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Home My WebLink About20072285.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 2007, WELD COUNTY, COLORADO - DENY PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE PETITION OF: EASTMAN KODAK CO ATTN CORP TAX DEPT - 1ST FLR 3414 N DUKE ST DURHAM, NC 27704 DESCRIPTION OF PROPERTY: ACCOUNT#: R4674207 PARCEL#: 080726200008-W2 26-6-67 EXC BEG AT C4 COR SEC 26 S00D25'E 1320.21' TO C S 1/16 COR TH S89D40'W 138.47'TOE BACK OF CURB LN ON LITHOPLATE DR TH ALG SD CURB N24D53'E 52.19'TH ALG CURVE TO L(R=130.05)CHORD=N12O20'E 57.14'TH NOD12'W 82.36'TH ALG CURVE TO L ( 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 year2007,claiming that the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS, said petitioner not being present or represented, and WHEREAS,the Board has made its findings on the evidence,testimony and remonstrances and is now fully informed. NOW,THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County,acting as the Weld County Board of Equalization,that the evidence presented at the hearing clearly supported the value placed upon the Petitioner's property,after review by the Weld 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 shall be, and hereby is, affirmed as follows: ACTUAL VALUE AS DETERMINED BY ASSESSOR Land $ 24,078,300 Improvements OR Personal Property 23,992,960 TOTAL $ 48,071,260 e4.Q�;,e 70 2007-2285 AS0067 8_g_add7 RE: BOE - EASTMAN KODAK CO PAGE 2 BE IT FURTHER RESOLVED that 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 maybe 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 Court's 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 2007-2285 AS0067 RE: BOE - EASTMAN KODAK CO PAGE 3 subpoenas for witnesses, books, records,documents and other evidence. He also has the power to administer oaths, and all questions of law and fact shall be determined by him. The arbitration hearing maybe 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. The above and foregoing Resolution was,on motion duly made and seconded, adopted by the following vote on the 3rd day of August, A.D., 2007. BOARD OF COUNTY COMMISSIONERS �� WELD COUNTY, COLORADO ATTEST: �'_0,,0/��(/!/ EXCUSED " '�f David E. Long, Chair cClermy to the Board k E .AI�O cl William H De uty.Clerk to the Board rWilliam F. Garcia EKEDASTOFORM: EXCUSED Robert D. Masden t3 G 6JQ al I.Cp . Ass taut C my Attorney // ouglas ademacher Date of signature: ei9/7/07 2007-2285 AS0067 t aja rei.v. KA OC NOTICE OF DENIAL OFFICE OF COUNTY ASSESSOR 1400 NORTH 17th AVE. /U\ 132 W2 26-6-67 BEG AT C4 COR SEC GREEL4Y,cos3650 I// 26 S00D25' E 1320 .21' TO C S 1/16 PHONE(970)353-3845,EXT.3650 COR TH S89D40'W 138 .47' TO E BACK www.co.weld.co.us OF CURB LN ON LITHOPLATE DR TH ALG SD IL 1� RTNL (R=130 . 05 4 )9' TH ALG C CURVE TO OWNER: EASTMAN KODAK CO COLORADO DELOITTE & TOUCHE LLP LOG 4029 555 SEVENTEENTH STREET SUITE 3600 PARCEL 080726200008 ACCOUNT R4674207 DENVER, CO 802023942 YEAR 2007 Owner: EASTMAN KODAK CO The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined that your property should be included in the following category(ies): Industrial 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: 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 . PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE OF VALUE ACTUAL VALUE ACTUAL VALUE PRIOR TO REVIEW AFTER REVIEW VACANT LAND 7196800 7196800 INDUSTRIAL 40803200 40803200 AG LAND 71260 71260 TOTALS $ $ 48071260 $48071260 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,YOU MAY BE REQUIRED TO PROVE THAT YOU FILED A TIMELY APPEAL; THEREFORE,WE RECOMMEND ALL CORRESPONDENCE BE MAILED WITH PROOF OF MAILING 06127/2007 By: Christopher M.Woodruff WELD COUNTY ASSESSOR DATE ADDITIONAL INFORMATION ON REVERSE SIDE NOD 207 62 87/07 Eastman Kodak Company EKC Windsor 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. pg . ' .: m °i.S@ i., a Yom• If you c oose to appe. e 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 $O - WA Q+I O ` EA�RI `O' You will be notified of the time and place set for the hearing of your appeal. COUNTY'BOARD OF RO1IMMATtfllPi ADETEI H*'IvATIO 4 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. TAXPAYER RIOHTS`FOR FEIMIERAPPIRALSI 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. R4674207 Tpv,;1,4 Vgltiu 32,SliS,1l,O The property is valued in excess of fair market Value based on the three approaches to value; cost, market, and income. In addition, the property is valued in excess of other similarly situated properties Matt Poling July 14, 2007 (303)308-2191 DAtE NOD 207 62 87/07 EASTMAN KODAK COMPANY 4020 Stirrup Creek Drive, Ste. 100 Durham, NC 27703 LETTER OF AUTHORIZATION To Whom It May Concern: Property Owner Name: Eastman Kodak Co Hereby appoints and authorizes Deloitte Tax LLP as taxpayer's property tax representative on all matters pertaining to the 2007/2008 ad valorem taxes relating to the property listed below. Until written notice of termination is issued, Deloitte Tax LLP may have the right to, exclusive to the below listed property,examine property tax records, obtain all property tax statements, and discuss or appeal any property tax assessments with the proper authorities, when in their opinion, the property tax assessment does not constitute fair market value. Additionally, Deloitte Tax LLP has the right to file property tax appeals to the appropriate jurisdiction, if authorized by law.By: 40.360,A.,_ �U ' Name: LyY1n W . P1Ac.t. Title: Dire,c.-1-Or - SaIts , Ucc. 4 Prop.Tc.X Address: Li02-O 5-brit,? Cyrteic bf. , Sk-t.,. Ito Ovrham , NC. 211O3 Phone Number: (q lq) %S t a (p 419 Property Description: Parcel No. Address Jurisdiction State R4262106 Weld County Colorado R4674207 9952 Eastman Park Dr. nW`elld County Colorado Su ribed and sworn before me this �Q day of ��w",l- , 2_001 fr- JL �m Notary Public ^ / , I�tI State of IJ.'( f 1,fi OLIN4 '1 County of (A( i �, nn /�/�'� Kodak My commission expires t1,K�- I� 761! official Imaging � Olympic ^Games ly De 1 o i tte C Deloitte Tax LLP Suite 3600 555 Seventeenth St. Denver,CO 80202-3942 USA Tel:+1 303 292 5400 Fax:+1 303 312 4000 www.deloitte.com July 16, 2007 CERTIFIED RETURN RECEIPT 7007 0710 0005 2329 2908 Weld County Board of Equalization 915 10th Street Greeley, CO 80632 Re: 2007 County Board of Equalization Real Estate Appeals Enclosed are the 2007 Appeals for the following taxpayers and schedule numbers: Taxpayer Schedule No. Eastman Kodak Co R4674207 Amalfi LLC R0034492 Maplewood I Investment LLC R4095106 Amalfi LLC R0034592 Westlake Office Plaza R0273493 West Colorado Square Ltd R0085188 If you have questions, or need additional information, please contact Mr. Matt Poling at (303) 308-2191. Sin erely, Kelly R. all Property Tax Associate o o� f+1 c 3rn /kh `— o CO co o Enclosures < D iz Ct1 rn-I C ,4 7z) Member of Deloitte Touche Tohmatsu CLERK TO THE BOARD (a taget; PHONE (970) 356-4000 EXT 4226 FAX: (970) 352-0242 WEBSITE: www.co.weld.co.us.cc.us 915 10TH STREET II I ' P.O. BOX 758 GREELEY, COLORADO 80632 C C9$) ADO EASTMAN KODAK CO ATTN CORP TAX DEPT - 1ST FLR 3414 N DUKE ST DURHAM NC 27704 Parcel No.: 080726200008 Account No.: R4674207 Dear Petitioner(s): The Weld County Board of Equalization has set a date of August 3, 2007, at or about the hour of 4:30 PM,to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Department of Planning Services, Conference Room, 918 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 3, 2007, and mailed to you on or before August 10, 2007. 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. 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. EASTMAN KODAK CO - R4674207 Page 2 Very truly yours, BOARD OF EQUALIZATION iayyd/1444? Donald D. Warden Clerk to the Board cc: Christopher Woodruff, Assessor DELOITTE & TOUCHE LLP 555 SEVENTEENTH STREET SUITE 3600 DENVER CO 802023942 08/01/2007 13:46 FAX DELOITCE-DENVER 001/002 Deloitte. Delores Tax LLP Sues 3800 555 Seventeenth SU= Denver,CO 80202-3942 USA Tel: (303)308-2191 Fax: (303)3134353 www.debNte.eom Fax To: OtllcelCompany: Esther Weld County BOE Fax number. co: (970)352-0242 From: Date: Matt Poling August 1,2007 Number or pages(Including cover sheet): To confirm receipt,or tf you do not receive all pages,please cal: 2 (303)308-2191 CaMden=ity Nets:This page and any accompenyrp documents contebr canldanlW Information Intended foreseeable Inched=end puNtea.This iiseopted inprme=al is private and protected by law.If you are not the intended redpiam,you are hereby nodhed that any disdain,copying or distribution,or ON bong at any action bated on the contents al=Internalise is strictly prohibited. Subject Admin Denial-Kodak Esther, Please see attached letter respectfully requesting an administrative denial at the Weld County Board of Equalization for Kodak's account number R4674207. If you have any questions,please let me know at(303)308-2191. Sincerely, Matt Member of Walls Touch,Tolrutw 08/01/2007 13:47 FAX DELOIITE-DENVER Il002/002 Deloitte. Deloitte TULIP Suite 3600 555 Seventeenth St. Denver,CO 80202-3942 VIA FACSIMILE(970)352-0242 05A Tel:+1 303 292 5400 Fate+t 303 312 4000 www.eeloim.com August 1,2007 Esther Gesick Clerk to the Board Weld County Board of Equalization 915 10th Street Greeley,CO 80631 RE: Eastman Kodak Company R4674207 Dear Esther: Per our telephone conversation last week,I have been in correspondence with Stan Jantz with the Weld County Assessor's Office. We have determined that both Eastman Kodak Company and the Weld County Assessor's Office need additional time to review the value of the Eastman Kodak Company plant in Windsor,Colorado. As such,we respectfully request an"administrative denial"on our appeal to the Weld County Board of Equalization. If you have any questions or need any additional information,please let me know at(303)308-2191. Sincerely, ,ii j'/fs �A Matthew W.Poling Senior Manager Member of DeWitt*Toudte Tolvnatau 0 OFFICE OF THE WELD COUNTY ASSESSOR PHONE(970)353-FAX(9 0 XT 3650 FAX(970)304-6433 WEBSITE: www.co.weld.co.us WI I D C WELD COUNTY ADMINISTRATIVE OFFICES 140E GREELEY N 17 AVE Y CO 80631 COLORADO August 3, 2007 David Long, Chairman Weld County Board of Equalization Weld County, Colorado Mr. Chairman and Members of the Board, This is in reference to Schedule number R4674207 for Eastman Kodak Company. I have been in contact with representatives of the company concerning the real property valuation for 2007. At this time, we both agree that the facts are not sufficiently settled for us to make a recommendation to you regarding the value. As you know, Eastman Kodak has been in the process of selling land and buildings to other entities. One of the most significant transactions occurred at the end of April 2007. This transaction will cause a complete reworking of the Eastman Kodak account and Carestream Health, the new company which purchased half of the facility. We are working with the company to ascertain which assets transferred, and are involved in on- going discussions regarding the value of these assets. Consequently, we respectfully request that you grant an administrative denial to the Eastman Kodak appeal and sustain the total actual value of$48,071,260 at this time. Upon further appeal, we will bring the results of our ongoing discussions to you, with a recommendation for the final value for 2007. I have discussed this matter with Eastman Kodak's agent, and we are in agreement as to this course of action. Res ectfully submitted, 711(Vet Christopher M. Woodruf Weld County Assessor Hello