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Home My WebLink About20072422.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 2007, WELD COUNTY, COLORADO - STIPULATE PETITION OF: THOMAS S CREIGHTON 10168 NICKOLAS AVE HIGHLANDS RANCH, CO 80130 DESCRIPTION OF PROPERTY: ACCOUNT#: R8602800 PARCEL#: 146906233011 -DAC STP L6A BLK2 SUNDANCE TOWNHOME PUD SITUS: 583 STERLING LN DACONO 80514 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 $ 28,500 $ 28,500 Improvements OR Personal Property 140,839 109,500 TOTAL $ 169,339 $ 138,000 WHEREAS,said Stipulation shall resolve all issues to have been determined by the Weld County Board of Equalization. 2007-2422 AS0067 00 s (1 A, Per- osfo8�o`7 RE: BOE - THOMAS S CREIGHTON, R8602800 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 �� WEL UNTY, COLD DO ATTEST: &4'M %/// cM,C c '^'"`w�� David E. Long, Chair my Clerk to the Board 1, EXCUSED / : :wem '„.� ' rk to the Board , ED S TO FORM: A Robe Awiassl_gan. Ass' ant my Attorne J rit:)Its ;:t . V ¢krev"rIXJ" Douglas Rademacher Date of signature: C 7/3i% 7 2007-2422 AS0067 2007 COUNTY BOARD OF EQUALIZATION WELD COUNTY ASSESSOR'S ACCOUNT NUMBER R8602800 RECEIVED JUL 2 4 2007 STIPULATION (As To Tax Year 2007 Actual Value) CRC: '. ._ COLOR,',:y1, RE PETITION OF : NAME: S. CREIGHTON THOMAS ADDRESS: 10168 NICKOLAS AVE HIGHLANDS RANCH, CO 80130 Petitioner(s),_S. CREIGHTON THOMAS 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: DAC STP L6A BLK2 SUNDANCE TOWNHOME 2. The subject property is classified as IMPROVED RESIDENTIAL property. 3. The County Assessor originally assigned the following actual value to the subject property for tax year 2007. Land $ 28,500 Improvements$ 140.839 Total $ 169.339 4. After further review and negotiation, the petitioner(s) and Weld County Assessor agree to the following actual value for the subject property. Land $ 28,500 Improvements$ 109.500 Total $ 138.000 2007-2422 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: 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. 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 this 18 day of JULY, 2007. Sc C/l Petitioner(s) or Attorney Petitioner(s) or Attorney Addr s: Address: fele� 0.Ic/Co165 due_ - N ;5h(A .Af i4a,L (' O 8830 Telephone: '3v > Lill- j 6 I Telephone: )� County Assessor �� Address: 1400 N.17th Avenue Greeley, CO 80631 (970) 353-3845 ext. 3656 NOTICE OF DENIAL OFFICE OF COUNTY ASSESSOR 17th AVE. DAC STP LEA BLK2 SUNDANCE 1400 NORTH CO0631 GREELEY,CO 50631 8iO75D514OITUS: 583 STERLING LN DACONO PHONE(970)353-3845,EXT.3650 www.co.weld.co.us E COLORADO19 OWNER: THOMAS S CREIGHTON THOMAS S CREIGHTON LOG 961 10168 NICKOLAS AVE PARCEL 146906233011 HIGHLANDS RANCH, CO 8O13O ACCOUNT R8602800 YEAR 2007 The appraised value of propertyis based mitheapplmaft consideration of the approaches to value required-6yTaw. 'fL-e Assessor finstermined that your property should be included in the following category(ies): Residential property - The property is valued by the market approach to value. 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: Your property has been uniformly valued following Colorado law and instructions published by the State Division of Property Taxation. Your protest of value has been denied due to comparison of other similar properties which sold during the 2005/2006 time period. This comparison shows your actual property value to be correct for that period. During the base period of January 1, 2005 to June 30, 2006 all market sales, including foreclosure resales were considered in determining your property value. Any sale or foreclosure resale after July 1, 2006 will be considered for the 2009 appraisal period. This is in compliance with Colorado law. PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE OF VALUE ACTUAL VALUE ACTUAL VALUE PRIOR TO REVIEW AFTER REVIEW RES__. ',, 169339 © 169339 I ►-w 11.1 11 moo_ Q act: r— 1 U" o- — CJ c_) o TOTALS $ $ 169339 $169339 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. §39-13-106(1)(a),C.R.S. TO PRESERVE YOUR APPEAL RIGHTS,YOU MAY BE REQUIRED TO PROVE THAT YOU FILED A TIMELY APPEAL; THEREFORE,WE RECOMMEND ALL CORRESPONDENCE BE MAILED WITH PROOF OF MAILING D6/22/2007 By: Christopher M.Woodruff WELD COUNTY ASSESSOR DATE ADDITIONAL INFORMATION ON REVERSE SIDE NOD 207 62 87/07 YOU HAVE THE RIGHT TO APPEAL I HE 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. A3r If you choose to appealAssessor' 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 NOTTETCWITONTWIMarThra You will be notified of the time and place set for the hearing of your appeal. ._ ' E IJAZATION'S 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 t�CIBHI€II{'IER APPE-A I f 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,Fact 225 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 CMJNTY 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. SkiA RE OF PH(HONER 7/6 /Q DAIL • • NOD 207 62 87/07 S. Creighton Thomas 10168 Nickolas ave. Highlands Ranch CO,80130 303-489-4968 To Whom It May Concern: My name is S. Creighton Thomas and I own 583 Sterling lane in Dacono. I received a property value notice this week and I am contesting this notice. The notice states that my property in Dacono has apptcciated $4,170 to a value of$169,339. I wish it had and that someone would offer me$169,339 for the townhouse. Over the past 2 years I tried to sell this property,but to no avail. I tried$185K, $175K, $165K all the way down to$151K,and no takers. When I asked p apa:ive buyers what price range they were looking in,they would tell me,"Something around$125K."And the foreclosures in the area are not helping either. Looking deeper into the foreclosures,I found several,3 of which I will share with you. The first is 423 Sterling lane,which was sold for$115K in March of'07. The second property is 511 Sterling lane and it was sold for$119K in Oct'06. The final property is 522 Horizon place. This property is exactly the same as my property and it was sold for$128K last fall. I would attribute the low prices to 4 reasons: 1. There are not enough jobs in the area 2. Too many properties on the market 3. The price of gas when I purchased the property 5 years ago was$1.40. Now people can not afford to drive back and forth to the city. 4. Five years ago everyone thought they were going to buy one of these Townhouses for$165K and sell them 2 or 3 years later for$185 and have$20K in equity. However,that wasn't the case and now all of these ARM loans have come due and all of these home owners were left holding the ball and they lost And that's why these townhouses are selling for$35K less than brand new. It's tough for me to say this,but I feel that the real value of this property is$131K which is$30K below what I paid for it 5 years ago. I have read through the State Statue and I understand the Law,however there are cracks in every system. We expect for the values of your properties to go up and this is how the Statue is written. Well,what happens when the value of properties go down? There is a years gap in between the time my property was assessed until now and there has been a HUGH down turn in the Market in that time. These types of issues need to be addressed for this property to be truly assessed correctly. Two other pints that I would like to point out real quick. 1. I didn't feel that the Assessor's assessment,sent to me on May 1st had all of the required and/or accurate information,i.e. "The notice describes the property you own,gives the actual or Market Value for Both the Prior and Current year,and describes the prut,eas to present your objections to the assessor." 2. Currently I am Renting this property out for$1050 a month. My bills for a month are$1250. Under the Income Approach, It states that"This Method considers the Landlord's Income from rents,operating costs,and the financial return needle would expect from a given type of investment property." I would expect that I would not have any money going out each month,but this is not the case. The Real value of this property is NOT what I purchased it for 5 years ago. Put yourself in my shoes. What you take a$35K loss? Sincerely, ()cc_ W S. Creighton Thomas UNDERSTANDING PROPERTY TAXES IN COLORADO 4 tisid r This brochure was created to provide general information on the Colorado property tax system. For more specific information on any one of these topics, please visit our• website at www.dola.state.eo.us/propertytax. GENERAL INFORMATION INTRODUCTION The assessment process is the basis for generating property tax revenues that pay for schools, roads, fire protection, police protection, and other local services. All of the revenue generated by property taxes stays within your county. Property taxes DO NOT support any state services. This is how property tax dollars are generally distributed. TAX DOLLARS ..... ::. :. . . :..... . ..... ..........:....... .... ...:..::::..........:��.. VENUE DISTRIBUTION Municipalities Counties Schools Local Taxing Entities THE ASSESSOR The county assessor is responsible for valuing all property in the county as directed by state laws. The assessor's goal is equalization of property values to ensure that the tax burden is distributed fairly and equitably among property owners. THE TAXPAYER As the property owner and taxpayer, you have specific rights and responsibilities in the assessment process. You have the right to examine the assessor's property records and to participate in the budget hearings held by school boards, cities and towns, and special districts that levy taxes on your property. You also have the right to protest your property's value if you disagree with the assessor's valuation. Additionally, you have the responsibility to provide accurate information to the assessor about property you own. NOTICE OF VALUATION The assessor is required to send you a real property Notice of Valuation by May 1 of each year. The notice describes the property you own, gives the actual or market value for both the prior and current year, and describes the process to present your objections to the assessor. When you receive a Notice of Valuation, study it carefully! The value shown on the notice affects the amount of taxes you must pay next January. The deadlines for appeal are statutory. If you feel the value the assessor placed on your property is incorrect,you may want to discuss the value with the assessor. You have the right to examine the records on. land and buildings, as they are public information. THE PROCESS The assessor revalues real property every odd numbered year. Generally, the value remains in effect the following year. The assessor is required to equitably value all property in the county according to the state Constitution and statutes. Once the actual values are established, the values are analyzed to ensure that they meet the standards for fair and equitable valuations. INFORMATION COLLECTION The first step in the process is to gather information on location, use, topography of land, zoning, building measurements, construction type, construction costs, rental income, condition, and property sales. Primary sources are maps, on-site inspections, building permits, local building contractors, real property deeds and questionnaires completed by owners of property. The information is stored, updated, and maintained for current and future use. APPRAISAL - ESTIMATING VALUE There are three methods for appraising property — the cost, market, and income approaches to value. Assessors use the information described above to determine the actual value using one or more of the approaches. COST APPROACH The cost approach estimates the material and labor costs to replace a building with one that is similar. If the building is not new, the appraisal must consider the building's age and how much it has depreciated over time. MARKET APPROACH Arm's length market sales of similar properties are analyzed, compared, and adjusted to arrive at a value for the subject property. The sales must have occurred during the eighteen-month period prior to and including the appraisal date of June 30. If a sufficient number of sales are not available during the eighteen-month period, the assessor may go back in six-month intervals up to a maximum of five years to collect the required number of sales needed to set values. INCOME APPROACH The income approach is used for income producing properties such as shopping centers, office buildings, and warehouses. This method considers the landlord's income from rents, operating expenses, and the financial return most people would expect from a given type of investment property. CHANGES AFFECTING PROPERTY VALUES A property's value may change over time due to physical changes. Some examples are: • Finishing new rooms in a basement or attic; • Extensive remodeling and modernization; • Demolishing or adding a garage, carport, storage shed, or other structures; • Any change resulting in more square footage. Changes made to maintain your property's current value, such as painting your home, replacing the roof or making other repairs will not necessarily increase the value of the property. If the tasks were not performed, the condition of the home would deteriorate, adversely affecting the value. Hello