HomeMy WebLinkAbout20032077.tiff 4.0V'C043 Colorado Department of Local Affairs
F.
N Executive Director, Michael L. Beasley
sn
* * DIVISION OF PROPERTY TAXATION
* Mary E. Huddleston
/876 Property Tax Administrator
Bill Owens
Governor _ _
TO: County Commissioners
FROM: Mary E. Huddleston -
Property Tax Administrat r
SUBJECT: 2003 Final Notice of Valuation
State Assessed Property
DATE: August 1, 2003
MEMORANDUM
Enclosed are the final 2003 valuations for state assessed companies and a brief
narrative explaining changes made to companies as a result of county or company
protests. Companies with changes have been marked with an asterisk, "*".
If you disagree with the final valuation of a company that you timely protested in July
2003, you may file a petition on or before September 1, 2003, with the Board of
Assessment Appeals, 1313 Sherman Street, Suite 315, Denver, CO 80203, (303) 866-
5880. Laws concerning the appeal process are found in 39-2-125(1)(b)(I) and 39-4-
108(8), C.R.S.
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STATE ASSESSED PROPERTY SECTION
COUNTY NOTIFICATION
AUGUST 1, 2003
POSSIBLE APPEALS - COUNTY PROTESTS - COMPANY PROTESTS
POSSIBLE DISTRICT COURT OR BOARD OF ASSESSMENT APPEALS (BAA):
Companies or representatives that protested and did not receive the changes they
asked for, or want to provide more data to support their position.
American Airlines AL005
Delta Airlines AL016
Public Service Company of Colorado EL064
Brush Generation Company EL777
Thermo Cogeneration Partnership, L.P. EL867
Thermo Greeley EL318
Transwestern Pipeline PT310
Valero Logistics Operations PF322
Wiltel Communications Group, Inc. TL562
Global Crossing Telecommunications TL362
Forte of Colorado TL870
Covad Communications TL133
Calpoint TL606
AT&T Wireless Services of Colorado TM439
ClearTalk TM532
Delta County Tele-Comm Telephone TR471
Strasburg Telephone TR491
RSL Comm USA, Inc. TX835
Cable and Wireless, Inc. TX948
American Electric Power PC109
Ohio Valley Electric Corp PC285
Western Fuels Association PC295
Procor LTD PC240
We are dealing with more and more companies in bankruptcy as well as companies
required to de-value their property through write-downs required by the Securities
and Exchange Commission. The phrase "fresh start" means the carrying value of
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the property on the company's financial statements has been reduced to reflect
current "fair market value." The phrase "fair market value" is an accounting term that
is not the same as market value used by appraisers.
COUNTY PROTESTS:
BOULDER:
Black Hills Colorado, LLC EL053
The company's investment in Denver County nearly tripled while the investment in
Boulder County stayed relatively the same. The total assessed value increased by
nearly $12,000,000 over 2002, but Boulder's apportionment declined from 52.5
percent to 29.8 percent. The Denver apportionment went from 47.5 percent in 2002
to 70.2 percent in 2003.
Public Service Company of Colorado EL064
The value rose sharply this year as revenue to the company also rose. The decline
in the applicable capitalization rate contributed to the value increase.
Union Pacific Railroad RR361
The value increased based on revenue increases. The revenue increases arise out
of increased market share and decreased fuel cost.
Cable and Wireless, Inc TL 948
Value protested by both Douglas and Boulder counties. Apportionment basis for all
Colorado counties changed from gross revenue received by county to gross book
value of assets located in each county. Gross book value apportionment is
consistent with other facilities based telecommunications companies operating in
Colorado. No change was made in the 2003 Colorado actual value. Taxpayer
missed the 2003 deadline to protest, but may file for an abatement in 2004 claiming
additional obsolescence.
Comcast Phone of Colorado TL672 (formerly AT&T Broadband)
There was a greater amount of new investment in Boulder County than in other
counties. Consequently, the share of value to Boulder increased while the total
statewide value decreased. No amounts appear in the 5.5 percent limit and Tabor
columns because there was no real property new construction.
ICG Telecommunications TL371
The decline from 2002 to 2003 is due to further writing-down of the value of its
property. The DPT has given no obsolescence to the property since the write-down
is considered to include all forms of obsolescence.
MCI Worldcom Network Services TL390
The company is in bankruptcy. Heavy write-downs are inevitable, and our value is a
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conservative estimate of where the company's balance sheet may be after exiting
from Chapter 11. Next year's value is likely to be significantly lower.
Qwest Corporation TL393
The income dropped significantly, to the lowest level in 5 years. The carrying value
(depreciated cost on balance sheet as of December 31, 2002) of the operating
property dropped for the first time since 1999.
Qwest Wireless TM602
The company took a significant write-down of assets as mandated by the Financial
Accounting Standards Board. We valued the company at 100 percent of the
carrying cost at the "fresh start" amounts.
Excel Telecommunications TX844
This is an existing company with a new apportionment methodology for 2003. The
2003 values are apportioned by percentage of gross revenue received from
customers by county. Boulder has customers, therefore, has an apportionment for
2003.
Verizon Wireless TM455
The company assessment has increased. The company has been notified about the
county protest and is looking into the new property calculation, which may be in
error.
Cricket Communications TM662
The company assessment has increased. The company has been notified about the
county protest and is looking into the new property calculation, which may be in
error.
DELTA:
Zenex Long Distance, Inc. TX568
The property is not located in Delta County. All of the property has been
apportioned to Denver County.
DOUGLAS:
MCI Worldcom Network Services TL390
The company is in bankruptcy. Heavy write-downs are inevitable, and our value is a
conservative estimate of where the company's balance sheet may be after exiting
from Chapter 11. Next year's value is likely to be significantly lower.
Qwest Communications TL923
The company took a significant write-down of assets as mandated by the Financial
Accounting Standards Board. We valued the company at 100 percent of the
carrying value at the "fresh start" amounts.
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Qwest Corporation TL393
The income dropped significantly, to the lowest level in 5 years. The carrying value
of the operating property dropped for the first time since 1999.
Qwest Wireless TM602
The company took a significant write-down of assets as mandated by the Financial
Accounting Standards Board. We valued the company at 100 percent of the
carrying value at the "fresh start" amounts.
XO Communications TL456
Based on a write-down after bankruptcy all of the property was revalued at a
carrying value significantly less than pre-bankruptcy level. No property was
excluded from Douglas County.
Cable and Wireless, Inc. TX948
Value protested by both Douglas and Boulder counties. Apportionment basis for all
Colorado counties changed from gross revenue received by county to gross book
value of assets located in each county. Gross book value apportionment is
consistent with other fixed-based telecommunications companies operating in
Colorado. No change was made in the 2003 Colorado actual value. Taxpayer
missed the 2003 deadline to protest, but may file for an abatement in 2004 claiming
additional obsolescence.
Consumer Cellular TX748
In 2002, 100% of Colorado property was apportioned to Douglas County because
the company could not provide the number of customers by county. In 2003, the
company provided this listing and value was apportioned to counties that have
customers. Apportionment to counties using customer count by county is used for
all telephone resellers assessed in Colorado.
Univance Telecommunications, Inc. TX760
Received Annual Statement of Property (ASOP) during the protest period. Pursuant
to a filed protest, reduced value from Best Information Available (BIA) $1,000,000
assessed to $64,500 assessed based on information included in the ASOP.
Although the company has an office and telecommunications equipment in Douglas
County, it is licensed to operate as telecommunications reseller. As a reseller, the
company system value is allocated to Colorado based on gross revenues and
customer counts, and apportioned to each county based on customer counts.
MOFFAT:
PacifiCorp Electric Operations EL066
No Change to value. After Moffat County reviewed the notices of value and ASOP
for 2002 and 2003, no protest issues remained for 2003.
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Salt River Project (SRP) ER086
The assessed value increased. As a result of Moffat County protesting the 2003
valuation, the company reviewed its ASOP and accounting records and determined
that the net operating income was incorrect. Salt River Project has restated its 2002
income. The result is an increase in value for the 2003 tax year.
Tri-State Generation and Transmission ER093
No Change to value. After Moffat County reviewed the notices of value and ASOP
for 2002 and 2003, no protest issues remained for 2003.
MORGAN:
Brush Generation Company EL777
The company has no actual income figures for 2002. It says the DPT estimate
based on annualizing 2 months of data is very close to its own 2003 projection. We
used the annualized estimate and rounded up to $6,000,000 for net operating
income and the rate of return. The result is an increase in assessed value for the
county.
PHILLIPS:
Phillips County Telephone TR483
Value protested by Phillips County decreased from the 2002 assessed value of
$535,600 to $463,700 for 2003. According to the company, the new fiber optic cable
is in construction work in process (CWIP). The personal property is exempt until it is
first put into service. The CWIP property will be picked up in the valuation next year
since it was not in service as of the lien date. Another affect on the value is on the
increase in the capitalization rate for the rural telephone industry.
NE Colorado Cellular TM820
Value decreased while there was new property added. The company had a 33
percent drop in income and a 20 percent drop in operating property at year-end
2002. The company has provided an explanation that the new property costs less
than the property being replaced. The offset results in no new property calculation
in Phillips County and Washington County.
Platte River Cellular TM802
A building permit's estimated cost of work is not reflected in the allocation to Phillips
County. Verizon (Platte River Cellular) reports that the assets were identified as
construction work in progress at year-end, resulting in no change.
ROUTT:
PacifiCorp Operations EL066
No Change to value. After Moffat County reviewed the notices of value and ASOP
for 2002 and 2003, no protest issues remained for 2003.
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Salt River Project ERO86
The assessed value increased. As a result of Moffat County protesting the 2003
valuation, the company reviewed its ASOP and accounting records and determined
that the net operating income was incorrect. Salt River Project has restated its 2002
income. The result is an increase in value for the 2003 tax year.
Tri-State Generation and Transmission ERO93
No Change to value. After Moffat County reviewed the notices of value and ASOP
for 2002 and 2003, no protest issues remained for 2003.
NEW PROPERTY CHANGES (5.5% LIMIT/TABOR):
For the companies and counties listed below, the assessed values and actual
values have not changed from our July 1, 2003 Notice of Value.
The county notices show the following companies' names with an asterisk. The 5.5 %
limit assessed values and the tabor growth actual values have changed since our July
1, 2003 Notice of Value for the companies and counties shown below.
ALAMOSA Blanca Telephone Company TR469
CONEJOS Blanca Telephone Company TR469
COSTILLA Blanca Telephone Company TR469
DELTA Delta Montrose Electric Assn. ER070
DOUGLAS Intermountain Rural Electric Assn. ER077
EL PASO El Paso County Telephone Company TR475
Mountain View Electric Assn. ER083
GARFIELD Holy Cross Electric Association ER076
NC Telecom, Inc. TL652
GRAND Mountain Parks Electric, Inc. ER082
GUNNISON Delta Montrose Electric Assn. ER070
JACKSON Mountain Parks Electric, Inc. ER082
JEFFERSON Plains End, LLC EL317
LOS ANIMAS San Isabel Electric Association ER087
MOFFAT Salt River Project ER086
Tri-State Generation&Transmission ER093
NC Telecom, Inc. TL652
Union Telephone Company, Inc. TR493
MONTROSE Delta Montrose Electric Assn. ER070
Tri-State Generation&Transmission ER093
OURAY San Miguel Power Assn., Inc. ER088
PUEBLO San Isabel Electric Assoc. ER087
Tri-State Generation&Transmission ER093
RIO BLANCO White River Electric Association ER096
NC Telecom, Inc. TL652
Union Telephone TR493
SAN JUAN San Miguel Power Assn., Inc. ERO88
ROUTT Salt River Project ER086
Union Telephone TR493
SUMMIT Mountain Parks Electric, Inc. ER082
WASHINGTON Y-W Electric Association ER097
WELD Stoneham Co-op Telephone TR490
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COMPANY PROTESTS:
The county notices have companies' names that appear with an asterisk. The company
names with the asterisk have had value changes since our July 1, 2003 notice.
AIRLINE COMPANIES:
United Airlines AL049
Support for avionics software deduction provided, resulting in a decrease in value.
American Airlines AL005
Support for avionics software deduction provided, resulting in a decrease in value. Also
pointed out industry problems requesting an additional deduction. No change, but likely
to file for a hearing.
Delta Airlines AL016
Plan on providing an avionics software study in August. Also pointed out industry
problems requesting an additional deduction. No change, but likely to file for a hearing.
Great Lakes Airlines AL913
The company received a BIA valuation. There has been no protest; the BIA value will
stand for 2003.
Great Plains Airlines AL767
The company received a BIA valuation. There has been no protest; the BIA value will
stand for 2003.
ELECTRIC COMPANIES:
Public Service Company of Colorado EL064
The company would like DPT to adjust the income to remove the impact of trading
revenues (purchasing electricity from another producer and selling that power to
another distributor). The revenues were included in net operating income for the past
few years, and we have used imputed net operating income that diminishes a
significant part of the trading revenue. The income level imputed for this year is
defensible through both averages and the compounded time trend from the net
operating income after the Xcel adjustments for trading revenue and ICA (sharing of
gains and losses from fuel cost adjustments). The DPT made no change for 8/1/03.
The apportionment error in El Paso and Elbert Counties has been corrected.
Thermo Cogeneration/Thermo Greeley EL867/EL318
The company presented the same argument we have heard for years. We made no
change to the 7/1/03 value.
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FLUID PIPELINE COMPANIES:
Kaneb Pipeline PF326
The company made an apportionment error. It has been corrected. There is no
property in Lake County. There is property in Larimer County.
Mid-America Pipeline PF319
The company protested the fluid pipeline allocation to Colorado method. They wish to
use a 2-factor method (net book value and gross revenue) as opposed to a 3-factor
method (net book value, gross revenue, and barrel miles). Barrel miles and gross
revenues are the same as they are a factor of each other. We used the net book value
and gross revenue factors with equal weight to each.
Valero Logistic Operations, LP PF322
The company wants us to use a size premium in the capitalization rate. The 2002
stipulation was based on the addition of a size premium and the company wants similar
treatment. We adjusted the capitalization rate using a size premium very specific to
Valero Logistic Operations' size. The company wanted an average premium which
would have lowered the value more than we did. The allocation to Colorado increased
significantly as the company increase the investment within Colorado to a much greater
extent than it increased its investment outside of Colorado. As a result, the assessed
values nearly doubled to the counties from last year.
TRANSMISSION PIPELINES:
Transwestern Pipeline PT310
Accounting adjustments to the Federal Energy Regulatory Commission form reduce the
net operating income from $94,317,283 to $75,266,771. The imputed rate of return
excludes goodwill (acquisition adjustment) that is excluded from the earnings rate base
of the company but must be carried as an asset. The company could appeal the
exclusion of the goodwill in the rate of return calculation.
FACILITIES BASED TELECOMMUNICATION COMPANIES:
ACC Telecommunication, Inc. TL726
Company went out of business on December 11, 2002 and Colorado equipment was
warehoused in Arapahoe County. Taxpayer filed a 2003 ASOP, which resulted in a
preliminary 2003 assessed value of$2,508,700. Under formal protest, taxpayer
provided additional obsolescence documentation and an itemized listing of allowable
deductions to warrant a reduction in assessed value to $1,083,800. Since all property
was in Arapahoe County as of 1/1/2003, 100% of the Colorado value is apportioned to
Arapahoe County.
Cable and Wireless, Inc TL 948
Apportionment basis changed from gross revenue received by county to gross book
value of assets located in each county. Gross book value apportionment is similar to
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apportionment for other facilities based telecommunications companies operating in
Colorado. No change was made in the 2003 Colorado actual value. Taxpayer missed
the 2003 deadline to protest, but may file for an abatement in 2004 claiming additional
obsolescence.
Calpoint TL606
Company says all revenue is from 5-year indefeasible rights to use (IRUs) from Qwest.
The IRUs expire in 2006. The company believes that Qwest will not renew and that
Chapter 11 is a strong possibility. The company may send more information next week.
At this point no change is warranted.
Cbeyond Communications, Inc. TL 572
Received ASOP during the protest period. Pursuant to a filed protest, increased value
from $500,000 assessed to $1,143,200 assessed based on information included in the
ASOP.
Coved Communications, Inc. TL133
The company protested the value and suggested the DPT use a modified stock and
debt approach not described in the textbooks for the courses attended by the state
assessed staff. Testing the stock and debt approach as taught the classes we have
attended supports the value in our July NOV. We made no change to the value for the
final NOV.
Global Crossing Telecommunications TL362
The company remains in Chapter 11 bankruptcy protection. The company protested
and asked the DPT to accept a company provided replacement cost new less
depreciation study. Because the company is in bankruptcy no new financials have been
published. The ASOP data is based on a estimate by the property tax staff at the
company. Our value is, in our opinion, a forecast of post-bankruptcy, "fresh start"
financials for the company. We made no change to our July value.
Wiltel Communications Group, Inc. TL562
The company wants us to use restated "fresh start" (written down in financials to the
Securities and Exchange Commission) figures with added economic obsolescence. We
have been taking "fresh start" figures resulting from a bankruptcy or a write-down. We
give no added obsolescence to any company using re-stated financials. Therefore no
change is warranted.
Xspedius Management Company of Colorado Springs TL607
Xspedius Management Company Switched Services LLC TL002
The Annual Statement of Property was on time but incomplete. The company provided
a list of equipment in Colorado and the re-stated cost after taking a write-down. The
7/1/03 values are BIA valuations based on 2002 assessments. The company provided
audited financial statements as part of the July protest. The 8/1/03 values are based on
the financial statements and the property in Colorado.
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•
MOBILE TELEPHONE COMPANIES:
ClearTalk TM532
The company received a BIA valuation. The ASOP has not been received. An appeal
to the BAA is likely. The value is subject to change if the company sends an ASOP as
part of a settlement offer.
Arch Wireless TM443
The company has provided the information to lift the BIA valuation. The BIA valuation
was based on last year's assessment. The company came out of bankruptcy in 2002.
The assets were restated down 55 percent and net operating income dropped 51
percent. The total assessed value declined from $3,163,300 to $1,534,200.
AT&T Wireless Services of Colorado TM439,
Fort Collins Loveland Cellular TM752, Greeley Cellular TM753
AT&T Wireless has consolidated the Fort Collins Loveland Cellular Company and
Greeley Cellular statements. The company revised expenses with the change.
Corporate expenses were not adequately stated in the partnership entities controlling
the exempt FCC licenses. The overall value has declined with consolidation. The Fort
Collins Loveland Cellular and Greeley Cellular companies are removed from valuation.
The company may still appeal our valuation.
Platte River Cellular TM802
The company's income tax had not been deducted from the income information
resulting in a decline in total assessed value from $1,152,200 to $1,133,800.
TELEPHONE RESELLER COMPANIES:
Access One, Inc. TX725
Received Annual Statement of Property (ASOP) during the protest period. Pursuant to
a filed protest, reduced value from $500,000 assessed to $9,200 assessed based on
information included in the ASOP.
AccessLine LD Services TX574
Netel, Inc. TX749
Zenex Long Distance, Inc. TX568
All three companies were sent blank Annual Statements of Property in February 2003
and each was assigned a BIA value of$500,000 assessed for 2003. As of August 1,
2003, none of the companies have protested nor returned calls by Division personnel.
Therefore, the BIA values will stand for 2003. BIA values were assigned to Denver
County.
Broadwing Telecom, Inc. TX386
In 2002, company reported a significant write-down of assets, both parent-wide and
reporting-company wide. For Broadwing Telecom, the reseller arm of Broadwing
Communications Services, Inc., the system-wide assets were written down from
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$15,600,000 to $775,000. Colorado gets 1.75% of the total system value. Preliminary
2003 value was $79,200 assessed because sufficient information had not been filed
regarding the reason for the write-down of assets. Company filed documentation as
requested and the final assessed value was reduced to $3,900.
CenturyTel Long Distance TX021
Company protested asking for a lower net operating income estimate when using the
income approach. No adjustment made from July 1, 2003 Notice of Value.
RSL Comm U.S.A., Inc TX835
Company did not file an ASOP for 2003 and was assigned a BIA assessed value of
$2,500,000. Company filed a protest of the 2003 BIA, but has not filed a completed
ASOP. In its protest letter, company requested a conference call to resolve the BIA
value. We have indicated we will not discuss removal of the BIA value until a completed
ASOP is filed. Company has until September 1, 2003, to file an appeal to the BAA or
district court.
Net2Phone, Inc. TX643
Received ASOP during the protest period. Pursuant to a filed protest, reduced
assessed value from $500,000 to $6,800 based on information included in the ASOP.
Teligent Services, Inc. TX025
Company emerged from bankruptcy in September 2002 with a substantial write-down of
assets ($560,534,000 v. $39,421,626.) Colorado allocation percentage is 0.31 percent.
Company also provided documentation regarding the existence and valuation of
$26,000,000 in FCC wireless licenses included as company assets which are deductible
pursuant to 39-4-101 (1)(b), C.R.S. Pursuant to formal protest, 2003 assessed value
was reduced from $35,700 to $12,200.
Unity Communications, Inc. TX270
Received ASOP during the protest period. Pursuant to a filed protest, reduced
assessed value from $500,000 to $20,700 based on information included in the ASOP.
Univance Telecommunications, Inc. TX760
Received Annual ASOP during the protest period. Pursuant to a filed protest, reduced
assessed value from Best Information Available $1,000,000 to $64,500 based on
information included in the ASOP. Although the company has an office and
telecommunications equipment in Douglas County, it is licensed to operate as
telecommunications reseller. As a reseller, the company system value is allocated to
Colorado based on gross revenues and customer counts and apportioned to each
county based on customer counts.
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WATER COMPANIES:
Lake Durango Water Company WA608
Received ASOP during the protest period. Pursuant to a filed protest, reduced
assessed value from $500,000 to $279,800 based on information included in the ASOP.
Price East Alamosa Water Company WA511
Received ASOP during the protest period. Pursuant to a filed protest, reduced
assessed value from $500,000 to $11,400 based on information included in the ASOP.
The 2003 value is 100 percent higher than value assigned for 2002. Because property
owned by this company was sold to the City of Alamosa in March 2003, this will be the
last year the company is taxable.
PRIVATE CARLINE COMPANIES:
American Electric Power PC109
The valuation was based on the lease payment information. The company has
provided a breakout of historic cost and net book value. Using the historic cost with a
more conservative depreciation schedule results in $19,071 per car. The total assessed
value change is from $690,500 to $382,800.
Ohio Valley Electric Corp PC285
The valuation was based on the lease payment information. The company has
provided a breakout of historic cost and net book value. Using the historic cost with a
more conservative depreciation schedule results in $30,087 per car. The total assessed
value change is from $690,500 to $382,800.
Western Fuels Association PC295
The miles per day per car were in error. The total assessed value has increased from
$50,400 to $275,100.
Procor LTD PC240
The company is seeking a large fleet discount; no change.
Private Carline Address Changes Included in the PC Company Address List
JAIX Leasing PC280
Sulcom Inc. PC989
Basell USA PC681
Degussa Engineered Carbons PC591
G:dpt-grp/sap/2003 Protests/County Protests Narrative 2003
12
Colorado State Assessed Property
Notice of Valuation- County Summary
August 1, 2003
WELD
ID Company Name $Assessed $Actual 5.5%Limit Tabor Actual
TL 569 360networks(USA)inc. $161,200 $555,900 $0 $0
TX 725 Access One,Inc. * $100 $300 $0 $0
TX 573 ACCXX COMMUNICATIONS LLC $100 $300 $0 $0
TX 414 ACN Communications Services $900 $3,100 $0 $0
TX 936 Affinity Telecom dba C-COM $12,700 $43,800 $0 $0
TX 991 Amerivision Communications,Inc. $5,300 $18,300 $0 $0
TM 443 Arch Wireless Operating Company* $65,200 $224,800 $0 $0
TL 369 AT&T Communications $3,362,400 $11,594,500 $752,900 $3,000
TM 439 AT&T Wireless Services of Colorado, LLC* $1,257,600 $4,336,600 $0 $0
PD 306 Atmos Energy Corporation $5,601,800 $19,316,600 $0 $0
EL 067 Basin Electric Power Cooperative $1,031,200 $3,555,900 $0 $0
PF 312 BP Pipelines(North America)Inc. $415,700 $1,433,400 $0 $0
TL 091 Broadwing Communications Services, inc. $71,700 $247,200 $0 $0
TX 386 Broadwing Telecommunications Inc. * $100 $300 $0 $0
RR 345 Burlington Northern&Santa Fe Railway Co $3,730,200 $__1.2,862,800 $0 $0
TX 400 Business Telecom, Inc. $100 $300 $0 $0
TL 948 Cable&Wireless USA,Inc. * $41,300 $142,400 $0 $0
TL 606 Calpoint(Colorado)LLC* $360,000 $1,241,400 $0 $0
TL 572 Cbeyond Communications,Inc. * $10,400 $35,900 $0 $0
PT 328 Colorado Interstate Gas Company $16,758,400 $57,787,600 $2,400 $2,200
TL 672 Comcast Phone of Colorado,LLC $4,100 $14,100 $0 $0
PF 315 Conoco Pipe Line Company $1,105,400 $3,811,700 $0 $0
TX 748 Consumer Cellular $3,000 $10,300 $0 $0
TM 662 Cricket Communications Inc $726,000 $2,503,400 $0 $0
TL 676 DynegyConnect $103,900 $358,300 $0 $0
TX 444 eMeritus Communications aka Teleglobe $5,300 $18,300 $0 $0
TL 648 Enron Broadband Services $20,800 $71,700 $0 $0
TX 844 Excel Telcommunications,Inc. $69,000 $237,900 $0 $0
AL 020 FedEx Express $11,200 $38,600 $0 $0
TM 752 Fort Collins-Loveland Cellular Telephone Co $0 $0 $0 $0
TL 677 France Telecom Long Distance USA,LLC $51,300 $176,900 $0 $0
TL 062 Genuity Solutions c/o Level 3 Communicatio $46,900 $161,700 $0 $0
RR 355 Great Western Railway of Colorado $627,000 $2,162,100 $0 $0
TM 753 Greeley Cellular Telephone Company* $0 $0 $0 $0
-- — __-_. ----.
ER 827 Heartland Consumers Power District $157,400 $542,800 $0 $0
ER 085 High West Energy Rural Electric $31,700 $109,300 $0 $0
ER 075 Highline Electric Association $5,800 $20,000 $0 $0
TL 371 ICG Telecom Group,Inc. $20,200 $69,700 $0 $0
- --
TX 865 Inter-Tel NetSolutions,Inc. $2,300 $7,900 $0 $0
TX 022 lonex Communications $3,900 $13,400 $0 $0
EL 819 Johnstown Cogeneration Company,LLC $43,400 $149,700 $0 $0
PF 326 Kaneb Pipe Line Company* $283,200 $976,600 $0 $0
PT 675 Kerr-McGee Gathering LLC _ $31,645,600 $109,122,800 _ $0 _ $0
PT 920 KM Interstate Gas Transmission LLC $6,610,800 $22,795,900 $0 $0
PD 309 KN Retail $1,243,100 $4,286,600 $0 $0
TL 500 Level 3 Communications,LLC $431,800 $1,489,000 $89,300 $307,900
TX 612 Lightyear Communications Inc. _ $2,100 $7,200 $0 _ $0
ER 825 Lincoln Electric System $150,300 $518,300 $0 $0
TX --_762 Matrix Telecom,Inc $300 $1,000 $0 $0
8/1/2003 WELD
Page 1 of 2
ID Company Name $Assessed $Actual 5.5% Limit Tabor Actual
TL 390 MCIWorldcom Network Services,inc. $1,176,900 $4,058,300 $0 $0
TL 366 McLeodUSA Network Services,inc. $37,800 $130,300 $0 $0
TL 368 McLeodUSA Telecommications Services,inc $8,300 $28,600 $0 $0
TM 459 MetroCall,Inc fka Adv Nationwide $21,100 $72,800 $0 $0
TL 570 Metromedia Fiber Network Services,Inc. $30,000 $103,400 $0 $0
ER 081 Morgan County Rural Elect.Assoc. $734,400 $2,532,400 $0 $0
TM 611 Nextel West Corporation $272,800 $940,700 $0 $0
TR 481 Nunn Telephone Company $405,300 $1,397,600 $0 $0
TX 138 Operator Communications $800 $2,800 $0 $0
TX 576 PhoneSmart,Inc. $12,900 $44,500 $0 $0
EL 472 Ponnequin Acquisitions $785,400 $2,708,300 $0 $0
ER 084 Poudre Valley Rural Electric Assn $2,048,800 $7,064,800 $0 $0
TX 347 Primus Telecommunications,Inc. $9,100 $31,400 $0 $0
EL 064 Public Service Company of Colorado $106,284,500 $366,498,300 $0 $0
TL 393 Qwest Corporation $24,827,700 $85,612,800 $0 $0
TM602 Qwest Wireless LLC $469,100 $1,617,600 $0 $0
PT 679 Rocky Mountain Natural Gas Company $11,800 $40,700 $0 $0
TR 487 Roggen Telephone Co-op $170,200 $586,900 $0 $0
TX 835 RSL Comm U.S.A.,Inc. $27,300 $94,100 $0 $0
PF 323 Sinclair Pipeline Company $106,400 $366,900 $0 $0
PT 334 Southern Star Central Gas Pipeline,Inc. $1,147,600 $3,957,200 $0 $0
TL 379 Sprint Communications Company L.P. $747,300 $2,576,900 $0 $0
TM 435 Sprint Spectrum LP dba Sprint PCS $803,400 $2,770,300 $0 $0
PT 286 Sterling Energy Company $23,700 $81,700 $0 $0
TR 490 Stoneham Co-op Telephone Corporation * $81,500 $281,000 $25,300 $87,300
TX 684 Talk America, Inc. $9,500 $32,800 $0 $0
EL 867 Thermo Cogeneration Partnership,L.P. $26,309,600 $90,722,800 $0 $0
EL 318 Thermo Greeley,LLC $4,494,800 $15,499,300 SO $0
EL 746 Thermo Power&Electric Company $2,590,900 $8,934,100 $0 $0
TM 449 T-Mobile fka VoiceStream $997,200 $3,438,600 $0 $0
TL 583 T-Netix,Inc. $5,500 $19,000 $0 $0
TL 457 Touch America,Inc. $787,600 $2,715,900 $0 $0
PT 340 Trailblazer Pipeline Company $2,159,000 $7,444,800 $0 $0
ER 093 Tri-State Gen&Transm Assoc. * $1,795,100 $6,190,000 $0 $0
RR 361 Union Pacific Railroad Company $10,515,300 $36,259,700 $368,800 $41,500
ER 094 United Power,Inc. $6,432,300 $22,180,300 $0 $0
TX 760 Univance Telecommunications,Inc. * $2,100 $7,200 $0 $0
TM 455 Verizon Wireless(VAW)LLC $1,964,600 $6,774,500 $135,000 $465,500
ER 833 Western Minnesota Municipal Power Agency $540,300 $1,863,100 $0 $0
PT 807 Westgas Interstate,Inc. $21,200 $73,100 $0 $0
PF 956 Westtex 66 pipeline Co. $200,200 $690,300 $0 $0
TR 496 Wiggins Telephone Association $159,400 $549,700 $0 $0
TL 562 WilTel Communications Group,Inc. $634,500 $2,187,900 $0 $0
---$ - --- — ---- $-TX 618 Working Assets Funding Service,Inc $61,400 $211,700 $0 $0
PT 343 Wyoming Interstate Company Ltd $6,230,300 $21,483,800 $0 $0
ER 824 Wyoming Municipal Power Agency $66,700 $230,000 $0 $0
TL 456 XO Communications, Inc. $200 $700 $0 $0
TOTALS $282,514,000 $974,186,200 $1,373,700 $907,400
8/1/2003 WELD Page 2 of 2
Colorado State Assessed Property - Private Canine
Notice of Valuation - County Summary
August 1, 2003
WELD
ID Company Name $Assessed $Actual
PC 782 A.E. Staley Manufacturing Company $1,200 $4,100
PC 260 ACF Industries,Inc. $14,200 $49,000
PC 099 ADM Transportation Co $13,700 $47,200
PC 930 Ag Processing Inc. $3,200 $11,000
PC 180 Air Liquide America Corp _-_ $400 $1,400
PC 105 Alabama Power Company $40,000 $137,900
PC 596 Alliant Energy FKA Wisconsin P&L $8,000 $27,600
PC 109 American Elec Power SC* $26,900 $92,800
PC 690 American Soda,LLP $45,100 $155,500
PC 117 ASARCO Inc. $500 $1,700
PC 210 Ash Grove Cement Co. $300 $1,000
PC 914 Astaris LLC c/o Amer Railcar Ind $300 $1,000 -PC 681 Basell USA fka Montell $700 $2,400
PC 225 Bombardier Capital fka NorRail $3,900 $13,400
PC III BP Corporation North America Inc. $1,000 $3,400
PC 261 BP Solvay Polyethylene North America $1,200 $4,100
PC 723 C. W. Brooks $200 $700 -- - -
PC 696 Caldwell-Baker Co $100 $300
PC 998 Calumet Lubricants $900 $3,100
PC 697 Canadian Enterprise Gas $100 $300
PC 553 Cargill,Inc. $5,100 $17,600
PC 554 Cargill,Inc.CGD Division $7,700 $26,600
PC 941 Cargill,Inc. Salt Division $1,000 $3,400
PC 126 Celtran Inc $200 $700
PC 604 Centennial Gas Liquids $700 $2,400
PC 558 Central&SW Services $5,400 $18,600
PC 128 Central Power&Light $28,500 $98,300 - - -
PC 131 Chevron Phillips Chemical Co $2,100 $7,200
----- .. ----PC 130 Chevron USA Inc. $3,100 $10,700
PC 132 Chicago Freight Car Leasing $9,900 $34,100
PC 791 Citicorp Railmark,Inc. $100 $300
PC 135 City Public Service of San Antonio $1,800 $6,200
PC 100 Commonwealth Edison Company $21,200 $73,100
PC 040 Conoco Phillips Company $14,100 $48,600
PC 701 Continental Tank Car $400 $1,400
PC 619 Coors Brewing Company $66,800 $230,300
PC 702 Cryo-Trans,Inc. $900 $3,100
PC 141 Crystal Car Line $1,400 $4,800
PC 036 Dakota Gasification Co $2,900 $10,000
PC 591 Degussa Engineered Carbons, LP $200 $700
PC 142 Delta Tank Line Co $200 $700
PC 273 Dow Chemical Co&Union Carbide $1,200 $4,100
PC 269 Eastman Chemical Company $600 $2,100
PC 202 ECDC Environmental $100 $300
PC 797 Empire District Elec.Co. $20,100 $69,300
PC 266 Entergy Arkansas,Inc. --._ $5,100 $17,600
PC 174 Entergy Gulf States,Inc $33,800 $116,600
PC 939 Enterprise Products Operating LP $700 $2,400
PC 124 EPIC $300 $1,000
8/1/2003 WELD Page 1 of 4
ID Company Name $Assessed $Actual
PC 148 Equistar Chemicals,LP $2,100 $7,200
PC 715 Excel Railcar Corporation $2,200 $7,600
PC 151 Exxon Mobil Corporation $4,500 $15,500
PC 033 Farmers Commodities Trans Co $2,500 $8,600
PC 155 Farmland Industries Inc. $2,600 $9,000
PC 519 Fayette Power Project Unit 1 &2 $29,100 $100,300
PC 911 Fayette Power Project Unit 3 $9,300 $32,100
PC 153 Fina Oil Co $200 $700
PC 220 First Union Rail Corporation $20,800 $71,700
PC 718 Flex Leasing $1,400 $4,800
PC 521 FMC Corporation -- --_ $2,900 $10,000
PC 156 FormosaTransrailCorp $1,100 $3,800
PC 325 Freeport McMoRan Sulphur $8,800 $30,300
PC 231 Fuel Supply Trust $100 $300 PC 162 GATX Financial Corp Rail Division $38,500 $132,800
PC 699 GATX Rail Canada FKA CGTX $700 $2,400
PC 163 GE Railcar Customers $100 $300
PC 559 General Electric Rail Services $28,300 $97,600
PC 344 Georgetown Rail Equipment Co $7,900 $27,200
PC 165 Georgia Gulf Chemicals&Vinyls,LLC $100 $300
PC 960 Georgia Power Company $20,100 $69,300
PC 168 GLNX Corporation $1,000 $3,400
PC 708 Grand River Dam Authority $100 $300
PC 709 Greenbrier Leasing Corp $35,800 $123,400
PC 550 Helm Financial Corp $22,700 $78,300
PC 935 Helm Pacific Leasing $500 $1,700
PC 946 Herzog Contracting $1,100 $3,800
PC 888 Holnam aka Holcim $10,300 $35,500
PC 200 IMC Chemicals Inc. $1,300 $4,500
PC 664 Intercoastal Leasing $400 $1,400
PC 878 J.R. Simplot Co. $7,400 $25,500
PC 280 JAIX Leasing $11,500 $39,700
PC 909 Joseph Leasing Ltd $52,300 $180,300
PC 905 Joseph Transportation Inc. $16,200 $55,900
PC 199 Kennecott Utah Copper Corp $7,800 $26,900
PC 900 L.G.Everist,Inc. $6,400 $22,100
PC 536 Louis Dreyfus Corp $200 $700
PC 232 M&C Railcar Leasing,LLC $600 $2,100
PC 207 Mallard Transportation Co $100 $300
PC 212 MHC Inc c/o ConAgra Inc $2,800 $9,700
PC 537 Mid-American Energy Co. $1,400 $4,800
PC 403 Midwest Generation, LLC $3,100 $10,700
PC 217 Mississippi Power Co $130,300 $449,300
PC 214 MRC Rail Services _ _ $4,900 $16,900
PC 251 MRXX Corp(FKA Rex Leasing) $700 $2,400
PC 152 NashTex Leasing,Inc. $300 $1,000
PC 243 Nevada Cement $1,500 $5,200
PC 230 Nevada Power $6,800 $23,400
PC 039 North American Salt Company $200 $700
PC 274 North Star Steel $1,500 $5,200
PC 221 Northern Indiana Public Service Company $11,700 $40,300 PC 945 Northern States Power $22,000 $75,900
PC 173 Nova Chemicals Inc. $1,300 $4,500
PC 226 Occidental Chemical Corporation $1,200 $4,100
8/1/2003 WELD Page 2 of 4
ID Company Name $Assessed $Actual
PC 144 OCI Chemical Corporation $300 $1,000
PC 285 Ohio Valley Electric Corp* $900 $3,100
PC 910 Oil-Dri Corporation of America $100 $300
PC 227 Oklahoma Gas&Electric Company $400 $1,400
PC 229 Omaha Public Power District $200 $700
PC 993 Perdue Transportation $100 $300
PC 236 PLM International,Inc. $2,600 $9,000
PC 727 Poole Chemical $100 $300
PC 240 Procor Ltd $7,200 $24,800 -- -- - -
PC 728 Proctor&Gamble $2,600 $9,000
PC 241 Public Service Company of Colorado $50,700 $174,800
PC 242 Public Service Company of Oklahoma $7,200 $24,800
PC 193 Railcar Associates LP $4,000 $13,800
PC 055 Railcar Leasing LLC $4,300 $14,800
PC 448 Railcar,Ltd. - - $900 $3,100 - -
PC 926 Rampart Range Corp $600 $2,100
PC 250 Relco Tank Line,Inc. $100 $300
PC 882 Rocky Mtn Transportation Srvc $1,000 $3,400
PC 691 S.M. Brooks Freight $300 $1,000
PC 535 Sauvage Gas Company $100 $300
PC 265 Savage Harrington Energy $29,600 $102,100
PC 298 Savage-Yolk Energy Services $47,500 $163,800
PC 258 Shell Oil Company $400 $1,400 - --
PC 259 Shintech Inc. $200 $700
PC 101 Solvay Minerals,Inc. $4,800 $16,600
PC 223 Southeastern Industrial Ent $600 $2,100
PC 944 Southern Illinois Railcar $2,400 $8,300
PC 333 Southwest Rail Industries,Inc. $1,100 $3,800
PC 255 Southwestern Electric Power Co $4,800 $16,600
PC 042 Structural Metals Inc. $200 $700
PC 989 Sulcom Inc. $100 $300
PC 264 Sunoco R&M(fka Aristech) $100 $300
PC 267 Tamak Transportation Corp $100 $300
PC 287 Texas Genco fka Reliant Energy $96,600 $333,100
PC 044 Texas Railcar Leasing $100 $300
PC 875 The Andersons,Inc. $400 $1,400
PC 143 The CIT Group/Capital Finance $140,200 $483,400
PC 203 The Polyone Company $100 $300
PC 924 Transmatrix,Inc. $200 $700
PC 603 Transport Capital Rail Partners $66,900 $230,700
PC 636 Transportation Equipment,Inc. $1,800 $6,200
PC 150 Transrail,Inc. $300 $1,000
PC 278 Trinity Industries Leasing $13,900 $47,900
PC 346 Trinity Rail Management $44,400 $153,100
PC 275 TTX Company $71,800 $247,600
PC 292 TXU Generation Company $25,300 $87,200
PC 284 Union Tank Car Co $45,000 $155,200
PC 925 United Asphalt, Inc. $100 $300
PC 289 Vulcan Materials Co $1,100 $3,800
PC 291 Walter Haffner Co $100 $300
PC 995 Wells Fargo Bank Northwest $100 $300
PC 954 Westar Energy,Inc.fka Western Resources $27,400 $94,500 -
PC 034 Western Evergreen Inv LLC $3,700 $12,800
PC 294 Western Farmers Elec Co-Op $15,900 $54,800
8/1/2003 WELD
Page 3 of 4
ID Company Name S Assessed $Actual
PC 295 Western Fuels Association• $22,000 $75,900
PC 903 Western Railroad Equipment Company $100 $300
PC 883 Wisconsin Electric Power $100 $300
PC 668 Wisconsin Public Service Corp $400 $1,400
TOTALS $1,699,800 $5,859,900
8/1/2003 WELD
Page 4 of 4
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