HomeMy WebLinkAbout20091832.tiffCLERK TO THE BOARD
1
WilDe
COLORADO
August 10, 2009
CONQUEST HOLDINGS LTD LIABILITY CO
8207 W 20TH ST STE B
GREELEY, CO 80634
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 - DENY
PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE
DESCRIPTION OF PROPERTY: ACCOUNT #: R3304705 PARCEL #: 095908325007 - GR
1MVOP L5A MOUNTAIN VISTA OFFICE PARK 1ST RPLT SITUS: 8203 W 20 ST GREELEY
806340000
Dear Petitioner:
On 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 petition of appeal of the County Assessor's valuation of your property described
above, for the year 2009.
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
DETERMINED BY
ASSESSOR
ACTUAL VALUE AS
SET BY BOARD
$640,200 $640,200
2009-1832
A,
AS0073
CONQUEST HOLDINGS LTD LIABILITY CO - R3304705
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 Courts 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
2009-1832
AS0073
CONQUEST HOLDINGS LTD LIABILITY CO - R3304705
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,
j
Esther E. Gesick
Deputy Clerk to the Board
cc: Christopher Woodruff, Assessor
CLIFTON NEELEY
8217 W 20TH ST
GREELEY, CO 80634
2009-1832
AS0073
Weld Count,
CHRISTOPHER M. WOODRUFF COUNTY ASSESSOI
BRENDA DONES, DEPUTY ASSESSO
VALUATION REPORT
OF
COMMERCIAL PROPERTY
FOR
County Board of Equalization
CONQUEST HOLDINGS LTD LIABILITY CO
PETITIONER
VS.
WELD COUNTY ASSESSOR'S OFFICE
RESPONDENT
Parcel Number: 0959-08-3-25-007
Schedule Number: R3304705
Log Number: 714
Date: 8/5/2009
Time: 1:45 PM
Board: CBOE
PREPARED BY
STAN JANTZ
Signature Date
CBOE_COMM_01
Pa
//CO- /83
SALIENT FACTS AND CONCLUSIONS
Purpose of Appraisal To determine Market Value as of 1/1/09 based on an
appraisal date of 6/30/08.
Property Rights Appraised Unencumbered fee simple interest.
Location 8203 W 20 ST
GREELEY
Land Area 15,868 Square Feet
Property Type Commercial
1— Office Building
Year Built 2004
Year Remodeled
Quality Average
Class Wood Frame
Number of Stories 1
Improvement Sq. Ft. 3,880
Basement Unfinished Sq. Ft. 3,880
Basement Finished Sq. Ft.
Value Indications:
Land $158,680
Cost Approach $626,608
Market Approach $679,000
Income Approach $663,000
Assessor's Value $640,200
CBOE_COMM_01O
Pagi
COST APPROACH
LAND VALUE
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 15,868 square feet and is valued at $10.00 per square foot.
Comparable 1
Comparable 2
Comparable 3
Address
Sale Date Sale Price Land Size Per Sq Ft
Mountain Vista Office Park
8201 W 20th Street
Greeley
1/17/06 $645,000 67,782 9.52
(three lots)
Fox Run Business Park
1813 61st Avenue
Greeley
1/3/07
$373,755
38,115 9.81
Mountain Vista Office Park
8217 W 20th Street
Greeley
3/1/05
$215,000
22,085 9.74
ASSESSOR'S SUBJECT LAND VALUE
$10.00 X 15,868 S.F. = $158,680
Land Sales Map
CBOE_COMM 01C
Pac
Subject Photos & Sketch
First Floor 3880 0'
4
8.0' i
o:Mensb';= •mensP
88.0'
I 110' 1
inl Vestibule IN
th: 104 5' 1m
1
80.0' o' Canopy
ail 121.0' to
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 $469,928
Land Value $158,680
TOTAL VALUE BY THE COST APPROACH
$626,608
CBOE_COMM_01 C
PaG
MARKET APPROACH
COMPARABLE OFFICE SALES
#
ADDRESS
Grantor/Grantee
Date of
Sale
Sale Price
Square
Foot
Price
Per Sq
Ft
Subject
8203 W 20t Street
Greeley
3,880
165
1
4675 20th Street
Greeley
Warkentin Construction /
Lancelot Holding LLC
4/10/2008
$700,000
4,316
162.18
2
4627 20TH STRD
Greeley
Landmark I LLC /
S E 2 Limited Liability
4/27/2006
$950,000
5,572
170.49
3
7251 20th Street
Greeley
Tom Keberlein /
Haythorn Commercial Properties
2/28/2006
$1,500,000
8,154
183.95
4
8219 W 20th Street
Unit 1
Greeley
Prothe Properties /
Kaleb Holdings LLC
5/9/2008
$300,000
1,708
175.64
5
8219 W. 20th Street
Unit 2
Greeley
Prothe Properties /
Holiday Manor LLC
8/30/2007
$330,000
1,672
197.36
THE AVERAGE FOR ALL FIVE MARKET SALES IS $177.92 PER SQUARE FOOT
MARKET CALCULATIONS
SUBJECT 3,880 SQ. FT. TIMES $175.00 PER SQ. FT. EQUALS $679,000
Market Sales Ma
CBOE_COMM_011
Pa!
Comparable Number 1
COMPARABLE SALE
ACCOUNT
PRIMARY OCC: Office
SECONDARY OCC:
THIRD OCC:
ADDRESS:
R085230I
4675 20 S'I'RD GREELEY
RECEPT NUMBER: 3547759
GRANTOR: WARKENTIN R A CONSTRUCTION
GRANTEE: LANCELOT HOLDING LLC
YEAR BUILT: 2000
EFFECTIVE AGE:
LAND SIZE (SF):
BLDG SIZE (SF): 4,316
WALL HEIGHT: 10
STORIES: 1
BSMNT SIZE: 1,062
BSMNT FINISH:
ZONING:
QUALITY:
GRE CL
Average
to•khbr k.. r.r•
85 3'
30 0'
Canopy
4?0 0 SF
I
I
12 :131111111
116.
19 0'
33 2'
COUNTY: WELD
PARCEL NUMBER: 095914224001
PERCENT: 100%
PERCENT:
PERCENT:
SALE DATE:
SALE PRICE:
ADJ SALE PRICE:
CLASS:
LAND/BLDG RATIO:
LAND VALUE:
IMPS PRICE/SF:
SALE PRICE/SF:
INTEREST RATE:
DOWN PYMT:
LOAN TERM (YRS):
POINTS PAID:
4/10/2008
$700.000
D
$162.18
C anopy
2390SF
COMMENTS: LOWER RANGE SELLING PRICE DUE TO SELLER WITH FINANCAL ISSUES.
BASEMENT UNFINISHED STORAGE.
19 0'
First Floor 4316.0 SF
Basement Storage 1062 0 SF
CBOECOMM 010
Pag
Comparable Number 2
COMPARABLE SALE
ACCOUNT
PRIMARY OCC: Office
SECONDARY OCC:
THIRD OCC:
R2975204
ADDRESS: 4627 20 STRD UNIT -1 GREELEY
RECEPT NUMBER: 3383086
GRANTOR: LANDMARK I LLC
GRANTEE: S E 2 LAND LIMITED LIABILITY
YEAR BUILT: 2004
EFFECTIVE AGE:
LAND SIZE (SF):
BLDG SIZE (SF): 5,572
WALL HEIGHT: 12
STORIES: I
BSMNT SIZE:
BSMNT FINISH:
ZONING:
QUALITY: Good
COMMENTS:
d
34
0'
13 3' of y
Cdic• Jo
204 2' _1—
312
0" 9 8.;24
—Tilt
3 � �
V
128' 1
0'
Office Condo
First Floor 55720'
SA 2004
320'
Ih
'..w.n,. M• N••
20 B'
Open OSce
Olficta 1024.4'
740'
Pb
340'
34 0'
; (Ace ;Copy Room ;
1 Os 4r; n 195V An: ✓.xAawm
Clan .b 130'•
11 0'
_1stnye
OAcs qk pMnNft Laic
27.0'
Offices
3420'
270'
420'
'tit
I-
n. 30'
roar—
s-•
{ . e cr. I _�_a'. , -
Re[opbon 160' ;6 1d
t
'^ Croy !:
'a
160'
Tenant Finlsh (2004)
COUNTY: WELD
PARCEL NUMBER: 095914235001
PERCENT: 100%
PERCENT:
PERCENT:
SALE DATE:
SALE PRICE:
ADJ SALE PRICE:
CLASS:
LAND/BLDG RATIO:
LAND VALUE:
IMPS PRICE/SF:
SALE PRICE/SF:
INTEREST RATE:
DOWN PYMT:
LOAN TERM (YRS):
POINTS PAID:
BUILDING 100% OCCUPIED AT TIME OF PURCHASE.
4/27/2006
$950.000
D
$ 170.49
26 0'
OAicss 7621
420'
420
i`
30'
CBOE_COMM_01(
Pac
Comparable Number 3
COMPARABLE SALE
ACCOUNT
PRIMARY OCC:
SECONDARY OCC:
THIRD OCC:
R1357202
Office
a.
Told First Flea 6,154 sq e
Finish Bsnd 1617 sq
16097
50.50*
}
temp
as
n
1*:
31 At
tMK
Minkel OSe
Finished
1;N70sa a
Finithed
16170
31.W
11000.1.n AP'
Q
Medical Oat
8112002
Class D
Palter Au
10* wt1
3*1Opt
13.17
72 Zs
a
O .h
II
wa SlOOna lI
Finished 2006
1,6810 so
DM
� •Mftweiteratt
;$
Q700'
COUNTY: WELD
PARCEL NUMBER: 095908401005
PERCENT: 100%
PERCENT:
PERCENT:
ADDRESS: 7251 20 ST UNITS - J & K GREELEY
RECEPT NUMBER: 3367057 SALE DATE:
GRANTOR: TOM KEBERLEIN CONSTRUCTION LLC SALE PRICE:
GRANTEE: HAYTIIORN COMMERCIAL PROP LLC ADJ SALE PRICE:
YEAR BUILT: 2002
EFFECTIVE AGE:
LAND SIZE (SF): 54,144
BLDG SIZE (SF): 8,154
WALL HEIGHT: 10
STORIES: 1
BSMNT SIZE:
BSMNT FINISH:
ZONING: GRE CH
QUALITY: Average
COMMENTS: MULTIPLE TENANT BUILDING.
CLASS:
LAND/BLDG RATIO:
LAND VALUE:
IMPS PRICE/SF:
SALE PRICE/SF:
INTEREST RATE:
DOWN PYMT:
LOAN TERM (YRS):
POINTS PAID:
2/28/2006
$1,500.000
D
6.64
$292,378
$148.10
$183.95
It,
0
VedJ
WMMSIMdM.
j;A 1.492.0at
Litt
It use °A2
8C- 31.CC
CBOE_COMM _01C
Pac
Comparable Number 4
COMPARABLE SALE
ACCOUNT
PRIMARY OCC: Office
SECONDARY OCC:
THIRD OCC:
ADDRESS:
R4925007
8219 W 20 ST UNIT -A GREELEY
RECEPT NUMBER: 3552880
GRANTOR: PROTHE PROPERTIES LLC
GRANTEE: KALEB HOLDINGS LI,C
YEAR BUILT: 2005
EFFECTIVE AGE:
LAND SIZE (SF):
BLDG SIZE (SF):
WALL HEIGHT:
STORIES:
BSMNT SIZE:
BSMNT FINISH:
ZONING:
QUALITY:
COMMENTS:
1.708
10
1
583
Average
Sale included interior finish.
II 07
*97Cott* $90081
$: Was Ra.ne •
g tow(I
g
72 2J
*Oa M k. M.
a
4i
Concrete
£7988$$
1207
COUNTY: WELD
PARCEL NUMBER: 095908329001
PERCENT: 100%
PERCENT:
PERCENT:
SALE DATE: 5/9/2008
SALE PRICE: $300.000
ADJ SALE PRICE:
CLASS:
LAND/BLDG RATIO:
LAND VALUE:
IMPS PRICE/SF:
SALE PRICE/SF:
INTEREST RATE:
DOWN PYMT:
LOAN TERM (YRS):
POINTS PAID:
D
$175.64
r$
M
Frit FIuoc3:46)
30)57
-.4
CBOECOMM _010
Pag
Comparable Number 5
COMPARABLE SALE
ACCOUNT
PRIMARY OCC:
SECONDARY OCC:
THIRD OCC:
R4925107
Office
ADDRESS: 8219 W 20 ST UNIT -2 GREELEY
RECEPT NUMBER: 3501429
GRANTOR: PROTHE PROPERTIES LLC
GRANTEE: HOLIDAY MANOR LLC (50% INT) &
YEAR BUILT: 2005
EFFECTIVE AGE:
LAND SIZE (SF):
BLDG SIZE (SF): 1,672
WALL HEIGHT: 10
STORIES: 1
BSMNT SIZE: 602
BSMNT FINISH:
ZONING:
QUALITY: Average
COMMENTS: BASEMENT UNFINISHED STORAGE.
Av.«ew h.. N."
2300 b
tR!rya ...' newer
lle
L ... ... .... ......... $ 11500 SF
le
3274
74 61'
$i ConcaN
a,; 479.89 Sf
1216'
COUNTY: WELD
PARCEL NUMBER: 095908329002
PERCENT: 100%
PERCENT:
PERCENT:
SALE DATE:
SALE PRICE:
ADJ SALE PRICE:
CLASS:
LAND/BLDG RATIO:
LAND VALUE:
IMPS PRICE/SF:
SALE PRICE/SF:
INTEREST RATE:
DOWN PYMT:
LOAN TERM (YRS):
POINTS PAID:
8/30/2007
$330,000
D
$197..36
S
Fast Floog967.65 SF
90.67'
CBOE_COMM_010€
Page '
INCOME APPROACH
Office Lease Comparables
Address
Start Date End date
Square Rate NNN
Feet
# Mtn Vista Business Park
1 7251 W 20th St, Bldg L,
Unit 100, Greeley
# Mtn Vista Business Park
2 7251 W 20th St, Bldg P,
Unit 1, Greeley
# Mtn Vista Business Park
3 7251 W 20th St, Bldg N,
Unit 3, Greeley
# Fox Run Business Park
4 1703 61St Ave
Unit 103, Greeley
02/01/2005
11/01/2006
12/01/2006
01/31/2011
10/31/2011
11/30/2011
10/23/2006 10/31/2009
Lease Comparable Map
CAPITALIZATION RATE
3,147 $17.39
1,851 $17.00
1,620 $15.00
2,400 $15.00
After considering the Band of Investment method and the Market Comparison method it has been
determined that the Capitalization rate to be used for the June 30, 2008 appraisal date should be
7.75 percent. The 2008 winter issue of Burbach & Associates was also consulted.
CBOE_COMM _01 C
Page
Income Capitalization
Potential Gross Income (Net SF 3,880 X $16.00 NNN) $62,080.00
Less Vacancy & Loss 10% $6,208.00
Effective Gross Income $55,872.00
Less Management 5% $2,793.60
Less Reserves 3% $1,676.16
Net Operating Income $51,402.24
Capitalization Rate 7.75%
Income Value $663,254.71
Rounded to $663,000
CBOE_COMM_010
Page
FINAL RECONCILIATION
COST APPROACH MARKET APPROACH INCOME APPROACH
$626,608
$679,000 $663,000
ASSESSOR'S VALUE
$640,200
CBOE_COMM_O1C
Page
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
SCH DULE/A NT R .
A YE R
TAX AREA
SCRO
C.
R3304705
2009
2149
GR 1 MVOP L5A MOUNTAIN VISTA OFFICE
PARK 1ST RPLT SITUS: 8203 W 20 ST
PROPERTY OWNER '!
GREELEY 806340000
CONQUEST HOLDINGS LTD LIABILITY CO8203
8207 W 20TH ST STE B
GREELEY, CO 80634
W
GREELEY, 20 ST
GREELL EY, CO 806340000
AS ES`S JR'S"VALUATION
+ T
ACTUAL VALUE PR
4
COMMERCIAL
679,000
640,200
TOT^
ray .•`�'. .. _..
$679,000
$640,200
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.
2009-1832
APPEAL;PROCEDlRE
County Board of Equalization Hearings will be held from
July 1 through August 5 at
915 10`" Street, Greeley, CO
To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown
below, and mail or deliver a copy of both sides of this form to:
WELD COUNTY BOARD OF EQUALIZATION
915 10TH Street, P.O. Box 758
Greeley, Colorado 80632
Telephone (970) 356-4000 Ext, 4225
To preserve your appeal rights, your Petition to the County Board of Equalization must be
postmarked or delivered on or before July 15 for real property and on or before July 20 for
personal property — after such date, your right to appeal is lost. You may be required to prove that
you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of
mailing.
You will be notified of the date and time scheduled for your hearing. The County Board of
Equalization must mail a written decision to you within five business days following the date of the
decision. The County Board of Equalization must conclude hearings and render decisions by August
5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and
you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by
September 11.
If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your
appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of
the following:
Board of Assessment Appeals District Court
1313 Sherman Street, Room 315 9 Avenue and 91b 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.
TITION1040UNTY BOARDtOE 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.)
$ 575/OOO
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.)
t ATTESTATIOPI . s'
I, the undersigned owner or agent' of the property identified above, affirm that the statements
contained herein and on a attachments hereto are true and complete.
(a � • "0_X`,'�, 576-32-4/O 7//5/9--0O9'
Signatu Telephone Number
Attach letter of authorization signed by property owner.
15-DPT-AR
PR 207-08/08
NOD #: 6102
May 30, 2009
Weld County Assessor
I/we hereby authorize Clifton Neeley to act as agent in the property valuation appeal
process regarding the property located at
Bruce White
Conquest Holdings, LLC
8207 W. 20th Street yt- 8rd.O.3
Greeley, CO 80634
Sincerely,
Clifton Neeley
8217 W. 20t Street
Greeley, CO 80634
Office (970) 673-8653
Cell (970) 576-5240
po
Wine
COLORADO
July 27, 2009
CONQUEST HOLDINGS LTD LIABILITY CO
8207 W 20TH ST STE B
GREELEY, CO 80634
Dear Petitioner(s):
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
Parcel No.: 095908325007 Account No.: R3304705
The Weld County Board of Equalization has set a date of August 5, 2009, at or about the hour of
1:45 PM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld
County Centennial Center, First Floor Hearing Room, 915 10th Street, Greeley, Colorado.
You have a right to attend this hearing and present evidence in support of your petition. The Weld
County Assessor or his designee will be present. The Board will make its decision on the basis of
the record made at the aforementioned hearing, as well as your petition, so it would be in your
interest to have a representative present. If you plan to be represented by an agent or an attorney
at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an
authorization for the agent or attorney to represent you. If you do not choose to attend this hearing,
a decision will still be made by the Board by the close of business on August 5, 2009, and mailed to
you on or before August 12, 2009.
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.
CONQUEST HOLDINGS LTD LIABILITY CO - R3304705
Page 2
Please advise me if you decide not to keep your appointment as scheduled. If you need any
additional information, please call me at your convenience.
Very truly yours,
BOARD OF EQUALIZATION
Esther E. Gesick
Deputy Clerk to the Board
cc: Christopher Woodruff, Assessor
CLIFTON NEELEY
8217 W 29TH ST
GREELEY, CO 80634
TAX AREAS DIFFERENT
FROM MTN VISTA
TAX
AREA
2008
2007
2006
2005
COMPARABLES GENERAL
MIL
MIL
MIL
MIL
LEVY
LOCATION
LEVY
LEVY
LEVY
1823
52nd
65th Avenue Med
Avenue -
area
Weiss
- & 955
Jewelers
0683
75.675
75.975
a
_843
•
alailifillillinik-
81.358
0600
75.261
75.561
79.429
80.941
47th Ave
to 59th Ave & 10th
11th Streets
to
Pumpkin Ridge
— 10th St.
2116
80.450
80.106
83.767
85.560
Summitview Medical
Michaels
Ctr. - St.
2081
75.811
76.112
79.977
81.517
82.560
76.994
80.961
76.740
2874
S I C \ \i t RE
BANK BLD
75.698
,79._.6 _
'5.397
l VIlth St. &
Weld County Ban .
AVG OF ALL COMP AREAS
76.5557
76.741
80.59
82.1727
%
113%
111%
102%
108%
PERCENT
MOUNTAIN
VISTA -
HIGHER
TAX
\itu Vista Office Park III
1
214f
86.5(01
T5.209
r._ A
. I
Conquest Holdings, LLC
8207 W. 20th St., Suite B
Greeley, CO 80634
970-356-5560
August 11, 2009
William F. Garcia
Weld County Board of Commissioners
P.O. Box 758
Greeley, CO 80632
Dear Mr. Garcia:
Please accept my apologies for the behavior of the consultant who represented Conquest Holdings at the
Weld County Board of Equalization meeting on Wednesday, August 5th. He was out of line and I have let
him know that is unacceptable.
I do, however, want you to know why we decided to appeal the valuation of our two buildings in the
Mountain Vista Office Park. Mr. Neeley is correct; the vacancy rate in the area of our buildings is at least
50% and has been that way for two years with little hope for change in the near future. The County
Assessor used a 10% vacancy rate in his valuation.
However, what is most striking is that the county receives annual property taxes totaling approximately
$15,000 and $17,000 on the two buildings. The building we lease to third parties incurs a net cash flow
deficit of about $4,000 per year after deducting interest and other expenses, including those taxes. How
can it be that Weld County and its taxing authorities benefit so much more from our capital investment
than we do?
Thar k�s f
�..o.„w �cr • , rme.
1 '
Dale Butcher
CC
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