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Home My WebLink About20072348.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 2007, WELD COUNTY, COLORADO - STIPULATE PETITION OF: JACOBS IONE S CIO JESSIE A J JACOBS 1631 11 AVE GREELEY, CO 80631 DESCRIPTION OF PROPERTY: ACCOUNT#: R2818686 PARCEL#: 096105328001 - GR 5020 L15-16 & W9" N35' L14 BLK64 %900 9 AVE/0 SITUS: 900 9 AV GREELEY 80631 WHEREAS,the Board of County Commissioners of Weld County, Colorado,convened as the Board of Equalization for the purpose of adjusting, equalizing, raising or lowering the assessment and valuation of real and personal property within Weld County,fixed and made by the County Assessor for the year 2007, and WHEREAS, said petition has been heard before the County Assessor and due Notice of Determination thereon has been given to the taxpayer(s), and WHEREAS, the taxpayer(s) presented a petition of appeal of the County Assessor's valuation for the year 2007,claiming that the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS,in lieu of the hearing scheduled before the Board of Equalization a Stipulation was agreed upon by the Assessor and said petitioner(s), and WHEREAS,the petitioner(s)and the Weld County Assessor agree that the assessment and valuation of the Weld County Assessor shall be, and hereby is, stipulated as follows: ACTUAL VALUE AS DETERMINED ACTUAL VALUE BY ASSESSOR AS STIPULATED Land $ 38,108 $ 38,108 Improvements OR Personal Property 451,332 383,892 TOTAL $ 489,440 $ 422,000 WHEREAS,said Stipulation shall resolve all issues to have been determined by the Weld County Board of Equalization. 2007-2348 AS0067 RE: BOE - JACOBS IONE S, R2818686 Page 2 NOW,THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, acting as the Board of Equalization, that the Stipulation agreed to by the Weld County Assessor and the above-named petitioner(s) be, and hereby is, accepted by the Board. The above and foregoing Resolution was,on motion duly made and seconded,adopted by the following vote on the 31st day of July, 2007. BOARD OF COUNTY COMMISSIONERS �� WE OUNTY, COLORADO ATTEST: aG? ,44 David E. Long, Chair gld t:qunty Clerk to the Board EXCUSED i'•" - Wiliam J e, -Tem 1861 :; �Cl 'rk to the Board �� Will' F. Garcia S TO FORM: \f1 Robert D. Masden LCILAnn ty Attorn ) Douglas ademacher Date of signature: ref-X)7�'l 2007-2348 AS0067 2007 COUNTY BOARD OF EQUALIZATION WELD COUNTY ASSESSOR'S ACCOUNT NUMBER R2818686 STIPULATION (As To Tax Year 2007 Actual Value) RE PETITION OF : NAME: lone S Jacobs C/O Jessie A J Jacobs ADDRESS: 1631 11 Ave Greeley, Co, 80631 Petitioner(s), Jessie A J Jacobs and the Weld County Assessor, hereby enter into this Stipulation regarding the tax year 2007 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: L 15-16 & W9" n35' L14 BLK 64 %900 9 AV GREELEY 80631 2. The subject property is classified as Retail / Office property. 3. The County Assessor originally assigned the following actual value to the subject property for tax year 2007. Land $ 38,108 Improvements$ 451.332 Total $ 489,440 4. After further review and negotiation, the petitioner(s) and Weld County Assessor agree to the following actual value for the subject property. Land $ 38.108 Improvements$ 383.892 Total $ 422,000 2007-2348 5. The valuations, as established above, shall be binding only with respect to tax year 2007. 6. Brief narrative as to why the reduction was made: The subject had a 70% vacancy in the base year. The 2nd floor has approx 2,178 sq. ft. of leaseable floor area. The remaining 2n° floor area is involved in a lonq term reproduction renovation process and is considered a shell and not leasable area. 7. Both parties agree that the hearing scheduled before the Weld County Board of Equalization on DATE at TIMEam be vacated; or, a hearing has not yet been scheduled before the Board of Equalization x (check if appropriate). DATED 07/11/ 2007 itioner s) A rney Petitioner(s) or Attorney Address: %4 cd (si,"4,* Telephone: 3vS-7/t'9" Telephone: `s County-A r Address: 1400 N.17th Avenue Greeley, CO 80631 (970) 353-3845 ext. 3656 7/11/2007 MARKET INCOME WORKSHEET Parcel : 096105328001 Name: Jacobs Address: 900 9 Av Bldg Sq Ft Use No of Units 17,480 Office/Retail Effective Tax Rate Mill Rate Assm't Rate Tax Rate 0.079429 0.29 0.02303441 Avg Rent PSF Annual Rent per annual Gross Rent PSF Month Income Ne i e. .le .;4,fx4x , fa};.:;1t:k , kge; Less Vacancy & Expenses Vacancy 25% Typical downtown 16% $21 ,286 EG m „Sala mgmt 5% $3,193 maintenace 3% $1,916 Insurance $4,370 R/R 2% $1,277 Utilities $13,005 NtriarnP, ft To' Net Income/Overall Cap Rate = Property Value Property Value Value Per Sq Ft PI g ,, awTer§..sarzszatagoi Total Value rEst PM Prop " lete r=�+� Z OOQ . .�. . �. a rug � �' w.,. �'.�� page 1 • Sketches\Photos for Acct# R2818686 BIdgID: 1 Q:\data\photos\096105328001 001.JPG _, . tft LONE WAY . 9, ST, � r1r4 , �., I•. \j. y ytt .ts+e !f( t 4 ,tt/l)t1.1111 t(J, � ;� �� 1 ,3/4 .�t az.�{► A 1tF1t' f'r r o s t t Y{ y la 5 { _ i �. 1 I • . s „ddd 111 . $ - taw . . � dv a t: 1 a ..} BIdgID: 1 Q:\DATA\SKETCHES\096105328001001-1.jpg Offices • Second Floor 0,740 sq.ft. 190.0' 100.0' 00 O• el Shell renovation I Office gi 4728.0 sq.ft. I 4012.0 sq.ft. L_ __ Q s.o•i Le as eable area 2,176 sq.It. oe.o• mI ez Cr Retail First Floor 8740.0 SF 190.0' I w bl 1/3 2300.0 sq.ft. 1104.0 SF 828.0 SF628.0 SF ` e o i o o b rn I 28.0 SI1828.0 Si w i O . v l pup. .,n ' n, 4 900 I 906 ! 908 910 l 912 l 914 ! 9161918 920 50.0' 24.0' l 18.0' 1 18.0' Iso'I 10.0' ' 18.0' 112.0^,10.0'1 16.0' 9 Avenue Sketch by Apex IV"' WELD COUNTY ASSESSOR Account#: R2818686 PROPERTY PROFILE Parcel#: 096105328001 MH Seq#: MH Space: Appr Year: 2008 Levy: 79.429 #of Bldgs: 1 Active On: 5/4/2007 Tax Dist: 0615 Map#: LEA: GRLY11 InactiveOn: Assign To: CCJ Initials: CCJ Acct Type: Commercial Last Updated: 5/4/2007 New Growth: 0 Owner's Name and Address: Property Address: I JACOBS IONE S Street: 900 9 AV City: GREELEY I CIO JESSIE A J JACOBS 1631 11 AVE GREELEY CO 80631 Business/Complex: Sales Summary Legal Description GR 5020 L15-16 8 W9"N35'L14 BLK64%900 9 AVE%SITUS:900 9 AV GREELEY 80631 Land Valuation Summary____________—_ Abst Unit of Number Value Assmt *Assessed Land Type Ag Code Code Measure Of Units Per Unit Actual Value Percent Value Commercial 2112 Square Feet 9527 $4.00 $38,108.00 0.29 $11,051.32 Land Subtotal: 9527 $38,108.00 $11,051.32 Buildings Valuation Summary Abst Assmt *Assessed Bldg # Property Type Code Occupancy Actual Value Percent Value 1 Commercial 2212 353- Retail Store $451,332 0.29 $130,886 Improvements Subtotal: $451,332 $130,886 Total Property Value $489,440 $141,938 *Approximate Assessed Value Tuesday, July 10, 2007 Page 1 of 2 WELD COUNTY ASSESSOR Account#: R2818686 PROPERTY PROFILE Parcel#: 096105328001 MH Seq#: MH Space: Building#: 1 Condo SF Condo% Land: Condo % Bldg: Unit Type: Landscaping $: Property Type: Commercial 0 1 $0.00 Quality: Average Nbhd: 6907 Occupancy: Retail Store Condition: CM-Typical Nbhd Ext: 00 Perimeter: 472 Nbhd Adj: 1 Percent Comp: 100.00% Individual Built As Detail Built As: Retail Store Year Built: 1902 Construction Type: C Year Remodeled: 1999 HVAC: Hot Water Radiant % Remodeled: 0.75 Interior Finish: Adj Year Blt: 1975 Roof Cover: Effective Age: 31 Built As SF: 17480 Mh Make: #of Baths: Tag Length/Width: X #of Bdrms: Tag Length/Width: X #of Stories: 2 Mh Skirting LF: Story Height: 12 MH Skirting Type: Sprinkler SF: Diameter: Capacity: Height: Building Details [Bldg #: 1 Units Units Price RCN Actual Value Com Canopies Wood Average 1952 $6.90 $13,468.80 $6,061.00 Value Details _ RCN Cost/SF: $63.72 Design Adj %: 0 Func Obs %: 0 Total RCN: $1,127,294.00 Exterior Adj %: 0 Econ Obs %: 0 Phys Depr%: 0.5 Interior Adj %: 0 Other Obs %: 0 Phys Depr$: 563647 Amateur Adj %: 0 RCNLD $: $563,647.00 RCNLD CosUS $32.25 Market/SF: $0.00 Tuesday, July 10, 2007 Page 2 of 2 , « . , . ; . 1. «I . �: y >w . % « / / , y. . \ i ^ . � \ '/ . \y< \ » : \\} \ } . .w » 2 ` \t' \ . ! . y . . ; : . \ .yam : . . . /\ y , \ \ « « . \ / < ° « /\ \ > » ° / ?/ \ \ : § » : 2 2 : . « . . \ .y \ } § » < . >. a ! « ! <w . < \ 2 ? » © « ° xa < « 7 . . . . . . . . . .y .. � ° l � d 2 < . m � : . \ \ : . > » . \ \ • 2^ y» « 7 ?w »»m 0 t„ » . § . y� x 2 - .4" . . . . yy \ \ . \ { .. , - »e ..,',‘,.,'.11:1i »y . � \ 2 d� 3 . \ y ,way ^�� « � > . . , fi ill, b r4 1 1,. raj ` " ':I?: .., li , yd`" g. ^it' 51 ;I \1/2\\ zrayFe I'�' 1 n ',': ' ' teti.:':1.11--''' \\:, •e A *S .: 14 tip $e # � ty Ill L`�4.€=wro�- d ti �`'4 law '�x w. 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BL 6 45020%900 L15-16 & SITUS : S : L14 GREELEY,CO 80631 GREELEY%9 0 0 9 AVE% S I TUS : 900 9 AV PHONE(970)353-3845,EXT.3650 80631 www.co.weld.co.us COWNER: JACOBS IONE S COLORADO JACOBS IONE S LOG 37 C/O JESSIE A J JACOBS PARCEL 096105328001 1631 11 AVE ACCOUNT R2818686 GREELEY, CO 80631 YEAR 2007 The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has dctermined that your property should be included in the following category(ies): Commercial property is valued by considering the cost, market, and income approaches . If your concern is the amount of your property tax,local taxing authorities(county,city,fire protection,and other special districts)hold budget hearings in the fall. Please refer to your tax bill or ask your Assessor for a listing of these districts,and plan to attend these budget hearings. The Assessor has carefully studied all available information,giving particular attention to the specifics included on your protest,and has determined the valuation(s)assigned to your property. The reasons for this determination of value are: The Colorado Constitution requires commercial property to be valued based on actual value and assessed at 29% . Replacement cost, market, and income are approaches used to determine the actual value of your property. Your valuation is supported by the appraisal procedures required by law. PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE OF VALUE ACTUAL VALUE ACTUAL VALUE PRIOR TO REVIEW AFTER REVIEW N CONIK4gCIALQ 489440 489440 n U- co 3 O w U o 0 ry TOTALS $ $ 489440 $ 489440 APPEAL DEADLINES: REAL PROPERTY—JULY 16,PERSONAL PROPERTY—JULY 20. 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. TO PRESERVE YOUR APPEAL RIGHTS,YOUaA�I�Etro P V TIMELY AP AL; THEREFORE,WE RECOM fENa0idL0, 1OlVDENCE BE MAILED v -.�r �p�IL• I 'a� By: Ch is�stt`o�Dphheea . �„oagtff ["tea r4WE L COUNTY ASSESSOR w ;,,t DATE '�i` ADDITIONAL INFORMATION ON REVERSE SIDE ..207Q87/07 YOU HAVE THE RIGHT TO APPEAL THE ASSESSOR' S DECISION The County Board of Equalization will sit to hear appeals beginning July 2 and continuing through August 3 for real property (land and buildings)and personal property(furnishings, machinery, and equipment). § 39-8-104 and § 39- 8-107(2), C.R.S. WEAVntOCEDURESI It you choose to appeal the Assessor's decision, mail or deliver one copy of this completed form to the County Board of Equalization. To preserve your right to appeal,your appeal must be POSTMARKED OR DELIVERED ON OR BEFORE JULY 16 FOR REAL PROPERTY, AND JULY 20 FOR PERSONAL PROPERTY. WELD COUNTY BOARD OF EQUALIZATION 915 10th Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (970) 356-4000 Ext. 4225 c1/44,11CA �l a notified of` Gt You withe time and place set for the hearing of your appeal. COUNTY-BOARD OF EQUALIZATION t$DETERMINATION: The County Board of Equalization must make a decision on your appeal and mail you a determination within five business days of that decision. The County Board must conclude its hearings and render decisions by August 3. T A'YERfIGHT.5 FOR-EURP R°A PEAL$at If you are not satisfied with the County Board of Equalization' s decision you must file within thirty days of the County Board of Equalization' s written decision with ONE of the following: Board of Assessment Appeals (BAA): 1313 Sherman Street, Room 315 Denver, Colorado 80203 Telephone (303) 866-5880 www.dola.colorado.gov/baa District Court: 9th Avenue and 9th Street, P.O. Box C Greeley, Colorado 80632 Telephone (970) 356-4000, Ext. 4520 Arbitration: WELD COUNTY BOARD OF EQUALIZATION 915 10th Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (970) 356-4000, Ext. 4225 If you do not receive a determination from the County Board of Equalization, contact the county board. If the county board is not going to mail a decision,you must file an appeal with the Board of Assessment Appeals by September 10th. TO PRESERVE YOUR APPEAL RIGHTS, YOU MUST PROVE YOU HAVE FILED A TIMELY APPEAL; THEREFORE, WE RECOMMEND ALL CORRESPONDENCE BE MAILED WITH PROOF OF MAILING. PETITION TO THE COUNTY BOARD OF EQUALIZATION In the space below,please explain why you disagree with the Assessor' s valuation. IN ACCORDANCE WITH § 39-8-106(1.5), C.R.S., IF YOUR APPEAL INVOLVES REAL PROPERTY, YOU MUST STATE YOUR OPINION OF VALUE IN TERMS OF A SPECIFIC DOLLAR AMOUNT. Attach additional documents as necessary • /1440agot wittier I SIGNATURE OF PE71TlOatn-itil DA I E NOD 207 62 87/07 Jessie A J Jacobs June 281`, 2007 1631 11`h ave Greeley CO 80631 970-313-6282 TO: Weld County Board of Equalization 913 10th street PO BOX 758 Greeley Co 80632 RE: APPEAL of Assessor's Decision for PARCEL 096105328001,Acc#: R2818686 Correct Value should be $406,000,bald on comparison of direct similar use properties I disagree with the Assessor's decision and wish to exercise my right to appeal to this board for further consideration on the entirety of the full record. This appeal is timely and is mailed with proof of mailing. This appeal involves real property,my new stated opinion of value for the property designated by the above account and parcel number is: $406,000 I request a copy of the full record,the policies,procedures,any and all calculations the Assessor used in his determination, so that at the hearing I will be able to add to or dispute any or all of the totality of the complete record. The Assessor failed to follow reasonable policies,procedures and perform calculations, and/or accept/or apply the documentation,calculations or disputes presented for review. The fair and reasonable uniform assessment would indicate the appraisal should show a reduction of 15-20%from the previous year. The Assessor failed to and used erroneous and incorrectly inflated properties,data, and material that does not reasonably relate to the above property. The data,documents, and material presented to the Assessor's office, and ignored, would indicate the opposite of the value presented herein and indicate the value here is both arbitrary and capricious. It is my belief,the Assessor failed to apply the proper procedures and policies of his office and arrived at an unreasonable and false calculation, even after being presented with numerous facts, documents, market and property information directly conflicting these findings, and which fully support a reduction in value not the%increase given. Several national market analysis for the period show a 15-20%reduction not an increase. Sin J s' J s CI' Hello