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Home My WebLink About20052253.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 2005, WELD COUNTY, COLORADO - DENY PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE PETITION OF: EVANS WAREHOUSE LLC 293 BERTHOUD TRAIL BROOMFIELD, CO 80020 DESCRIPTION OF PROPERTY: ACCOUNT#: R0124987 PARCEL#: 096120308009 -EVS 13132-B PT L1 NE4SW4 20 5 65 & PT VAC GOLDEN ST BEG NE COR OF L1 WHICH PT IS ALSO ON W R/W LINE OF UPRR W303.25' ALONG N LINE OF L1 EXTENDED INTO VAC ST TO PT 5' E OF NE COR L6 NE4SW4 SOD32'W TO PT 5' E OF SE COR OF L6 NE4SW4 S89D33'E 146.97' A 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 2005, 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 2005, 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 $ 139,141 Improvements OR Personal Property 1,004,859 TOTAL $ 1,144,000 2005-2253 AS0061 roc /QS Ag7--- 08'/D-Or RE: BOE - EVANS WAREHOUSE LLC 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 fora 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. 2005-2253 AS0061 RE: BOE - EVANS WAREHOUSE LLC 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 4th day of August, A.D., 2005. oli .st` BOARD OF COUNTY COMMISSIONERS \4 I / `t WELD COUNTY, COLORADO iabi � Lai, William H. J ke, Chair ( �� • ;ii" Clerk to the Board r. ceile, Pro Deputy Clerk to e Board w,k E cr Da 'd�E. Lon APPR S TO FORM: �\IVo-�4X - Rob . Masde// County Attorney � G enn Vaad Date of signature: //e/az9�->` 2005-2253 AS0061 WELD COUNTY STANLEY F. SESSIONS COUNTY ASSESSOR CHRISTOPHER WOODRUFF, DEPUTY ASSESSOR APPRAISAL REPORT OF COMMERCIAL PROPERTY FOR County Board of Equalization EVANS WAREHOUSE LLC PETITIONER VS. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 0961-20-3-08-009 Schedule Number: R0124987 Log Number: 4415 Date: 08/04/05 Time: 3:00 pm Board: CBOE PREPARED BY CHUCK JACK Signature Date ASSESSOR'S OFFICE STAFF APPRAISER ASSESSOR'S VALUE Improvements 1,004,859 Land 139,141 Total: $1,144,000 CBOE_COMM_010998 Page 1 SALIENT FACTS AND CONCLUSIONS Purpose of Appraisal To determine Market Value as of 1/1/05 based on an appraisal date of 6/30/04. Property Rights Appraised Unencumbered fee simple interest. Location 600 31 ST EVANS Land Area 79,509 Square Feet Zoning Property Type Commercial 1— Storage Warehouse Year Built 1979 Year Remodeled Quality Avg Class Metal Frame Number of Stories 1 Improvement Sq. Ft. 44,000 Basement Unfinished Sq. Ft. Basement Finished Sq. Ft. Mezzanine: Value Indications: Land $ 139,141 Cost Approach $ 1,319,963 Market Approach $ 1,584,000 Income Approach $ 1,334,000 Assessor's Value $ 1,144,000 CBOE_COMM_0 10998 Page 2 SUBJECT PHOTO i . Y L ,',,µ I i Yy _ - '4/r.a ,. ..ti'..'tir. .�� CBOE_COMM_0 10998 Page 3 SUBJECT SKETCH 70.0' 32.0' i O. Office of Garage AAA,A 2100.0 sq.ft. !Null sq.ft.i O rA Insulated Package Air Fire Sprinkled 18.0' Fluorescent Light • a= ' N 275.0' x — — I r 1 • O y I r V I O O Storage Warehouse Blt 1979 J Class S Space Heat 20'wh (3) 18'x 14'oh doors /elec. openers Total Area 44000.0 sq. ft. 160.0' Sketch by Apex IVWndaws*a CBOE_COMM_010998 Page 4 COST APPROACH SUMMARY The Assessor is currently using Marshall and Swift cost tables for the cost approach of commercial properties in Weld County, which has been approved by the Division of Property Taxation to be utilized by Colorado Assessors. The structure has been classified properly utilizing the Marshall and Swift Valuation service and an appropriate value assigned. A land value has likewise been established through the utilization of vacant land sales of comparable properties. Improvement Value $ 1,180,822 Land Value 139,141 TOTAL VALUE BY THE COST APPROACH $ 1,319,963 CBOE_COMM_010998 Page 5 COST APPROACH LAND VALUE Sales utilized to establish the value in the subject neighborhood are from 2003 and the first six months of 2004 for the 2005 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 June of 2004 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 is 79,509 square feet. Comparable commercial land in the subject area is valued at $1.75 per square foot. Parcel Number Sale Date Sale Price Land Size Per Sq.Ft. Comparable 1 096130124003 03/29/02 $87,100 47,117 sf $1.84 Comparable 2 096130408003 04/15/03 $169,200 81,056 sf $2.08 Comparable 3 096117313008 04/28/03 $50,000 19,475 sf $2.56 ASSESSOR'S INDICATED SUBJECT LAND VALUE $139,141 CBOE_COMM_010998 Page 6 Storage Warehouse PARCEL NUMBER 96120308009 PROPERTY OWNER Evans Warehouse 600 31 Street, ADRESS Evans CITY, STATE, ZIP Evans, Co, 80631 DATE OF SURVEY 06/30/04 Storage OCCUPANCY: Warehouse NUMBER OF STORIES 1 AVERAGE STORY FLOOR AREA (SQ. FT.) 44,000 HEIGHT 20 CLASS: S YEAR BUILT 1979 COST RANK Avg EFFECTIVE AGE 1990 space heat & HEATING AND COOLING Package-air ESTIMATED LIFE 40 UNITS COST TOTAL RCN BASIC STRUCTURE COST 44,000 $26.71 $1,175,240 (.907 perimeter, 1.01 local, & 1.133 height) EXTRAS: Fencing 660 LF 8,250 Asphalt 24,800 sq. ft. 37,448 Package air 15,980 sq. ft. 91,086 TOTAL RCN $1,312,024 LESS DEPRECIATION PHYSICAL 0.10 $131,202 FUNCTIONAL ECONOMICAL DEPRECIATED COST $1,180,822 ADD IN LAND VALUE $139,141 TOTAL VALUE $1,319,963 $30.00 psf CBOE_COMM_010998 Page 7 MARKET APPROACH SUMMARY Real Property for the tax year 2005 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, 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. 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 2005 are from January 1, 2003 through June 30, 2004. 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 $36.00 accurately reflects the market value of the subject property. VALUE AS INDICATED BY THE MARKET APPROACH $1,584,000 CBOE_COMM_010998 Page 8 COMPARATIVE SALES APPROACH PIN: R0124987 Evans Warehouse LLC] Sale# Subject 1 2 3 4 Comments Subject Property American Eagle Distortions Knight Mfg Sale Parcel# 096120308009 096120308009 096120101025 096120101022 096104401001 Address 600 31 ST 600 31 ST 211 30 St 152 30 St 701 Cherry Av Evans, Co Evans, Co Greeley. Co Greeley, Co Greeley, Co Grantor Pawnee Trans. H & S Distribution Wheeler Properties Summit Group Grantee Evans Whse Trollco Inc. Distortions Knight Mfg Sale Date 08/27/2004 08/15/03 11/28/2000 12/03/2002 Site Price $1,144,000 *Assessor's $1,600,000 $1,800,000 $929,600 $940,000 Value Land Size 79,509 79,509 261,900 113,964 555,826 Bldg SF 44,000 44,000 40,798 24,141 28,020 Year Blt 1979 1979 1980 1995 1995 Use Storage Whse Stor Whse Stor Whse Stor Whse Mfg Whse Price/SF $26.00* $36.36 $44.11 $38.50 $33.55 Assessor's Value Subject Value: $26.00 psf (or $1,144,000) Comps Avg: $38.13 Comps Median: $37.43 Comps Range: $33.55 - $44.11 Estimated Value per the Market Approach: 44,000 Sq Ft x $36.00 = $1,584,000 C8OE_COMM_010998 Page 9 j-..� Boa a]320 Office ° 0.,10. 1 i - 21000.an A'4tlaw.1l e,1 Insulated Package All Flrr c nklri rig 160 Fluaree soenW 4i mof 115 0' 1— — I • rte• Storage Warehouse • 8111979 0 ClassS Space Heat <.. _ 20 wh ..x� _ �sryy ,� „ (3)18 a/1'of doers/Bet openers _ Total Area 44000 sq h. - ---+-� ' 1_111 _. --'---�•_,_. . .�,. 160 0' 4.W by!pa IV1Y,ws" COMPARABLE SALE #1 COUNTY: WELD ACCOUNT NUMBER:R0124987 PARCEL NUMBER: 096120308009 PRIMARY OCC: Storage Warehouse PERCENT: 100% SECONDARY OCC: PERCENT: ADDRESS: 600 31 ST EVANS RECEPT NUMBER: 3214113 SALE DATE: 8/27/2004 GRANTOR: PAWNEE TRANSPORTATION INC SALE PRICE: $1,600,000 GRANTEE: EVANS WAREHOUSE LLC ADJ SALE PRICE: $1,600,000 YEAR BUILT: 1979 CLASS: S EFFECTIVE AGE: 1985 LAND/BLDG RATIO: 1.81 LAND SIZE(SF): 79,509 LAND VALUE: $139,141 BLDG SIZE (SF): 44,000 IMPS PRICE/SF: $33.20 WALL HEIGHT: 20 SALE PRICEISF: $36.36 STORIES: 1 INTEREST RATE: BSMNT SIZE: DOWN PYMT: BSMNT FINISH: LOAN TERM (YRS): ZONING: POINTS PAID: QUALITY: Average CBOE_COMM_010998 Page 10 ;To' F00 Loading Dock 1300.0 _-' 9. _ — rF`' va I sea as 1 ' E9u10 Bldg a .•.O , 1 ' vpotlRd e62003 tW0 n, I ,��s� 3230.0 401 a a°es l { 1 u rin Son i a 1410' {�.1 Ry 16920 0 K{{„a ' f P A �(. SI ,'k Office 900' 1160' '' n ]591100 D,a1 c..._o . . O t Conc.Loadin Well 1 � 9x0ohdoors g � It !i 51100 350'; •�T� 171W9.9--„a.;. 115' , Storage Warehouse 121 0' _ I .01996 ' - Class 5 650'1 1ax16MNv5 18'x!1 14016 oh doors Co n ?year1 . oo anon>,m9 r/e dos.' COMPARABLE SALE #2 COUNTY: WELD ACCOUNT RI112296 PARCEL NUMBER: 096120101025 PRIMARY OCC: Light Industrial Manufacturing PERCENT: 88% SECONDARY OCC: Office Building PERCENT: 12% ADDRESS: 211 30 ST GREELEY RECEPT NUMBER: 3097066 SALE DATE: 8/15/2003 GRANTOR: CALVIN/SBP LLC SALE PRICE: $1,800,000 GRANTEE: 211 INVESTMENTS LLC ADJ SALE PRICE: $1,800,000 YEAR BUILT: 1980 CLASS: S EFFECTIVE AGE: 1990 LAND/BLDG RATIO: 6.42 LAND SIZE(SF): 261,900 LAND VALUE: $261,900 BLDG SIZE(SF): 40,798 IMPS PRICE/SF: $37.70 WALL HEIGHT: 18'-34' SALE PRICE/SF: $44.11 STORIES: 1 INTEREST RATE: BSMNT SIZE: DOWN PYMT: $0 BSMNT FINISH: LOAN TERM(YRS): ZONING: Gre I-H POINTS PAID: QUALITY: Average COMMENTS: THE SUBJECT WAS BLT HAS A DISTRIBUTION WHSE AND WILL BE USED AS A LIGHT INDUSTRIAL MANUFACTURING FACILITY. AFTER THE SALE A 2,380 SQ FT EQUIP BUILDING WILL BE ADDED. THE SUBJECT WAS LISTED FOR $1,975,000. CBOE_COMM_010998 Page 11 179 O' Light Industrial Class C BLT 1995 25'w1 Space Heat 1040' 143 0' Sencond floor Office 40O' - 104O' 144 O' Main Level 19981 O sq.R. 39 0' Second Floor 4160Osq.R. 35 0' Total Sq Ft 24.141 Sq Ft Ram.NWNn' COMPARABLE SALE #3 COUNTY: WELD ACCOUNT NUMBER: 80155890 PARCEL NUMBER: 096120101022 PRIMARY OCC: Indust Lght Manufacturing PERCENT: 100% SECONDARY OCC: PERCENT: THIRD OCC: PERCENT: ADDRESS: 152 30 ST GREELEY RECEPT NUMBER: 2811371 SALE DATE: 11/28/2000 GRANTOR: WHEELER PROPERTIES LLC SALE PRICE: $929,600 GRANTEE: DISTORTIONS UNLIMITED ADJ SALE PRICE: $929,600 YEAR BUILT: 1995 CLASS: C EFFECTIVE AGE: LAND/BLDG RATIO: 4.72 LAND SIZE(SF): 113,964 LAND VALUE: $114,534 BLDG SIZE(SF): 24,141 IMPS PRICE/SF: $33.76 WALL HEIGHT: 25 SALE PRICE/SF: $38.50 STORIES: I INTEREST RATE: 7.00% BSMNT SIZE: DOWN PYMT: $61,600 BSMNT FINISH: LOAN TERM(YRS): 20 YRS ZONING: GRE IM POINTS PAID: QUALITY: Average COMMENTS: THE GRANTEE WAS THE TENANT AND EXERCISED THEIR OPTION TO purchase CBOE_COMM_O1O998 Page 12 a 4 s 1 _ ae Fermate Slab NO 910.0N ft !, 250 0' ` 's' 225000 sq tt. V 3 ,IL° I 1 Manufacturing 2e n__ W _ I T. ClassS � a S Btt 1995 !�m !"' .,x l$ 900' siren 0rre*fnorceaalr °' 20Q wa i mr a -. . .t₹"" • Insulated - 03)14 2 16 oh doors -- (3)-Beam Bridge Cranes(personal Prop) —" - _ — — Total Building Plea 20,020 sq ft. q Co-nbSoh Office n W�09m,.M1 First Floor 27600 sq.I e second Floor 2760.05p n A. 1S9II 92 a' amne,ry..rvrao., COMPARABLE SALE #4 COUNTY: WELD ACCOUNT R6921198 PARCEL NUMBER: 096104401001 PRIMARY OCC: Indust Lght Manufacturing PERCENT: 100% SECONDARY OCC: PERCENT: THIRD OCC: PERCENT: ADDRESS: 701 CHERRY AV GREELEY RECEPT NUMBER: 3014018 SALE DATE: 12/03/2002 GRANTOR: SUMMIT GROUP OF SOUTHERN SALE PRICE: $940,000 GRANTEE: KNIGHT MANUFACTURING ADJ SALE PRICE: $940,000 YEAR BUILT: 1995 CLASS: S EFFECTIVE AGE: 1995 LAND/BLDG RATIO: 19.84 LAND SIZE(SF): 555,826 LAND VALUE: $277,913 BLDG SIZE (SF): 28,020 IMPS PRICE/SF: $23.63 WALL HEIGHT: 24 SALE PRICE/SF: $33.55 STORIES: 1 INTEREST RATE: BSMNT SIZE: DOWN PYMT: $940,000 BSMNT FINISH: LOAN TERM (YRS): ZONING: POINTS PAID: QUALITY: Average COMMENTS: The subject building has 28,020 total square feet which includes 5,520 sq. ft. (20%) of two story office area. CBOE_COMM_O10998 Page 13 ESTIMATED MARKET INCOME WORKSHEET Parcel : 096120308009 Name: Evans Warehouse LLC Address: 600 31 Street, Evans Bldg Sq Ft Use No of Units 44,000 Stor Whse 1 Effective Tax Rate Mill Rate Assm't Rate Tax Rate 0.088781 0.29 0.025746 Avg Rent PSF Annual Annual Rent per Gross Area Rent PSF Month Income Main Fir PSF 44,000 $3.75 NNN $13,750 $165,000 LessVacancy & Expenses Vacancy 10% $16,500 EGI $148,500 mgmt 3% $4,455 R/R 2% $2,970 Net Income $2.91 $141,075 Net Income/Overall Cap Rate = Property Value Property Value Value Per Sq Ft Cap Rate+Elf Tax Rate 0.080 0.0257 0.106 $1,334,087 $30.32 Total Value ES N'S Property Value $1,334,000 $30.32 CBOE COMM 010998 Page 14 MARKET RENT COMPARABLES Gross Net Comparable Bldg Year Income Income Rentals Use Address Size Const'd Per Sq Ft Per Sq Ft Knight Manf manf 701 Cherry, Grly 28,020 1995 NNN $3.17 Steinbecker whse 2600 2nd Av, Grly 24,767 1968 NNN $3.50 Distortions manf 152 30 St, Grly 24,821 1995 NNN $3.58 Federal Exp Dist Whse 1255 H St, Grly 24,590 1997 NNN $4.17 Iron Mtn whse 600 31 St, Grly 44,000 1979 NNN $3.85 1201 Deline Box Mfg Whse Cornerstone 144,000 1986 NNN $3.86 Amer. Eagle 211 30 St, Grly 44,028 1980 NNN $4.25 Range of Rents $3.17 - $4.25 NNN Avg $3.76 Median $3.86 CBOE_COMM_010998 Page 15 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 $1,334,000 CBOE_COMM_010998 Page 16 CONCLUSION Real property for tax year 2005 must be valued utilizing the level of value for the period of one and one-half years immediately prior to July 1, 2004. Except that, if comparable valuation data is not available from such one-and one-half-year period to adequately determine the level of value of a class of property, the period of five years immediately prior to July 1, 2004 shall be utilized to determine the level of value. Said level of value shall be adjusted to the final day of the data gathering period. Changes occurring between base years are not to be accounted for until the following level of value is implemented, other than additions, change in use, detrimental acts of nature, damage due to fire, etc., or creation of a condominium, or any new regulations restricting or increasing the use of the land, or a combination thereof. {39-1-104(11)(b)(1)C. R .S.} The subject property has been classified as Commercial Property for assessment purposes. Commercial property value shall be determined by appropriate consideration of the Cost Approach, Market Approach, and Income Approach to value. {39-1-103(5)(a)C. R. S.} The Assessor has considered all three approaches to value for the subject parcel on appeal. FINAL RECONCILIATION After consideration of the cost, market and income approaches, it is the Weld County Assessor's opinion that the value of$1,144,000 , most accurately reflects the value of the subject property in Weld County for the 2005 tax year. COST APPROACH MARKET APPROACH INCOME APPROACH ASSESSOR $ 1,319,963 $1,584,000 $1,334,000 $1,144,000 ASSESSOR'S VALUE Improvements 1,004,859 Land 139,141 Total: $1,144,000 CBOE_COMM_010998 Page 17 • OFFICE OF COUNTY ASSESSOR NOTICE OF DENIAL l400 yEY,lGO s06�31 FsVS 1313a-8 PT Ll NE43W4 2O 5 65 & PHON (97o)35ww.c. eld.coo 6jt PT VAC 3 C32-B ST NE NE COR OF Ll w.vw,w_ XT.3 .os WHICH PT IS ALSO ON W R/W LINE OF EXTENDED INTOVACNST TO PT 5'O OF E1 OF W1�Di OWNER: LEVANSS W4 W PT 5' E WAREHOUSELLC COLORADO gg EVANS WAREHOUSE LLC • LOG _4415,•-0308OU.9 293 BERTHOUD TRAIL - ACCOUNT [20124987 BROOMFIELD, CO 8OO2O YEAR •2.905' _ • The appraised value of property is bend on the appropriate consideration of the apptosobes to valve required by law. The Amessor has,Qctermined that your properly scold be included in the following categotyOesg • , commercial property is valued by considering the coot; market, and income approaches . If your concern is the amount of your property tax,local taring authorities(county,city,fire protection,and other special districts)hold budget bearings id the fa1L Plane refer to your tax bill or ask your Asenor for a Wring of these districts,and plan to attend those 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; The Colorado Constitutiori. requires commercial property to be valued based on actual value and accessed at 29%. Replacement ost, market, and income are approaches used to determine the actual value dyourlproperty Your valuation is supported by the appraisal procedures requireby PBTrTIONER'S • ASSESSOR'S VALUATION PROPERTY CLA93PFICATION ESTIMATE a SLUE ACTUAL VALUE ACTUAL VALUE PRIOR TO REVIEW AFTER REVIEW COMMERCIAL 1144OOO 1144OOO • TOTALS 3 $ i1nennn S APPEAL DEADLINES: REAL PROPERTY—JULY 15,PERSONAL PROPERTY—JULY 20. If you disagree with the Assessor a dectsloo,you have the right to appeal to the County Poem of Equalization for Mather consideration. §39..S• 10G(1)(s),C.R.B. Planm see the back at this term for detailed luformat(oa on filing your appoaL By: stanlevF.Sessiions 06/30/2005 WELD COUNTY ASSESSOR DATE ADDITIONAL INFORMATION ON REVERSE SIDE ralri.r oa E 'd SEtrI-99E-STL uauuagul pateutajye0 WdBT =4 SOO2 21 inc Sron fllottnf- tin ieecre[s i'Naiasernenf, rile. IoOO 3/S-i- 61-ree+ fJree1ey ID YOU HAVE THE RIGHT TO APPEAL THE ASSESSOR'S DECISION the County Board of Equalization will sit to hear appeals beginning rub, 1 and continuing through August 5 for real property (land and buildings) and personal property(ftituisbings,machinery,and equipment). § 39-8-104 and § 39- 8_l07(2), C.R.S. ifyo 'Rto APPEAL you choose to appeal the Assessor' s decision,mail or deliver one Dopy of this completed form to the County Board of FtJ FOR REAL PROPERTY,At appeal,ERTY our app? l Must be POS20 FOR PERSONAL AL PPROPERTY Olt DELIVERED ON OR BEFORE JULY 15 WELD COUNTY BOARD OP EQUALIZATION 915 10th Street,P.O.Box GreeleyS Colorado 758 80632 Telephone(970)356-4000 Ext 4225 NOTIFICATION . ABINO: pp your appeal. You will be notified of the time and place set for the hearing of COz$+1TY-BflAR').Q r ERd3'3SI:Tff: MOWS D'qtelniSIWZIONk The County Board of Equalization must make a decision on your appeal and mail you a determination within five 5. business days of that decision. The County Board must conclude its hearings and render decisions by August TA ou are not satisfied It��Ttit rd of 8: If County Board of Equa vritblization" s wrintte Board decision t with ONE of the following: must file within thirty days of the Board of Assessment Appeals (BAA): Contact the BAA at 1313'Sherman, dolme33l5doenver,Colorado 80203, (303)866-5880. District Court- 9th Avenue and 9th Street,P.0,Box C Greeley Colorado B0632 Telephone(9*) 356-4000,Ext. 4520 Arbitration: WELD COUNTY BOARD OF EQUALIZATION 915 10th Street,P.O.Box 758 Oceeleeyy, Colorado 80632 Telephone(970)356-4000,Ext. 4225 I of Assessment you do not receive e 12. determination ny September e County Board of Equalization,you must file an appeal with the BoTO PRESERVE YOUR.APPEAL RIGHTS,YOU MUST PROVE YOU HAVE FILED A TIMELY APPEAL; THEREFORE,WE RECOMMEND ALL CORRESPONDENCE BE MAILED WITH PROOF F PETITION TO THE COUNTY BOARD OF EQUALIZATION In the space below,please explain why youPMEAL disagree OLVES REAL PR PERTX,YOU MUST STATE IN ACCORDANCE R WITH § 39-8-1ON( , C.R.S. IF YOUR S OF A INVOLVES OPINION OF V IN TERMS OF A SPECIFIC DOLLAR AMOUNT. Attach additional documents as necessary. itir\-, . . 17/705 DATE b 'd SEbr-SSE-SIG tlau.iatui pageuiaJde3 WdBI :V S002 at inc Authorization of Agent for Iron Mountain Records Management,Inc. Property Address PIN Number Tax Year 600 31"Street Greeley,CO R0124987 2005 To Whom it May Concern: The above referenced owner/taxpayer hereby appoints Cushman&Wakefield of Oregon, Inc. and any of its employees as its authorized agent. „?o0 Sul The,k ¢ Sk uat at ha2-Ca,,d , c2. c72cr/ - 573c This agent is authorized to file returns and applications for exemption or special assessment, to correct and change mailing addresses for tax bills and notices, to investigate appraisals and assessments, to review and receive copies of any prior year tax returns, to appeal property values and taxes, to appear before administrative boards or agencies on behalf of taxpayer, to have access to all records which would be available to the taxpayer and to appeal decisions of the Board of Equalization to Superior Court. The rights, powers, and authority granted herein shall commence upon the execution of this letter and terminate upon the completion of all issues related to all pending tax appeal filings unless earlier revoked in writing. Authorized Signature: Ivy yl . Compa�n L JC T/ t of Co orate'�fbcer Signature rp Title Printed Name Ar7, 4---3( `f9 Telephone No. 60/ C. Date CLERK TO THE BOARD PHONE (970) 356-4000 EXT 4217 FAX: co. 352-0242.co.us WEBSITE: www.co.weld.co.us 915 10TH STREET 111 D P.O. BOX 758 GREELEY, COLORADO 80632 C. COLORADO July 19, 2005 EVANS WAREHOUSE LLC 293 BERTHOUD TRAIL BROOMFIELD CO 80020 Parcel No.: 096120308009 Account No.: R0124987 Dear Petitioner(s): The Weld County Board of Equalization has set a date of August 4, 2005, at or about the hour of 3:00 PM,to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Department of Planning Services, Conference Room, 918 10th Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5,2005, and mailed to you on or before August 12, 2005. 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 request . it directly from the Assessor's Office by fax (970) 304-6433, or by calling (970) 353-3845. Upon receipt of your 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. EVANS WAREHOUSE LLC - R0124987 Page 2 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. Very truly yours, BOARD OF EQUALIZATION / ak �� Donald D. Warden Clerk to the Board cc: Stanley Sessions, Assessor CUSHMAN & WAKEFIELD OF OREGON INC Hello