HomeMy WebLinkAbout20032322.tiff RESOLUTION
RE: THE BOARD OF EQUALIZATION, 2003, WELD COUNTY, COLORADO - DENY
PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE
PETITION OF:
PACKAGING CORP OF AMERICA
C/O GRANT THORNTON LLP
1717 MAIN STREET SUITE 500
DALLAS, TX 75201
DESCRIPTION OF PROPERTY: ACCOUNT#: P1001996 PARCEL#: 080721423001 -
WIN 1CS1-1 BLK 1 CORNERSTONE SUB 1ST SITUS: 1201 CORNERSTONE DR WINDSOR
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 2003, 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 2003, claiming that the property described in such petition was assessed
too high, as more specifically stated in said petition, and
WHEREAS, said petitioner being represented by Jim Barton, Grant Thornton, LLP, 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 $ 0
Improvements OR
Personal Property 3,882,205
TOTAL $ 3,882,205
2003-2322
AS0055
Cc 45, @4, 4 t1' eiP
RE: BOE - PACKAGING CORP OF AMERICA
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
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
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.
2003-2322
AS0055
RE: BOE - PACKAGING CORP OF AMERICA
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 $150.00 per case. The arbitrator's fees and
expenses, not including counsel fees, are to be paid as provided in the
decision.
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 5th day of August, A.D., 2003.
BOARD OF COUNTY COMMISSIONERS
WE OUNTY, COLORADO
ATTEST:
D vid E. Long, Chair
Weld County Clerk to the Board
Robert D. M en, Pro-Tem
BY: ‘2- �-�
Deputy Clerk to then
AP� !,/J FORM: 'Gt
x+861 f '! Willis H. Jerke
�r Si Co^ a ttorney (9—.4
Glenn Vaad
®elh111--, ;;i
Date of signature: -O09
2003-2322
AS0055
C•Qv 7GC,Z Ociv coo efS 5 33%52 — S of 4o et3�
NOTICE OF DENIAL OFFICE OF COUNTY ASSESSOR
1400 NORTH 17th AVE.
4 le 44
Ili WIN 1CS1-1 BLK 1 CORNERSTONE SUB GREELEY,CO so631
1ST SITUS : 1201 CORNERSTONE DR PHONE(970)3;3-3845,E(T.36e0
3e ' WINDSOR
wilpe
OWNER: PACKAGING CORP OF AMERICA
COLORADO
PACKAGING CORP OF AMERICA LOG 5002
C/O GRANT THORNTON LLP PARCEL 080721423001
1717 MAIN STREET SUITE 500 ACCOUNT P1001996
DALLAS, TX 75201 YEAR 2003
Tax Rep : GRANT THORNTON LLP
The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined that
your property should be included in the following category(ies):
If your concern is the amount of your property tax,local taxing authorities(county,city,fire protection,and other special districts)hold budget
hearings in the fall. Please refer to your tax bill or ask your Assessor for a listing of these districts,and plan to attend these budget hearings.
The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest,and has determined the
valuation(s)assigned to your property. The reasons for this determination of value are:
change has been made to the valuation of this property. Colorado law
quires us to send this notice of denial for all properties on which we do not
adjust the value . UL •
•'
e I v
• .
SHIPPED JUL 1 .$
PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE
OF VALUE ACTUAL VALUE ACTUAL VALUE
PRIOR TO REVIEW AFTER REVIEW
PERSONAL PROP 3882205 3882205
TOTALS $ $ 3882205 $3882205
APPEAL DEADLINES: REAL PROPERTY-JULY IS,PERSONAL PROPERTY-JULY 21.
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-
'06(1)(a),C.R.S. Please see the back of this form for detailed information on filing your appeal.
By: Stanley F. Sessions 07/09/2003
WELD COUNTY ASSESSOR DATE
15-DPT-AR
Form PR-207-87/03 ADDITIONAL INFORMATION ON REVERSE SIDE
YOU HAVE THE RIGHT TO APPEAL THE ASSESS O R'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:
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 15 FOR REAL PROPERTY, AND JULY 21 FOR PERSONAL PROPERTY.
WELD COUNTY BOARD OF EQUALIZATION
915 10th Street, P.O. Box 758
Greeley, Colorado 80632
Telephone (970)356-4000 Ext. 4225
NOTIFICATION 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 and render decisions by August 5.
TAXPAYER RIGHTS 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, Room 315, Denver, Colorado 80203, (303)866-5880.
www.dola.colorado.wov/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 IOU HAVE FILED A TIMELY
APPEAL; THEREFORE, WE RECOMMEND ALL CORRESPONDENCE BE MAILED WITH PROOF
OF MAILING.
PETITION TO THE COUNTY BOARD OF EQUALIZATION
In the space below, please explain why you disagree with the Assessor's valuation. IN ACCORDANCE WITH 39-
8-106(1.5), C.R.S., IF YOU APPEAL INVOLVES REAL PROPERTY, YOU MUST STATE YOUR OPINION
OF VALUE IN TERMS OF A SPECIFIC DOLLAR AMOUNT. Attach additional documents as necessary.
CkSSe55tr'5 ® vcc-E 5 &.\\ V& At kg‘ cf-ma,--ion
V ck-\.tre_ S -1-reD h 1/4 i/\
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DA IL
Grant Thornton let
Accountants and Business Advisors
July 15, 2003
Weld County Board of Equalization
915 10th Street
Greeley, Colorado 80632
RE: Packaging Corporation of America—Denial of Valuation
To the Respective members of the County Board of Equalization:
We are officially appealing our denial of valuation to you, the Weld County Board of
Equalization. The issue in question dates back to the 2002 Personal Property Tax Filing
for Packaging Corporation of America, ("PCA"). Our client, PCA, is engaged in the
manufacturing of corrugated paper. They acquired the stock of the former manufacturer,
Deline, back in the late 1990's. PCA does not own the actual real estate, but merely the
operations (fixed assets, etc.) In prior years, PCA has always reported the historic cost
for these assets when rendering their personal property. However, in 2002, the stock
allocation price was reported on the personal property rendition by mistake. The historic
cost is what should have been reported much like in prior years. We amended the 2002
return to reflect the true and actual costs of these assets. An abatement was granted by
Duane Robson earlier this year for the 2002 filing, and we expected this issue was
finalized.
Chief appraiser, Mike Sampson, did not agree with Duane's decision and decided to
overturn the original abatement agreement we have on file. Instead, a denial letter was
issued and the valuation was again changed back to the stock allocation price.
The stock allocation cost is considerably higher than historic cost. Since PCA did not
buy the real estate from Deline, the purchase price of the stock was allocated over the
fixed assets. Does this make the fixed assets worth more? We argue that simply because
a company sells its stock to another company, does not make the fixed assets worth more.
We believe the fixed assets should be valued beginning at historic cost. This is the cost
Deline paid for the assets, and therefore these are the costs that PCA should use as well.
Although we have appealed the 2002 personal property tax filing, we still do not have a
hearing set to hear this case. In the mean time, the 2003 personal property tax filing is
dealing with these same issues. Our client wishes the have these issues resolved as
quickly as possible.
Suite 500
1717 Main Street
Dallas,TX 75201
T 214.561.2300
F 214.561.2370
W www.grantthornton.com
Grant Thornton LLP
US Member of Grant Thornton International
Grant Thornton
Please find attached an email from the Director of Tax for Packaging Corporation of
America. This email summarizes the Stock purchase from Deline to PCA.
If you have any additional questions, please do not hesitate to call me anytime. We look
forward to working with you to reach a fair and reasonable value.
Thank you for your time.
Sincerely,
" /t
4/' Jeff Mills
Tax Consultant
Mills, Jeffrey
To: Maxey, Patty Jo
Subject: RE: Weld County
Original Message
From: dolivier@packagingcorp.com [mailto:dolivier@packagingcorp.com]
Sent: Thursday, January 23, 2003 2: 16 PM
To: Talaiver, Reuben
Cc: Maxey, Patty Jo
Subject: Re: Weld County
Hi, Reuben & Patty Jo,
We do actually report the historic cost on the Federal Tax return for
this
location. We purchased the stock of this entity, therefore, the
historic
cost/date is used for the Federal Income tax return. We did not have to
amend the Federal return because we properly reported using the tax cost
(historic cost) when filed. I could supply a copy of the Federal tax
return, however, the auditor would struggle to tie this location
individually since we have 85 facilities included on the Federal Return.
We had to amend the Property Tax Return because we provided GAAP values
for
property tax reporting. However, for this facility, we should not have
used GAAP values/dates because it is not a true reflection of the
machinery's vintage year or original cost.
For book purposes, any type of acquisition (asset or stock) results in
the
asset values and dates being changed to the date of acquisition (i.e.
Purchase Accounting under APB16) . Therefore, the GAAP values in the
fixed
asset system will be the year of acquisition (1996) and a value that is
not
original cost (even though the machine's vintage could be 1992, etc. ) .
I hope this helps!
Darla
Reuben.Talaiver@G
T.com To:
DOlivier@packagingcorp.com
cc:
pattyjo.maxey@GT.com
01/23/2003 01:54 Subject: Weld County
PM
1
Hello Darla: -
I got a call today from the assessor's office in Weld. He has several
questions that we are taking care of for him. One question he had that
I
don't know the answer to was if anything amended was sent to the IRS due
to
the historical/original cost issue? I told him I'd get back to him. I
doubt this one location would be material enough to change your Federal
return, but I thought I'd ask.
Thanks,
Reuben Talaiver
Senior Tax Consultant
Grant Thornton, LLP
1717 Main Street, Suite 500
Dallas, Texas 75201
Office Phone: 214-561-2461
Office Fax: 214-561-2370
E-mail: rtalaiver@gt.com
This e-mail is intended solely for the person or entity to which
it
is addressed and may contain confidential and/or privileged information.
Any review, dissemination, copying, printing or other use of this e-mail
by
persons or entities other than the addressee is prohibited. If you have
received this e-mail in error, please contact the sender immediately and
delete the material from any computer.
2
APPRAISAL REPORT
OF
PERSONAL PROPERTY
FOR
COUNTY BOARD OF EQUALIZATION
PACKAGING CORP OF AMERICA
PETITIONER
V.S.
WELD COUNTY ASSESSOR'S OFFICE
RESPONDENT
SCHEDULE NUMBER: P1001996
LOG NUMBER: 5002
DATE: AUGUST 5, 2003
TIME: 9:00AM
BOARD: CBOE
PREPARED BY
DUANE M. ROBSON
Signature Date
ASSESSOR'S OFFICE STAFF APPRAISER
ASSESSOR VALUE
$3,882,205
TABLE OF CONTENTS
2003 Personal Property Filing Pages 3-11
2003 Protest Page 12
2003 Denial Pages 13, 14
2003 Appeal to CBOE Pages 15-17
2002 Original Filing (Summary Sheet) Page 18
2002 Amended Filing (Summary Sheet) Page 19
2002 Additions to the amended filing Pages 20,21
2002 Final Filing (Summary Sheet) Page 22
2002 Correspondence with PCA Pages 23, 24
Grant Thornton T
Accountants and Business Advisors
• VIA Certified Mail#-7002 0510 0003 2958 4365
March 21, 2003
Weld County Assessor
1400 N. 17th Ave.
Greeley, CO 80631
RE: 2003 Personal Property Tax Filings
Dear Assessor:
Please find attached the 2003 renditions for property located in your jurisdiction. The
owner information and account numbers are as follows:
• Packaging Corporation of America—Pin Number P1001996
If you have any questions regarding these renditions or require any additional
information,please do not hesitate to call me at(214) 561-2461.
Sincerely,
Reuben Talaiver
Senior Consultant
•
Suite 500
1717 Main Street
Dallas,TX 75201
T 214.561.2300
F 214.561.2370
W www.grantthomton.com
Grant Thornton LLP
US Member of Grant Thornton International J
MAIL TO: CONFIDENTIAL ASSESSMENT DATE
WELD COUNTY ASSESSOR PERSONAL PROPERTY JANUARY 1
1400 N.17th AVE GREELEY,CO 80631 - DECLARATION SCHEDULE
Phone(970)353-3845 (Confidential Data) DUE DATE APRIL 15
Return This Copy 2003
ASSESSOR'S USE ONLY
PLEASE READ INSTRUCTIONS ON RECEIVED
REVERSE SIDE BEFORE PROCEEDING COMPLETED
SIGN AND RETURN TIllS COPY LATE FILING FEE YES() NO()
PIN NUMBER TA CODE BA CODE PARCEL NUMBER
P1001996 0420 30000 080721423001 1908 1
A. NAME ANDGING SHOW �[`L(�E
PACKAGING CORP OF AMERICA
�iyaJ9, ' ■iJf\
C/O GRANT THORNTON LLP
1717 MAIN STREET SUITE 500 - PREVIOUS OWNER'S NAME&ADDRESS
DALLAS, TX 75201 MAR 3 1 2003
PHYSICAL LOCATION OF THE PERSONAL PROPERTY p }ItiVC $lYNIy�I gl,.ittagIpp�,
AS OF JANUARY 1 ASSESSMENT DATE: SH {, I�L1J LUWIN I TCHJJGJJVF
1201 CORNERSTONE DR WINDSOR rroolo s f`nt.+-^,1'
WIN 1CS1-1 ELK 1 CORNERSTONE SUB
B. BUSINESS:Start Up Date: Square Footage of Business: Product or Service Type:
C. BUSINESS STATUS(Please check the appropriate boxes ONLY). h accordance with 39-3-119.5,C.R.S.,you are not required to file this declaration if the total actual
value(market value)of your personal property per county is$2,500 or less. If you are a first time filer or are unsure as to whether the total actual value of your personal
property per county exceeds$2,500,please contact the county assessor.Whether or not you file a declaration schedule,the Assessor may select your business for an audit.
❑NEW BUSINESS/ORGANIZATION. You must give a complete itemized listing of all personal property. Use the first part of Section D and attach sheet(s)if needed.
❑EXISTING BUSINESS/ORGANIZATION.Indicate ADDITIONS/DELETIONS to property in Section D.
❑NEW OWNER OF PREVIOUSLY EXISTING BUSINESS/ORGANIZATION. You must give a complete itemized listing of all personal property acquired in the
purchase. Include additions made prior to Jan. I since that purchase.
O AS OF JANUARY 1,WERE YOU OUT OF BUSINESS? If yes,complete below:
❑Personal Property Sold . O Personal Property Stored Date Sold/Stored
Name of New Owner of the Personal Property PHONE 0
❑PROPERTY CHANGED LOCATION TO. ON(DATE)
**FOR AN ACCURATE ASSESSMENT,WE MUST HAVE A COMPLETE LISTING OF PERSONAL PROPERTY.**
D. LISTING OF PERSONAL PROPERTY: Note:Include ALL Expensed Assets With a Life of Greater Than 1 Year,Fully Depreciated Assets Still in Use, and
Stored Assets That Are Subject to IRS Depreciation. LIST ALL PERSONAL PROPERTY ACQUIRED PRIOR TO JANUARY I. ATTACH SEPARATE SHEET(S)IF NEEDED.
ITEM YEAR COMPLETE DESCRIPTION INCLUDING YOUR ORIGINAL FACTOR/ SPECIFY ITEM: MONTH&
I.D. ACQUIRED MODEL OR CAPACITY INSTALLED COST LIFE NEW OR USED YEAR FIRST
PLACED INTO
NO.
SERVICE
000001 1996 COMPUTER EQUIPMENT 52,090.0 13/3
000002 1998 COMPUTER EQUIPMENT 7 .00 13/3
000003 2000 COMPUTER EQUIPMENT ,205.00 13/3
000004 2001 COMPUTER EQUIPMENT 14,165.00 13/3
000005 1996 TURN & FIX 59,275.00 3/10
000006 1997 FURN & X 6,452.00 3/10
000007 1996 MACHINERY & IPMEN 7,849,436.00 11/10
000008 1997 NACHI EQUIPMEN 23,096.00 11/10
000009 1998 MAC Y & EQUIPMEN 137,739.00 11/10
000010 1999 CHINERY & EQUIPMEN 6,134.00 11/10 '
•
000011 MACHINERY & EQUIPMEN 78,402.00 11/10
000012 2001 MACHINERY & EQUIPMEN 85,709.00 11/10
•
Please See Attached
IF NO ADDITIONS OR DELETIONS CHECK HERE ( )
THIS RETURN IS SUBJECT TO AUDIT •
I. "I declare.undo pe pemlryerir
orpy is the room,der.Owlbu sWdule,'SNxr with ta
asy ....Yin abibiu or summi mantel
summits.Ms been mael by me and a the bee of my knowledge.inknmliob and belief m get a Ml,M complete lie°fall taxable
Pawl's' ew'se4 by me or is mY poaasion or under ab'mases,samei in this easey.Colmar&on the aneamea thee orals year;lino suer property has been reasonably descnEed end its value fairly represented:and the no sewnµ lour boned
ro mislead the maw as n its agn gmry%►�@annrry,o/��mlu -1
�e9-55.50712)) P4. /
SIGNATURE OF OWNER OR AGENT/n'Yuwrs( 7 .- -_. DATE 3/2-I/o 3 PHONE a"1-S / — 2-H 6 I
PRINT NAME OF PERSON SIGNING Rat RPM/ ri(...qiiin NAME OF OWNER
SOCIAL SECURITY NUMBER FEDERAL EMPLOYER IDENTIFICATION NUMBER
•
Mail to: • CONFIDENTIAL A SSESSMENT DATE
Weld Cowley Assessor BUSINESS PERSONAL PROPERTY JA NUARY 1
1400 N 17th Ave Greeley,CO 80631 DECLARATION SCHEDULE
Phone(970)353-3845 Page 2
2003 ASSESSORS USE ONLY
PLEASE READ INSTRUCTION ON RECEIVED
REVERSE SIDE BEFORE PROCEEDING
SIGN AND RETURN HIS COPY COMPLETED
/� (( LATE FILING FEE YES()NO()
NAME PO.-\t(.Ltl tf\(• C pOf` SLOtf\- Of 1�y�Vv e& C lac
MAILING
ADDRESS 1 711 YlAdtvk 5-i. 6"1-[ 5 b4(_L_(+_5 7x 75-.2O1
STREET t CITY STATE ZIP CODE
PIN NUMBER TA CODE BA CODE PARCEL NUMBER
E. UNLICENSED MOBILE EQUIIMENT Do not list licensed vehicles,mobile equipment rith SMM license plates,rental decals,or z-tabs.
0 Check here and complete this section if there is any unlicensed mobile equipment at this location.
Item Description Including Model or Capacity Year Acquired Check new or used for each Your Orignial Year in Use
ID No. item: Installed Cost
ONew 0 Used
ONew 0 Used
1
ONew O Used
ONew O Used
F.GENERAL LEDGER DO NOT USE FISCAL YEAR BALANCES. DO NOT LIST MOBILE EQUIPMENT WITH SMM LICENSE PLATES.RENTAL DECALS,OR 2-TARS.
(Original Walled tests only)
FURNITURE MACHINERY/ CAPITALIZED ELECTRONIC COMPUTERS SIGNS ALL
EQUIPMENT MOBILE EQUIP OFFICE EQUIP OTHER
BALANCE JANUARY I.2002
BALANCE JANUARY 1,2003
G.Cost of expensed and other fully Attach a copy of your latest detailed Depreciation Schedule from your financial records. If you provide IRS
depreciated assets still in use. Form 4562 or 4562-A,you MUST provide an itemized list of all property with description and cost of each
$ item,including all personal property which is expensed. •
H.LEASED,LOANED,OR RENTED IROPERTY(FURNITURE,SIGNS,ETC)DECLARE PROPERTY OWNED BY OTHERS HERE.
Ell you poisoned any leased,loaned,or rented machinery,equipment,furniture,signs,vending machines,etc.on January lat.Check here.
List below,showing owner's name,address,and telephone number,property description;etc. If any of the leased equipment listed is capitalized on your books and records,please check the box
at the beginning of the line corresponding with the name of the Lessor.
Owner/Lessor's Name,Address,Tele.No. Description including Model/Serial Cost of Lease Lease number Term(from-to) Annual S
Number Rent
❑ Yv .'ROk C-opUr5' _
O
c
0 If purchase or maintenance options are included in the total annual S rent shown above,check here and furnish details.
I. DECLARATION
THIS RETURN IS SUBJECT TO AUDIT
'I declare under the amity of ptrieryla the second de*ee. In this sebedolo toanher WU ray eceompmylag exhibits or ateleweols.has bee.easmieed by me end to the test ermy koonledae.Informatioc sad belie[sets bra a full and
complete list tired tenable permed property owned be me.or in my poo yslos.or wader mycoetrol,lotted la ibis toasty,Coloreds on the assessment dale adds year;due such propertyku bees renowby described od III slue hirlr
represented;sod that no ntempt In beta made to mine as to sae,goailpyr..us ,or ohm."39.5.107(5),CRS.
SIGNATURE OF OWNER OR AGENT NAME OF OWNER P K44/A/6 6aQJOQQeljt0ev Ott'AIM evrE 37 R. 7/Q3
PRINT NAME OF PERSON SIGNING Rea a(7-1 444/1451 PHONE NUMBER(,2.1if) sc 1 2 kI 6 f
PLEASE COMPLETE,SIGN AND RETURN TO THE ASSESSOR ON OR BEFORE APRIL IS,2003
KEEP ONE COPY FOR YOUR RECORDS
. 5
Plant 387
1201 Cornerstone Drive
Windsor, Co.
Asset Asset % Appr Ass Ass
Category Year Class Cost Good Value % Value
Computer Equipment 2001 Total CE $14,165 39% $5,524 29% $1,602
Computer Equipment 2000 Total CE $285,205 17% $48,485 29% $14,061
Computer Equipment 1998 Total CE $7,623 15% $1,143 29% $332
Computer Equipment 1996 Total CE $7,156 15% $1,073 29% $311
Computer Equipment 1995 Total CE $16,021 15% $2,403 29% $697
Computer Equipment 1993 Total CE $35,581 15% $5,337 29% $1,548
Furniture&Fixtures 1996 Total FF $18,530 44% $8,153 29% $2,364
Furniture&Fixtures 1993 Total FF $3,100 23% $713 29% $207
Furniture&Fixtures 1992 Total FF $19,143 15% $2,871 29% $833
Furniture&Fixtures 1991 Total FF $11,374 15% $1,706 29% $495
Machinery&Equipment 2002 Total ME $229,301 93% $213,250 29% $61,842
Machinery&Equipment 2001 Total ME $85,709 85% $72,852 29% $21,127
Machinery&Equipment - 2000 Total ME $78,402 77% $60,369 29% $17,507
Machinery&Equipment 1999 Total ME $6,393 69% $4,411 29% $1,279
Machinery&Equipment 1998 Total ME $143,428 61% $87,491 29% $25,372
Machinery&Equipment 1997 Total ME $13,850 52% $7,202 29% $2,089
Machinery&Equipment 1996 Total ME $338,579 44% $148,975 29% $43,203
Machinery&Equipment 1995 Total ME $32,277 36% $11,620 29% $3,370
Machinery&Equipment 1994 Total ME $33,734 29% $9,783 29% $2,837
Machinery&Equipment 1993 Total ME $439,030 23% $100,977 29% $29,283
Machinery&Equipment 1992 Total ME $199,948 15% $29,992 29% $8,698
Machinery&Equipment 1991 Total ME $960,542 15% $144,081 29% $41,784
Machinery&Equipment 1990 Total ME $182,836 15% $27,425 29% $7,953
Machinery&Equipment 1989 Total ME $3,511,983 15% $526,797 29% $152,771
Machinery&Equipment 1988 Total ME $53,200 15% $7,980 29% $2,314
Grand Total $6,727,110 $1,530,617 $443,879
Grant Thornton LLP Confidential 3/21/2003 Page 1
%\
Plant 387
1201 Cornerstone Drive
Windsor, Co.
Plant:387 Asset % Appr Ass Ass
Asset ID Description Year Class Cost Good Value % Value
1200086 CFM SALES REP LAPTOP COMPUTERS 2001 CE $2,833 39% $1,105 29% $320
1200087 CFM SALES REP LAPTOP COMPUTERS 2001 CE $2,833 39% $1,105 29% $320
1200088 CFM SALES REP LAPTOP COMPUTERS 2001 CE $2,833 39% $1,105 29% $320
1200089 CFM SALES REP LAPTOP COMPUTERS 2001 CE $2,833 39% $1,105 29% $320
1200090 CFM SALES REP LAPTOP COMPUTERS 2001 CE $2,833 39% $1,105 29% $320
2001 Total $14,165 $5,524 $1,602
1099749 CIMS-lI HARDWARE/INFRASTRUCTURE 2000 CE $285,205 17% $48,485 29% $14,061
2000 Total $285,205 $48,485 $14,061
1092095 COMPUTER FOR GM 1998 CE $5,101 15% $765 29% $222
1092094 LAPTOP FOR SALES REP. 1998 CE $2,522 15% $378 29% 110
1998 Total $7,623 $1,143 $332
1091109 TOSHIBA PO 1996 CE $5,247 15% $787 29% $228
1091116 CHECK SIGN 1996 CE $1,618 15% $243 29% $70
1091113 TOSHIBA CD 1996 CE $291 15% $44 29% $13
1996 Total $7,156 $1,073 $311
1090809 LANTECH ST 1995 CE $12,645 15% $1,897 29% $550
1091102 LASER PRNTR 1995 CE $2,118 15% $318 29% $92
1091105 VISIONTEK 1995 CE $1,258 15% $189 29% 1.5.E
1995 Total $16,021 $2,403 $697
1082348 LASERPOINT 1993 CE $35,581 15% 5337 29% $1,548
1993 Total $35,581 $5,337 $1,548
1091144 OFFICE FURN 1996 FF $6,452 44% $2,839 29% $823
1091123 OFFICE FURN 1996 FF $2,992 44% $1,316 29% $382
1091132 3 CREDENZA 1996 FF $2,631 44% $1,158 29% $336
1091134 3 DESK 1996 FF $2,406 44% $1,059 29% $307
1091135 4 STEEL CA 1996 FF $2,165 44% $953 29% $276
1091137 6 SIDE CHA 1996 FF $1,883 44% $828 29% $240
1996 Total $18,530 $8,153 $2,364
Grant Thornton LLP Confidential 3/21/2003 Page 1
_ Plant 387
1201 Cornerstone Drive
Windsor, Co.
{r
fit'
Plant:387 Asset Y. Appr Ass Ass
Asset ID Description Year Class Cost Good Value % Value
1082346 ZEROX FACS 1993 FF $3,100 23% $713 29% 207
1993 Total $3,100 $713 $207
1082343 STEELCASE 1992 FF $19,143 15% $2,871 29% $833
1992 Total $19,143 $2,871 $833
1082319 CUBICALS& 1991 FF $11,374 15% $1,706 29% $495
1991 Total $11,374 $1,706 $495
1200338 AUTOBOX MACHINE 2002 ME $186,543 93% $173,485 29% $50,311
1200339 SINGLE FACER PRESSURE ROLL 2002 ME $26,226 93% $24,390 29% $7,073
1200246 REGRIND CORRUGATING ROLLS 2002 ME $16,531 93% $15,374 29% $4,459
2002 Total $229,301 $213,250 $61,842
1200146 SIMAUTICS GLUE SYSTEM 2001 ME $59,380 85% $50,473 29% $14,637
1200124 BATTERY HANDLING SYSTEM 2001 ME 526.329 85% $22,379 29% $6,490
2001 Total $85,709 $72,852 $21,127
1099274 KONGSBERG SAMPLE TABLE 2000 ME $78,402 77% $60,369 29% $17,507
2000 Total $78,402 $60,369 $17,507
1094838 PVA FOAMING UNIT 1999 ME $6,393 69% $4,411 29% $1,279
1999 Total $6,393 $4,411 $1,279 _.
1093708 PVA FOAMING UNIT 1998 ME $92,223 61% $56,256 29% $16,314
1092093 BULK ADHESIVE STORAGE TANK 1998 ME $51,206 61% $31,235 29% $9,058
1998 Total $143,428 $87,491 $25,372
1091143 BUNN TYERS 1997 ME $13,850 52% $7,202 29% $2,089
1997 Total $13,850 $7,202 $2,089
1091124 ASITRADE 1996 ME $184,388 44% $81,131 29% $23,528
1091125 CONVEYING 1996 ME $37,055 44% $16,304 29% $4,728
Grant Thornton LLP Confidential 3/21/2003 Page 2
Plant 387
1201 Cornerstone Drive
Windsor, Co.
as 5.E _Y
'a-- 555451555,45t,S5
Plant:387 - Asset V. Appr Ass Ass
Asset ID Description Year Class Cost Good Value % Value
1091112 MOISTURE M 1996 ME $27,013 44% $11,886 29% $3,447
1091126 BALER 1996 ME $15,439 44% $6,793 29% $1,970
1091115 E FLUTE CO 1996 ME $13,350 44% $5,874 29% $1,703
1091127 AIR COMPR 1996 ME $13,308 44% $5,856 29% $1,698
1091108 KB 20 HOT 1996 ME $12,522 44% $5,510 29% $1,598
1091128 BANDS SAW H 1996 ME $10,091 44% $4,440 29% $1,288
1091146 DOUBLE SCO 1996 ME $9,246 44% $4,068 29% $1,180
1091110 SCISSOR LI 1996 ME $7,500 44% $3,300 29% $957
1091114 E FLUTE CO 1996 ME $6,750 44% $2,970 29% $861
1091136 24 STACKER 1996 ME $1,918 44% $844 29% $245
1996 Total $338,579 $148,975 $43,203
1091093 SULLAIR AI 1995 ME $13,709 36% $4,935 29% $1,431
1091106 CONVEYOR F 1995 ME $10,167 36% $3,660 29% $1,061
1090812 CONVEYOR F 1995 ME $8,401 36% $3,024 29% $877
1995 Total $32,277 $11,620 $3,370
1086662 ASITRADE P 1994 ME $32,269 29% $9,358 29% $2,714
1083867 2 DESK 2 DR 1994 ME $1,465 29% $425 29% 123
1994 Total $33,734 $9,783 $2,837
1082349 S FACE& 1993 ME $359,850 23% $82,766 29% $24,002
1082350 F-FLUTE RO 1993 ME $79,180 23% $18,211 29% $5,281
1993 Total $439,030 $100,977 $29,283
1082342 MARQUIP IM 1992 ME $92,497 15% $13,875 29% $4,024
1082337 SERCO SPLI 1992 ME $52,543 15% $7,881 29% $2,286
1082341 CHASE LOAD 1992 ME $31,993 15% $4,799 29% $1,392
1082340 DOMINO DEL 1992 ME $13,767 15% $2,065 29% $599
1082339 FGLUER NON 1992 ME $9,148 15% $1,372 29% $398
1992 Total $199,948 $29,992 $8,698
1082324 BOBST SPU 1991 ME $722,506 15% $108,376 29% $31,429
1082322 LASERCOMB 1991 ME $65,724 15% $9,859 29% $2,859
Grant Thornton LLP Confidential 3/21/2003 Page 3
Plant 387
1201 Cornerstone Drive
Windsor, Co.
a LL4
k ' c
t r
Plant:387 Asset % Appr Ass Ass
Asset ID Description Year Class Cost Good Value % Value
1082325 ADD SCRAP 1991 ME $63,001 15% $9,450 29% $2,741
1082326 ADDITION E 1991 ME $31,900 15% $4,785 29% $1,388
1082329 LASERCOMB 1991 ME $25,658 15% $3,849 29% $1,116
1082327 NISSAN FO 1991 ME $20,678 15% $3,102 29% $899
1082323 NISSANFO 1991 ME $17,495 15% $2,624 29% $761
1082330 INTERLAKE 1991 ME $12,159 15% $1,824 29% $529
1082331 6 BURGUNDY 1991 ME $1.421 15% $213 29% $62
1991 Total $960,542 $144,081 $41,784
1082315 EASYPRESS 1990 ME $117,656 15% $17,648 29% $5,118
1082317 GLUE SYST 1990 ME $38,180 15% $5,727 29% $1,661
1082318 BOBST READ 1990 ME $27.000 15% $4,050 29% $1,175
1990 Total $182,836 $27,425 $7,953
1082299 ASITRADE 1989 ME $1,508,028 15% $226,204 29% $65,599
1082291 SPI600 1989 ME $1,133,836 15% $170,075 29% $49,322
1082292 DOMINO FOL 1989 ME $544,058 15% $81,609 29% $23,667
1082296 TRANSCOR S 1989 ME $74,837 15% $11,226 29% $3,255
1082300 CLAYTON El 1989 ME $66,779 15% $10,017 29% $2,905
1082301 NISSAN FO 1989 ME $43,204 15% $6,481 29% $1,879
1082298 DONAHUE/VP 1989 ME $41,114 15% $6,167 29% $1,788
1082293 LASERCOMB 1989 ME $37,446 15% $5,617 29% $1,629
1082311 SPIRAL STR 1989 ME $12,829 15% $1,924 29% $558
1082309 JIG KING D 1989 ME $10,650 15% $1,598 29% $463
1082285 BLACKHAWK 1989 ME $10,378 15% $1,557 29% $451
1082290 KITS FROM 1989 ME $9,193 15% $1,379 29% $400
1082283 SCORE BOAR 1989 ME $8,641 15% $1,296 29% $376
1082286 BLACKHAWK 1989 ME $8,437 15% $1,266 29% $367
1082287 C8H 3 NEW 1989 ME $1,291 15% $194 29% $56
1082310 GERARD HAN 1989 ME $1.262 15% $189 29% 151
1989 Total $3,511,983 $526,797 $152,771
Grant Thornton LLP Confidential 3/21/2003 Page 4
�0J/
Plant 387 •
1201 Cornerstone Drive
Windsor, Co.
T�yYY
aCe ^3,
Plant:387 Asset % Appr Ass Ass
Asset ID Description Year Class Cost Good Value % Value
1082281 SHREDDER 1988 ME $29,200 15% $4,380 29% $1,270 1082282 KWIK DIE C 1988 ME 124,000 15% $3,600 29% $1.044
1988 Total $53,200 $7,980 $2,314
Grand Total $6,727,110 $1,530,617 $443,879
•
Grant Thornton LLP Confidential 3/21/2003 Page 5
NOTICE OF VALUATION 124871
PERSONAL PROPERTY
LEGAL DESCRIPTION: This Is Not a Tax Bill Stanley F. Sessions
WIN 1CS1-1 BLK 1 CORNERSTONE SUB 1ST SI Weld County Assessor
TUS: 1201 CORNERSTONE DR WINDSOR 1400 N. 17thO 80631 Avenue
Greeley, C
Date: 06/16/03
HEARING DATES: 06/16/03 -07/07/03
LOCATION: 1400 N 17TH AVENUE
OFFICE HOURS: 8:30-4:30
PACKAGING CORP OF AMERICA TELEPHONE NO: (970) 353-3845 x-3650
C/O GRANT THORNTON LLP FAX NO: (970) 304-6433
1717 MAIN STREET SUITE 500
DALLAS,TX 75201
TAX YEAR: 2003
TAX AREA: 0420
PARCEL NO:080721423001
ACCOUNT NO: P1001996
PROPERTY PRIOR YEAR CURRENT YEAR INCREASE/
CLASSIFICATION ACTUAL VALUE ACTUAL VALUE DECREASE
PERSONAL PROP 4602682 3882205 -720477
1 RECEIVED JUN 1 7 2001
TOTAL 4602682 3882205 -720477
hD c '\v Parcel# 080721423001
Account # P1001996
To appeal by mail, list your name, address, and phone#below, detach the lower portion of this notice
and mail in accordance with instructions on the reverse side to:
Weld County Assessor
1400 N. 17th Avenue, Greeley, CO 80631
An assessment percentage will be applied to the actual value of your property before taxes are
calculated. Personal property is assessed at 29% of actual value (39-1-104(1), C.R.S.).
Your personal property was valued as it existed on January 1 of the current year. The "current year
actual value" represents the actual value of your property as of the appraisal date. 39-1-104(12.3)(a), C.R.S.
The appraisal date is June 30, 2002. The tax notice you receive next January will be based on this value.
DOCUMENTATION - REASON FOR REQUESTING A REVIEW:
�!{p elf
{f_ OR ups P elf/rim,*
.7-/1.'$ va/.0 t')6
11170 MAIN STRE SUITE 75 500 AO /shin IA r ;n u Zoe, �6.-irJ 4
At.1.AS, �a f„(
Verification: I the undersigned state the information and facts contained herein to be true to the best of my
knowledge regarding the property.
Signature: e .11,42a Ovine Date: 6-/7-
Address: .to ,Q.,ove Daytime Phone #:(21(1) Sao?-tar
(a
•
•
NOTICE OF DENIAL OFFICE OF COUNTY ASSESSOR
1400 NORTH 17COh AVE,
WIN 1CS1-1 BLK 1 CORNERSTONE SUB GREELEY,c 80631631
411t41114 WIT SITUS : 1201 CORNERSTONE DR PHONE(970)3533845,EXT.3650
WINDSOR
LO DO OWNER: PACKAGING CORP OF AMERICA
A .
PACKAGING CORP OF AMERICA LOG 5002
C O GRANT THORNTON LLP PARCEL 080721423001
1 17 MAIN STREET SUITE 500 ACCOUNT P1001996
DALLAS, TX 75201 YEAR 2003
Tax Rep : GRANT THORNTON LLP
The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined that
your property should be included in the following category(ies):
If your concern is the amount of your property tax,local taxing authorities(county,city,fire protection,and other special districts)hold budget
hearings in the fall. Please refer to your tax bill or ask your Assessor for a listing of these districts,and plan to attend these budget hearings.
The Assessor has carefully studied all available information,giving particular attention to the specifics included on your protest,and has determined the
valuation(s)assigned to your property. The reasons for this determination of value are:
No 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 .
PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE
OF VALUE ACTUAL VALUE ACTUAL VALUE
PRIOR TO REVIEW AFTER REVIEW
PERSONAL PROP • 3882205 3882205
TOTALS $ $ 3882205 $ 3882205
APPEAL DEADLINES: REAL PROPERTY-JULY 15,PERSONAL PROPERTY-JULY 21.
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 tiling your appeal.
By: Stanley F. Sessions 07/09/2003
WELD COUNTY ASSESSOR DATE
I5-DPT-AR
Form M207-87/03 ADDITIONAL INFORMATION ON REVERSE SIDE
•
•
NOTICE OF DENIAL OFFICE OP COUNTY ASSESSOR
1400 NORTH 17th AVE.
WIN 1CS1-1 BLK 1 CORNERSTONE SUB PHONE(97o)3sG 3384REELEY,CO836s0 1ST SITUS : 1201 CORNERSTONE DR
WINDSOR 0631
•
Wei`D C. OWNER: PACKAGING CORP OF AMERICA '
COLORADO
GRANT THORNTON LLP LOG 5002
1717 MAIN STREET PARCEL 080721423001
SUITE 500 ACCOUNT P1001996
DALLAS, TX 75201 YEAR 2003
Owner: PACKAGING CORP OF AMERICA
•
The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined that
your property should be included in the following category(ies):
•
If your concern is the amount of your property tax,local taxing authorities(county,city,fire protection,and other special districts)hold budget
hearings in the fall. Please refer to your tax bill or ask your Assessor for a listing of these districts,and plan to attend these budget hearings.
The Assessor has carefully studied all available information,giving particular attention to the specifics included on your protest,and has determined the
valuation(s)assigned to your property. The reasons for this determination of value are:
No change has been made to the valuation of this propert . Colorado law
requires us to send this notice of denial for all properties on which we do not
adjust the value .
•
PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE
OF VALUE ACTUAL VALUE ACTUAL VALUE
PRIOR TO REVIEW AFTER REVIEW
PERSONAL PROP 3882205 . 3882205
•
TOTALS $ $ 3882205 $ •
3882205
APPEAL DEADLINES: REAL PROPERTY-JULY 15,PERSONAL PROPERTY-JULY 21.
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.
By: StanleyF.Sessions 07/09/2003
WELD COUNTY ASSESSOR DATE
1S-DPT-AR •
Form'pR-207-87A3 ADDITIONAL INFORMATION ON REVERSE SIDE ((ff
• � �f�i � iv 1••ni P
aT:r Grant Thornton
Accountants and Business Advisors
zip) JUL 21 P11 12: 13
July 15, 2003
.=,i\ ir-
REC7,
Weld County Board of Equalization ..
915 10th Street
Greeley, Colorado 80632
RE: Packaging Corporation of America—Denial of Valuation
To the Respective members of the County Board of Equalization:
We are officially appealing our denial of valuation to you, the Weld County Board of
Equalization. The issue in question dates back to the 2002 Personal Property Tax Filing
for Packaging Corporation of America, ("PCA"). Our client, PCA, is engaged in the
manufacturing of corrugated paper. They acquired the stock of the former manufacturer,
Deline, back in the late 1990's. PCA does not own the actual real estate, but merely the
operations (fixed assets, etc.) In prior years, PCA has always reported the historic cost
for these assets when rendering their personal property. However, in 2002, the stock
allocation price was reported on the personal property rendition by mistake. The historic
cost is what should have been reported much like in prior years. We amended the 2002
return to reflect the true and actual costs of these assets. An abatement was granted by
• Duane Robson earlier this year for the 2002 filing, and we expected this issue was
finati7ed.
Chief appraiser, Mike Sampson, did not agree with Duane's decision and decided to
overturn the original abatement agreement we have on file. Instead, a denial letter was
issued and the valuation was again changed back to the stock allocation price.
The stock allocation cost is considerably higher than historic cost. Since PCA did not
buy the real estate from Deline, the purchase price of the stock was allocated over the
fixed assets. Does this make the fixed assets worth more? We argue that simply because
a company sells its stock to another company, does not make the fixed assets worth more.
We believe the fixed assets should be valued beginning at historic cost. This is the cost
Deline paid for the assets, and therefore these are the costs that PCA should use as well.
Although we have appealed the 2002 personal property tax filing, we still do not have a
hearing set to hear this case. In the mean time, the 2003 personal property tax filing is
dealing with these same issues. Our client wishes the have these issues resolved as
quickly as possible.
Suite 500
1717 Main Street
Dallas,TX 75201
T 214.561.2300
F 214.561.2370
' /
W www.grantthomton.com S
Grant Thornton LLP
Grant Thornton it
- Please find attached an email from the Director of Tax for Packaging Corporation of
America. This email summarizes the Stock purchase from Deline to PCA.
If you have any additional questions, please do not hesitate to call me anytime. We look
forward to working with you to reach a fair and reasonable value.
Thank you for your time.
Sincerely,
Jeff Mills
Tax Consultant
1 (
, C.Q4.,j-• e c
` 7o�- os o ID oc3 ;t.elc9 S3'82_ .- c,-.7#o etc
NOTICE OF DENIAL OFFICE OF COUNTY ASSESSOR
1400 NORTH 17th A JE.
A
c WIN 1CS1-1 ELK 1 CORNERSTONE SUB GRFFI FY,CO 80631
OS - PHONE(970)353-3845,EXT.3630
�' 1ST SITUS : 1201 CORNERSTONE DR II lie WINDSOR
OWNER: PACKAGING CORP OF AMERICA •
COLORADO
PACKAGING CORP OF AMERICA LOG 5002
C/O GRANT THORNTON LLP PARCEL 080721423001
1717 MAIN STREET SUITE 500 ACCOUNT P1001996
DALLAS , TX 75201 . YEAR 2003
Tax Rep : GRANT THORNTON LLP
The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined that
your property should be included in the following category(ies):
If your concern is the amount of your property tax,local taxing authorities(county,city,fire protection,and other special districts)hold budget
hearings in the fall. Please refer to your tax bill or ask your Assessor for a listing of these districts,and plan to attend these budget hearings.
The Assessor has carefully studied all available information, eiving 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:
change has been made to the valuation of this property. Colorado law
-..:quires us to send this notice of denial for all properties on which we do not
adjust the value . 10
. .. v Z
. lateI Ll
.. SHiPPED JUL 1.$ l
•
, PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE
OF VALUE ACTUAL VALUE ACTUAL VALUE
PRIOR TO REVIEW AFTER REVIEW
PERSONAL PROP • 3882205 3882205
•
TOTALS $ $ 3882205 $3882205
APPEAL DEADLINES: REAL PROPERTY-JULY 15,PERSONAL PROPERTY-JULY 21.
If you disagree with the Assessor's decision,you have the right to appeal to the County Board of Equalization for further consideration;p-8-
106(1)(a), C.R.S. Please see the back of this form for detailed information on filing your appeal.
By: Stanley F.Sessions 07/09/2003
WELD COUNTY ASSESSOR DATE
15-DPT-AR
Form PR-207-87,03 ADDITIONAL INFORMATION ON REVERSE SIDE /"9
•
Packaging Corporation of Rendition Summary Windsor, Colorado
America 12/31/2001 Plant# 387
Acct# P1001996
w
T1
d .
�, �p
Ass Ass
Equipment Category Year Cost %Good Value Ratio Value
Computer Equipment 2001 Total $14,165.00 68.00% $9,632.20 29.00% $2,793.34
Computer Equipment 2000 Total $285,204.85 r 39.00% $111,229.89 29.00% $32,256.67
Computer Equipment 1998 Total $7,512.66 15.00% $1,126.90 29.00% $326.80
Computer Equipment 1996 Total $52,089.72 15.00% $7,813.46 29.00% $2,265.90
Furniture&Fixtures 1997 Total $6,452.44 61.00% $3,935.99 29.00% $1,141.44
Furniture&Fixtures 1996 Total $59,274.80 52.00% $30,822.90 29.00% $8,938.64
Machinery&Equipment 2001 Total $85,708.52 93.00% $79,708.92 29.00% $23,115.59
Machinery&Equipment 2000 Total $78,401.82 85.00% $66,641.55 29.00% $19,326.05
Machinery&Equipment 1999 Total $6,134.21 77.00% $4,723.34 29.00% $1,369.77
Machinery&Equipment 1998 Total $137,738.64 69.00% $95,039.66 29.00% $27,561.50
Machinery&Equipment 1997 Total $23,095.77 61.00% $14,088.42 29.00% $4,085.64
Machinery&Equipment 1996 Total $7,849,436.37 52.00% $4,081,706.91 29.00% $1,183,695.00
Grand Tot-I $8,605,214.80 $4,506,470.14 $1,306,876.34
Grant Thornton, LLP Confidential 4/14/2002 Page 1 /
Packaging Corporation of America Amended Rendition Summary 12/31/2001 Windsor, Colorado •
Acct # P1001996 Plant # 387
4-ri t 1 f 7..
3
Y -:
' r4 h
.1< Y 3 <'+4.Ysb L r er
. Equipment Ass Ass
Year Class Cost %Good Value Ratio Value
2001 Total CE $14,165.00 68 00% $9,632.20 29.00% $2,793.34
2000 Total CE $285,204.85 39.00% $111,229.89 29.00% $32,256.67
1998 Total CE $7,623.08 15.00% $1,143.46 29.00% $331.60
1996 Total CE $7,156.00 15.00% $1,073.40 29.00% $31129
1995 Total CE $16,021.00 15.00% $2,403.15 29.00% $696.91
1993 Total CE $35,581.00 15.00% $5,337.15 29.00% $1,547.77
1996 Total FF $2,992.00 52.00% $1,555.84 29.00% $451.19
1993 Total FF $3,100.00 29.00% $899.00 29.00% $260.71
1992Total FF $19,143.00 23.00% $4,402.89 29.00% $1,276.84
1991 Total FF $11,374.00 15.00% $1,706.10 29.00% $494.77
2001 Total ME $85,708.52 93.00% $79,708.92 29.00% $23,115.59
2000 Total ME $78,401.82 85.00% $66,641.55 29.00% $19,326.05
1999 Total ME $6,393.18 77.00% $4,922.75 29.00% $1,427.60
1998 Total ME $143,428.11 69.00% $98,965.40 29.00% $28,699.96
,.1996 Total ME $68,600.00 52.00% $35,672.00 29.00% $10,344.88
1995 Total ME $19,988.00 44.00% $8,794.72 29.00% $2,550.47
Cl) 1994 Total ME $32,269.00 36.00% $11,616.84 29.00% $3,368.88
J 1993 Total ME $439,030.00 29.00% $127,318.70 29.00% $36,922.42
1992 Total ME $199,948.00 23.00% $45,988.04 29.00% $13,336.53
1991 Total ME $1,039,028.00 15.00% $155,854.20 29.00% $45,197.72
1990 Total ME $155,836.00 15.00% $23,375.40 29.00% $6,778.87
r,,,, 1969 Total ME $3,548,219.00 15.00% $532,232.85 29.00% $154,347.53
1988 Total ME $53,200.00 15.00% $27,664.00 29.00% $8,022.56
Mi
l
6 Grand Total $6,272,409.56 $1,358,138.45 $393,860.15
l+l
O
---.. Grant Thornton, LLP Confidential 1/13/2003 Page 1
• FEE. 7.2003 4:57PM 214 561 2363 NO.206 P.1
Grant Thornton LLP
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• Gran:Thomion International
1717 Mein Skeet Bulb 500
Dallas Texas 75201
214 551-2300 Dial
214.561-2370 Fax
Grant Thornton
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• FEB. 7.2003 4:59PM 214 561 2363 NO.206 P.2
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Equipment Ass . Ass
Asset ID Description Year Class Cost -%Good Value Ratio Value
91;•4091144 OFFICE FURN'•1997 FF $ 6,452,44 61.00% $ 3,935.99 29.00% S 1,141.44
' 51091132 3 CREDENZA 1996 ,/ FF $ 2,831.21 52.00% 5 1,368.23 29.00% 5 396.79
1091134 3 DESK 1996 �� S FF $ 2,406.31 52.00% $ 1,251.28 29.00% $ 362.87
(�`1091135 4 STEEL CA 1996 FF 5 2165.04 52.00% $ 1,125.82 29.00% $ 326.49
1091137 6 SIDE CHA 1996 FF $ 1,882.62 52.00% $ 978.96 29.00% $ 283.90
0011
.(1091143 BUNN TYERS 1997 ME $ 13,850.15\j 61.00% $ 8,448.59 29.00% $ 2,450.09
11091146 DOUBLE SCO 1997 ME $ 9,245.62/ 61.00% $ 5,639.83 29.00% $ 1,635.55
1091124 ASITRADE'- 1996 ME $ 164,387.63` 52.00% $ 95,881.57 29.00% $ 27,805.65
1091125 CONVEYING 1996 ME $ 37,055.24 y,, 52.00% $ 19,268.72 29.00% $ 5,587.93
1091126 BALER--- 1996 ME 5 15,438.63 vl 52.00% $ 8,026.09 29.00% $ 2,328.15
1091127 AIR COMPR^ 1996 ME $ 13,308.13 N 52.00% $ 6,920.23 29.00% $ 2,006.87
1091128 BANDS SAW H"1996 ME $ 10,091.24 ≥ 52.00% $ 5,247.44 29.00% $ 1,521.76
1091136 24 STACKER-' 1998 ME $ 1,9 IV 52,00% $ 997.35 29.00% 5 289.23
1091093 SULLAIRAI 1995 ME $ ,420.0 • $ 824.80 29.00% $ 181.19
1082323 NISSANFO 1991 - ME $ 16,487,0 15.00% 2,473.05 29.00% $ 717.18
(3q`) e /
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Plant 387 2002 Detail of Business
1201 Cornerstone Drive Personal Property
Windsor, Co.
PC4
Asset % Appr Ass Ass
Equipment Category Year Class Cost RCN Good Value % Value
3 Year Computer Equipment 2001 Total CE $14,165 1.00 52% $7,366 29% $2,136
3 Year Computer Equipment 2000 Total CE $285,205 1.00 31% $88,414 29% $25,640
3 Year Computer Equipment 1998 Total CE $7,623 1.00 7% $534 29% $155
3 Year Computer Equipment 1993 Total CE $3,100 1.00 7% $217 29% $63
4 Year Computer Equipment 1996 Total CE $1,618 1.00 7% $113 29% $33
4 Year Computer Equipment 1995 Total CE $16,021 1.00 7% $1,121 29% $325
4 Year Computer Equipment 1993 Total CE $35,581 1.00 7% $2,491 29% $722
10 Year Furniture&Fixtures 2000 Total FF $78,402 1.01 85% $67,308 29% $19,519
10 Year Furniture&Fixtures 1996 Total FF $9,444 1.05 52% $5,157 29% $1,495
10 Year Fumiture&Fixtures 1994 Total FF $1,465 1.10 36% $580 29% $168
10 Year Furniture&Fixtures 1992 Total FF $19,143 1.14 23% $5,019 29% $1,456
10 Year Furniture&Fixtures 1991 Total FF $12,795 1.15 15% $2,207 29% $640
10 Year Furniture&Fixtures 1987 Total FF $6,226 1.05 15% $981 29% $284
10 Year Machinery&Equipment 2001 Total ME $85,709 1.00 93% $79,709 29% $23,116
10 Year Machinery&Equipment 1999 Total ME $6,393 1.02 74% $4,826 29% $1,399
10 Year Machinery&Equipment 1998 Total ME $143,428 1.02 69% $100,945 29% $29,274
10 Year Machinery&Equipment 1997 Total ME $23,794 1.02 61% $14,805 29% $4,293
10 Year Machinery&Equipment 1996 Total ME $256,770 1.03 52% $137,526 29% $39,882
10 Year Machinery&Equipment 1995 Total ME $32,277 1.04 44% $14,770 29% $4,283
10 Year Machinery&Equipment 1994 Total ME $32,269 1.09 36% $12,662 29% $3,672
10 Year Machinery&Equipment 1993 Total ME $439,030 1.12 29% $142,597 29% $41,353
10 Year Machinery&Equipment 1992 Total ME $199,948 1.13 23% $51,966 29% $15,070
10 Year Machinery&Equipment 1991 Total ME $959,121 1.13 15% $162,571 29% $47,146
10 Year Machinery&Equipment 1990 Total ME $182,836 1.15 15% $31,539 29% $9,146
10 Year Machinery&Equipment 1989 Total ME $3,512,387 1.17 15% $616,424 29% $178,763
10 Year Machinery&Equipment 1988 Total ME $53,200 1.24 15% $9,895 29% $2,870
10 Year Machinery&Equipment 1987 Total ME $52,883 1.31 15% $10,392 29% $3,014
Grand Total 56,470,833 $1,572,134 $455,918
2001 Rendered $6,760,427
Deletions $585,121
Additions $290,714
2002 Rendered $6,470,833
Difference ($4,813)
Grant Thornton LLP Confidential 6/10/2003 Page 1
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Packaging Corp of America
C/o Grant Thornton LLP
1717 Main St. #500
Dallas, TX 75201
Attn: Jeff Mills
RE: P1001996
March 3, 2003
Dear Jeff,
Enclosed is the paperwork for your external abatement. I'm sorry it's taken so long to
send to you. The paperwork got lost on my desk. Congratulations, though, as you have
taken over the top-spot as the largest abatement I've ever done.
From my calculations, I believe your assessed amount should drop from $1,334,780 to
$463,450 with taxes owing of$48,347.56. The amount abated is $90, 898.04.
Please sign the enclosed abatement form on BOTH sides at the red "X". Return it to our
office at my attention and I will get the process started. You will be notified of a hearing
date with the County Commissioners, at which time I will recommend approval. You
need not be present at this hearing.
Once approved, it gets sent to the State Division of Property Taxation for final approval.
The entire process will take two to three months once I receive the paperwork.
If you have any other questions,please don't hesitate to give me a call.
Thanks,
Duane M. Robson
Commercial Personal Property
PE
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Packaging Corp of America
c/o Grant Thornton LLP
1717 Main St. #500
Dallas, TX 75201
Attn: Jeff Mills
RE: P1001996
April 8, 2003
Dear Jeff,
This letter is a follow-up to our telephone conversation this morning regarding the
Personal Property Declaration filed by your office on behalf of Packaging Corp of
America. Also present in this conversation were Reuben Talaiver of Grant Thornton and
Darla Olivier of PCA.
After our conversation, I passed on the information I was given to both our Chief
Appraiser and the Deputy Assessor. They, in turn, discussed the matter further while
reviewing all supporting documents. They then came to the conclusion that it would be
best of the County Attorney were involved to review the account, as well as the
accounting practices involved.
Therefore, it is the decision of this office to deny your request for abatement of taxes for
the 2002 tax year. Your paperwork has been forwarded on to the County Commissioners
wherein they will notify your office of a hearing date.
Feel free to contact me if you have any further questions.
Sincerely,
Duane M. Robson
Commercial Personal Property
CLERK TO THE BOARD
PHONE (970) 356-4000 EXT 4217
FAX: (303) 352-0242
WEBSITE: www.co.weld.co.us
915 10TH STREET
II D 1 P.O. BOX 758
C GREELEY, COLORADO 80632
COLORADO
July 23, 2003
PACKAGING CORP OF AMERICA
CIO GRANT THORNTON LLP
1717 MAIN STREET SUITE 500
DALLAS TX 75201
Parcel No.: 080721423001 Account No.: P1001996
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of August 5, 2003, at or about the hour of
9:00 AM,to hold a hearing on your valuation for assessment. This hearing will be held at the Weld
County Department of Public Health and Environment,Room 210,1555 North 17th Avenue,
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 5,2003,and
mailed to you on or before August 12, 2003.
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.
PACKAGING CORP OF AMERICA- P1001996
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 O 'EQUALIZATION
/11 �.��
Carol A. Harding
Deputy Clerk to the Board
cc: Stanley Sessions, Assessor
GRANT THORNTON LLP
1717 MAIN STREET
SUITE 500
DALLAS TX 75201
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