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Home My WebLink About20061772.tiff RESOLUTION RE: DENY PETITION FOR ABATEMENT OR REFUND OF TAXES - DIAMOND SHAMROCK REFINING AND MARKETING COMPANY WHEREAS,the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS,the Board of County Commissioners of Weld County, State of Colorado, at a duly and lawfully called regular meeting held on the 5th day of July, 2006, at which meeting there were present the following members: Chair Pro-tem David E. Long, and Commissioners William H. Jerke, Robert D. Masden, and Glenn Vaad, with Chair M. J. Geile being excused, and WHEREAS,notice of such meeting and an opportunity to be present has been given to the taxpayer and the Assessor of said County,and said Assessor, Stan Sessions, being represented by Christopher Woodruff, and taxpayer Diamond Shamrock Refining and Marketing Company,not being present, and WHEREAS,the Board of County Commissioners have carefully considered the attached petition, and are fully advised in relation thereto. NOW,THEREFORE,BE IT RESOLVED by the Board of County Commissioners of Weld County,Colorado,that the Board concurs with the recommendation of the assessor and the petition be and hereby is, denied, and an abatement or refund not be allowed as follows: CORRECTION TO ASSESSED ABATEMENT TAX VALUATION OR REFUND YEAR $0.00 $0.00 2003 2006-1772 AS0063 (0 '. /95 pa' 7--‘,77-0 6- TAX ABATEMENT PETITION - DIAMOND SHAMROCK REFINING AND MARKETING COMPANY PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 5th day of July, A.D., 2006. +' BOARD OF COUNTY COMMISSIONERS meri WELD COUNTY, COLORADO ek ' ' 1/49, ,� EXCUSED M. J ile, Chair We le to the Board at't.„p BY AUK 1�L David E. Long, Pro-Tem Dep Clerk the Board "tiny iam H. J� VV APP V AS TO F Roberti D. asd n o t ttorney P,(U (,v1._2\ Glenn Vaac Date of signature: ill(0(,p 2006-1772 AS0063 A PETITION FOR ABATEMENT OR REFUND OF TAXES Please submit in duplicate copies and answer all questions. County Name Weld County Date Received [...- -)O C 5 Use Assessors or Commissioners'Date Stamp N • ' / t i PETITIONER:Complete Section Ion this side only Section I: Date: December 22 2005 DEC / tj^l Month Day Year Petitioner's Name: Diamond Shamrock Refining and Marketing Company,Lessee WELD IASSESSOR �, COcou[viY Petitioner's mailing address: Ad Valorem Tax Department,PO Box 690110 Creel:?y, Colorado San Antonio Texas 78269-0110 City or Town State Zip Code SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY P0014846 096131416003 113 North 2nd Street,La Salle 80645 Petitioner states that the taxes assessed against the above property for property tax year 2003 is incorrect for the following reasons: (Briefly describe the circumstances surrounding the incorrect value or tax. (The petitioner's estimate of actual value must be included.) Attach additional sheets if necessary. The determination of the actual value of the Property by the Assessor is erroneous and otherwise improper because it does not accurately reflect the actual value of the Property for property tax purposes as required by the provisions of C.R.S.§§ 39-1-103 and 39-1-104.,as amended. The actual value of the Property should be reduced from the Assessor's actual value of$15,630 to the correct actual value of the Property as of July 1,2002,which is$12,180 as determined by the factors described in C.R.S.§§39-1-101 and 39- 1-103,as amended. Petitioner will supplement. Petitioner's estimate of actual value S 12,180 J 2003 ) Value Year Petitioner requests an abatement or refund of the appropriate taxes associated with a reduction in value. I declare,under penalty of perjury in the second degree,that this petition,together with any accompanying exhibits or statements,has been examined by me,and to the best of my knowledge,information and belief,is true,correct and complete. M. /� I t- eflAn.d41 Daytime Phone Number(210 ) 345-2297 Petitioners Signature By Daytime Phone Number( Agent's Signature* totter of agency must be attached when petition is submitted. Every petition for abatement or refund filed pursuant to section 39-10-114,C.R.S.,shall be acted upon pursuant to the provisions of this section by the board of county commissioners or the assessor,as appropriate,within six months of the date of filing such petition. 39-1-113(1.7),C.R.S. Section II: Assessor's Use Only 7001 Mill Levy 83.409 Tax Year Assessed Value Tax Original 15,i"30 Si 909 AR Corrected 0 0 AbatelRefund 0 0 Senders Record—Certified Article Number 7160 3901 9849 2801 3896 CO—Weld County 2003 RE and PP Petitions (FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY) RESOLUTION OF COUNTY COMMISSIONERS Resolution No. Section I: In accordance with 39-1-113(1.5),C.R.S.,the commissioners of County authorize eh assessor to review petitions for abatement or refund and to settle by written mutual agreement any such petition for abatement or refund in an amount of one thousand dollars or less per tract,parcel,or lot of land or per schedule of personal property. The assessor and petitioner mutually agree to an assessed value and tax abatement/refund of: Tax Year Assessed Value Tax Original Corrected Abate/Refund PLEASE NOTE:THE TOTAL TAX AMOUNT DOES NOT INCLUDE ACCRUED INTEREST,PENALTIES,AND FEES ASSOCIATED WITH LATE AND/OR DELINQUENT TM PAYMENTS,IF APPLICABLE. PLEASE CONTACT YOUR COUNTY TREASURER FOR FULL PAYMENT INFORMATION. Petitioner's Signature Date Assessor's or Deputy Assessor's Signature Date If Section I is not complete and/or if petition is for more than$1,000,Section II must be completed. Submit an original petition and a copy to the Division of Property Taxation. Section II: Assessor's recommendation: Approved or Approved in part$ No protest filed in (If a protest was filed,please attach a copy of NOD.) Denied for the following reason(s): bb vecommevdg drilfaj -/ 6 ----- sess or De ty As(eafors Signature Section III: WHEREAS,The County Commissioners of County,State of Colorado,at a duly and lawfully called regular meeting held on / /2003 ,at which meeting there were present the following mo day yr members: with notice of such meeting and an opportunity to be present having been given to the taxpayer and the Assessor of said County and Assessor (being present/not present)and Name petitioner (being present/not present),and WHEREAS,The said Name County Commissioners have carefully considered the within petition,and are fully advised in relation thereto,NOW BE IT RESOLVED,That the Board(agrees/does not agree)with the recommendation of the assessor and the petition be(approved/denied)and an abatement/refund be(approved/denied)for property tax year . The taxes to be abated or refunded are$ which represents an assessed value of $ Chairperson of the Board of County Commissioners'Signature I, ,County Clerk and Ex-officio Clerk of the Board of County Commissioners in and for the aforementioned county,do hereby certify that the above and foregoing order is truly copied from the record of the proceedings of the Board of County Commissioners. IN WITNESS WHEREOF,I have hereunto set my hand and affixed the seal of said County at ,this day of Time Date Month Year County Clerk's or Deputy County Clerk's Signature ACTION OF THE PROPERTY TAX ADMINISTRATOR Denver,Colorado Month Day Year The action of the Board of County Commissioners,relative to the within petition,is hereby Approved; Approved in part$ ; Denied for the following reason(s): Secretary's Signature Property Tax Administrator's Signature G\luaR,.ABATEYORMREV1-2000 PETITION FOR ABATEMENT OR REFUND OF TAXES •• Please submit in duplicate copies and answer all questions. n�/ County Name Weld t Date Received "- R -•L Use Assessor's or Commissioners Date Stamp PETITIONER: Complete Section Ion this side only RECEIVED Section I: Date: 2 28 200Year MAR 0 6 2006 Month Day Year Petitioner's Name: Diamond Shamrock Refining and Marketing Company, Lessee Petitioner's mailing address: Ad Valorem Tax Department, P O Box 690110 WELD COUNTY ASSESSOR San Antonio TX 78269-0110 Greeley, Colorado City or Town State Zip Code SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY P0014846 096131416003 113 NORTH 2ND STREET, LA SALLE 80645 Petitioner states that the taxes assessed against the above property for property tax year 2003 is incorrect for the following reasons: (Briefly describe the circumstances surrounding the incorrect value or tax) fThe petitioners estimate of actual value must be Included.) Attach additional sheets if necessary. The determination of the actual value of the Property by the Assessor is erroneous and otherwise improper because it does not accurately reflect the actual value of the Property for property tax purposes as required by the provisions of C.R.S. 39-1-103 and 39-1-104, as amended. The actual value of the Property should be reduced from the Assessor's actual value of $53,900 to the correct actual value of the Property as of July 1, 2002, which is $26,600 as determined by the factors described in C.R.S. 39-1-101 and 39-1-103, as amended. Petitioner will supplement. Petitioner's estimate of actual value$ 26,600 ( 2003 ) Value Year Petitioner requests an abatement or refund of the appropriate taxes associated with a reduction in value. I declare,under penalty of perjury in the second degree,that this petition,together with any accompanying exhibits or statements,has been examined by me,and to the best of my knowledge,information and belief,is true,correct and complete. Daytime Phone Number (210) 345-2700 Petitioners Signature By Daytime Phone Number Agent's Signature' 'Letter of agency must be attached when petition is submitted. Every petition for abatement or refund filed pursuant to section 39-10-114,C.R.S.,shall be acted upon pursuant to the provisions of this section by the board of county commissioner or the assessor,as appropriate,within six months of the date of filing such petition. 39-1-113(1.7),C.R.S. Section II: Assessors Use Only Tax Year Assessed Value Tax Original Corrected Abate/Refund Location #697 (FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY) RESOLUTION OF COUNTY COMMISSIONERS Resolution No. Section I: In accordance with 39-1-113(1.5),C.R.S.,the commissioners of County authorize the assessor to review petitions for abatement or refund and to settle by written mutal agreement any such petition for abatement or refund in an amount of one thousands dollars or less per tract,parcel,or lot of land or per schedule of personal property. The assessor and petitioner mutally agree to an assessed value and tax abatement/refund of: Tax Year Assessed Value Tax Original Corrected Abate/Refund PLEASE NOTE: THE TOTAL TAX AMOUNT DOES NOT INCLUDE ACCRUED INTEREST, PENALTIES,AND FEES ASSOCIATED WITH LATE AND/OR DELINQUENT TAX PAYMENTS IF APPLICABLE. PLEASE CONTACT YOUR COUNTY TREASURER FOR FULL PAYMENT INFORMATION. Petitioner's Signature Date A is or Deputy Assessor's Signature Date If Section I is not complete and/or if petition is for more than$1,000, Section II must be completed. Submit an original petition and a copy to the Division of Property Taxation. Section II: Assessor's recommendation: Approved or Approved in part$ No protest filed in . (If a protest filed, please attach a copy of NOD.) Denied for the following reason(s): 5 �Gl L reccOlvneinACI . c$e61ia" / -676 Ass ors D uty Assessor's Signature Section III:WHEREAS,The County Commissioners of County, State of Colorado,at a duly and lawfully called regular meeting held on / /_, at which meeting there were present the following mo day yr members with notice of such meeting and an opportunity to be present having been given to the taxpayer and the Assessor of said County and Assessor (being presentnot present) and Name petitioner (being present/not present)and WHEREAS,The said Name County Commissioners have carefully considered the written petition, and are fully advised in relation thereto, NOW BE IT RESOLVED,That the Board(agrees/does not agree) with the recommendation of the assessor and the petition be (approved/denied) and an abatement/refund (approved/denied) for property tax year . The taxes to be abated or refunded are$ which represents an assessed value of Chairperson of the Board of County Commissioner's Signature ,County Clerk and Ex-officio Clerk of the Board of County Commissioners in and for the aforementioned county,do hereby certify that the above and foregoing order is truly copied from the record of the proceedings of the Board of County Commissioners. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County at ,this day of Time Date Month Year County Clerk's or Deputy County Clerk's Signature ACTION OF THE PROPERTY TAX ADMINISTRATOR Denver, Colorado Month Day Year The action of the Board of County Commissioners, relative to the within petitiion, is hereby Approved; Approved in part$ ; Denied for the following reason(s): Secretary's Signature Property Tax Administrator's Signature G\USR\.)ABATE'FORMREV1.2000 Location #697 ,,L WLERO Ad Valorem Tax 7a ENERGY CORPORATION Certified Article Number 7160 3901 9840 0108 6571 Via First Class Mail SENDERS RECORD Stan Sesssions Weld County Tax Assessor 1400 N. 17th Avenue Greeley,Colorado 80631 RE: Petitions for Abatement; Letter of Representation; Schedule No.'s 4060986 096131416003; P0014846 096131416003. Dear Mr. Sessions: The purpose of this letter is to provide notice to your office that the following law firm has been retained to represent Diamond Shamrock Refining and Marketing Company in regard to the petitions for abatement filed with your office for year 2003 as reflected above: Christopher C.Rosas Colorado Bar No. 33018 PHILLIPS&AKERS,P.C. 3200 Southwest Freeway,#3400 Houston,Texas 77027 (Voice): 713.552.9595 (Facsimile) 713.552.0231 Please note in your records that copies of all notices or communications by the Weld County Assessor's Office or the Weld County Board of County Commissioners should also be mailed to this office c/o Christopher C. Rosas. Please feel free to contact me with any questions. Very truly yours, 'YNlt\\ ikfJ,4,a,k, John Aranda CCR Cc: Weld County Board of County Commissioners 915 Tenth Street Greeley,Colorado 80632 RECEIVED FEB 1 3 2006 WELD COUNTY ASSESSOR Greeley, Colorado -SHAREHOLDERS_ PHILLIPS & AKERS KELLY A.DEMPSEY MICHAEL PHILLIPS NEAL D.KIEVAL BROCK C.AKERS ATTORNEYS AT LAW STEPHEN J.WESOLICK TERRY M.WOMAC A PROFESSIONAL CORPORATION THOMAS R.SULTON CHRISTIANADIJKMAN BRADLEY M.BINGHAM -ASSOCIATES- LISA GAYE MANN 3400 PHOENIX TOWER JENNIFER L.HOUSE PAULA.APPLE RICK GIBSON 3200 SOUTHWEST FREEWAY AAMICHELLE M Hoosc w'" -DIRECTORS- BRANDON S.CLARKE HOUSTON,TEXAS 77027-7523 CHARLES V.GONZALES DAVID B.EDWARDS FIONA 5.GOCDISON LYNNE M.FORD AUDREY W.LOWETH JANET G.TOWNSLEY (713)552-9595 MARJORIE C NICOL EVELYN U CHRISTOPHER DERRINGTON FAX (713)552-0231 SAMUEL JAMES P MCNERNY W VEENSTRA DOUGLAS M.WALLA WWW.PHILLIPSAKERS.COM MEGAN A.WHITLOCK LYNNE JUREK SHANNONLAUREN M.WILLIAMS February 27, 2006 Via Certified Mail Return Receipt Requested Weld County Tax Assessor Attn: Janice 1400 N. 17th Avenue Greeley, Colorado 80631 RE: Petitions for Abatement (PP) Year 2003; Submission of Working Papers, Appraisals and Supplemental Petitions. Dear Janice: These working papers and all enclosed information is being submitted in support of the petitions for abatement regarding personal property filed with your office for tax year 2003 for the Petitioners reflected in Exhibit "A". Petitioners have enclosed appraisals of specified items as of January 1, 2003. Also enclosed are Petitioners' Supplemental Petitions for Abatement setting forth their proposed actual values now that appraisals have been received. In addition to this information, Petitioners set forth in the body of these working papers their explanation in support of proposed valuations. Determination of Actual Value Underground fuel storage tanks ("UST") owned by Petitioners in Weld County and subject to assessment as personal property by the Weld County Tax Assessors Office constitute a significant portion of Petitioners' personal property assessed by Weld County. According to the Division of Property Taxation ARL's, which the assessors are bound to comply with, the assessor must examine the "characteristics and condition of[a parcel of] property" to determine a "clear, current and detailed description of the subject property before estimating value." If circumstances exist under which the three (3) appraisal methods do not provide a clear basis for determining actual value, the assessor should look to all existing information in an effort to ensure that its determination of actual value is accurate "to the extent which is equitably and practically possible." It is only by the examination and consideration of all information that the true nature and physical condition of the personal property may be determined. Based on the unique characteristics of a UST, the cost, market and income approaches, as employed by the Weld County Tax Assessor's Office, do not provide an accurate basis for determining actual value. Specifically, federal and state regulations require Petitioners to perform numerous and costly remediation measures prior to the replacement of a UST. These remediation measures are cost prohibitive and result in an actual value at or near zero when deducted from the replacement cost new of a UST. Costs for these remediation measures are obligatory and should be deducted from the original costs of a UST. Any determination of actual value by the Weld County Tax Assessor's Office which fails to consider the costs of these remedial measures, and to allocate an appropriate deduction to the actual value of the underground storage tanks, is erroneous based on the express provisions of the Colorado Constitution, statutes, case law and Division of Property Taxation ARL's. Respectfully Submitted, art e, Roam_ Christopher C. Rosas CO Bar No.: 33018 3200 Southwest Freeway, #3400 Houston, Texas 77027 (Voice): 713.552.9595 (Facsimile) 713.552.0231 Attorney for Petitioners, TPI Petroleum, Inc., Diamond Shamrock Refining and Marketing Company and Diamond Shamrock Stations, Inc. CCR Enclosures EXHIBIT "A" PETITIONERS AND SCHEDULE NUMBERS Petitioner, TPI Petroleum, Inc. Schedule Numbers (PP): P0012682; 147106132016. Petitioner, Diamond Shamrock Refining and Marketing Company, Lessee Schedule Numbers (PP): P0014846; 096131416003. Petitioner,Diamond Shamrock Stations, Inc. Schedule Numbers (PP): P0009071; 095913300008. Valero TT --_ ._--_._....-. ....Summary-Weld County-2003 Equipment Tanks Total Store No. Address Actual Value Actual Value Actual Value Tanks 1. 641 2720 35th Avenue ' $ 18,700 $ 400 $ 19,100 4 (Greeley, CO 2. 697 1 1 3 North 2nd Street $ 19,100 $ 300 $ 19,400 3 La Salle, CO I _ -+--r- 3. 4109 101 Denver Avenue $ 21,100 i 1 $ 300 $ 21,400 3 Fort Lupton, CO Total- $ 58,900 $ 1,000 $ 59,900 Page 1 of 1 Car Washes - Colorado County Store No. Manf Model Age Actual Value Weld 697 PDQ Laser 4000 1996 $ 7,200 VALERO APPRAISAL OF SPECIFIED ITEMS AS OF JANUARY 1, 2003 WELD COUNTY, COLORADO STORE NO. 697 FILE NO. 7344 Nationwide Consulting Company, Inc. NCC NATIONWIDE CONSULTING COMPANY,INC. P.O.BOX 548,66 GLEN AVENUE,GLEN ROCK,NEW JERSEY 07452 www.nccpes.com TEL(201)670-7400 FAX(201)670-7959 info@nccpes.com February 17, 2006 Mr. Roy G. Martin, Jr. Director Ad Valorem Tax Valero Energy Corporation One Valero Way San Antonio, TX 78249 Dear Mr. Martin: As requested, we have enclosed our summary appraisal report of specified items as described herein located at Store#697, 113 North 2"d Street, La Salle, Colorado. The purpose of our appraisal was to estimate the Fair Market Value (Actual Value) of the property to assist you with property tax matters. The property included items of personalty typically found in a C-store. We have not included any land, land improvements, buildings or structures, books of account, items of an intangible nature, or any item not specifically addressed within the body of this report. Based on the analyses contained herein, it is our opinion that the subject property showed the Fair Market Value (Actual Value) as set forth below as of January 1, 2003: Equipment/Personal Property $19,100 Tanks $ 300 Our appraisal was prepared in conformance with the Uniform Standards of Professional Appraisal Practice ("USPAP") of The Appraisal Foundation, and is subject to the Statement of Limiting Conditions contained within the body of this report. Under the relevant sections of USPAP, a summary appraisal report discloses sufficient information to the reader with respect to the procedures employed, the methodologies considered, and the results achieved from application of specific valuation methodologies. Consistent with the requirements of USPAP, the undersigned has maintained workpaper and electronic files that detail all information considered, analyses performed and conclusions reached. Such files are available for inspection upon request. Respectfull. itted, John J. C o ly III, ASA, CMI Execu iv Ice President & Chief ' nancial Officer JJC:ac:kab Nationwide Consulting Company, Inc. TABLE OF CONTENTS Letter of Transmittal Table of Contents ii Statement of Limiting Conditions 1 Methodology Purpose and Date of the Appraisal 3 Scope of the Engagement 3 Definition 4 Ownership Interest 4 Highest and Best Use 5 Appraisal Process 5 Cost Approach 6 Market Approach 7 Income Approach 7 Conclusion 8 Certification 9 Qualifications of the Appraiser 11 Addenda 15 1 STATEMENT OF LIMITING CONDITIONS 1. No investigation has been made of, and no responsibility is assumed for, the legal description of the property, or legal matters, including title or encumbrances. 2. Information furnished by others, upon which all or portions of this study is based, is believed to be reliable but has not been verified except as stated in this report. No warranty is given as to the accuracy of such information. 3. This study has been made for the purpose stated and shall not be used for any other purpose. Neither this study nor any portions thereof including any conclusions, the identity of Nationwide Consulting Co., Inc., or any individuals signing or associated with this study, or the professional associations or organizations with which they are affiliated, shall be disseminated to third parties by any means without the prior written consent of Nationwide Consulting Co., Inc. 4. Neither Nationwide Consulting Co., Inc., nor any individual signing or associated with this study shall be required by reason of this study to give further consultation, provide testimony or appear in court or other legal proceedings unless specific arrangements have been made therefor. 5. It is assumed that all required licenses, certificates, or the like, from any local, state or national government, or private entity, have been, or can readily be, obtained or renewed for any use on which the conclusions provided in this study are based. 6. It is assumed that there is full compliance with all applicable federal, state and local laws and regulation unless otherwise stated. 7. Responsible ownership and competent management are assumed. Nationwide Consulting Company, Inc. 2 STATEMENT OF LIMITING CONDITIONS (Continued) 8. We have no knowledge of the existence of any hazardous material on, in, or near the property. We are, however, not qualified to detect such substances. The presence of any potentially hazardous substance may affect the conclusions in this study. The conclusions contained herein are based on the assumption that there is no such material on, in, or near the property that would cause a change in our conclusions. No responsibility is assumed for any such conditions or for the expertise required to discover them. The client should retain an expert in this field if further information is desired. 9. No operational test has been conducted of the assets addressed in this study. Nationwide Consulting Company, Inc. 3 METHODOLOGY Purpose and Date of the Appraisal The purpose of this appraisal was to estimate the Fair Market Value (Actual Value) of specified items of personal property located at Store #697, 113 North 2"d Street, La Salle, Colorado, to assist you with property tax matters. The effective date of the appraisal is January 1, 2003. Scope of the Engagement The scope of our appraisal included specified items of personal property located at a typical C-store. The property included items such as fuel dispensers, coffee and soft drink equipment, refrigerators, display units, point-of-sale equipment, etc. We have not included any land, land improvements, buildings or structures, books of account, items of an intangible nature, or any item not specifically addressed within the body of this report. Nationwide Consulting Company, Inc. 4 METHODOLOGY (Continued) Definition Fair Market Value ("FMV"), is defined by the American Society of Appraisers in Valuing Machinery and Equipment, 2000, p. 3, as the estimated amount, expressed in terms of money, that may reasonably be expected for a property in exchange between a willing buyer and a willing seller, with equity to both, neither under any compulsion to buy or sell, and both fully aware of all relevant facts, as of a specific date. For purposes of this report this is synonymous with Actual Value as defined in the Colorado Constitution (Colo. Const. Art. X, §3(1)(a)). Ownership Interest The property is valued in fee simple ownership which means that there is absolute and unqualified legal title to the property. The owner(s) has unconditional power of disposition of the property. Fee simple ownership may exist with respect to property owned jointly or solely. We assume the property exists in fee simple ownership. Nationwide Consulting Company, Inc. 5 METHODOLOGY (Continued) Highest and Best Use For personal property appraising, the USPAP Glossary defines Highest and Best Use as: The reasonably probable and legal use of personal property that is physically possible, appropriately supported, and financially feasible, and that results in the highest value in the appropriate marketplace. We believe the current use of the property is its highest and best use. Appraisal Process The starting point for our work was comprised of asset lists of the property provided by you, a personal inspection of the property and in-depth meetings with knowledgeable appropriate personnel to discuss all pertinent data affecting the subject. We then considered the three classic approaches to value - Cost, Market, and Income - in determining our estimates of value. The Cost Approach measures the value of an asset by the cost to replace it with another of like utility. The Market Approach measures the value of an asset by comparing it to sales or offerings of comparable assets. The Income Approach measures the value of an asset by the present value of its future benefits. Nationwide Consulting Company, Inc. 6 METHODOLOGY (Continued) Cost Approach The first step in the cost approach is to estimate the cost-new for the assets. Subsequent to determining the cost-new for the assets, adjustments are made for normal depreciation, where applicable. Depreciation may be found in the physical, functional or economic aspects of the property, defined as follows: Physical Depreciation is the decline in value caused by wear and tear, decay, deterioration arising from age, exposure to harmful elements, or loss not prevented by current maintenance. Functional Obsolescence is the lack of desirability or loss of utility in terms of design, or production deficiencies resulting from technological innovation. Economic Obsolescence is adverse conditions external to the property such as poor market demand for the product, industrial reorientation, unavailability of raw materials, or excessive governmental regulations. Nationwide Consulting Company, Inc. 7 METHODOLOGY (Continued) Cost Approach (Continued) We did not use this approach to value because of the data available in the used market place for property such as the subject. Market Approach Given the nature of the property, we were able to uncover sufficient sales and offerings of the same or similar property that could be considered an active marketplace. Because of this fact, we relied primarily on the market approach to determine our value conclusions. A listing of the subject property showing the value for each line item can be found in the Addenda of this report. We have also included a listing of general data sources we relied upon for our analyses. Income Approach We considered the income approach and concluded that it was inappropriate. It is not possible to attribute income to the individual property units that constitute an operating entity since the assets contribute to earnings only in concert with all other economic factors of operation. Nationwide Consulting Company, Inc. 8 CONCLUSION Based on the foregoing methodology, we estimated the total value of the subject property, as of January 1, 2003 to be: Equipment/Personal Property $19,100 Tanks $ 300 Total $19,400 Nationwide Consulting Company, Inc. 9 CERTIFICATION We certify that, to the best of our knowledge and belief, except as otherwise noted in this report: 1. The statements of fact contained in this report are true and correct. 2. The reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions, and are our personal, unbiased professional analyses, opinions and conclusions. 3. We have no present or prospective interest in the property that is the subject of this report, and we have no personal interest or bias with respect to the parties involved. 4. Our compensation is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event. 5. Our analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Uniform Standards of Professional Appraisal Practice of The Appraisal Foundation, and the Principles of Appraisal Practice and Code of Ethics of the American Society of Appraisers. 6. John J. Connolly and Kal Barrow are in compliance with the American Society of Appraisers' mandatory recertification program for all of its Senior members. Nationwide Consulting Company, Inc. 10 CERTIFICATION (Continued) 7. John J. Connolly made a personal inspection of selected locations for this assignment. All locations were physically inventoried by others and spot checked for accuracy. 8. Kal Barrow, ASA provided significant professional assistance to the person signing this report. 9. This appraisal assignment was not based on a requested minimum valuation, a specific valuation, or the approval of a loan. Respectfully bmitted, John J. C 1y III, ASA, CMI Execu iv rice President& Chief Financial Officer Nationwide Consulting Company, Inc. 11 OUALIFICATIONS OF THE APPRAISER JOHN J. CONNOLLY III, ASA, CMI EDUCATIONAL BACKGROUND St. Peter's College, Jersey City, New Jersey B.S. Accounting International Association of Assessing Officers Income Approach to Value Cost Approach to Value Appraisal Institute 1A1 Real Estate Appraisal Principles 1A2 Basic Valuation Procedures 1BA Capitalization Theory &Tech Part A 1BB Capitalization Theory &Tech Part B 2-1 Case Studies in Real Estate Valuation Standards of Professional Practice 2-2 Report Writing and Valuation Analysis MEMBERSHIPS AND AFFILIATIONS ASA—Past International President (2002-2003) American Society of Appraisers, Senior Member (ASA), Machinery/Technical Specialties, Real Estate Institute for Professionals in Taxation, Certified Member of the Institute (CMI) Past President, Northern NJ Chapter, American Society of Appraisers Co-Chairman, International Board of Examiners, Machinery/Technical Specialties, American Society of Appraisers - 1992 Chairman, International Machinery/Technical Specialties Committee, American Society of Appraisers — 1991-1993 Nationwide Consulting Company, Inc. 12 QUALIFICATIONS OF THE APPRAISER(Continued) JOHN J. CONNOLLY III, ASA, CMI MEMBERSHIPS AND AFFILIATIONS (Continued) First Honorary Member—ANEVAR—The National Association of Romanian Valuers Former Editor of Machinery &Equipment Journal New Jersey State Certified Appraiser (License No. RG00168) Past International Education Chairman, Machinery/Technical Specialties, American Society of Appraisers Course Developer for Machinery/Technical Specialties, American Society of Appraisers Former Chairman, Professional Designation Committee, Institute for Professionals in Taxation for Sales Tax Duties including initiating and devising written examination, interviewing candidates for designation and proctoring exam. LECTURES AND PUBLISHINGS Guest Lecturer for the following organizations on a variety of subjects: Yeshiva University Institute for Professionals in Taxation American Society of Appraisers - Various Functions Institute of Real Estate Management AT&T Tax Executive Institute Investment Recovery Association Various Financial and Insurance Institutions Nationwide Consulting Company, Inc. 13 QUALIFICATIONS OF THE APPRAISER (Continued) JOHN J. CONNOLLY III, ASA, CMI LECTURES AND PUBLISHINGS (Continued) Certified Instructor - American Society of Appraisers, Machinery & Equipment/Inventory—Courses 201, 202, 203, 204, 205, 206. Instructed on an international basis with most recent assignment in Slovenia, formerly Yugoslavia, at request of Slovenian Government to set up certification program for the Machinery/Technical Specialties. Also instructed in Mexico, England, Australia and Romania. Co-Author - The Appraisal of Machinery and Equipment, 1988. Co-Author- Valuing Machinery and Equipment, 2000. Former Editor - Machinery and Equipment Newsletter, American Society of Appraisers, 1983-1985 EXPERIENCE At present, Executive Vice President & Chief Financial Officer with Nationwide Consulting Company. Since 1972, engaged in the appraisal of machinery and equipment/inventory and real property including light, heavy industrial and commercial properties. Appraisal assignments conducted include various inventory valuations, semi-conductor manufacturing facilities, phosphate mining and chemical plants, steel processing, pharmaceutical, strip mining equipment, aircraft assembly equipment, printing equipment, chemical plants, refineries, food processing facilities, breweries, bulk oil terminals, petroleum refineries, paper plants and various other process facilities both heavy and light industries. Assignments were completed for the following: mergers, acquisitions, bankruptcies, dispositions, insurable values, ad valorem taxation, residual Nationwide Consulting Company, Inc. 14 QUALIFICATIONS OF THE APPRAISER (Continued) JOHN J. CONNOLLY III, ASA, CMI EXPERIENCE (Continued) value estimates, useful life analysis, allocation of purchase price, feasibility studies and excess operating cost studies. These assignments have been conducted in the Continental United States, Mexico, Canada, England, Germany, various Eastern European Nations and Australia. Qualified as an expert witness before various County Boards of review in the United States including San Diego, Orange, Alameda, Los Angeles, Santa Clara and San Bernardino Counties, California; St. Louis County, Missouri; Lake County, Indiana; Putnam County, Illinois; Middlesex County, New Jersey; Hamilton County, Florida and various other boards. Qualified as an expert witness in other courts such as Superior Court in Connecticut, Bankruptcy Court in the Delaware, Philadelphia, Ohio and New York districts, and Circuit Courts in Florida, and various District Courts in Texas. Also qualified before the Tax Appeal Boards in the following states: New Jersey, Montana, Indiana, New York, Pennsylvania, California, Connecticut, Ohio, Maine, Georgia, Arizona, North Carolina, South Carolina, Texas, Washington, Michigan, Kentucky, West Virginia, Oregon, Utah and Delaware. Nationwide Consulting Company, Inc. 15 ADDENDA _ Nationwide Consulting Company, Inc. 0 ND d N_ O OVI O CD D M V1 69 R 69 69 69 :r •.1 �; R 7 co Q 44 4 C C 0 C u as as w a c` � N a o �c O o u o 0, U U U a a NN a � � U 1.4 U1. C a w 75 O a C C .ed C 'a Ti C C C ,. g O o y � PP PO Or p, U 8 E O --1 - U bA C r..► D C w, O 4.1 ^' U HI � U QI X' 1 ' .yam, 3W �� c C]O ca. goW C ii W w NAso C O� A o o W u, U V U Z v w tn Es 4 4 4 4 4 C ) ) k ( ( Ca u u u u es es U f \ ® \ \ f a C Dt ' # / \ § © ) ) 0 © ) a ca 0 R § © O 4 Q o / e $ / § & ■ c ! 0 c \ § E / ® s 2 \ , w . @ ) \ } a ) ) \ 2E k 2 § ) - \ « u cv ra \ o k 7 3 C.) = 7 0 7 ! ! $ ! ! k o 0 O O U u u u u >.. \ - / - \ / - c.. O 0 0 . / O O : ) ) ) ) ) A › ) › E U / cn 2 CY CY ( j 7. % hi \ \ \ ) al s. _OM \ k a 2 E \ } ( 6 5 | \ / : ) I • 0 in 0 \ \ \ \ \ \ i 4 4 ! - V � ) \ B k 0 B ) B - - # § co U u u U U - � U / - \ - \ - \ - - / © - - 0 — , C L L L.I io io EE 6 ) ) ) ) ) ) ) i \ { ® E c / § t $ a ) & cn ( / 14 \ / § \ U � a ( [ � ; s — ± E * § § « « $ ' t0 C - w ° ) E2 ' w $ m » ) b ) e ) a « » § a � / ee = ] f ( / u r 2 cS � / ` EE f ) 0 < < C o } § \ ) \ \ 2 « 8 0 0 N be, a .r ,-I od a a esi - .ti EA EA N rq N_ o u h _ N 'O a h en J b en U H n C0 Co E O co) on 0 O O O U co y A O p C C .O V u G, P7 A 0.l `a C o 4 y .i. il JE N» to .`a., N p, Q co N 1 N L G d t p .J 3 Q id .3 N •O g ti I O al, m a d ' a G .i.'q+ FO SzQm Q a • et Z it Le. :** : CLERK TO THE BOARD �1 PHONE (970) 336-7215, EXT. 4225 /�Tj, FAX: (970) 352-0242 P.O. BOX 758 GREELEY, COLORADO 80632 11 C. COLORADO June 8, 2006 Diamond Shamrock Refining and Marketing Company P.O. Box 690110 San Antonio, TX 78269-0110 RE: SCHEDULE NUMBER P0014846 Dear Property Owner: This is to advise you that the Weld County Board of Commissioners will hear your petition for abatement or refund of taxes on the property described as: 113 North 2nd Street, LaSalle, CO 80645. The meeting is scheduled for July 5, 2006, at 9:00 a.m., in the First Floor Meeting Room, Weld County Centennial Center, 915 10th Street, Greeley, Colorado. The Assessor is recommending that the Board deny your petition. You are not required to be present at this hearing, however, this is your opportunity to have your position heard, especially if your position is opposed to the Assessor's recommendation. If you intend to submit any documentation in support of your position for this hearing, all such documentation must be submitted to the Office of the Clerk to the Board and to the Weld County Assessor's Office at least seven calendar days prior to the meeting date in order for it to be considered at the scheduled hearing. If you have any questions concerning this matter, please do not hesitate to contact Esther Gesick at (970) 336-7215, extension 4226. Sincerely, d ` C DE Esther E. Gesick Deputy Clerk to the Board cc: Assessor Christopher Rosas Phillips and Akers, P.C. 3200 Southwest Freeway, #3400 Houston, TX 77027 2006-1772 ars.H.H tCLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 O GREELEY, COLORADO 80632 COLORADO July 21, 2006 Diamond Shamrock Refining and Marketing Company Ad Valorem Tax Department P.O. Box 690110 San Antonio, TX 78269-0110 RE: SCHEDULE NUMBER P0014846 Dear Property Owner: On July 5, 2006,the Board of Weld County Commissioners considered your petition for abatement or refund of taxes and denied same. Pursuant to Section 39-2-125(f), C.R.S., you have the right to appeal this decision to the State Board of Assessment Appeals within thirty days. You may obtain the appropriate forms and instructions from the Board of Assessment Appeals, Department of Local Affairs, 1313 Sherman Street, Room 420, Denver, Colorado 80203. Very truly yours, Donald Ateri Clerk to the Board By 1../le t_<, z ^ Deputy Clerk to the Board cc: Assessor Christopher Rosas Hello