('$
AT10Nt.""riir a -ill` "`do-
i""Y;S,�ti��is;Y;. s
' ACTUAL VAIMUEIPRIORyt
(f'f,'z(l4Y}n1p i3 -.,;, 17ft./11,�ACl7)1,-,
�1!,.. :'REVIEWn°'' 1,i itiVIi
r A Pr�i'{,lnkUfrld as n i
H EVIE�W"ii{hTER�-r
., Lt,(`t',Map,,kia0..:1JIfi..:'
COMMERCIAL
31,558,530
31,558,530
1s`t�°` TOjRAis �"ni
,U L ,
$31,558,530
$31,558,530
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:
LHO2 - No change has been made to the valuation of this property. Colorado law requires us to send
this notice of denial for all properties on which we do not adjust the value.
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.
DOWNEY & MURRAY LLC
383 INVERNESS PARKWAY SUITE 300
ENGLEWOOD CO 80112
15 -DPI -AR
PR 207-00/08
)`q..t {,.r1 ` llP:EALtP,RD.DEDURESi,hu.•
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 mall 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
wwvii.dola.colorado.ciov/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.
tattV:ttitMictIONE&NittPt tREItITION',FFOCOLINTIY8OARD{OFEQU'ALIZATIONtR
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.)
$ Gaiz�f.��
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.)
r2-717 . f
htt;k5i0t, d, -,_•''_.,ATTESTATION r�.14i +._ �Fl; ki ! ',
I, the undersigned owner or agent' of the property identified above, affirm that the statements
contained her i and on any attachments hereto are true and complete.
Signature ' Telephone Number Date
Attach letter of authorization signed by property owner.
15 -OPT -AR
PR 207-08/00
NOD 11: 7493
EXHIBIT "A"
ATTACHMENT TO COUNTY BOARD OF EQUALIZATION PETITION OF
GREELEY MALL Mall I/GIGO FUND I LLC, SCHEDULE NUMBERS
R4473006, R3761086 and R1044296
1. The Assessor has failed to give appropriate consideration to all the requisite approaches
to valuation in determining the value of the property.
2, The current year actual value assigned by the assessor does not reflect the actual value of
the subject property during the 18 month period ending June 30, 2008.
3. Upon consideration of all the approaches to value, values given to comparable land and
improvements and upon consideration of the requirements of Colorado law that require
that assessments be uniform, just and equitable, a reduction in the current year actual
value of this property is warranted.
4. The $31,558,530 value assigned to schedule numbers R4473006 for 2009, which
represents a increase of approximately 20% over the 2008 value, is excessive and should
be reduced. Review of the actual income and expenses indicates of value of
approximately $25,000,000. We request that the value be reduced to $25,000,000.
5. The $3,304,560 value assigned to schedule numbers R3761086 for 2009 is excessive
and should be reduced. Review of the actual income and expenses indicates of value of
approximately $983,000. Dillards vacated the property in May, 2008. The was 100%
vacant as of the January 1, 2009 assessment date. We request that the value be reduced
to $983,000.
6. The $287,600 value assigned to schedule numbers R1044296 for 2009 is excessive and
should be reduced. Review of the actual income and expenses indicates of value of
approximately $70,000. Pizza Hut vacated the property. The was 100% vacant as of the
January 1, 2009 assessment date. We request that the value be reduced to $70,000.
7. Analysis of this property is ongoing. Further quantification of the economic
obsolescence and other market factors may warrant a further reduction in the requested
value.
:1'T)
COLORADO
August 19, 2009
DILLARDS PROPERTY TAX DEPT
4501 N BEACH ST
FORT WORTH, TX 76137
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4226
FAX: (970) 352-0242
P. O. BOX 758
GREELEY, COLORADO 80632
RE: THE BOARD OF EQUALIZATION, 2009, WELD COUNTY, COLORADO -
ADMINISTRATIVE DENIAL OF PETITIONER'S APPEAL AND AFFIRM
ASSESSOR'S VALUE
DESCRIPTION OF PROPERTY: ACCOUNT #: R3761086 PARCEL #: 096119218020 - GR
12780-A IMPS ONLY DILLARDS PT N2NW4 19 5 65 (YORK 1ST ANNEX) SITUS: 1840
GREELEY MALL GREELEY 80631
Dear Petitioner:
On July 31, 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 your request for an Administrative Denial of your petition of appeal of the County
Assessor's valuation of your property described above, for the year 2009.
The assessment and valuation of the Weld County Assessor was affirmed as follows:
ACTUAL VALUE AS
DETERMINED BY
ASSESSOR
ACTUAL VALUE AS
SET BY BOARD
$3,304,560 $3,304,560
2009-1852
AS0073
REAL AND PERSONAL PROPERTY
NOTICE OF DETERMINATION
Christopher M. Woodruff
WELD Assessor
1400 N 17th Ave
GREELEY, CO 80631
Date of Notice: 6/24/2009
Telephone: (970) 353-3845
Fax: (970) 304-6433
Office Hours: 8:00 AM - 5:00 PM
hr...1' iiilli(iQtWil'1ill4fid4flWd'jt*'
' �X 1' 9''AR I -I
'� iWtSi8?O, n�!
o /ARE' gsnjl
�1'"tl} rdl±*I,intm411fIriSA'6kl'rit
�Ut'��`l6lLEG"FAI.I.OE90f2IPiTIION/¢ff1`'a'?
poN.' ,i, t,i oM„ u, u+aj4 n"u� w, ',,,nfv'�''
�il'S1xi \i111RHY'SICALtrIZOCATION ?li,��,
f
fi11ik6A 348I}&s4UN5'"fl ktgxtk'=;ill
{p�s "SOHEDU E/'AOOOU NO
#lout i4iip rill HIU}l'1$fisktil`�it4N II
fl'iij.
1t'
' L
R3761086
2009
4049
GR 12780-A IMPS ONLY DILLARDS PT
N2NW4 19 5 65 (YORK 1ST ANNEX) SITUS:
1840 GREELEY MALL GREELEY 80631
1840 GREELEY MALL
GREELEY, CO 80631
A
wI
!ij`
)4
I
'i
4
10,
wet.
k 1O.1
DILLARDS PROPERTY TAX DEPT
4501 N BEACH ST
FORT WORTH, TX 76137
j6,, ."ygtl' ut ,1j , "rJ,�vIl'°"Pj(tf"'ti�l`A1�y��y�;°�a''t'Ihitl �,,, d�,�ryldJt``
S'# ti �, c41l {1'MKP'ill);"." ti"StiI.5"'k1%,''A ds, i ,, 4`{kr`,
P.T�ETr;`a1L 7 i�t'W�IVAl I,�i,�,7l."�`N��g
ry iF i"r0 It
"1 ' `' i, 'w' I i �jt,}r`ri ,.--„6flptl
y't✓ii""i44ASSESSOR sutsalUATIONwWu ii ", ,
1,kbTtUAL�\1tZKIIILlE�iPRIORr ,
p,.1i(2i`4w',1371j}�'�irb4''1EUIEf
'$ROIEW d �,lh".raf? A
4,A0si1L'IALhV/ reli ,•0iERf�`..
4 Nrrl
�,ft4f ,rE,'t, t r.,; i h r �,,1,�1. k I.r,t,;,,
COMMERCIAL
3,304,560
3,304,560
" am'r d ':, Wit'
dal bAe�' eT01T/A41-r,{a itv;
$3,304,560
$3,304,560
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:
LHO2 - No change has been made to the valuation of this property. Colorado law requires us to send
this notice of denial for all properties on which we do not adjust the value.
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.J.
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.
DOWNEY & MURRAY LLC
383 INVERNESS PARKWAY SUITE 300
ENGLEWOOD CO 80112
15-DPT-AR
PR 207-05/08
ii4 eiiigl ZIS.,fll YiaFtIpAP,PEAL)PRQCBDURES,W46auit L4!h',*i.'1A ,
County Board of Equalization Hearings will be held from
July 1 through August 5 at
91510°i 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 B0632
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-B-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
1313 Sherman Street, Room 315
Denver, CO 80203
(303) 866-5880
www.dola.colorado.gov/boa
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.
TO;C'OUNTYiiBO:4RDVEIiEQU'ALIZ'ATION 1
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.)
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.)
District Court
9w Avenue and 9°i Street, P.O. Box C
Greeley, Colorado 80632
Telephone (970) 356-4000 Ext. 4520
efi /9 dd
L,li i' 1 l�s N, }" t I i( I I �
>>Nd�rAT,TESfiATIDN .��4,,,. N.
I, the undersigned owner or agent' of the property identified above, affirm that the statements
contained hey.et jd on any �4tta hments her to are true and complete.
L-G77t4a l u'.7 t3 &'&'- al.5 //i /S�C7
/S-
ignature Telephone Number Date
Attach letter of authorization signed by property owner.
EXHIBIT "A"
ATTACHMENT TO COUNTY BOARD OF EQUALIZATION PETITION OF
GREELEY MALL Mall I/GICD FUND I LLC, SCHEDULE NUMBERS
R4473006, R3761086 and RI 044296
1. The Assessor has failed to give appropriate consideration to all the requisite approaches
to valuation in determining the value of the property.
2. The current year actual value assigned by the assessor does not reflect the actual value of
the subject property during the 18 month period ending June 30, 2008.
3. Upon consideration of all the approaches to value, values given to comparable land and
improvements and upon consideration of the requirements of Colorado law that require
that assessments be uniform, just and equitable, a reduction in the current year actual
value of this property is warranted.
4. The $31,558,530 value assigned to schedule numbers R4473006 for 2009, which
represents a increase of approximately 20% over the 2008 value, is excessive and should
be reduced. Review of the actual income and expenses indicates of value of
approximately $25,000,000. We request that the value be reduced to $25,000,000.
5. The $3,304,560 value assigned to schedule numbers R3761086 for 2009 is excessive
and should be reduced. Review of the actual income and expenses indicates of value of
approximately $983,000. Dillards vacated the property in May, 2008. The was 100%
vacant as of the January 1, 2009 assessment date. We request that the value be reduced
to $983,000.
6. The $287,600 value assigned to schedule numbers RI 044296 for 2009 is excessive and
should be reduced. Review of the actual income and expenses indicates of value of
approximately $70,000. Pizza Hut vacated the property. The was 100% vacant as of the
January 1, 2009 assessment date. We request that the value be reduced to $70,000.
7. Analysis of this property is ongoing. Further quantification of the economic
obsolescence and other market factors may warrant a further reduction in the requested
value.
110€.
COLORADO
August 19, 2009
PREFERRED INCOME INVESTORS LLC
DBA PIZZA HUT - GREELEY MALL
O/O RESTAURANT MANAGEMENT COMPANY
3020 N CYPRESS RD STE 100
WICHITA, KS 67226
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4226
FAX: (970) 352-0242
P. O. BOX 758
GREELEY, COLORADO 80632
RE: THE BOARD OF EQUALIZATION, 2009, WELD COUNTY, COLORADO -
ADMINISTRATIVE DENIAL OF PETITIONER'S APPEAL AND AFFIRM
ASSESSOR'S VALUE
DESCRIPTION OF PROPERTY: ACCOUNT #: R1044296 PARCEL #: 096119218052 - GR
12780-S IMPS ONLY PTN2NW4 19 5 65 (YORK 1ST ANNEX) (LAND PIN #0135195) SITUS:
2263 GREELEY MALL GREELEY 806310000
Dear Petitioner:
On July 31, 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 your request for an Administrative Denial of your petition of appeal of the County
Assessor's valuation of your property described above, for the year 2009.
The assessment and valuation of the Weld County Assessor was affirmed as follows:
ACTUAL VALUE AS
DETERMINED BY
ASSESSOR
ACTUAL VALUE AS
SET BY BOARD
$287,600 $287,600
2009-1851
AS0073
REAL AND PERSONAL PROPERTY
NOTICE OF DETERMINATION
Christopher M. Woodruff
WELD Assessor
1400 N 17th Ave
GREELEY, CO 80631
Date of Notice: 6/24/2009
Telephone: (970) 353-3645
Fax: (970) 304-6433
Office Hours: 8:00 AM - 5:00 PM
f, 14t,,,« arnrov fsd0d4J,n
Al㤤Sail DW4EAD00U
td�rrp,„;;flupl+�i^;fah,Eyytll,fiN0M.., r�1A'A
Atf r14'I,tflr,4y°,;x
Q�4 1;.'rq/�'YltiE1RR}
Sryl'o
Qsrttil l,y
!;,00.. ta`�u411r71i% Ih„)'I',y9R$jq,Yy1
' 4 a1;'ha3i'� �
1ri4X,AR4 utl
II
] �� kjfIt40?L6d Lir- , , m(CNll f
i ; 'sal , a .«i A/fia11,, GA, "Av.k4)�f(vtY'ri-'t
Y,'/f.;l;ldtl4"!''t§♦xwbleAlAlitegIDNtt�,l.�it,f"..:u;idt
'G f '?,'j.:f�I
t(
R1044296 2009 4040
GR 12780-S IMPS ONLY PTN2NW4 19 5 65
(YORK 1ST ANNEX) (LAND PIN 40135195)
w
,M
d
a
:o
i;a
Ayy
]
PREFERRED INCOME INVESTORS LLC DBA
C/O PIZZA HUT - GREELEY MALL
3020 N CYPRESS RD No. 100
WICHITA, KS 67226
SITLIS: 2263 GREELEY MALL GREELEY
606310000
2263 GREELEY MALL
GREELEY, CO 806310000
'S5iti/rh'rSr I�V'49j" 4: F�1'nt/?itif�t`;K}',, .1fc��Y,`'§f,�r`'k
f rj,1� ,}Rdi th,r 3 H�IC,47IIOM'r�r't
,Iff "� P i ,s r `:t I N ,�1 ttr } aka,
Yiy+'y, ; r ., I "„(ti ;)E r 11
(xlk)r�ti�dA3�+ufTJ'u!4t�)
a§All V_'„t`ill;�4; 3;., }'/,tl fJ,�S42€e rrile<j t tt tln3f .W. e�)1Li
�s x
{d <
...t iiYh,.,
1,1,,4 j.'§1;CSSESSOR5`hU/•AL'IU'A+TiIONi"!§p't
tifVA.c:pi i.A'i.l.4av LlItg RIOR«j.,,'Cinl1ALV'SLl't�AF�ItER
� , °�{ l t, i i ,..K vil 1;� 1j1 vi 0,.ti
1 4`L ! V�t� >naF hz ,� I�tC a '
Sya, ,tr �nf4A•la,t
s04 .tyrydi, R&UIE AV`af .lrjytl,
)
�k § a7. y rnxsa ,,,....„,,,,,,,f,,,„‘„,h.+
.� { s �4REYIEW��ifs §ti
,� j,d 3r i" {V1u I t.d s.-
COMMERCIAL
287,600
287,600
OTO }j;,rj,
$287,600
$287,600
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:
LH02 - No change has been made to the valuation of this property. Colorado law requires us to send
this notice of denial for all properties on which we do not adjust the value.
If you disagree with the Assessor's decision, you have the right to appeal to the
County Board of Equalization for further consideration, § 39 -B -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.
DOWNEY & MURRAY LLC
383 INVERNESS PARKWAY SUITE 300
ENGLEWOOD CO 80112
15 -OPT -AR
PR 207-00100
lidAf'1.,r"pl�,IHflli5ilu
County Board of Equalization Hearings will be held from
July 1 through August 5 at
915 101h Street, Greeley, CO
To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown
below, and mall or deliver a copy of both sides of this form to:
WELD COUNTY BOARD OF EQUALIZATION
915 10'" 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 mall 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°i Street, P.O. Box C
Denver, CO 80203 Greeley, Colorado 80532
(303) 866-5880 Telephone (970) 356-4000 Ext. 4520.
www.dole.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 businessday, § 39-1-120(3), C.R.S.
a;1; .", iP,ETITIO.N,hRoiO.Q.LINiPY'?BOFlRDYOF,IEQUALIZ%ATION ,, . * ' k`
What is your estimate of the property's value as of June 30, 2006? (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.)
$777l»
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.)
rill' katcnr,lr rgli. iPf'tli. t°l Is�ry�,a„Itrrel,.fi"tt/AT4TES,MAlTilON'za,',AIlia nontr1q1
I, the undersigned owner or agent' of the property identified above, affirm that the statements
_riontained rei and on ny attachments hereto are true and complete.
4O91iV-.42, 4 94 _3/ -///) /ice/c7
Signature U Telephone Number Date
'Attach letter of authorization signed by property owner.
lb -OPT -AR
PR 207-08/06
EX}I1BIT "A"
ATTACHMENT TO COUNTY BOARD OF EQUALIZATION PETITION OF
GIREELEY MALL Mall 1/GICD FUND I LLC, SCHEDULE NUMBERS
R4473006, 83761086 and RI 044296
1. The Assessor has failed to give appropriate consideration to all the requisite approaches
to valuation in determining the value of the property.
2. The current year actual value assigned by the assessor does not reflect the actual value of
the subject property during the 18 month period ending June 30, 2008.
3. Upon consideration of all the approaches to value, values given to comparable land and
improvements and upon consideration of the requirements of Colorado law that require
that assessments be uniform, just and equitable, a reduction in the current year actual
value of this property is warranted.
4, The $31,558,530 value assigned to schedule numbers R4473006 for 2009, which
represents a increase of approximately 20% over the 2008 value, is excessive and should
be reduced. Review of the actual income and expenses indicates of value of
approximately $25,000,000. We request that the value be reduced to $25,000,000.
5. The $3,304,560 value assigned to schedule numbers R3761086 for 2009 is excessive
and should be reduced. Review of the actual income and expenses indicates of value of
approximately $983,000. Dillards vacated the property in May, 2008. The was 100%
vacant as of the January 1, 2009 assessment date. We request that the value be reduced
to $983,000,
6. The $287,600 value assigned to schedule numbers R1044296 for 2009 is excessive and
should be reduced. Review of the actual income and expenses indicates of value of
approximately $70,000. Pizza Hut vacated the property. The was 100% vacant as of the
January 1, 2009 assessment date. We request that the value be reduced to $70,000.
7. Analysis of this property is ongoing. Further quantification of the economic
obsolescence and other market factors may warrant a further reduction in the requested
value.
DOWNEY & MURRAY LLc
ATTORNEYS AT LAW
September 17, 2009
Mr. J. Michael Beery
Administrator for the Board
Board of Assessment Appeals
1313 Sherman Street, Room 315
Denver, CO 80203
Thomas E. Downey, Jr.
303 813-1111
ted& 1downeymurray.com
Re: GREELEY MALL I GKD FUND I LLC. v. WELD COUNTY
BOARD OF COUNTY COMMISSIONERS -- 2009 TAX APPEAL --
ACCOUNT NOS. R4473006; R1044296; R3761086
Dear Mr. Beery:
Please find enclosed for filing an original and three (3) copies of the above
referenced BAA Petition to the State Board of Assessment Appeals. In addition, we have
enclosed an extra copy of the Petition to be date -stamped and returned to the messenger for round
trip delivery. A filing fee check in the amount of $101.25 is also enclosed.
Please call if you have any questions concerning this appeal. Thank you for your
assistance.
Very truly yours,
Thomas E. Downey, Jr.
TED/ss
Enclosures
cc: Weld County Board of Commissioners (w/enc.)
D. Lakowski
383 Inverness Parkway o Suite 300 n Englewood, Colorado 80112 0 fax 303 813-1122
Hello