HomeMy WebLinkAbout20072427.tiff RESOLUTION
RE: THE BOARD OF EQUALIZATION, 2007, WELD COUNTY, COLORADO - STIPULATE
PETITION OF:
WAKE LLLP
801 8 ST#220
GREELEY, CO 80631
DESCRIPTION OF PROPERTY: ACCOUNT#: R3849505 PARCEL#: 095905112002 -GR
BBPC1 UNIT 2 BE#2 BOOMERANG BUSINESS PARK CONDO SUP 1 7263 W 4 ST 2 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 year2007,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 $ 0 $ 0
Improvements OR
Personal Property 240,870 232,500
TOTAL $ 240,870 $ 232,500
WHEREAS,said Stipulation shall resolve all issues to have been determined by the Weld
County Board of Equalization.
2007-2427
AS0067
C 1 A;Chi x %8/0 7
RE: BOE - WAKE LLLP, R3849505
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.
B D OF COUNTY COMMISSIONERS
/��tai L CO NTY CO ORADO
ATTEST: 1 I_O,��/'//u C,
A /°` 1 D David E. Long, Chair
Id County Clerk to the Board
EXCUSED
�
William H.
Jer Pr -Am
d (
LbecClethth the Board
Will Garcia
'."¢ Iib1 D AS TO FORM:
cJF
Robert D. Mas en
AssOantClainty Attorney QQ.L%r
uglas ademacher
Date of signature: 47/-s/47
2007-2427
AS0067
l
2007
COUNTY BOARD OF EQUALIZATION
WELD COUNTY
ASSESSOR'S ACCOUNT NUMBER R3849505
STIPULATION (As To Tax Year 2007 Actual Value)
RE PETITION OF :
NAME: WAKEJLLP
ADDRESS: 801 8T ST. #220
GREELEY, CO. 80631
Petitioner(s), WAKE LLLP 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: UNIT 2 BOOMERANG
BUSINESS PARK CONDO, AKA 7263 W 4TH ST. UNIT#2 GREELEY, CO
2. The subject property is classified as COMMERCIAL
property.
3. The County Assessor originally assigned the following actual value to the subject
property for tax year 2007.
I mprovements$240.870
Total $240.870
4. After further review and negotiation, the petitioner(s) and Weld County Assessor
agree to the following actual value for the subject property.
I mp roveme nts$232.500
Total $232.500
2007-2427
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: Three identical office condo
units purchased 4/5/06 for $697,500. Buyer paid 232,500 for each unit.
7. Both parties agree that the hearing scheduled before the Weld County Board of
Equalization on DATE at TIME be vacated; or, a hearing has not yet been
scheduled before the Board of Equalization x (check if appropriate).
DATE his 18 ay of JULY, 2007.
a 4T
Pe itw er(s)- Agent Petitioner(s) or Attorney
Address: Address:
Telephone: Telephone:
C(
County Ass 4/
sor i �
Address:
1400 N.17th Avenue
Greeley, CO 80631
(970) 353-3845 ext. 3656
/ q
C
777 NOTICE OF DENIAL OFFICE OF COUNTY ASSESSOR
1400 NORTH 17th AVE.
I6414
GR BBPC1 UNIT 2 BE#2 BOOMERANG GREELEY,CO 80631
BUSINESS PARK CONDO SUP 1 7263 W 4 PHONE(970)353-3845,EXT.3650
ST 2 GREELEY 80631 www.co.weld.co.us
WI '
O OWNER: WAKE LLLP
COLORADO
WAKE LLLP LOG 3013
801 8 ST #220 PARCEL 095905112002
ACCOUNT R3849505
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 determined 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
In
COMMERCIAL® 240870 240870
En ILI
O N L
tu0 ttj
O a
0
TOTALS $ $ 240870 $240870
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.
06/27/2007
By: Christopher M. Woodruff
WELD COUNTY ASSESSOR DATE
ADDITIONAL INFORMATION ON REVERSE SIDE
NOD 207 62 SD07
S' 'URITY TITLE GUARANTY 1.
7791 Highland Meadows Pkwy#A,Windsor,CO 80528
(970)266-9870
BUYERS SETTLEMENT STATEMENT
Final
•
Buyer/Borrower: Colorado Deferred Exchanges,Inc.,as Escrow No. S0123343-348 CWB .
Qualified Intermediary_for WAKE,LLLP Close Date: 04/05/2006
Proration Date 04/05/2006
Date Prepared: 04/04/2006 .
Property Address: 7263 West 4th St.,#1,2&4
Greeley,CO 80634
-., .;',".Vi; p on':,x. .T ». "'t,.. ' .ar'c 6.rtik.e"as o -.mot' -":• .a , J :Tedif --
TOTAL CONSIDERATION: $697,500.00
Total Consideration
NEW AND EXISTING ENCUMBRANCES: $365,000.00
Principal Amount of Loan from Centennial Bank of the West
NEW LOAN CHARGES:
Loan Origination Fee at.5%to Centennial Bank of the West 1,825.00
Appraisal Fee to Centennial Bank of the West 900.00
Upfront Release to Centennial Bank of the West 21.00
Flood Determination Fee to National flood Research 13.00
Hazard Insurance Premium for 1 year(s)to Union Colony Insurance 2,325.00
ESCROW CHARGES
Escrow Fee to Security Title Guaranty Co. 150.00
TITLE CHARGES:
Lenders Policy$365,000.00 to Security Title Guaranty Co. 100.00
Tax Certificate(x3)to Security Title Guaranty Co. 75.00
Form 110.1(Deletions)to Security Title Guaranty Co. 75.00
RECORDING FEES:
Recording Fees to Clerk and Recorder 57.00
State Tax Stamps to Clerk and Recorder 69.75
PR ORATIONS AND ADJUSTMENTS:
County Taxes From 01/01/06 To 02/01/06 757.25 //
Based on the Annual amount of$8,916.00 339,414.45
1031 Exchange Funds
Sub Totals 703,110.75 705,171.70
•
Refund Due-Buyer• •.: . 2,060.95
Totals 705 171 70 705 171 70
. 3 ( 9? ro
. 04/0
APPROVED AND ACCEPTED: (J' n '^1�y� �
WAKE,LLLP,a Colorado limited l' lity limited !/
partnership f
i�/"7 yE
B o nson,Gene armor Broker/Agent
Colorado Deferred Exchanges,Inc.,as Qualified
Intermediary for WAKE,�� LLLP /•
�///
By: QK �L / ]Vl /itfiL(X _ —_"�
Jeff�ey edm eld, rest ant es Security'Title Gua tyCo./Closing Agrent
Printed 04/04/2006 at 3:22 PM ' Page 1
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