HomeMy WebLinkAbout20062051.tiff RESOLUTION
RE: THE BOARD OF EQUALIZATION, 2006, WELD COUNTY, COLORADO - DENY
PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE
PETITION OF:
DIAMOND SHAMROCK STATIONS INC
C/O AD VALOREM TAX DEPT
P O BOX 690110
SAN ANTONIO, TX 78269-0110
DESCRIPTION OF PROPERTY: ACCOUNT#: R4060986 PARCEL#: 096131416003- LAS
11582 L23 THRU 28 BLK2 %100 2 ST% 113 N 2 ST LASALLE 80645
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 not being present or represented, and
WHEREAS,the Board has made its findings on the evidence,testimony and remonstrances
and is now fully informed.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, acting as the Weld County Board of Equalization, that the evidence presented at the
hearing clearly supported the value placed upon the Petitioner's property, after review by the Weld
County Assessor. Such evidence indicated the value was reasonable, equitable, and derived
according to the methodologies, percentages, figures and formulas dictated to the Weld County
Assessor by law. The assessment and valuation of the Weld County Assessor shall be, and
hereby is, affirmed as follows:
ACTUAL VALUE
AS DETERMINED
BY ASSESSOR
Land $ 152,030
Improvements OR
Personal Property 202,400
TOTAL $ 354,430
2006-2051
AS0064
r� : A -Si Ui-, .6�T , 7 a5'-ovoh
RE: BOE - DIAMOND SHAMROCK STATIONS INC
PAGE 2
BE IT FURTHER RESOLVED that a denial of a petition, in whole or in part, by the Board of
Equalization may be appealed by selecting one of the following three options; however,said appeal
must be filed within 30 days of the denial:
1. Board of Assessment Appeals: You have the right to appeal the County
Board of Equalization's(CBOE's)decision to the Board of Assessment Appeals
(BAA). Such hearing is the final hearing at which testimony, exhibits, or any
other evidence may be introduced. If the decision of the BAA is further
appealed to the Court of Appeals, only the record created at the BAA hearing
shall be the basis for the Court's decision. No new evidence can be introduced
at the Court of Appeals. (Section 39-8-108(10), C.R.S.)
Appeals to the BAA must be made on forms furnished by the BAA, and
such appeals should be mailed or delivered within thirty (30) days of
denial by the CBOE to:
Board of Assessment Appeals
1313 Sherman Street, Room 315
Denver, CO 80203
Phone: 303-866-5880
Fees: A taxpayer representing himself is not charged for the first two appeals to the
Board of Assessment Appeals; however, a taxpayer being represented by an agent
or an attorney must submit a fee of$101.25 per appeal.
OR
2. District Court: You have the right to appeal the CBOE's decision to the District
Court of the county wherein your property is located. New testimony, exhibits
or any other evidence may be introduced at the District Court hearing. For filing
requirements, please contact your attorney or the Clerk of the District Court.
Further appeal of the District Court's decision is made to the Court of Appeals
for a review of the record. (Section 39-8-108(1), C.R.S.)
OR
3. Binding Arbitration: You have the right to submit your case to arbitration. If
you choose this option the arbitrator's decision is final and your right to appeal
your current valuation ends. (Section 39-8-108.5, C.R.S.)
Selecting the Arbitrator: In order to pursue arbitration, you must notify the
CBOE of your intent. You and the CBOE select an arbitrator from the official list
of qualified people. If you cannot agree on an arbitrator,the District Court of the
county in which the property is located will make the selection.
2006-2051
AS0064
RE: BOE - DIAMOND SHAMROCK STATIONS INC
PAGE 3
Arbitration Hearing Procedure: Arbitration hearings are held within sixty days
from the date the arbitrator is selected. Both you and the CBOE are entitled to
participate. The hearings are informal. The arbitrator has the authority to issue
subpoenas for witnesses, books, records, documents and other evidence. He
also has the power to administer oaths, and all questions of law and fact shall
be determined by him.
The arbitration hearing may be confidential and closed to the public, upon
mutual agreement. The arbitrator's written decision must be delivered to both
parties personally or by registered mail within ten (10) days of the hearing.
Such decision is final and not subject to review.
Fees and Expenses: The arbitrator's fees and expenses are agreed upon by
you and the CBOE. In the case of residential real property, such fees and
expenses cannot exceed$150.00 per case. The arbitrator's fees and expenses,
not including counsel fees, are to be paid as provided in the decision.
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 1st day of August, A.D., 2006.
BOARD OF COU COMMISSIONERS
ELA, WEL UN OLORADO
ATTEST: 1441/
I I 0`CV M Geile, Chair
Weld County Clerk tot B.: !.;.�� �� ^r
♦r. 'w L I`
���J��i�l ,�• � `` David E. Long, Pro-Tem
BY:
Deputy Clerk t he Board EXCUSED
Will' a
APPROVED AS TO FORM:
Robert D. Masc,n
As ant Co ty Attorney ,(L/ . ,Q(;,tv
Glenn Vag
Date of signature: ��/�!h
2006-2051
AS0064
NOTICE OF DENIAL OFFICE OF COUNTY ASSESSOR
1400 NORTH 17th AVE.
LAS 11132 2 TLAS•L BLK2 %100 2 GREELEY,CO 3650
STS 113 N 2 ST LASALLE 80645 PHONE 353-3845, oideoe0
v,ww.eo vold.co.us
•
•
OWNER: DIAMOND SHAMROCK STATIONS INC
COLORADO •
DIAMOND SHAMROCK STATIONS INC LOG 818
C/O AD VALOREM TAX DEPT PARCEL 096131416003
P 0 BOX 690110 ACCOUNT R4060986
SAN ANTONIO TX 78269-0110 YEAR 2006
Tax Rep : PHILLIPS & AKERS
•
•
The appraised value of property Is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined that
your property should be included in the following category(ies): •
Commercial property is valued by considering the cost, market,
and income approaches .
If your concern is the amount of your property tax,local taxing authorities(county,city,fire protection,and other special districts)hold budget
hearings in the fall. Please refer to your tax bill or ask your Assessor for a listing of these districts,and plan to attend these budget bearings.
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'
We have reviewed your property value and feel it is correct. Law requires that
all of 2003 and the first 6 months of 2004 data be used to establish current
values . We have considered all (3) three approaches to value in arriving at
tour current valuation. We have denied your appeal based upon our research of
his data .
PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE
OF VALUE ACTUAL VALUE ACTUAL VALUE •
• PRIOR TO REVIEW AFTER REVIEW
COMMERCIAL 354430 354430
•
•
•
TOTALS S g 354'430 s 354430
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)(x),C.R.S. Please see the back of this form for detailed information on filing your appeal.
07/12/2006
By: Stanley F. Sessions
WELD COUNTY ASSESSOR DATE
ADDITIONAL EN-FORMATION ON REVERSE SIDE
.•br0747/01
2006-2051
YOU HAVE THE RIGHT TO APPEAL TILE 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
i ll≥
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 :7 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 of the time and place set for the hearing of your appeal.
.K l .fi'dr';tnll2J r.i.v.IE v
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. N ACCORDANCE WITH §
39-8-106(1 5), C.R.S , IF YOUR.APPEAL INVOLVES REAL PROPERTY, YOU MUST STATE YOUR
OPINION OF V ALLE N TERMS OF A SPECIFIC DOLLAR AMOUNT. Attach additional documents as
necessary. In support of the Petition to the County Board of Equalization of the denial by the County Tax Assessor of the Written
letter of Objection and Protest;the Written Letter of Objection and Protest is submitted to the County Tax Assessor and
hereby adopted as the basis for the appeal to the County Board of Equalization. Petitioner requests that the County
Board of Equalization examine this information and render its decision based upon the written information submitted in
support of Petitioners' proposed valuations. Petitioners reserve the right to submit additional documents prior to the
hearing. Petitioner's Estimate of Value is$319,003.
s1LNA I JR�Or- lit.IT.L)\T9,,t ?, A ic (7DIc
Weld County Assessors Office
STAN SESSIONS COUNTY ASSESSOR
CHRIS WOODRUFF DEPUTY ASSESSOR
APPRAISAL REPORT
OF
COMMERCIAL PROPERTY
FOR
County Board of Equalization
DIAMOND SHAMROCK STATIONS INC
PETITIONER
vs.
WELD COUNTY ASSESSOR'S OFFICE
RESPONDENT
Parcel Number: 0961-31-4-16-003
Schedule Number: R4060986
Log Number: 818
Date: 08/01/2006
Time: 10:30 AM
Board: CBOE
PREPARED BY
CHUCK JACK
07/26/2006
Signature Date
ASSESSOR'S OFFICE STAFF APPRAISER
CBOE_COMM_010998
Page 1
SALIENT FACTS AND CONCLUSIONS
Purpose of Appraisal To determine Market Value as of 1/1/06 based on an
appraisal date of 6/30/2004.
Property Rights Appraised Unencumbered fee simple interest.
Location 113 N 2 ST
LASALLE
Land Area 30,400 Square Feet
Zoning
Property Type Commercial
1— Convenience Store
1— Car Wash - Drive thru
Year Built 1988
Year Remodeled 0
Quality Average
Class Masonry
Number of Stories 1
Convenience Store Sq. Ft. 1,656
Car Wash One drive through bay; 785 sq. ft.
Value Indications:
Land $152,030
Cost Approach $410,585
Market Approach $414,000
Income Approach $434,900
Assessor's Value $354,430
CBOE_COMM_010998
Page 2
SUBJECT PROPERTY PHOTOS
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CBOE_COMM_010998
Page 3
SUBJECT PROPERTY PHOTOS
BLDG #2 (Car Wash)
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CBOE_COMM_010998
Page 4
Subject Sketch
44.0'
„p Cony.Store
C 8x2710k Gal Tank
Bldg 12 iiso BIt1988 Ir
22.0' Class C9' I 8x2710k Gal Tank
WH 37.5' ,
Package Air
CAR WASH First Floor 1650.0
Ipw4w Sae 8 x27 10k Gal Tank
di 19118
1000
35.7' Space Heat
ras o sa.a.
Conc.Slab 875.0
Conn Sae
320
79.0'
Canopy
(3) dispenser islands ' o
2334.0 g
Sketch by Apex W indows•a
CBOE_COMM_010998
Page 5
COST APPROACH
LAND VALUE
Sales utilized to establish the value in the subject neighborhood are 2003 and 2004 market for the
2006 assessment date. The comparative sales approach is the most reliable method of land
valuation. Pursuant to 39-104-(10.2) (c) C. R. S., the Assessor may utilize sales from July 1999
through the current market to establish the proper value, if sufficient information is not available in the
prior 18 months. Also, comparables outside the subject property area may be used. The Weld
County Assessor has an established ongoing sales confirmation and validation program for property
transactions used in developing value.
The land size of the subject corner lot is 30,400 square feet. The subject area is valued at $5.00 per
square foot. If no vacant land sales were available in this area, we utilized the abstraction/allocation
method to establish land value.
Parcel Number Sale Date Sale Price Land Size Per Sq Ft
Comparable 1 096131411012 12/30/99 $70,000 17,104 $4.09
Interior Lot -
Lasalle
Comparable 2 105911134016 03/15/04 $49,000 9,375 $5.23
Interior Lot -
Milliken
Comparable 3 105911138012 02/05/02 210,000 26,828 $7.83
Interior Lot-
Milliken
Range of Comps : $4.09 - $7.83
Avg of Comps: $5.71
Median of Comps: $5.23
• The adjacent corner lot to the subject lot(parcel 096131417014) sold outside the base year period on
11/21/2005 for an adjusted sales price of$9.25 psf.
ASSESSOR'S INDICATED SUBJECT LAND VALUE
$152,030
CBOE_COMM_010998
Page 6
Cost Approach
Convenience Store
PARCEL NUMBER 96131416003
PROPERTY OWNER Diamond Shamrock Stations Inc
ADRESS 113 N 2nd Street
CITY, STATE, ZIP Lasalle, Co
DATE OF SURVEY 06/30/04
OCCUPANCY: Convenience Store NUMBER OF STORIES 1
AVERAGE STORY
FLOOR AREA (SQ. FT.) 1,656 HEIGHT 9
CLASS: Masonry YEAR BUILT 1988
COST RANK Good EFFECTIVE AGE 1995
HEATING AND COOLING Package Air ESTIMATED LIFE 40
UNITS COST TOTAL
RCN BASIC STRUCTURE
COST 1,656 $73.83 $122,262
EXTRAS:
Concrete Slab 20,100 2.36 47,436
Canopy 2,334 13.25 30,925
TOTAL RCN $200,623
LESS DEPRECIATION 0.11 $22,068
DEPRECIATED COST $178,555
ADD IN CAR WASH 1 bay drive through 80,000
ADD IN LAND VALUE 152,030
TOTAL VALUE $410,585
PSF Value $247.94
CBOE_COMM_010998
Page 7
MARKET APPROACH SUMMARY
Real Property for the tax year 2006 must be valued utilizing data for the period one and one-half
years immediately prior to July 1, 2004. If comparable valuation data is not available from such one
and one-half year period to adequately determine the level of value for a class of property, the period
of five years immediately prior to July 1, 2004 shall be utilized to determine the level of value.
The Assessor has appropriately considered the Market Approach to value for the property on appeal.
The Sales Comparison Approach was considered in developing a market value for the Subject. Sales
used to establish a market value for the tax year 2006 are from January 1, 2003 through June 30,
2004. Pursuant to 39-1-104 (10.2)(c) C. R. S., the Assessor may utilize sales five years prior to July
1, 2004 to establish the proper value. All sales have been confirmed and verified through transfer
declarations as well as interviews with buyers, sellers or their representatives to the sale. All sales
used are arm's length transactions, and considered to be the most comparable properties sold in
relationship to the Subject property.
Based upon investigation and analysis, it is the opinion of the appraisers that the
value of $270.00 accurately reflects the market value of the subject property.
VALUE As INDICATED BY THE MARKET APPROACH
$414,000
CBOE_COMM_010998
Page 8
COMPARATIVE SALES APPROACH
SALE# Subject 1 2 3
Comments
Parcel # 96131416003 96105214002 96107123011 95901323002
Address 113 N 2 Street, 120 N. 8 Ave 1105 16th Street 2803 W 10th St
Lasalle North Greeley Greeley Greeley
Grantor SDS Enterprises 16 St Total LLC Metro Gas
Grantee Sohini Corp Choi Byong Khang Phat
Sale Date 12/20/2001 8/3/2004 6/29/2004
Sale Price $450,000 $900,000 1,200,000
Deduct PP -78,285 -40,332 -19,600
Location Adj
(traffic count) Similar -63,000 -396,000
Adj. Sales Assessor's Value
Price $354,430 $371,715 $796,668 $784,400
Land Size 30,400 15,545 17,901 17,810
L/B Ratio 12.45 12.95 5.11 6.60
Bldg SF 1,656 1,200 3,503 2,700
Year Blt 1988 1966 1966 1987
Use Convenience Store Convenience Store Convenience Store Convenience Store
Assessor's Value
Price/PSF $214.03 $309,76 $227.42 $290.52
Comps Avg: $275.90
Comps
Median: $290.52
Comps
Range: $227.42 -$309.76
Estimated Value per the Sales Approach: $414,000 OR $250.00 PSF
CBOE_COMM_010998
Page 9
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500'
••. ...alrill-` .•, 145' Camp 1152x9
m 310''Lose O 30nde,'grdknks
asp 34051 Oisp
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1930'
sunp m.rvww„' waxy 45imsag.40
COMPARABLE SALE #1 COUNTY: WELD
ACCOUNT R2787486 PARCEL NUMBER: 096105214002
PRIMARY OCC: Convenience Store PERCENT: 100%
SECONDARY OCC: PERCENT:
ADDRESS: 120 8 AV, GREELEY
RECEPT NUMBER: 2912600 SALE DATE: 12/20/2001
GRANTOR: SDS ENTERPRISES LTD SALE PRICE: $450,000
GRANTEE: SOHINI CORPORATION ADJ SALE PRICE: $371,715
YEAR BUILT: 1966 CLASS: S
EFFECTIVE AGE: LAND/BLDG RATIO: 12.95
LAND SIZE(SF): 15,545 LAND VALUE: $18,654
BLDG SIZE(SF): 1,200 IMPS PRICE/SF: $296.96
WALL HEIGHT: 10 SALE PRICE/SF: $309.76
STORIES: I INTEREST RATE: 7.75%
BSMNT SIZE: DOWN PYMT: $112,500
BSMNT FINISH: LOAN TERM(YRS):
ZONING: GRE IM POINTS PAID:
QUALITY: Average
COMMENTS: Adjusted sales price for pumping equipment&fixtures. C-Store YOC 1966 in North Greeley.New pumps 2-
2 hose dispensers,tanks 3-10,000 gallon under'grd,canopy 24'x 48',paving,and store interior in 1997.
Annual gallonage 637,346,GIM.588
CBOE_COMM_010998
Page 10
iftI 1 y
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r
COMPARABLE SALE #2 COUNTY: WELD
ACCOUNT NUMBER: R3077686 PARCEL NUMBER: 096107123011
PRIMARY OCC: Convenience Store PERCENT: 66%
SECONDARY OCC: Car Wash-Automatic PERCENT: 34%
ADDRESS: 1105 16 ST, GREELEY
RECEPT NUMBER: 3206645 SALE DATE: 8/3/2004
GRANTOR: 16 ST TOTAL LLC SALE PRICE: $900,000
GRANTEE: CHOI BYONG D ADJ SALE PRICE: $859,668
YEAR BUILT: 1961 & 1996 CLASS: C
EFFECTIVE AGE: LAND/BLDG RATIO: 5.11
LAND SIZE(SF): 17,901 LAND VALUE: $71,604
BLDG SIZE(SF): 3,503 IMPS PRICE/SF: $222.11
WALL HEIGHT: 14 SALE PRICE/SF: $245.41
STORIES: 1 INTEREST RATE:
BSMNT SIZE: DOWN PYMT:
BSMNT FINISH: LOAN TERM(YRS):
ZONING: GRE CH POINTS PAID:
QUALITY: Average
COMMENTS:Adjusted sale for F F&E&pumping equipment. The subject C-Store is 2,314 S.F.with a Canopy
1,760 S.F., 1-12,000 gal.tank& 1-6,000 gal.tank,3-2 hose 3 product gas dispensers.Two bay car wash 1,189
S.F.,one automatic drive-thru&one wand bay.
CBOE_COMM_010998
Page 11
;-
61.5'
₹ Qx-.
a CCM'Ba Skis
�'""f q, ( R51 Floc. 27000 sqt
1].8' BUL119,37
15.0 ROOF MO
_ - •. FouRna.16 F3 CANOPY
— PM HQS0 EACH 1190sq n. 141
1V l2 0000u —
FIB TAWS '--
260'
COMPARABLE SALE #3 —M.N4b.,- COUNTY: WELD
ACCOUNT NUMBER: R1753286 PARCEL NUMBER: 095901323002
PRIMARY OCC: Convenience Store PERCENT: 100%
SECONDARY OCC: PERCENT:
ADDRESS: 2803 W 10 ST, GREELEY
RECEPT NUMBER: 3194943 SALE DATE: 6/29/2004
GRANTOR: METRO GAS&CONVENIENCE STORE SALE PRICE: $1,200,000
GRANTEE: KHANG PHAT INC ADJ SALE PRICE: $1,180,400
YEAR BUILT: 1987 CLASS: D
EFFECTIVE AGE: LAND/BLDG RATIO: 6.60
LAND SIZE(SF): 17,810 LAND VALUE: $124,599
BLDG SIZE(SF): 2,700 IMPS PRICEISF: $370.83
WALL HEIGHT: 15 SALE PRICE/SF: $437.19
STORIES: I INTEREST RATE:
BSMNT SIZE: DOWN PYMT:
BSMNT FINISH: LOAN TERM(YRS):
ZONING: GRE CH POINTS PAID:
QUALITY: Good
COMMENTS: ADJUSTED SALE FOR FF&E PER&FOR PUMPING EQUIPMENT(FOUR FUEL DISPENSERS
WITH 2-HOSE EACH,TWO 12,000 GAL UNDERGROUND TANKS.)
CBOE_COMM_0 10998
Page 12
INCOME APPROACH
INCOME WORKSHEET
Parcel : 096131416003
Name: Diamond Shamrock Stations Inc
Address: 113 N 2nd Street, Lasalle
Bldg Sq Ft Use No of Units
Cony.
1 ,656 Store 1
Effective
Tax Rate Mill Rate Assm't Rate Tax Rate
0.061672 0.29 0.017885
Avg Rent PSF
Annual
MOS Annual Rent per Gross
Area Rent PSF Month Income
Main Fir
PSF 1,656 $18.00 $2,484 $29,808
EXISMSeS
mgmt 3% $850
R/R 2% $566
Net income $17.15 $28,392
Net Income/Overall Cap Rate = Property Value
Property Value
Value Per Sq Ft
Cap Rate + Eff Tax Rate 0.080 0.0000 0.080 $354,900 $214.31
Add Car Wash $80,000
Total Value
Estimated Property
Value $434,900 $262.62
CBOE COMM 010998
Page 13
LEASE COMPARABLES
1600 S.LEMAY $22.55 NNN
7-11 FORT COLLINS
1113W DRAKE RD $18.11 NNN
DIAMOND SHAMROCK FORT COLLINS
4695 W 20TH ST $22.78 NNN
CONVENIENCE PLUS GREELEY
COMPS AVG: $21 .15
COMPS MEDIAN: $22.55
CBOE_COMM_010998
Page 14
INCOME APPROACH SUMMARY
The Weld County Assessor has appropriately considered the Income Approach to value for the
Subject property on appeal.
The Assessor has gathered income information from local commercial properties for the time frame of
January 1, 2003 through June 30, 2004. This information, combined with statewide and industry-wide
data, is used to determine typical income and expenses for various property types.
In conclusion of the Income Approach, the Assessor has considered both groups of data and has put
more emphasis on the local factors and data than the state and national data. This information was
then applied to the subject property to arrive at an appropriate Income Approach Value.
TOTAL INCOME VALUE FOR THE SUBJECT PROPERTY
$434,900
CBOE_COMM_010998
Page 15
FINAL RECONCILIATION
After consideration of the cost, market and income approaches, it is the Weld County Assessor's
opinion that the value of$354,430 , most accurately reflects the value of the subject property in Weld
County for the 2006 tax year.
COST APPROACH MARKET INCOME APPROACH
APPROACH
$410,585 $414,000 $434,900
ASSESSOR'S VALUE
Improvements 202,400
Land 152,030
$354,430
Total:
CBOE_COMM_010998
Page 16
APPRAISAL STANDARDS AND ETHICS
CERTIFICATION
I certify to the best of my knowledge and belief that:
The statements of fact contained in this report are true and correct.
The reported analyses, opinions and conclusions are limited only by the reported assumptions and
limiting conditions and is my personal unbiased professional analyses, opinions and conclusions.
I have no present or prospective interest in the property that is the subject of this report, and I have no
personal interest or bias with respect to the parties involved.
My compensation is not contingent on an action or event resulting from the opinion or conclusions in,
or the use of, this report.
My analyses, opinions and conclusions were developed, and this report has been prepared, in
conformity with the Uniform Standards of Professional Appraisal Practice.
No one provided significant professional assistance to the person signing this report.
I have made a personal inspection of the property that is the subject of this report.
Chuck Jack
Commercial Appraiser
Colorado Certified General Appraiser CG01316803
CBOE_COMM_010998
Page 17
-SHAREHOLDERS- PHILLIPS 8z AKERS DOUGLAS M.WALLA
LYNNE JUREK SHANNON
MICHAEL PHILLIPS ATTORNEYS AT LAW KELLY A.DEMPSEY
CROCK C.AKERS A PROFESSIONAL CORPORATION NEAL D.KIEVAL
TERRY M.WOMAC
CHRISTLANA DIJKMAN -ASSOCIATES-
-DIRECTORS- 3200 PHOENIX TOWER MICHELLE OHELVAM
ARMANDO S.OHIU
DAVID a EDWARDS 3200 SOUTHWEST FREEWAY MEAANWHiTGONZALES S
LYNNE M.FORD
JANET G.TOWNSLEY AUDREY W . H
C NICOL
AILTSOERRINGTON HOUSTON, TEXAS 77027-7523 MARJORIE .NICOL
JAMES P.McINERNY CHRISTOPHER C.ROSAS
(713)552-9595
FAX (713)552-0231
www.PhillipsAkers.com
July 14, 2006
Via Certified Mail, RRR No. 7002 3150 0004 5695 4942
Weld County Board of Equalization
915 10th Street, P.O. Box 758
Greeley, Colorado 80632
Re: 2006 Letters of Protest and Objections (RE); Petitions to Weld County
Board of Equalization.
Dear Sir or Madam:
Pursuant to C.R.S. § 39-8-106, we hereby submit the enclosed Petitions to the
County Board of Equalization appealing the decisions of the County Tax Assessor
regarding the Written Letters of Objections and Protests submitted by Petitioners, copies
of which are enclosed to support this appeal.
Petitioners request that all hearings before the County Board of Equalization be
scheduled in a single time block in order to reduce the amount of time which must be
expended by the Board and by this firm in regard to such hearings.
In the event the Board of Equalization does not grant, in whole or in part, the
appeal from the County Tax Assessor's denial for the property for which the appeal is
being made, please note in your records that copies of denials should be mailed to the
undersigned.
Best Regards,
PHILLIPS & AKERS, P.C.
Christop er C. Rosas
CCR
8622.0005
Enclosure(s)
41 VALERO Ad Valorem Tax
7,4. ENERGY CORPORATION
Weld County Assessor
Re: Written Letter of Objection and Protest.
Dear County Assessor:
Pursuant to the provisions of Colorado Revised Statute § 39-5-122, objection and protest is
hereby made of the determination for 2006 property taxes of the actual value and the assessed value for
the real and personal property described as follows (the"Property")
Property Address: See Attached
Legal Description: See Attached
Schedule No.: See Attached
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$ See
Attached to the correct actual value of the Property as of July 1, 2005, which is $ See
Attached as determined by the factors described in § 39-1-101 and § 39-1-103, as
amended.
Dated May ,1 ,2006.
PROPERTY OWNER:
See Attached
By: �A!1y (�{AAAula
Auth&ized Representative
John Aranda
Property Tax Compliance Manager
210-345-2297
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CLERK TO THE BOARD
PHONE (970) 356-4000 EXT 4226
FAX: (970) 352-0242
WEBSITE: www.co.weld.co.us
915 10TH STREET
P.O. BOX 758
C. GREELEY, COLORADO 80632
COLORADO
July 21, 2006
DIAMOND SHAMROCK STATIONS INC
CIO AD VALOREM TAX DEPT
PO BOX 690110
SAN ANTONIO TX 78269-0110
Parcel No.: 096131416003 Account No.: R4060986
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of August 1, 2006, at or about the hour of
10:20 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,atwhich 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.
DIAMOND SHAMROCK STATIONS INC - R4060986
Page 2
Very truly yours,
BOARD OF EQUALIZATION
Lael41
Donald D. Warden
Clerk to the Board
cc: Stanley Sessions, Assessor
PHILLIPS & AKERS
3400 PHOENIX TOWER
3200 SOUTHWEST FREEWAY
HOUSTON TX 77027-7523
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