HomeMy WebLinkAbout20052174.tiff RESOLUTION
RE: THE BOARD OF EQUALIZATION, 2005, WELD COUNTY, COLORADO - DENY
PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE
PETITION OF:
MOTEL 6 OPERATING L P
C/O ACCOR NORTH AMERICA TAX DEPT
P O BOX 117508
CARROLTON, TX 75011
DESCRIPTION OF PROPERTY: ACCOUNT#: R3868086 PARCEL#: 096120208016-EVS
SG-15 L15-16 AMENDED SOUTHGATE SUB SITUS: 3015 8 AV EVANS 80620
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 bythe
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 year2005,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 $ 145,320
Improvements OR
Personal Property 1,564,680
TOTAL $ 1,710,000
2005-2174
AS0061
C A, purr-
otf o� os
RE: BOE - MOTEL 6 OPERATING L P
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.
2005-2174
AS0061
RE: BOE - MOTEL 6 OPERATING L P
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
-_following vote on the 29th day of July, A.D., 2005.dins/\,‘k JE LE BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
1861 �I' +` j Midia% EXCUSED
r. j1.r- /�e, William H. J , Chair
% 4,r' ' Clerk to the Board
Geile, P o-Tem
BY:
Deputy Clerk to the Board
David E. Long
APPROVED AS TO FORM:
EXCUSED
Robe D. Masde
ssis touracc �,�c p/ �'
Assis nt ou Attorney
Glenn Vaad
Date of signature: ec,_
2005-2174
AS0061
Weld County
STANLEY F. SESSIONS COUNTY ASSESSOR
CHRISTOPHER WOODRUFF, DEPUTY ASSESSOR
APPRAISAL REPORT
OF
COMMERCIAL PROPERTY
FOR
County Board of Equalization
MOTEL 6 OPERATING L P
PETITIONER
vs.
WELD COUNTY ASSESSOR'S OFFICE
RESPONDENT
Parcel Number: 0961-20-2-08-016
Schedule Number: R3868086
Log Number: 3359
Date: 07/29/05
Time: 10:30 AM
Board: CBOE
PREPARED BY
CHUCK JACK
Signature Date
ASSESSOR'S OFFICE STAFF APPRAISER
ASSESSOR'S VALUE
Improvements 1,564,680
Land 145,320
Total: $1,710,000
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 3015 8 AV
EVANS
Land Area 83,040 Square Feet
Zoning
Property Type Commercial
1— Motel
Year Built 1981
Year Remodeled
Quality Average
Class Wood Frame
Number of Stories 2
Improvement Sq. Ft. 26,676
Rooms 94
Basement Finished Sq. Ft.
Mezzanine:
Value Indications:
Land $ 145,320
Cost Approach $1,908,164
Market Approach $2,707,200
Income Approach $2,002,200
Assessor's Value $1 ,710,000
CBOE_COMM_010998
Page 2
Subject Property Photo & Sketch
lir:iv:earn L. MI
�. 5. 2005
Motel
BIt 1981
Class D
Warm 8 Cool Air Zoned
4'Balcony
0
0
First Floor Pool N First Floor
3686.0 sq.it. N
Second Floor 3686 0 s ft.
32.0' Second Floor
3686.0 sq.it.
3686 0 sq.ft.
97 0• 97.0' 84.0' O
O ft
First Floor 3192.0 sq.ft.
Isq r 38.0' 2774.O ft. Second Floor 3192.0 sq. .Firth Fr
M
Second Floor
2774.0 sq.ft.
73.0'
38.0' 38.0'
Balcony 18491.0 sq.ft.
Sketch ky'Vex IV'''
CBOE COMM_010998
Page 3
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 83,040 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 096120403051 03/03/03 $100,000 49,223 $2.03
Comparable 2 096129208006 05/22/02 $168,000 83,783 $2.01
Comparable 3 096129208007 11/20/03 $220,000 83,779 $2.63
ASSESSOR'S INDICATED SUBJECT LAND VALUE
$ 145,320
CBOE_COMM_010998
Page 4
Limited Service Hotel
PARCEL NUMBER 96120208016
PROPERTY OWNER Motel 6 Operation LP
ADRESS 3015 8 Av
CITY, STATE, ZIP Evans, Co, 80620
DATE OF SURVEY 06/30/04
OCCUPANCY: Limited Hotel NUMBER OF STORIES 2
AVERAGE STORY
FLOOR AREA (SQ. FT.) 26,676 HEIGHT 9
CLASS: Wood Frame YEAR BUILT 1981
COST RANK Avg EFFECTIVE AGE 1995
HEATING AND COOLING Warm & Cool Air Zoned ESTIMATED LIFE 40
UNITS COST TOTAL
RCN BASIC
STRUCTURE COST 26,676 $69.02 $1,841 ,178
(1.0 perimeter,
1.01 local, & 1.06 current)
EXTRAS:
Canopy 1,432 20,764
Asphalt 61,850 93,393
Conc. Slab 1,432 $3,380
TOTAL RCN $1 ,958,715
LESS DEPRECIATION
PHYSICAL 0.10 $195,871
FUNCTIONAL
ECONOMICAL
DEPRECIATED COST $1,762,844
ADD IN LAND VALUE $145,320
TOTAL VALUE $1,908,164
CBOE_COMM_010998
Page 5
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 $1,762,844
Land Value 145,320
TOTAL VALUE BY THE COST APPROACH
$1,908,164
CBOE_COMM_010998
Page 6
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 $28,800 PER ROOM accurately reflects the market value of the subject
property.
VALUE As INDICATED BY THE MARKET APPROACH
$2,707,200
CBOE_COMM_0 10998
Page 7
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COMPARABLE SALE #1 COUNTY: WELD
ACCOUNT R7130298 PARCEL NUMBER: 096 120208021
PRIMARY OCC: Motel PERCENT: 100%
SECONDARY OCC: PERCENT:
ADDRESS: 3025 8 AV EVANS
RECEPT NUMBER: 3162106 SALE DATE: 3/12/2004
GRANTOR: YOO JAMES INVESTMENT INC SALE PRICE: $2,300,000
GRANTEE: INVESTMENTS INC ADJ SALE PRICE: $2,222,500
YEAR BUILT: 1995 CLASS: D
EFFECTIVE AGE: LAND/BLDG RATIO: 3.11
LAND SIZE(SF): 78,320 LAND VALUE: $137,060
BLDG SIZE(SF): 25,182 IMPS PRICE/SF: $82.81
WALL HEIGHT: 9 SALE PRICE/SF: $88.25
STORIES: 2 INTEREST RATE:
BSMNT SIZE: DOWN PYMT:
BSMNT FINISH: LOAN TERM(YRS):
ZONING: C-3 POINTS PAID:
QUALITY: Good
COMMENTS: The subject is a 61 units express hotel selling for$36,434 per unit. The sale price of
$2,300,000 less FF&E of$75,000 and franchise fec of$2,500 equals the adjusted sales price of
$2,222,500.
CBOE_COMM_0 10998
Page 9
51 00'
66 00' 5.001 '5 00 66 00'
33 00' Pool Area
3300' 1683 00 sf 33 00'
First Floor 11221O0x1
� a� 4 00 First
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f 1'1 '
P1I'11'II 'I 5 hl. j _ 1800 TMrdFloor 1093400st 1800'
Ill , 1 •', - • .tI lsw B Is
. Total 3311600 sr 900'
nr
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w Yf d�, NM, I 50.50' 113.00' 00' 4�00'13 00' 50 50'
5001900'
1500' 34.00' ��y'1200 20 00'1500'
CM• 3 4% 1600' 300'
Canopy
708 00 sf
shed 60oos1
L s 44'
COMPARABLE SALE #2 COUNTY: Weld
ACCOUNT NUMBER: R0356595 PARCEL NUMBER: 095924100087
PRIMARY OCC: Hotel PERCENT: 100%
SECONDARY OCC: PERCENT:
ADDRESS: 2501 W 29 St, Greeley
RECEPT NUMBER: 2768056 SALE DATE: 05/01/2000
GRANTOR: O1 Greeley#2 LLC SALE PRICE: $3,300,000
GRANTEE: Hanzel Richard ADJ SALE PRICE: $3,083,077
YEAR BUILT: 1997 CLASS: D
EFFECTIVE AGE: LAND/BLDG RATIO: 2.25
LAND SIZE (SF): 74,400 LAND VALUE: $297,600
BLDG SIZE (SF): 33116 IMPS PRICE/SF: $84.11
WALL HEIGHT: 9 SALE PRICE/SF: $93.10
STORIES: 3 INTEREST RATE:
BSMNT SIZE: DOWN PYMT:
BSMNT FINISH: LOAN TERM (YRS):
ZONING: POINTS PAID:
QUALITY: Avg
COMMENTS: 63 rooms selling for $48,938 per room
CBOE_COMM 010998
Page 10
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COMPARABLE SALE #3 COUNTY: WELD
ACCOUNT R0080888 PARCEL NUMBER: 131303000041
PRIMARY OCC: Motel PERCENT: 94%
SECONDARY OCC: Motel PERCENT: 94%
THIRD OCC: Multiple-Residential PERCENT: 6
ADDRESS: 3815 119 HWY WELD
RECEPT NUMBER: 2863169 SALE DATE: 06/27/2001
GRANTOR: TWIN PEAKS HOSPITALITY INC SALE PRICE: $2,650,000
GRANTEE: THEINCO HOSPITALITY LLC ADJ SALE PRICE: $2,600,000
YEAR BUILT: 1973 CLASS: C
EFFECTIVE AGE: LAND/BLDG RATIO: 4.14
LAND SIZE(SF): 160,432 LAND VALUE: $561,512
BLDG SIZE(SF): 38,789 IMPS PRICE/SF: $52.55
WALL HEIGHT: 10 SALE PRICE/SF: $67 A3
STORIES: 2 INTEREST RATE: 9.00%
BSMNT SIZE: DOWN PYMT: $550,000
BSMNT FINISH: LOAN TERM(YRS): 25 YRS
ZONING: POINTS PAID:
QUALITY: Average
Comments: The subject has 72 rooms selling for $36,111 per room
CBOE COMM_D10998
Page 11
COMPARABLE SALE #4 COUNTY: Larimer
ACCOUNT NUMBER: PARCEL NUMBER:
PRIMARY OCC: Limited Service Hotel PERCENT: 100%
SECONDARY OCC: PERCENT:
ADDRESS: 914 S College Av, Ft. Collins
RECEPT NUMBER: SALE DATE: 03/2002
GRANTOR: Remiasz, Ewa SALE PRICE: $2,700,000
GRANTEE: Stratborough Investors AN SALE PRICE:
YEAR BUILT: 1962 CLASS: D
EFFECTIVE AGE: LAND/BLDG RATIO:
LAND SIZE (SF): 28,546 LAND VALUE:
BLDG SIZE (SF): 30,867 SALE PRICE/SF: $87.47
WALL HEIGHT: 9 INTEREST RATE:
BSMNT SIZE: DOWN PYMT:
BSMNT FINISH: LOAN TERM (YRS):
ZONING: POINTS PAID:
QUALITY: Avg
COMMENTS: The subject has 74 rooms selling for $36,486. Best Western University Inn
CBOE_COMM_010998
Page 12
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
$2,002,200
CBOE_COMM_010998
Page 13
INCOME APPROACH
3 YEAR AVG
PERFORMANCE Ratios
I&E Year 2002-2004
I&E Date 12/31/04
Average Daily Rate $35.30
Potential Gross Income $1,211,143 100.00%
Occupancy 59.60%
Effective Gross Income: $722,123
LESS: Total Expense $469,380 65%
Subtotal $252,743
add : Property Tax $36,820 3 YEAR AVG
NOI before Reserves $289,563
less: Reserves for replacement $21,663 3.0%
NOI Before PP $267,900
NOI $267,900 37%
Loaded Cap Rate 12.5%
Value with PP $2,143,200
Less Return OF PP $141,000 1,500 X 94 ROOMS
Indicated Value $2,002,200
Indicated Value/Room $21,300
CBOE_COMM_010998
Page 14
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 1,710,000.00 , most accurately reflects the value of the subject property in
Weld County for the 2005 tax year.
COST APPROACH MARKET APPROACH INCOME APPROACH ASSESSOR'S
VALUE
$1,908,164 $2,707,200 $2,002,200 $1,710,000
ASSESSOR'S VALUE
Improvements 1,564,680.00
Land 145,320.00
Total: $1,710,000
CBOE_COMM_010998
Page 15
07/06/2005 09: 03 9723605582 ANA TAX PAGE 04/18
NtUU JUL Ub LUUt1
NOTICE OF DENIAL OFFICE OF COUNTY ASSESSOR
1400 NORTH 17th AVE.
( EVS SG-is L15-16 AMENDED SOUTHGATE GREELEY.Co 80631
+f a� SUE SITUS : 3015 8 AV EVANS 80620 • PHONe(970)353-3845,ExT.3650
.. ._- www.co.wdd.co.us
OWNER: MOTEL 6 OPERATING L P
COLORADO -
MQQTEL 6 OPERATING L P LOG 3359
C/O ACCOR NORTH AMERICA TAX DEPT • PARCEL 096120208016
P 0 BOX 117508 ACCOUNT R3868086
CARROLTON, TX 75011 YEAR 2005
•
•
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 p'ropc,iy should S 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,lire 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:
The Colorado Constitution requires commercial property to be valued based on
actual value and assessed at 29% . Replacement cost, market, and income are
approaches used to determine the actual value of your property. Your valuation
is supported by the appraisal procedures required by law.
•
•
•
PETITIONER'S ' ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE
• OF VALUE ACTUAL VALUE ACTUAL VALUE
PRIOR TO REVIEW AFTER REVIEW
•
COMMERCIAL 1710000 1710000
•
TOTALS $ $ 1710000 $ 1710000
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(I)(a),C.R.S. Please see the back of this form for detailed information on filing your appeal;
By: Stanley F.Sessions 06/24/2005
WELD COUNTY ASSESSOR DATE
ADDITIONAL INFORMATION ON REVERSE SIDE
ea-r47-BAO
17/lb/211b 197:13 7/23b1bb2 RM.; IHX --
YOU HAVE 'LIKE KllxIll .t.ti AYY.UAL Inc,n.�ul:uuvA. U ....n....“.-Inn, g
d the Cotmla Board of
buildings) and personalto hear propertyp(furnieals shings, machinery nand equipment).through
39 8-104 and § 39
ust 5 for real
property
i-107(2), C.R.S.
APPEAL PROCEDURES:
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 reserve your right to appeal, your appeal must be POSTMARKED OR DELIVERED
ON OR BEFORE JULY 15 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)336-4000 Ext. 4225
NOTIFICATION OF REARING:
You will be notified of the time and place set for the hearing of your:appeal.
COUNTY.BOARD OF.EQUALIZATION'.SDETERMINATION:
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..
TAXPAYERRIGHTS FOR FURTHER APPEALS:
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,
c315,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 .L
915 loth Street;P.O. Box 758 If 3
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 12.
TO PRESERVE YOUR APPEAL RIGHTS,YOU MUST PROVE YOU HAVE FILED A TIMELY
APPEAL; THEREFORE,WE RECOMMEND LL CORRESPONDENCE BE MAILED WITH PROOF
OF
TITION THE UNTY B OF EQUA ATI
In the space below, please explain why you disagree with the Assessor' s valuation. IN ACCORDANCE WITH §
39-8-106(1. , 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.
s-itLlceA docu.,,,,e.frds cffut diromno t o&cJ in-t ,vi- -
f-e-r itecnc C cy 'd17. I` m ate.
cl--✓ee/ DAm
,,(,NA'1U PYGTn ION-/ER n ,nn del
./1 /i. . .; >'VL. 1. pw' i i C 6 d-C-[. PR-207-61/03
wii. Motel 6 Summary Worksheet
Loc# 327 YrBlt 1981
State CO Rooms 94
Address 3015 8th Avenue Impr SF 30,400
City Evans Lot Size 83,040
County Weld
Parcel# R3868086
Performance History
%age %age %age
Year 2003 Chg 2003 Chg 2002 Chg 2001
ADR 34.58 2.16% 33.85 -7.87% 36.74 1.83% 36.08
OCC % 55.50% -545% 58.70% -7.85% 63.70% -1529% 75.20%
RevPar 19.21 -a27% 19.86 -15.13% 23.40 -13.68% 27.11
Total Revenue 668,848 -2.64% 686,993 -15.24% 810,528 -14.10% 943,609
Indicated Value for 2005
YE'04 3-yr AVG
ADR 34.58 35.06
OCC °/0 55.50% 59.30%
Total Rev. 668,848 722,123
Expenses 434,751 469,380 65% Expense Ratio
Reserves 66,885 72,212 10% of Total Revenue
Indicated Net 167,212 180,531
Total Cap Rate 14.00% 14.00%
Total Value 1,194,371 1,289,505
Less PP Value 119.437 128.951 10 Percent
Real Estate Value 1,074,934 1,160,555
Assessment History
Year 2004 2003 2002 2001
Land ? 42,140 42,140 30,100
Improvements ? 366.620 366.620 366,620
Total 495,900 408,760 408,760 396,720
Assessment Ratio 29% 29% 29% 29%
Total FMV 1,710,000 1,409,517 1,409,517 1,368,000
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A CCOR
ASSESSEE'S AUTHORIZATION OF TAX AGENT
I,the undersigned, as a corporate officer of Accor North America,Inc.,do hereby
appoint Ad Valorem Tax,Inc. to act as our Authorized Agent in all matters which relate
to the ad valorem tax matters for all properties owned,leased or otherwise controlled by
Accor North America, Inc. and doing business as Motel 6,Red Roof Inns and Studio 6
throughout the United States.
Accor North America
This agency includes filing of declarations and appeals, reviewing appraisals,
4001 International Parkway discussing valuations with assessment authorities and meeting with any assessment
Carrollton.Texas 75007 appeal boards.
Tel: 972 360 9000
Ad Valorem Tax,Inc. shall represent the undersigned before assessing officials,
www.accor.com Boards of Tax Review,Equalization or other similar administrative body as though the
company was present and involved in the proceedings. In addition all information
Solltel available to owner is to be shared with our Agent.
Nevoid
Ibis This agency shall expire December 31,2005. I understand that this agency may
Red Roof Inns be revoked at an earlier date with written notice to the appropriate assessment
Studio 6 authorities.
Motel 6
ACCORNORTH A,INC.
By: 6 is
Title: Sr.VP Tax&Restructuring__
Date: /- 3 - &5"
{State of Texas)
{County of Denton}
This instrument was acknowledged before me on I/3/os ,by Kent E. Howerton,
Sr.V.P.Tax&Restructuring of Accor North America,Inc.,a Delaware corporation,on
behalf of said corporation.
•
•
SARAH GILL �A�/.l.►_ I
C Nouratt suitx 2 . .• .
\' to llll1109 f al: itary Public's Signature
`
JUKE Ra►. 2OOS
a
ree) CLERK TO THE BOARD
PHONE (970)356-4000 EXT 4217
FAX: (970)352-0242
WEBSITE: www.ca.weld.co.us
liD
91510TH STREET
111 P.O. BOX 758
C. GREELEY, COLORADO 80632
COLORADO
July 20, 2005
MOTEL 6 OPERATING L P
C/O ACCOR NORTH AMERICA TAX DEPT
P O BOX 117508
CARROLTON TX 75011
Parcel No.: 096120208016 Account No.: R3868086
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of July 29,2005,at or about the hour of 10:30
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 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.
MOTEL 6 OPERATING L P - R3868086
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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
£ iA.
Donald D. Warden
Clerk to the Board
cc: Stanley Sessions, Assessor
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