HomeMy WebLinkAbout20062057.tiff RESOLUTION
RE: THE BOARD OF EQUALIZATION, 2006, WELD COUNTY, COLORADO - GRANT
PETITIONER'S APPEAL
PETITION OF: KGF INC
DBA/ FRITZLERS CORN MAZE
15630 HWY 256
LASALLE, CO 80645
DESCRIPTION OF PROPERTY: ACCOUNT #: P3021605 PARCEL #: 105722000010 -
17159-A PT NE4 22 4 66 SITUS: 15630 256 HWY
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 2006, 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 2006, claiming that the property described in such petition was assessed too
high, as more specifically stated in said petition, and
WHEREAS, said petitioner
being present, 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 Board of Equalization, that the evidence presented at the hearing fully
supported the value placed upon the property by the petitioner. The assessment and valuation of
the Weld County Assessor shall be, and hereby is, adjusted as follows:
ACTUAL VALUE
AS DETERMINED ADJUSTED
BY ASSESSOR ACTUAL VALUE
Land $ 0 $ 0
Improvements OR
Personal Property 217,286 64,350
TOTAL $ 217,286 $ 64,350
2006-2057
AS0064
(p '. KC, 0At, PEI-- C8'-D$ O6
RE: BOE - KGF INC
Page 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the
1st day of August, A.D., 2006.
BOARD OF UNTY COMMISSIONERS
Lai WELD CO TY, COLORADO
ATTEST: Li, �� � � ate...-
1861 �''kt;*�„�
ails, Chair
Weld County Clerk to th
,I p 1
U # Davi E. Long, Pro-Tem
BY:
Deputy Clerk . the oard EXCUSED
Wil H. Jer(kee
ED RM:
Robert q. Masdeenitac
stant County Attorney
Glenn Vaad
Date of signature: 8/7/o?Dc%
2006-2057
AS0064
NOTICE OF DENIAL OFFICE OF COUNTY ASSESSOR
1400 NORTH 17th AVE.
I 0
'tern 17159-A PT NE4 22. 4 66 SITUS : 15630 GREELEY,CO80631
# ye r 256 HWY PHONE(970)353-3845,EXT.3650
www.co.weld.co.us
OWNER: KGF INC
COLORADO
KGF INC LOG BOO
DBA/ FRITZLERS CORN MAZE PARCEL 105722000310
15630 HWY 256 ACCOUNT P3021605
LASALLE,. CO 30645 YEAR 2006
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):
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 Cllan7rj has tri t mane to Il.1 - va.1'uatLon of .i 2 J �. :s •C l ado ow
re. �ll i i - ✓,
t F:� ._, L..: send ..._� notice �r denial for did. T..CJ'�'t C1E'.L4 � ]"' ]r:. C )- C7P. !10 not
adjust tbe
PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE
OF VALUE ACTUAL VALUE ACTUAL VALUE
PRIOR TO REVIEW AFTER REVIEW
ERSC AL PROP 217286 217288
•
TOTALS $ $ 217286 717286
APPEAL DEADLINES: REAL PROPERTY—JULY 15,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. Please see the back of this form for detailed information on filing your appeal.
07/10/2006
By: Stanley F. Sessions
WELD COUNTY ASSESSOR DATE
ADDITIONAL INFORMATION ON REVERSE SIDI 2006-2057
YOU HAVE THE RIGHT TO APPEAL THE ASSESSOR'S DECISION
The County Board of Equalization will sit to hear appeals beginning July 1 and continuing through August 5 for real
property(land and buildings) and personal property(furnishings, machinery, and equipment). § 39-8-104 and § 39-
8-107(2), C.R.S.
ntrAnwa mum
If 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 17 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
You will be notified o the time and place set for the hearing of your appeal.
ing0I Ain*OVIS:DETERMINATIOMIO
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 5.
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):
Contact the BAA at 1313 Sherman, Room 315, Denver, Colorado 80203, (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, you must file an appeal with the Board
of Assessment Appeals by September 11.
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.
M 'NA R OI DA
10 BR
-O6
PR-207-87/03
WELD COUNTY
STANLEY F. SESSIONS COUNTY ASSESSOR
CHRISTOPHER WOODRUFF, DEPUTY ASSESSOR
APPRAISAL REPORT
OF
PERSONAL PROPERTY
FOR
County Board of Equalization
KGF INC
PETITIONER
Vs.
WELD COUNTY ASSESSOR'S OFFICE
RESPONDENT
Schedule Number: P0005509
Log Number: 800
Date: August 1, 2006
Time: 10:40 AM
Board: COUNTY BOARD
PREPARED BY
APPRAISERS NAME
RAELENE CHURYK 7/27/06
Signature Date
ASSESSOR'S OFFICE STAFF APPRAISER
CBOE_PP_010998
Page 1
COST APPROACH
Location of the subject property is:
Street Address 15630 256 HWY
City LASALLE
Pursuant to Colorado Revised Statutes the cost approach of Personal Property listed on the above
mentioned property is attached, along with a copy of the declaration and/or correspondence from the
petitioner. Also included is a copy of the 2006 Personal Property Tables distributed by The Division of
Property Taxation, and approved by the Statutory Advisory Committee.
NARRATIVE
The property in question is personal property associated with the corn maze located at 15630 State
Highway 256, LaSalle, CO 80645. This is a seasonal commercial business that operates a limited
period of time each year.
The value of$217,286 was arrived at by using the IRS tax depreciation scheduled submitted with the
taxpayers 2006 Personal Property Declaration Schedule on February 24, 2006. The actual value was
determined using all of the assets reported, the year they were purchased and the cost reported on
the depreciation schedule. The appropriate tables mandated by the Division of Property Tax, were
applied to arrive at the actual value.
Mr. Fritzler protested his valuation for 2006 based on the County Board of Equalization decision in
2005 to reduce his actual value from $197,424 to $89,300.
After further review the assessors office is willing to adjust the 2006 actual value from $217,286 to
$126,629. Using the value that the commissioners approved in 2005, of $89,300 along with additional
equipment purchased in 2005 with a depreciated cost of$37,329 the new value would be $126,629.
The new assets purchased in 2005 had a total cost of $45,844
COST APPROACH VALUE
$126,629
CBOE_PP_010998
Page 2
MARKET APPROACH
Pursuant to Colorado Revised Statute the Assessor has considered the Market Approach to value on
Personal Property. Due to the insufficient information for the market of personal property, the Weld
County Assessor has not utilized the Market Approach.
INCOME APPROACH
Pursuant to Colorado Revised Statute the Assessor has considered the Income Approach to value on
Personal Property. Due to the insufficient information for the income on Personal Property, the Weld
County Assessor has not utilized the Income Approach.
CBOE_PP_010998
Page 3
CONCLUSION
The subject property has been classified as Personal Property for property tax purposes. Personal
Property values shall be determined by appropriate consideration of the Cost Approach, Market
Approach, and Income Approach to value. (39-1-103)(5)(a) CRS} The Assessor has considered the
three approaches to value for the subject property.
It is the petitioner's responsibility to provide sufficient evidence to substantiate that the Assessor's
value is incorrect.
After consideration of the three approaches, it is the Weld County Assessor's request that the value of
$126,629 be affirmed for the tax year 2006.
FINAL VALUE
$126,6291
CBOE_PP_010998
Page 4
UUNI(IWL15TIAL ASSESSMENT DA'T'A'
— MAIL ro.. PERSONAL PROPERTY JANUARY 1 .
WELD COUNTY ASSESSOR DECLARATION SCHEDULE
' 1400 N.It AVE GREELEY.Ca PAM rc,wanlw Date) DUE DATE APRIL
Pna(9,0)3534845 Fax(9,0)304-64.332006
— Endo gattainrrillettco w,dco,us- -
Return This Copy ASSESSOR'S USE ONLY
PLEASE READ INSTRUCTIONS ON RECEIVED - 1
REVERSE VIDE BEFOREFRoclzorNn COLALEFS .72/J"' / Kev--
SIGN ATOP RETURN ThIS CC •
LATE FILING FEE YES(t NO 34
•
PIN NitTRIBER TA CODE BA CODE PARCEL NUMBER
P3021605 0108 25186 105722000010 16749 1
s KVF MANDRILS: - SHOW CHANGES IN NAME AND ADDRESS
DBA/ERITZLERS CORN MAZE 'f, E(EI�''/y I3-0n'F= ss
15830 HWY 256 ��a,+.. J'ER & 005255
LASALLE,CO 80645 PREVIOUS CANNER'S NAME R ADDRESS
FEB 2 ". tern°,'
PHYSICAL LOCATION OF WE PERSONA.PROPERTY SHOW CHANGES OF PHYSICAL LOCATION.
AS O►JANUARY I ASSESSMENT DATE: - WELD COUNTY ASSESSOR
15630 256 HWY
17159-A FT NE422466 SITUS:15630 Iiroe y, Colorado
a BUswEas:stern up Dal. 7/2000 Spwrc Ronan.Thai The Ba mar Occupies prosm on sot,,„„p,,ded. Corn Maze
C. BUSINESS STATUS(Phase check the appropriate pars oNLYI.
❑NEW MISINESSIORGANIZATION.Tor most pre n craepine Itemized Winn of all personal pawn Ise the furl pat of Seaton and atec hahekts1 if needed.
In amrdazo with i 30-a-I IP 5,C R.S.,em are uV required to file dug dedamuon tf m.total actual saint(market easel:recur paaawl proyeln pa-cotton tz S',SOCI rr
lea If wet sea fuze Line 615 oe me siinste a to whether the(dal anrnl,aLw N vow felnrel Doren per county exceeds 8`55).pleat.contact the camp assessor.
The veneer my ether your biplane for as midi,regardless((wham.nee Ilk a deakaatma schtthole.
■EXISTING ETTSINESRIORG.ANIZATION Lebcne r..ADDITIONS Six DELETES last,bongs SerwmD
O NEW OWNER OF PRE\IOITSLY EXISTING RUSINLSSORG,ANI2ATION You must ante craplse retuned hunk of all pna-eal pzrynn acu,aed us e
bowmen peclase. Lettde a4Ytinu made oar to Ian 1 since thin prcln e
O AS OF JANUARY'I.WERE YOU OJT OFRIIIENFSS?II yes checkfo&evup Mesons'Pt operas Sold tBczasl Prgrm Stoned Date ScedSvef
If Sold Name and Contact Edmonton)Net,Owner of the Perscssl Propeny PHONE.
If.Sold Stag Rte.of Reanzb ut.Asset,,an113qupment ONt-$ NOTE If atw to more than one New()wiser.Please attach a henna et New(smaa
O PROPERTY CHANGED LCC.ATION TO ON DATE.
H ITEMIZED LISTING OF PERSONAL PROPERTY': ••FOR THE MOST ACCURATE ASSESSMENT.IT IS RECOMMENDED THAT YON'ATTACH
A COMPLETE ITEMIZED ASSET LISITNO\%1TH EACH RUMNESS PERSONAL PROPERTY DECLARATION FILING.** Nett.Lnhde.ALL Expensed
Ana°\Vita a Life of sheets Than I Yea',MI5 Depectmed.Assets Still nc Use.and SLnedAssets That Ate Stdh,ed to IRS Deft nation oar ALL I1RtoNAL nnan'
ACQPRY1 PRIOR TO WAYARy 1.1TnAee sePAaATteae[tneVrvtm13.
ITEll TEAR COMPLETE DPSI'RIRIONINCLIDING YOUR ORIGINAL FACTOR: SPECIFY II'El.t. SON
II) ACQUIRED MODEL OR CAPACITY INSTALLED COST LIFE NEW OR rhert HATED
INTO
NO USED 319mr,
YW00r I 20" %PQ%DE"AMR 3,345.00 1/6
000002 2004 ANIMATRONICS 17,634.00 1/6
000003 2004 ' 'PITCB BLACK. . 43,684.001 1/10
000004 2004 CLAW 90,824.001 1/10
000005 2004 TICKET SHED ..1,156,00/ 1/10
000006 2004 PEDAL CARTS 2,473.00 1/10
000007 2004,. FOG SYSTEM - 4,851.00 1 1/6
000008 2003 LIGHT FIXTURES 1,598.00" 1/10
000009 2003 ROCKDN GRANNY 3,942.00 1/10
000010 2003 HANGING VAMPIRE 853.00 1 1/10
000011 2003 SHAKE&BAKE 4,212.001 I/10
000012 2003 MACHINE GUN SOUND 47000" 1/6
000013 2003 TENT 8.387,00"' 1/10
000014 2003 AIR COMPRESSOR 981.00'1 1/I0
000015 2003 BRIDGE 514.00" I/10
000016 2003 LAWN MOWER 1,017.00 1/10
b I,O -
IF NO ADDTTIONS OR DELETIONS C'HEC'K HERE C) THIS RETURN IS SUBJECT TO AUDIT
I a. h row w Y sin e,*a w..w,euc`m'.a (nofs "1 m ea.e:ui Tel: m.en'eetees, .:r.ml`,'V.se`.a.o....te.:
a1.Ti1'�RE F 0.NER NCH(\GENT 9 DATE w. Ny-O4 PHONE 4t)ee 73 7-.2/1•/
GRMTNAele aVERS1N SIUWNO et Fr:4-3..I4-.- AWE OF OWNER _
ESN ORrEIN 01 7 l 251 _1-51.45,.ADDRESS fr/e Atli}y e do).LABS,, —•____ ---
0 CHECK HERE NIBW AUENT IP NEW AGENT.sumo a LETTER CAF AUTHORIZATION allEN FILING IRIS FORM
CBOE_PP_010998
Page 5
I:UNY'WEN TIAL ASSESSMENT DATE
-•--- -MAILTO. PERSONAL PROPERTY JANUARY'I
WELD COUNTY RISES&JR DECLARATION SCHEDULE•
-
HOUN.IT AVE ORffiEY,COS0631 ICtnefr nt*Data) DUE DATE APRIL
Phone ODD 3533815 Fnx t9'Ot3Mfi433 2006
E-wl:ororkelledko WRRtcn IS
— Return This Copy ASSESSOR'S USE ONLY
PLEASE READ INSTRUCTIONS ON ARCHERY)
REVERSE SIDE BEFORE PR%'EEDING COMPLETED
SION AND RETURN THIS COPY TATEFIUNO FEE YE
S( NO 11
PIN NUMBER TA CODE BA CODE PARCEL NUMBER
P3021605 0108 25186 105722000010 16749 2
A.N,t4 AM1QADDRIs,9: SHOW CHANGES INN;UIE AND ADDRESS
rag
FRITZLERS CORN MAZE
15630 HWY 256 PREVIOUS OWNER'S NAME le ADDRESS -
LASALLE,CO 80646
PHYSICAL LOCATION OF THE PERSONAL PROPERTY SHOW CHANGES OF PHYSICAL LOCATION'.
AS OFJANUARY 1.AS6'ESSMENT DATE:
15630 256 HWY '
17159-A PT NEA 22 466 SINUS:15630
A BUSINESS:Slat Up Date. Square Footage That The Bunks,Occupies. Pnrkte m Service Provided
C. DIMNESS STATUS Menge check the al}:ponte lwtok ONLYI
0 NEYRISINESS/ORGANTZATION You mutt sloes complete feeuized filling of all personal pope T.�tse the lust put of Section D and attach sheds s)ifneeded
In accordance with i39-3-I IT).5.CRS..you are not revved to 6k this decWstaid the total actual value(market value)of you:pertoal p.v tW per Min•tie S_S41.r
Tess.Dpnt ere a fast lathe file it NAutarre as to sixths)the cent achnl value of veer per-Raul p.t}T per scout exceeds$2.500.please P5aacl the dram serener.
T .assnaer SPA eelectye.r business formate regardless el whet.-roe foe a decleraelen schedule.
❑EXISTING BIISSINESN/ORGANIZATION Ltdcae an ADDITIONS 0N:wD6LETloss to your WrvF m Section D.
❑NEW ONNER OFPREVIOUSLI EXISTING Ill'SINESSIORGANUATION. Von ant give a wrupkte itemized liking of all pus aL pryntvauplvet in
business paclmse Echols additions made Vila to Jan.I since that incluse
O AS OE JANUARY I.WERE YOU OUT OF BUSINESS?hoes chock following.UPere rnl Pedyetn Sold UPeisned PscYvaly St ref Date SodeiShoSL
It Sold Name.andco,t Y httrmntat of New Owner of to Perham Ftopety PHONE
if Snkl Sella*Price of Fanalmigs..Assets,and Equipment ent I NOTE..B sold to more than out New Please mach a lstng of New(Munn •
❑PROPERTY CHANGED LOCATION TO ON DATE:
D. ITEMIZED LISTINGOF PERSONAE.PROPERTY: ••FOR THE MOST ACCURATE ASSESSMENT.IT IS RECOMMENDED TEAT YOU ATTACH
:A COMPLETE ITEMIZED ASSET LISTTNGANTER EACH BUSINESS PERSONAL PROPERTY DECLARATION FILING.•• Net..'whisk ALL Expensed
Assets With a Life N°realer Than I Yeas.Et&DevevcraisdAssets Slit in Ike.and Stored Assets Diet Are Subject to IRS Depreciation LIST ALL PEC0NALPR0PRRTV
ACOrtEZD!oat',JANUARY I.ATTACNSTARIT[etaTTISIINNRIUM, i
ITEhI YEAR COMPLETE DESCRB'TONINCLUDLNO YOUR ORIGINAL FACTOR SPECIFY REIT.. ItONtsc
I D ACQUIRED MODEL OR CAPACITY INSTALLED COST LiFB NEW
OR 3FAIFIAST
u i „
NO USED
000015. 2002 PROPS&COSTUME$ - 9,86300 / 1110
010019 2002 FARM HOUSE - 967.00' 1/10
'000020 - :2002. WOOD BARN. - - - 3.734.00'! 1/10 -
000021 2002 FLAGPOLE 2,950.00 1/10
000022 . 2002 .AIR COMPRESSOR 600.00�.. 1/10 .
000023 2002 CONCESSION SHED 3,119.00' 1/10
000024 2002 - CANNON TARGETS 501.00! 1/10 :
000025 2002 REFRIGERATORS 250.00/ 1/10
000026 - 2002 CORN CANONS 554.00! 1/10,
000027 2001 TICKET SHED 1,335.0Iv 1/10
000028 2001 SOUND SYSTEM 800.00/ . 1/6 -
•
000029 2001 TORTURED BODY 2,980.00" 1/10
000030 2001 MAIZE BRIDGE 624.00e" 1/10
000031 2000 HAY RIDE TRAILER 3,100,00' 1/10
IF NO ADDITIONS OR DELETIONS CHECK HERE(_1 THIS RETURN IS SUBJECT TO AUDIT
I. -r..o.. , em,, ts,aa.,ssa cat ne.va,��m�..r.,.t,a.ear.,NAr Lad se.,a.
M:,r.a .- .. *ub M SIMref—atetanred—.,.a.,a...,-�.1...
SR3NATURE iF OWNER OR AGENT DATE PHONE' I
FLINT NAME OF PERSON 51ONM0 NAME OF l'A NE1
.ESN OR FEIN - ERIAIL ADDRESS
❑CHECK HERE WHEW AGENT THEY AGENT.SUBMIT A LEI MGR OF AUTHORIZATION WNENFWI:G THIS FORM
CBOE_PP_010998
Page 6
Alai tae CONFIDENTIAL ASSESSMENT DATE
Weld County Amstar BUSINESS PERSONAL PROPERTI' JANUARY 1
1400N170 Ave oraeki,coPOW DECLARATION SCHEDULE
Maim(975)353-3643 Fats(970)J04-0433 Page 2
e+eail aYR
2006 ASSESSORS USE ONLY
PLEASE READ INSTRUCT)ON ON RECEIVED
REVERSE SIDI:WWE MOCFEDINO COMPLETED
SION AND RETURN MIS COPY
LATE FILING FEE YES()NO I)
NAME RCP, Inc.
MAILING 15630 State Hwy 256 La Salle CO 80645
ADDRESS
STREET CITY 3TiL4E ZIP CODE
PIN NUMBER TA CODE BA CODE • PARCEL NUMBER
P3021605 0108 25186 105722000010
E.MOBILE EQUIPMENT Q Chedt here and complete this section if there is any mobile equipment in this location.
Item ID Ocacri I Model a Cepecity Licensed/Z. Year Check Now or or Used Yo Installed Year In Use
Narks �°" Tabbed? Aequitbd {breach here Coal
❑ I Milne O Used
D OMen O Used
0 ! Dlew O Used
D f crew 0 Med
F.CE NERAL LEDC ER 00 NOT USE FISCAL YEARRALMICU.re NOT UST 110111E EQUIPMENT twirls MIN UCC.lE PLATES.RENTAU OEGLSOR 0-TABS.
Oleltmal,.wa.d met.nayl
FURNITURE MACHINERY! CAPITA)17F,D ELECTRONIC COMPUTERS SIGNS ALL
EQUIPMENT MOBILE EQUIP OFFICE EQUIP OTHER
• Balance January I.
200 223829
Babinec)every I. 270441
2006 •
G. FULLY DEPRECIATED ASSESTS/EXPENSED PERSONAL PROPERTY: List all mama property assets that have been fully depreciated or
expensed,but are still in use.Attach a separate sheet Including the appropriate Federal Forms denoting all fully depreciated assets and expensed items. If you
have Done,write"None."
Year I Year Cost
Description
Acquired cost Description Acquired
•
H.LEASED,LOANED.OK RENTED PROPERTY(FURNITURE.SIGNS.ETC.)DECLARE PROPERTY OWNED BY OTHERS HERE.
0 Clock ken dye.entwined*ay I.A d.Nasal.or ranted wacbisary.equipment.f.relrore.sign.weeding ssemIltt Mowrya ,,tr.en y Jar
Lid below,Mowing owner.name,address,and telephone number,propeny dewcriplioio etc.ff any of Me laoat equipment fisted is wpilaNaed on your books and records,phue ch ck the Ana
at 114 beginning or'd,e line corresponding with the maw o7 the Lessor,
Owssdter4'a Name.Aches N..Of Cau or I..c,ird I Tent w Areal
Tole MN Dm;�im il.st.dxa MrdoYarid Na l Uwe Leon , Cep ,a.c ..gv f I From-Te1 Ara
—R.I.Permed Prelerry
CAMS usso
Ilism use
D.*D' e
H.2.Moline Coalmen*
I ;MOW
I IL....: DI...Otat. I
❑C1.,ek h.-rc i rrottheav or maintenance options IN indoded In'be lots)annual S rent ahowo above and furnish details.
L DECLARATION TDIE RETLR.N IS SURIECTTO AUDIT
W,,On"mall,I F•t•n I.r..a.n a.m.*.Ws.S*. moo.., lakm bees r,..r.I.Ind'wed w IMa".,..r valet.,.I.n....,.-.....ew(,n.M1"..n....
evielald Oh, s.,.w.ty,.in wives w.r,.yr..r+.a..r...re..,.tl...a.I.n.,r gin.u......ew romoo,win OF uu>r. .0goa rw".rr.e.ma...aa...
tan assows r Ism rune 4.moor u.®e. ....mil, 0,0,ra.L. .m 13
S IGN AT U alt or OWNER OR AGENT "9, ', E"AlL ¢/eit f_PII• aQLCC..i(R
•
NAME OF OWNER 67e H sa
FL:12 es DATE di1 7-0 S`SN et-FEIN Jr—O770,57
PRINT NAME OF PERSON SIGNING PHONE NUMBER) 73,-.)/41-
C CHECK HERE IF NEW AGENT !F NEW AGENT,SUBMIT A LETTER OF AU-MORI-ATUM:WEFT:71.54G THIS FORM.
PLEASE COMPLETE.SIGN AND RITE RN TO THE ASSESSOR ON OR BEFORE APRIL 15,1006
KEEP ONE COPY FOR t OLR RECORDS
CBOE_PP_010998
Page 7
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CBOE PP 010998
Page 9
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CROP PP 010990
Page 10
Parcel= 1057220101110
Account 4 P3021605
To appeal by mail,list your name,address,and phone=below,detach the lower portion of this notice and
mail in accordance with instructions on the reverse side to:
Weld County Assessor
1400 N. 17th Avenue,Greeley,CO 80631
An assessment percentage will be applied to the actual value of your property before taxes are calculated.
The assessment percentage for personal property is 29%.§39-1-104(1),C.R.S.
Your personal property was valued as it existed on January I of the current year. The current year actual
value"represents the actual value of your property as of the appraisal date. The appraisal date is June 30.2004. 4
39-1-104(113)(0.C.R.S. The tax notice you receive next January will be based on this value.
DOCUMENTATION-REASON FOR REQUESTING A REVIEW: ,1
-e— ecicihly Nn tm.a I h O�OrJ 4w.% III
JUN 3 0 2006
Verification: I the undersigned stare the information and facts coftkilad(fieltlincYbAggesstifibest of my
knowledge regarding I the property. J�, Greeley, Colorado
S ignature:�kf� 7T ,/ �r ✓"'p/e6 Owner.Agent Date: 61,25-OL
Address: /,56�/ty,. e4 s[I� 1 Daytime Phone r:l�/�) �
Mp-ivn I,,'NV u
•
•
CBOE_PP 010998
Page 11
NOTICE OF DENIAL OFFICE OF COUNTY ASSESSOR
1400 NORTH IM AVE.
17159-A PT NE4. 22. 4 66 SITUS: 15630 GREE.EY,CO 10631
fe t;
256 HWY PHONE(910)353-3845,EXT.3650
www.co.wslew.m
OWNER: KGF INC
COLORADO
KGF INC LOG 800
DBA/ FRITZLERS CORN MAZE - PARCEL 105722000010
15630 HWY 256 ACCOUNT P3021605
LASALLE, CO 30645 YEAR 2006
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):
Ifyear concern is the amulet of your property tax,local taxing authorities(county,city,fire protection,and other special districts)hold budget
Yearley In the fall. Phase refer to your tar bill or ask your Assessor for a listing of these districts,and yen to atteed these budget hearings.
The Assessor hes 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 briein made .to the: valuation of this n or":__y, ` %iorac'o law
re;ru3 e r to. send ^.is notice of denial for all'T._c.r_r.�-caes en wh,ch we, do not
adist he
PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE •
OF VALUE ACTUAL VALUE ACTUAL VALUE
PRIOR TO REVIEW AFTER REVIEW
PERSONAL PROP 217286 217286
•
APPEAL DEADLINES: REAL PROPERTY—JULY 15,PERSONAL PROPERTY—JULY 20.
If you disagree with the Assessor'a decision,you have the right to appeal to the County Board of Equall:idea for further consideration. §39-11-
104(1)(4),C.R.S. Please see the back of this form for detailed information es tiling your appeal.
07/10;2006
By: Stanley F.Sessions
WELD COUNTY ASSESSOR DATE
ADDITIONAL INFORMATION ON REVERSE SIDE
.cam-nor
CBOE_PP 010998
Page 12
YOU HAVE THE RIGHT TO APPEAL THE ASSESSOR'S DECISION
The County Board of Equalization will sit to hear appeals beginning July 1 and continuing through August 5 for real
property(land and buildings)and personal property(furnishings,machinery,and equipment). §39-8-104 and§39-
8-107(2),C.R.S.
Ii
If 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}% ' tWappealA�appeal must be POSTMARKED OR DELIVERED
ON OR BEFORE JULY 17 FOR RE PROPERTY, 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
You wilfbe noTs ed.o SPfie time and place set for the hearing of your appeal.
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 5.
you are not sahshed 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):
Contact the BAA at 1313 Sherman,Room 315,Denver,Colorado 80203,(303)866-5880.
www.dola.colorado.uov/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,you must file an appeal with the Board
of Assessment Appeals by September 11.
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 OP VALUE.IN TERMS OF A SPECIFIC DOLLAR AMOUNT. Attach additional documents as
necessary—.__.------....
7 "s -o&
nA,
.a70,,,,,
C8OE_PP 010998
Page 13
4.1
CHAPTER 4
PERSONAL PROPERTY TABLES
The personal property tables chapter contains the replacement cost factors, economic life
estimates, and percent good tables that are provided to assist county assessors in valuing
personal property by the cost approach. The level of value adjustment factors are provided
pursuant to § 39-1-104(12.3), C.R.S, and must be used to factor assessment date actual
values of personal property to the level of value(as of the appraisal date)in effect for real
property.
The tables and factors published here are subject to verification in the marketplace. All cost
approach value estimates are based upon the factors and tables found in this section. Cost
approach value estimates must be reconciled to the market and income approaches to value
based upon the appraiser's opinion as to the reliability of the information used to derive the
value estimates from each approach. Reconciliation of the applicable approaches to value is
required for the valuation of all personal property in Colorado.
Actual Value Determined When
(13)(a)...the cost approach shall establish the maximum value of property if
all costs incurred in the acquisition and installation of such property are fully
and completely disclosed by the property owner to the assessing officer.
(c)...However,nothing in this subsection(13)shall preclude the assessing
officers from considering the market approach or income approach to the
appraisal of personal property when such considerations would result in a
lower value of the property and when such valuation is based on independent
information obtained by the assessing officers.
J WI-103(13),GR.S. i
Counties that develop in-house trending or depreciation tables must submit them annually for
approval to the Statutory Advisory Committee to the Property Tax Administrator prior to
use.
As the property under appraisal ages, the cost approach becomes less indicative of the
property value. After fifteen years of age, the recommended valuation procedure is to
measure the value of depreciated equipment directly in the marketplace,if possible.
15-AS-DVr
ARL V0L 5
2-89 Rev 1-06
CBOE_PP 010998
Page 14
4.2
COST FACTOR TABLES
The replacement cost factor tables are provided to assist the assessor in the determination of
replacement cost new estimates by multiplying original or historical cost of personal property
by the cost price indexes published and made available through the courtesy of the Marshall
Swift Publication Company. When the original cost is multiplied by the factor for the year of
acquisition,the product will approximate the current cost to replace,or the Replacement Cost
New(RCN),of the personal property being appraised with property having similar utility.
The assessor must select the appropriate industry category number that corresponds to the
type of equipment being appraised. Thirteen industry category numbers arc supplied. In
many instances,the individual industry category covers mom than one type of commercial or
industrial property. Specific types of commercial and industrial property are found in each
industry category.
If the property to be factored can be specifically identified,the appropriate specific industry
category (such as 3 for office equipment) should be applied. If the property cannot
specifically be identified, the industry category for the business type may be used. If
property is generally useful in many types of business activities,the predominant use shall
determine the industry category.
If particular property types are not included in the table,a comparable property type industry
category number may be selected. The"average of all"(industry category number I)should
be selected if the specific property type is not included in any of the industry categories.
After selecting the appropriate industry category number,the assessor uses the specific cost
factor that corresponds to the year of acquisition of the equipment. The original cost of the
equipment is then multiplied by the cost factor to arrive at the estimated replacement cost
new(RCN)as of the assessment date.
Example:
rr
rwaal ladustry Acquisition Cost
operty Number Year Cost Factor RCN
Desk 3 2000 $1,500 1.12 S1,680'
In other words,it would cost 51,680 on the current assessment date to replace an office desk
purchased in 2000 for$1,500.
15-AS-Dr
ARL VOL 5
2-89 Rev 1-06
CBOE_PP 010998
Page 15
4.3
INDUSTRY CATEGORY NUMBERS
Types of Personal Piupnty Included in Industry Categories
Industry Category Table
Industry Category Number Property Type
Average of All
Candy and Confectionery,Creamery and
2 Dairy,Flour,Cereal and Feed,Garage,Meat
Packing,Paint,Refrigeration and Rubber
3 Office Equipment,(excluding copiers),
and Office Furniture
4 Retail and Wholesale Stores,Warehousing
5 Rental Furnishings,Apartments,
Hotels and Motels
Banks,Savings and Loans,Restaurants
6 and Lounges,and Theaters
7 Contractors'Equipment
8 Laundry&Cleaning Equipment
9 Bakery,Bottling,Canneries,and
Fruit Packing
Brewing and Distilling,Cement,
10 Clay Products,Glass,Metal,Logging,
Metal Working,Mining and Milling
Chemical,Electrical Equipment,
11 Manufacturing,Paper,Motion Pictures and
Television,Printing,and Woodworking
12 All Petroleum,and Textile
Computer and PC Equipment,
13' Computer-integrated Equipment,
Telephone and Telecommunication
Equipment,and Copiers
Source:Marshall&Swift,October 2005
'Please refer to Chapter 7,Speeial Issues,under Classification and Valuation of Personal
Computers(PCs)and Other Equipment,for more information.
15-A5-DPT
NIL VOL 5
2.89 Rev 1-06
CBOE_PP 010998
Page 16
4.4
2006 REPLACEMENT COST NEW FACTORS
2006 PERSONAL PROPERTY
COST FACTOR TABLE
Iudaetry Catejorytmber
i Year Acquired 1 2 3 4 5 6
I 1980 1.96 1.93 1.81 1.95 1.92 1.86
1981 1.78 1.74 1.66 1.78 1.75 1.71
I 1982 1.70 1.66 1.60 1.71 1.69 1.65
1983 1.67 1.63 1.56 1.67 1.66 1.61
1984 1.62 1.59 132 1.62 1.61 1.56
1985 1.60 1.56 1.50 1.60 1.58 1.54
1986 1.59 1.55 1.48 1.58 1.57 1.52
1987 1.56 1.53 1.46 135 1.54 1.50
1988 1.50 1.47 1.40 1.49 1.48 1,44
1989 1.42 1.40 1.33 1.41 1.40 1.37
1990 1.39 1.36 1.30 1.38 1.36 1.34
1991 1.36 1.33 1.28 1.35 1.34 1.32_
1992 1.34 1.32 1.27 133 1.31 1.30
1993 1.32 1.29 1.25 130 1.28 1.27
1994 1.28 1.26 1.22 1.25 1.24 1.23
1995 1.24 1.22 1.19 1.22 1.20 1.20
1996 1.22 1.20 1.17 1.20 1.18 1.19
1997 1.20 1.18 1.15 1.18 1.16 1.17
1998 1.19 1.17 1.15 1.17 1.15 1.16
1999 1.18 1.17 1.14- 1.17 1.15 1.16
2000 1.16 1.15 1.12 1.15 1.13 1.14
2001 1.15 1.14 1.12 1.14 1.12 1.13
1 2002 1.15 1.13 1.11 1.13 1.11 1.12
2003 1.13 1.12 1.10 1.12 1.09 1.11
2004 1.09 1.08 1.07 1.08 1.07 1.07
2005 1.00 1.00 1.00 1.00 1.00 1.00
Source:Marshall&Swift,October 2005
15-AS-DPI
ARL VOL 5
2-89 Rav 1-06
CBOE_PP 010998
Page 17
4.5
2006 REPLACEMENT COST NEW FACTORS CONTINUED
200f PERSONAL PROPERTY
COST FACTOR TABLE
Industry Category Number
Year Aegaired 7 8 9 ]0 II 12 13
1980 1.98 1.96 1.96 1.96 1.87 1.98 1.00
1981 1.78 1.78 1.78 1.77 1.70 1.77 1.00
1982 1.68 1.70 1.70 1.68 1.65 1.66 1.00
1983 1.65 1.67 1.68 1.65 1.62 1.64 1.00
1984 1.61 1.62 1.64 1.61 1.58 1.61 1.00
1985 1.59 1.60 1.62 1.59 1.56 1.60 1.00
1986 1.58 1.59 1.61 1.58 1.55 1.60 1.00
1987 1.56 1.56 1.58 1.56 1.53 1.59 1.00
1988 1.51 1.50 1.51 1.51 1.45 1.53 1.00
1989 1.44 1.42 1.43 1.44 1.37 1.45 1.00
1990 1.40 1.39 1.39 1.40 1.34 1.42 1.00
1991 1.36 1.36 1.37 1.37 1.33 1.38 1.00
1992 1.34 1.34 1.35 1.36 1.33 1.37 1.00
1993 1.30 1.32 1.33 1.34 1.31 1.36 1.00
1994 1.27 1.28 1.30 1.31 1.28 1.33 1.00
1995 1.24 1.24 1.25 1.27 1.22 1.28 1.00
1996 1.22 1.22 1.23 1.24 1.21 1.26 1.00
1997 1.19 1.20 1.21 1.23 1.20 1.24 1.00
1998 1.18 1.19 1.20 1.21 1.19 1.22 1.00
1999 1.17 1.19 1.20 1.21 1.20 1.21 1.00
2000 1.15 1.17 1.18 1.19 1.18 1.20 1.00
2001 1.14 1.16 1.17 1.18 1.17 1.18 1.00
2002 1.13 1.15 1.16 1.17 1.17 1.17 1.00
2003 1.12 1.13 1.14 1.15 1.15 1.15 1.00
2004 1.09 1.09 1.10 1.10 1.10 1.11 1.00
2005 1.00 1.00 1.00 1.00 1.00 1.00 1.00
Source:Marshall&Swift,October 2005
15-AS-OPT
ML VOL 5
2-89 Rev 1-06
CBOE_PP 010998
Page 18
4.6
2006 COST INDEX- FIXTURES/LEASEHOLD IMPROVEMENTS
June 38,2004 Level of Valise
This cost index is provided to assist the assessor in relating original or historical costs of
fixtures or leasehold improvements to the real property level of value. The property may be
valued using real property appraisal records for computations and should be assessed to the
owner of record.
When using this method of valuation,the property must be classified and abstracted as real
property improvements. The factors are useful only in the cost approach when attempting to
factor historical costs to the correct level of value. All cost approach value estimates must be
reconciled to the sales comparison (market)and income approaches to value as with other
real property improvements. The factors found in this table are for estimating replacement
costs only and do not include an allowance for depreciation.
2006 FIXTURES/LEASEHOLD IMPROVEMENTS
COST FACTOR TABLE
Year Acquired Factor
1980 1.99
1981 1.87
1982 1.81
1983 1.75
1984 1.67
1985 1.64
1986 1.63
1987 • 1.62
1988 1.58
1989 1.55
1990 1.51
1991 1.50
1992 1.47
1993 1.40
1994 1.35
1995 1.31
1996 1.30
1997 1.26
1998 1.24
1999 1.21
2000 1.14
2001 1.13
2002 1.11
2003 1.08
2004 1.00
2005 0.94
® ource:Marshall&Swift October 2005
15-AS-DR
ARt VOL 5
2-89 Rev 1-06
CBOE_PP 010998
Page 19
4.7
AVERAGE ECONOMIC LIFE ESTIMATES
The average economic life estimates are provided for assistance in applying the percent good
depreciation tables for each type of property being valued. The economic life
recommendations are based upon the Class Life Asset Depreciation Range published by the
Internal Revenue Service,Marshall and Swift Co.,and other sources. Further information
about the estimates may be found in I.R.S.publication 946,"How To Depreciate Property",
available from the I.R.S.
The economic life estimates are based on average national service lives and assume normal
use and maintenance of the property. Use of the appropriate economic life estimate accounts
for typical physical depreciation and functionalhechnological obsolescence for the personal
property within the valuation process. Use of economic lives that differ from those in the
estimates must be documented with specific market information. Counties and taxpayers are
encouraged to provide this documentation for review by the Division of Property Taxation
for possible update of existing published lives.
For specific types of equipment, economic life estimates were developed based on studies
completed by the Division of Property Taxation.
15-AS-OPT
ARL VOL 5
2-a9 Rev 1-06
CBOE_PP 010990
Page 20
4.a
PROPERTY TYPE Recommended
Eeor on a Life
(years)
COMMERCIAL
Whoksak Trade Level
Wholesale trade machinery equipment,and furnishings 9
Retail Trade Level
Retail trade machinery equipment,and furnishings 9
Rents Trade Level
Adding machines,calculators 6
All terrain vehicles(ATVs)For addt9 into.,see chapter 7 6
Amusement _ 12
Automate id t ler machinessat Chapin 7 _
Computer/electronic components/portion 4a
Structural housing 10
Auto repair shops 10
Bank vault doors 20
Barber and beauty shops 10
Cable television:
Digital TV set-top boxes 4•
Subscriber converters,other than digital 5
Test equipment 8
Origination equipment 9
Satellite receiving ground stations 9
Distribution&subscriber connection equipment 10
Hcadend equipment _ 11
Microwave systems 9
Computers—personal&accessories 3•
Computers—other&stand-alone peripherals 44
Computer—integrated machinery&equipment 4
Construction eeqquu psnent,general 6
Copiers and duplicators 6"
Data handling equipment,except computers 6
Electronic equipment,except computers 6
Gaming:ace Chapter 7
Electronic(e.g.slot machines) 5
Larger gaming personal property(e.g.tables) 10
Gas station equipment:
Electronic fuel pumps 6
General 10
Tanks(e.g.above ground,propane,septic) 10
Tanks(e.g.below ground,double-walled,fuel) 20
Hydroelectric Generators 20
Golf carts 6
Laundry and dry cleaning 10
Commercial Continued an next page
*Use appropriate computer percent good table 2006.
"Use the copier percent good table 2006.
Source..Division of Property Taxation,Marshall&Swift,&
15-AS-OPT
MI.VOL5
2-89 Rev 1-06
CBOE_PP 010998
Page 21
1.9
PROPERTY TYPE Reece ended
Ecwoak Ilk
(years)
COMMERCIAL(continued)
Service trade keel(n.SMned)
Medical equipment:For ddt'l info.see Chapter 7 3 to 10
Meter and stamp equipment 6
Office furniture 10
Pedicabs 10
Photo processing equipment(Electronic) 6
Port-a-potty 10
Radio and television broadcasting __ 6
Recreation and amusement - 10
Restaurant and bar(all) 10
River Rafts 10
Shopping carts 5
Signs(Billboard) 20
Signs(other)by typical business life
Snow cats:For ddt'I info.see Chapter 7
Heavy use(e.g.snowgrooming operations) 6
Moderate use(e.g.transportation operations) 10
Stow tanks:
Tanks(e.g.above wound,propane,Serie) 10
Tanks(e.g.below ground,double-war fuel) 20
___ Telecommunication machinery and equipment 4
Theater 10
Telecommunication towers 20
Typewriters 6
Vending machines 10
Video machines(arcade)
' 6
RESIDENTIAUCO1iMfERGiAL
Residential rental furnishings 10
Apartment,hotel and motel furnishings 10
NATURAL RESOURCES
Mining--Meaelk end Nonmetal&
Mining,quarrying,&milling equipment 10
Petroleum and Neutral Gas
Exploration,drilling 6
Production(Excluding pipelines) 14
Marketing,retail 9
Refining 16
Timber
Logging 6
Sawmills,permanent 10
Sawmills,portable 6
Source:Division of Property Taxation,Marshall&Swift,&IRS
15-AS-DPI.
ARL VOL 5
2-19 Rev 1-06
CBOE_PP 010998
Page 22
4.10
PROPERTY TYPE Recuneaded
Economic Ilk
(years)
INDUSTRIAL
Manufacturing Trade Level
Aerospace 10
Apparel and fabricated textiles 9
Bakeries and Confectionery 12
Brewery 12
Canneries and frozen food 12
Cement manufacture 20
Cereal,flow,grain and mill oducts 17_
Chemicals and related ucts 10
Clay and gypsum 15
Concrete manufacture 15
Dairy products manufacturing 12
Electrical equipment manufacturing 10
Electronic equipment manufacturing 6
Fabncated metal products 12
Special tools 3
Food and beverage production 12
Special handling devices 4
Forklifts 10
Glass and glass product 14
Special tools 3
Jewelry 12
Lumber,wood products and furniture _ 10
Machinery (not otherwise listed in this section) 10
Meat packing 12
Motion picture and television production 12
Paint and varnish 10
Plastics and plastic products 1 I
Special tools 3
Printing and publishing - 11
Professional and scientific instruments 10
Paperboard 10
Rubber products ts�lp 14
Special tools 4
Semi-conductor manufacturing:
General 5
Research and development 3
Test equipment 5
Wafer fabrication 3
Soft drink bottling 12
Steal and related products 15
Stone products 15
Sugar and sugar products 18
Source:Division of Propeny Taxation,Marshall&Swift,&IR.S.
15-AS-OPT
ARL VOl 5
2-99 Rav 1-06
CBOE_PP 010998
Page 23
4.11
PERCENT GOOD TABLE,
The personal property percent good table is provided to assist the assessor in estimating the
replacement cost new less norm'depreciation(RCNLD). The column headings represent
the average service life expectancy of the personal property being appraised. Each column
contains the percent good factor for a specified age in the life of the property.
Percent good tables measure the value remaining in personal property. Depreciation tables
measure the loss in value at a specified age. The factor shown in the columns of the percent
good table represents the percentage of RCN remaining at a specified age. The general
percent good tables are built upon the following assumptions:
I. Iowa State University property retirement&depreciation studies
2. A specified rate of return
3. Avenge condition and usage of typical property
The general percent good table is generic in nature. It was designed to be generally useful
for the majority of personal property. It is not specific to any particular industry or type of
personal property.
The table was designed to account for normal physical depreciation. Use of the table with
the appropriate economic life estimate accounts for typical physical depreciation and
functional/technological obsolescence for the personal property within the valuation process.
Additional functional/technological and/or economic obsolescence may also exist. If
documented to exist,additional functional and economic obsolescence must be measured in
the marketplace either using the market approach or rent loss methods. In addition, any
adjustments to the percent good due to the condition of the subject property must be
defensible and documented.
The minimum percent good shown for each of the columns is useful as a guide to residual
value. It is not absolute and must be reconciled with market information for similar types of
property in order to be valid. If the market shows that the actual value of personal property
is lower than the value arrived at by using the minimum percent good, the use of the
minimum percent good should be rejected in favor of the lower value. The actual value of
the personal property must be determined as long as the property is still in use.
If the cost-calculated value is lower than the market and/or income approach, when the
personal property reaches its minimum percent good,the assessor should review the original
cost, all assigned factors, the physical condition of the property, and other pertinent
contributors to value. If these are correct,the assessor must use the cost approach value as
the actual value of the property pursuant to§39-1-103(13)(a),C.R.S.
As the personal property under appraisal ages,the cost approach becomes less indicative of
the property value. After fifteen years of age.the recommended valuation procedure is to
measure the value of depreciated eouimment directly in the marketplace.if possible.
To use the table,the assessor must determine the economic life and the effective age of the
subject property. The percent good may be determined by movin§across the columns until
the one specified for the economic life is reached and then down this column to the point that
reflects the effective age of the property.
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4.12
Example:
Pendell Ecnonk Fattest
ProPer7 Life Age RCN Good RCNLD
Desk 10 years 6 years $1,680 54% $907
The assessor must also consider'Unctions' and economic obsolescence,abnonnal physical
condition,or other factors that might affect the value of the equipment. The assessor should
also consider the frequency and extent of maintenance to the property. Extensive
maintenance or reconditioning of the property may extend the economic ife of the property
just as a lack of maintenance may shorten the economic life.
DEPRECIATED VALUE FLOOR
In the year in which the personal property has reached its minimum percent good, the
applicable Replacement Cost New(RCN)trending factor in use at that time is"frozen"and
the Level of Value(LOV)adjustment factor is"frozen"at 1.0. For the assessment years that
follow,the RCNLD value does not change until the personal ptopu ry is permanently taken
out of service. An exception to this rule applies when the property has been reconditioned to
extend its remaining economic life.
Even though the personal property has been permanently taken out of service, but has not
been scrapped or sold, it still has value. However, additional functional and/or economic
obsolescence may exist.
It is possible that the market or income approach may indicate a lower value than the
personal property's minimum percent good. In addition,as property ages,the use of original
installed cost multiplied by trending factors may not yield reasonable RCN values. Any
RCNLD estimate should be crosschecked with salts comparison (market) and income
information sources,if possible,and the appropriate value used.
VALUATION OF USED PERSONAL PROPERTY
The valuation of used personal property requires that a decision be made concerning the
remaining economic life of the property. If the personal property's elapsed age from its
actual year of manufacture,or estimated effective year of manufacture,is equal to or greater
than the number of years in which the personal property would have reached its fully
depreciated value floor, then the price paid for the personal property is to be treated as
RCNLD and "frozen" at that value. RCN trending and percent good factors will not be
applied to the frozen value.The LOV adjustment factor is"frozen"at 1.0 and will remain 1D
until the property is taken out of service,sold,or retired.
An exception to this rule applies when the personal property is reconditioned to extend its
remaining economic life. Then the reconditioned property is treated as new personal
property and the formerly frozen value is treated as acquisition cost that is subject to
depreciation over a complete economic life of the personal property.
Even though personal property has been permanently taken out of service,but has not been
scrapped or sold, it still has value. However, additional functional and/or economic
obsolescence may exist.
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Page 25
4.13
If the elapsed age from the year of manufacture,or estimated effective year of manufacture,
is less than the number of years when the personal p would have reached its
depreciated value floor,as evidenced in its recommended economic life from the preceding
tables,then the property is treated as new personal property and the owner's acquisition cost
is subject to depreciation over the complete economic life as would be used for new personal
property. However,the resulting value should be compared to the sales comparison(market)
value for the personal property,if possible.
2106 GENERAL PERCENT GOOD TABLE
AVERAGE ECONOMIC LIFE IN YEARS
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 IS 19 20
1 68 77 83 86 89 91 92 93 94 95 96 96 97 97 97 98 9$ 9$
2 39 55 65 72 77 81 84 86 88 89 91 92 93 94 94 95 95 96
3 18 34 47 57 64 70 75 78 81 84 86 87 89 90 91 92 93 94
4 15 19 32 43 52 60 66 70 74 78 80 83 85 86 88 89 90 91
5 15 19 31 40 50 56 62 67 71 75 78 80 82 84 86 87 89
6 15 20 30 39 47 54 60 65 69 73 75 78 80 83 84 86
7 15 21 31 39 46 53 58 63 67 70 74 76 79 81 83
8 15 22 31 38 45 51 56 62 66 69 72 75 78 80
9 IS 23 31 37 44 50 56 60 64 68 71 74 77
V 10 15 24 31 38 44 49 55 60 63 67. 71 73
it Il 15 25 31 38 44 50 55 58 63 67 70
12 21 26 31 38 44 49 53 58 63 66
13 15 23 27 34 38 44 48 53 59 62
14 15 24 28 35 40 44 50 54 58
IS 19 23 29 35 41 46 50 54
16 15 21 24 30 36 41 46 50
17 15 23 25 31 37 42 46
14 18 15 25 27 32 37 42
19 21 23 28 33 38
20 15 19 24 30 34
21 IS 21 26 31
22 15 17 23 28
23 15 20 25
24 15 22
25 20
26 IS
Source:Division of Property Taxation
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2.19 Rev 1-06
CBOE_PP 010998
Page 26
4.14
Using market studies, the following table has been developed for Personal Computers
(PCs)and Accessories:
Parent Good Table 2006
Average Economic Life
Ass Z
EFF 1 44
2 23
A 3 13
G 4 7
E
Source:Division of Property Taxation
Using market studies, the following table has been developed for Other Computer
Equipment'mending Computer Peripherals:
Percent Good Table 2906
Avenge Economic Life
Ate 4
EFF 1 !0
2 36
A 3 22
G 4 13
E 5 7
Source:Division of Property Taxation
For personal property classified as Computer-integrated Machinery and Equipment, a four
(4) year economic life is assigned. The four(4) year life depreciation table found in the
General Percent Good Table in this section should be used.
If you have questions concerning personal computers(PCs)and accessories,other computer
equipment including stand-alone computer peripherals, or computer-integrated machinery
and equipment, please refer to Chapter 7, Special Islam, under Cless4fkmloa and
Valuation of Personal Computers(PCs)and Other Egaipaseal.
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4.15
Using market studies,the following table has been developed for Copiers:
Parent Good Table MK
Average Embolic Life
Ace f
EFF 1 54
2 46
A 3 36
G 4 32
E 3 2f
6 26
7 21
Source:Division of Property Taxation
Copiers have a six(6)year economic life and should be"frozen"in the seventh year at the 20
percent good. In the seventh year the LOV adjustment factor is"frozen" at 1.0 and will
remain 1.0 until the personal property is taken out of service,sold,or retired.
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LEVEL OF VALUE ADJUSTMENT FACTORS
The following table contains the indexes for adjusting current actual value of personal
property to the level of value (LOV) in effect for realproperty as specified by
§39-1-104(12.3)(a)(I),C.R.S. The procedure involves the mukipplication of the assessment
date actual value estimate by the appropriate LOV factor for dw type of property being
valued. When personal property reaches its fully depreciated value floor the actual value
should be determined and frozen. The LOV adjustment factor is"frozen" at 1.0 and will
remain 1.0 until the property is taken out of service,sold,or retired.
Example:
popeIndustry LOY Actual
rty Number Age RCNLD Factor Value
Desk 3 6 years S907 0.94 5053
2006 PERSONAL PROPERTY LOV FACTOR TABLE
Jame 30,2004 Level of Value
Industry Number LOV Factor
1 0.92
2 0.93
3 0.94
4 0.93
5 0.94
8 0.93
7 0.93
8 0.92
9 0.92
10 0.91
11 0.91
12 0.91
13 1.00
Source:Division of Property Taxation and Maslall 8 Swift
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Lei
CLERK TO THE BOARD
' PHONE (970) 356-4000 EXT 4226
FAX: (970) 352-0242.co.us
TT WEBSITE: www.co.weld.co.us
IlD915 10TH STREET
P.O. BOX 758
C• GREELEY, COLORADO 80632
COLORADO
July 21, 2006
KGF INC
DBA/ FRITZLERS CORN MAZE
15630 HWY 256
LASALLE CO 80645
Parcel No.: 105722000010 Account No.: P3021605
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of August 1, 2006, at or about the hour of
10:40 AM,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 August4, 2006,and
mailed to you on or before August 11, 2006.
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.
KGF INC - P3021605
Page 2
Very truly yours,
BOARD OF EQUALIZATION
MIlaft%
Donald D. Warden
Clerk to the Board
cc: Stanley Sessions, Assessor
Ell=7
AUCTIONEERS & REAL ESTATE, INC.
July 31, 2006
Glen Fritzler
Fritzler's Corn Maze
15630 Hwy. 256
LaSalle, CO 80645
RE: Personal Property Appraisal
Dear Glen:
In accordance with your request, I herewith enclose the itemized appraisal of the
property you own as itemized herein. Therefore, it is my opinion that the current
fair market value is as follows:
Total Valuation $64,350.00
Also enclosed please find the definition of Fair Market Value and my
qualifications.
If you should have any questions regarding this valuation, please give me a call.
My office phone is 97O-356-3943.
Sincerely,
KREPS WIEDEMAN AUCTIONEERS& REAL ESTATE, INC.
ecidir/6
VViedeman
Appraiser
enc.
tlw/jlw EXHIBIT
pia Wyk
2221 2nd Avenue- Greeley, CO 80631 • (970)356-3943 • Fax(970)356-83.44
www.k-wauctions.corn
Personal Property Appraisal
FRITZLER CORN MAZE
Arcade Game $ 400.00
Animatronics 2,750.00
Pitch Black 9,000.00
Giant 17,500.00
Ticket Shed 250.00
Pedal Carts 600.00
Fog System 1,000.00
Light Fixtures 400.00
Rockin' Granny 800.00
Hanging Vampire 200.00
Shake & Bake 900.00
Machine Gun Sound 75.00
Tent 1,750.00
Air Compressor 300.00
Bridge 125.00
Lawn Mower 300.00
Signage 1,500.00
Props & Costumes 1,400.00
Farm House 200.00
Wood Barn 800.00
Flag Pole 500.00
Air Compressor 175.00
Concession Shed 800.00
Cannon Targets 150.00
Refrigerators 200.00
Corn Cannons 125.00
Ticket Shed 300.00
Sound System 150.00
Tortured Body 500.00
Maze Bridge 150.00
Hay Ride Trailer 700.00
Portable Power Supply Wiring 1,000.00
2005 Carson Cargo Trailer, 7'x 14' 2,250.00
Black Vortex Tunnel Tent, 10' x 30' 1,200.00
Junk Yard Dog 1,000.00
2 - Cushamn Utility Vehicles @ $600 1,200.00
4 - Reachers @ $100 400.00
2 - Hover Crafts @ $5,000 10,000.00
1980 IHC School Bus for prop only 300.00
Vortex Tunnel 3,000.00
Total Appraised Value I$ 64,350.00
DEFINITION OF VALUE
Market Value as taken from the Dictionary of Real Estate Appraisal,
AIREA, is defined as the most probable price in terms of money which a
property will bring in a competitive aid open market under all conditions requisite
to a fair sale, buyer and seller each acting prudently, knowledgeably, and
assuming the price is not affected by undue stimuli.
Implicit in this definition is the consummation of a sale of a specified date
and the passing of title from seller to buyer under conditions whereby:
{a} buyer and seller are typically motivated.
{b} both parties are well informed, are well advised, and each acting in
what they consider their own best inttanst
{c} a reasonable time is allowed for exposure on the open market.
{d} payment is made in cash a-its equivalent
{e} financing, if any, is on terms generally available in the community at
a specified date and typical of the property type in its locale.
{f} the price represents a normal consideration for the property sold
unaffected by special financing amounts and/or terms, services,
fees, costs or credits accrued in the transaction.
•
QUALIFICATIONS OF THE APPRAISER
Terry L. Wiedeman
13434 Weld County Road 42
Platteville, CO 80651
(970)737-2298
Member.
Greeley Board of Realtors, Inc.
National & State Association of Realtors
American Society of Farm Equipment Appraisers
National & State Association of Auctioneers
Background:
Over 30 years involvement with the agriculture industry which includes:
Licensed Realtor in the State of Colorado since 1976. Co-Owner of Kreps
Wiedeman Auctioneers & Real Estate, Inc. since 1983, specializing in the
marketing of fa ins, ranches and rural acreages, farm equipment auctions and
appraisals of real estate and personal property.
Graduate of Western College of Auctioneering. Actively engaged in the farm
equipment auction business since 1972.
Certified farm equipment appraiser with American Society of Farm Equipment
Appraisers. License#0970.
Has done appraisals for various lenders, individuals, estates, government
agencies, etc.
Hello