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Home My WebLink About20052238.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 2005, WELD COUNTY, COLORADO - DENY PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE PETITION OF: HIGHLAND PARK RECREATION INC 1900 59TH AVE GREELEY, CO 80634 DESCRIPTION OF PROPERTY: ACCOUNT#: R0036093 PARCEL#: 095910307009 -GR HK7-3 L2 & 3 BLK 7 HILAND KNOLLS SUB SITUS: 1900 59 AV GREELEY 00000 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 $ 658,628 Improvements OR Personal Property 674,975 TOTAL $ 1,333,603 2005-2238 AS0061 lsr t-: /'e7 oe=/v RE: BOE - HIGHLAND PARK RECREATION 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. 2005-2238 AS0061 RE: BOE - HIGHLAND PARK RECREATION 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 4th day of August, A.D., 2005. east," BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO 1-Lsoik 414/Setzet si�z' $1 William H. rke, Chair 4a:old 4n, ty Clerk to the Board �r. 5W' , N� ,( re M. J. ile, ro-Tem Deputy Clerk to e Board (` David . Lon APPROV AS TO F Robeg7Jtt Q. Masden /-Assistant County Attorney Glenn Vaad Date of signature: 2005-2238 AS0061 Weld County STANLEY F. SESSIONS COUNTY ASSESSOR CHRISTOPHER WOODRUFF, DEPUTY ASSESSOR APPRAISAL REPORT OF COMMERCIAL PROPERTY FOR County Board of Equalization HIGHLAND PARK RECREATION INC PETITIONER VS. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 0959-10-3-07-009 Schedule Number: R0036093 Log Number: 3525 Date: AUGUST 4, 2005 Time: 9:30 am Board: CBOE PREPARED BY STEVE MALLETT Signature Date 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 1/1/05 based on an appraisal date of 6/30/04. Property Rights Appraised Unencumbered fee simple interest. Location 1900 59 AVENUE GREELEY Land Area 164,657 Square Feet Zoning Property Type Commercial 1— Bowling Alley Year Built 1992 Year Remodeled Quality Average Class Metal Frame Number of Stories 1 Improvement Sq. Ft. 31,646 Basement Unfinished Sq. Ft. Basement Finished Sq. Ft. Mezzanine: Value Indications: Land $658,628.00 Cost Approach $1,347,877.00 Market Approach $1,388,000.00 Income Approach $1,386,700.00 Assessor's Value $1 ,333,603.00 CBOE_COMM_010998 Page 2 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 164,657 square feet. Comparable commercial land in the subject area is valued at $4.00 per square foot. Address Sale Sale Price Land Size Per Sq Ft Date J. Arthur Holdings Comparable 1 1815 65th Avenue, 3/12/03 $195,000 38,115 SF $5.12 Greeley Evangelical Lutheran Comparable 2 Good Samaritan 2/20/04 $2,800,000 480,511 SF $5.83 NWC 18th Street & 59th Avenue, Greeley Hiland Park Office Comparable 3 Complex 5/28/03 $773,100 209,544 SF $4.25 5500 W 19th Street, Greeley ASSESSOR'S SUBJECT LAND VALUE $4.00 x 164,657 SF = $658,628.00 CBOE_COMM_010998 Page 3 SUBJECT PHOTO iittair rr• b Wr. a A lerIts l it xTet c _, • 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 $689,249.00 Land Value $658,628.00 TOTAL VALUE BY THE COST APPROACH $1,347,877.00 CBOE_COMM_010998 Page 4 MARKET APPROACH COMPARABLE SALES ADDRESS Grantor/Grantee ' Date of Sale Square Price Sale Price Foot Per SF Highland Park Lanes Subject 1900 59th Avenue, 31,547 SF $42.39 Greeley Wamoco Skating Rink NORCROSS,J W JR& 5807 W 20th Street, MARILYN!ST JAMES 1/11/2005 $950,000 22,950 SF $41.39 Greeley PL LLC 2 Classic Lanes EDDIE& LINDA GOLD/ 2454 8`h Avenue TOP SCORE LLC 2/5/1999 585,000 21,460 SF $27.26 Greeley 3 Fort Lupton Lanes ZADEL ENTERPRISES/ 9/8/2000 746,800 15,802 SF $47.26 217 1 Street FERNANDO CAMAM Fort Lupton MARKET CALCULATIONS SUBJECT 31,547 SQ. FT. TIMES $44.00 PER SQ. FT. EQUALS $1,388,068 ROUNDED TO $1,388,000 CBOE_COMM_010998 Page 5 INCOME APPROACH Greg Riddoch Sports Academy leased the building next door to the subject at 1990 59th Avenue, in the mid nineties for $4.14 NNN. ESTIMATED INCOME WORKSHEET Parcel : R0036093 Name: HIGHLAND PARK LANES Address: 1900 59th AVENUE No of Bldg Sq Ft Use Units 31,547 Bowling Alley ra , a Rent Annual Annual per Gross Area Rent PSF Month Income wow' 10-00305 Less Vacancy Vacanc 5% $6,530 Mgmt & Reserve 5% $6,204 g. ` s rrra it - „f't jt� ' rir r Net Income/Overall Cap Rate = Property Value Income Value Per Sq Value Ft :fait T'$1,38000 CBOE_COMM_010998 Page 6 FINAL RECONCILIATION COST APPROACH MARKET APPROACH INCOME APPROACH $1,347,877.00 $1,388,000.00 $1,386,700.00 ASSESSOR'S VALUE $1,333,603.00 CBOE_COMM_010998 Page 7 07/13/05 08:48 FAX WELD ASSESSOR 2002 • Wez-0 NOTICE OF DENIAL • OFFICE OF COUNTY ASSESSOR 1400 NORTH 17th AVE. e GR HK7-3 L2 & 3 BLK 7 HI LAND KNOLLS GREELEY,CO So631 7 SSUB SITUS: 1900 59 AV GREELEY 00000 PHONE(970)353:3845,EXT.3650 ww•w.co.weld.co.us • 111kO OWNER: HIGHLAND PARK RECREATION INC HIGHLAND PARK RECREATION INC 1900 59TH AVE PARCEL 095910307009 GREELEY, CO 80634 ACCOUNT R0036093 YEAR • 2005 - The appraised value of .. PP DroP�Y is based on the appropriate consideration of the approaches to value required by law. The Assessor hasdeteraiined that your property should be included in the following category(ics): .. ..: 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,5re protection,and other special districts)bold 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 availably 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 been made to the valuation of this property. Colorado law requires us to send this notice of denial for all properties on which we do not adjust the value . s .W11,.,- . . r - • PETITIONER'S ' ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE ' OF VALUE ACTUAL VALUE ACTUAL VALUE PRIOR TO REVIEW AFTER REVIEW COMMERCIAL 1333603 1333603 • • • TOTALS $ • 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. RYt Stanley F.Sessions 06/30/2005 1 WELD COUNTY ASSESSOR DATE v ADDITIONAL INFORMATION ON REVERSE SIDE 07/12/05 15:24 FAX WELD ASSESSOR ij uuciuuL 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. • APPEAL PROCEDURES: t 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 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)356-4000 Ext. 4225 NOTIFICATIQN OF HEARING: You will be notified of the time and place set for the hearing of your appeal. COUNTY BOARD OF EQUALIZATION'S DETERMINATION: 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. TAXPAYER RIGHTS FOR FUR UHER 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, Room 315,Denver, Colorado 80203, (303)866-5880. www.dola.colorado.eov/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 12. 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. , 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. Subeof C�n Pdl'} na va kke, h Isar ) 95a 06O 17//3/6 SIUNAIURh OE MINI hit DA76 7 5EL25.:05/2005a3 nn53 n4: t, 9704 . 'b 'bbW HIGHLAND LXa vg ASSOCt—'FS PAGE P 055 Er ' Highland Park Lanes Bridge&Associates 390 Union Lakewood ICO 80228 AUTHORIZATION TO APPEAR BEFORE THE; Phone:303-673-7000 Weld COUNTY ASSESSOR AND THE Fax.303'573-7060 Weld COUNTY BOARD OF EQUALIZATION, THE COLORADO BOARD OF ASSESSMENT APPEALS AND ALL COLORADO STATE COURTS, ON BEHALF OF THE OWNER OF RECORD OF REAL PROPERTY. Highland Park Recreation Inc d/b/a Highland Park Lanes (owner and/or agent) of the owner of real property, ("the Property") located et: 1900 59th Avenue $c(edule No (al 80036093 +and desalted more specifically as: . Parcel ID Na.SO95910307009 do hereby authorize: Bridge&Associates, to represent my interests and to appear on my behalf before the County Assessor,the Weld County Board of Equalization, the Colorado Board of Assessment Appeals and all Colorado state courts, for purposes which arise from any matter(*)concerning the valuation and taxation of the of the Property for tax years 2005 and 2006, and for all previous years as allowed by applicable Colorado law and the rules and regulations of the above-referenced entities. I further authorize Bridge&Assotates to appear as a witness at all formal or informal hearings of the above. Serenest!entities and to testify as to the valuation of the Property and to the accuracy of any raduai documentation submitted on my behalf in connection with the Property. The undersigned requests that copies of all decisions from the Weld County Assessor. the: Weld County Board of Equalization, and the Colorado Board of Assessment Appeals, be mailed to: Bride&Associates, 390 Union Boulevard, Ste 330. Lakewraad.CO 80228. Further,the undersigned expressly revokes all previous authorizations relating to the Property and the subject matters referenced herein. This authorization shall remain in effect until this authorization is terminated rn a written instrument executed by the undersigned.Dated this: / J �/4 w 0-yCompany 4 r t...r /C ad oe2a " t�dry�/Y( 20 OS � Federal Tax IDS/S : STATE OF OAL Z O ) I /1.GO«L'r `� )SS COUNTY OF n N J J ) Phore:91Ge3301S RS Fax: #70-330-139 V swam this: day of ►r Vf'CV witness my hand and official seal. My Commission expir(eea• MY Comm n rp P:...... Isy OTA 9 Notary Publ • ° • • v Address: CENTEN AL BANK OF THE WEST -o 2700 47TH AVENUE N�., •OO • P I (it _ CLERK TO THE BOARD PHONE (970) 356-4000 EXT 4217 FAX: (9 352-0242 WEBSITE: www.co.co.weld.co.us I 915 10TH STREET P.O. BOX 758 C. GREELEY, COLORADO 80632 COLORADO July 19, 2005 HIGHLAND PARK RECREATION INC 1900 59TH AVE GREELEY CO 80634 Parcel No.: 095910307009 Account No.: R0036093 Dear Petitioner(s): The Weld County Board of Equalization has set a date of August 4, 2005, at or about the hour of 9:30 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. HIGHLAND PARK RECREATION INC - R0036093 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 Mitt Donald D. Warden Clerk to the Board cc: Stanley Sessions, Assessor BRIDGE & ASSOCIATES 390 UNION BOULEVARD SUITE 330 LAKEWOOD CO 80228 Hello