HomeMy WebLinkAbout20012047 RESOLUTION
RE: THE BOARD OF EQUALIZATION, 2001,WELD COUNTY, COLORADO -ADJUST
VALUE IN PART
PETITION OF: MAJORS DALE L & EVELYN E
2911 GRANDVIEW DR
GREELEY, CO 80631
DESCRIPTION OF PROPERTY: ACCOUNT#: R3462386 PARCEL#: 096117102005 -
GR IP1-5 L5 BLK1 GREELEY INDUSTRIAL PARK %2123 2 AVE%
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 2001, 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 2001, claiming that the property described in such petition was assessed
too high, as more specifically stated in said petition, and
WHEREAS, said petitioner being present, 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 Board of Equalization, that the evidence presented at the hearing
supported, in part, the value placed upon the property by the petitioner. The assessment and
valuation of the Weld County Assessor shall be, and hereby is, adjusted as follows:
ACTUAL VALUE
AS DETERMINED ADJUSTED
BY ASSESSOR ACTUAL VALUE
Land $ 70,000 $ 50,400
Improvements OR
Personal Property 490,130 485,600
TOTAL $ 560,130 $ 536,000
2001-2047
•
Fe, flS, C fl , mt e, AS0049
RE: BOE - MAJORS DALE L & EVELYN E
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 thirty (30) days of this resolution:
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), CRS)
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 523
Denver, CO 80203
Phone: 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), CRS)
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, CRS)
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.
2001-2047
AS0049
RE: BOE - MAJORS DALE L& EVELYN E
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 fad 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 27th day of July, A.D., 2001.
BOARD OF COUNTY COMMISSIONERS
A ��� WELD CO TY, COLORADO
ATTEST: aA�j
"""� A � Geile, hair
Weld County Clerk to the Board
Glenn V em
BY: 4-#---11(.9dDeputy Cleto the ard /!'rte
Willi . Jerke
Etta
C 59)7
v Long C
■1 n� Attorney O( �
� as;a3c5s !�S',I,
Robert D. Masden
2001-2047
AS0049
NOTICE OF ADJUSTMENT OFFICE OF COUNTY ASSESSOR
(, �l f) Cl I� ? i` Y 1400 NORTH 17th AVE.
CE
4, GR IP1-5 LS BLKl GREELEY GREELEY,CO 80631
'INDUSTRIAL PARK %2123 2 AVE% PHONE(970)353-3845,EXT.3650
Will e".:11
nnto 11 8: 47
COLORADO :::•-i--.. -}OWNER RECL MAJORS DALE L & EVELYN E
MAJORS DALE L & EVELYN E LOG 2928
2911 GRANDVIEW DR PARCEL 09611710200
ACCOUNT R3462386
GREELEY, CO 80631 YEAR 2001
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):
Commercial property is valued by considering the cost, market, and
income approaches .
If your concern is the amount of your property tax,local taxing authorities(county,city,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 as follows:
After review of your property and the values we had placed on it, we have made
adjustments . This was done because of additional inormation obtained.
PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE
OF VALUE ACTUAL VALUE ACTUAL VALUE
PRIOR TO REVIEW AFTER REVIEW
COMMERCIAL 560130 536000
TOTALS $ $ 560130 s.536000
APPEAL DEADLINES: REAL PROPERTY-JULY 16,PERSONAL PROPERTY-JULY 20.
If you disagree with the Assessor's decision,you have the right to appeal to the County Board of Equalization for further consideration,39-8-
106(1)(a),C.R.S. Please see the back of this form for detailed information on filing your appeal.
06/27/2001
By: Stanley F. Sessions
WELD COUNTY ASSESSOR DATE
15-DPT-AR c `j f
Form PR-207-87/99 ADDITIONAL INFORMATION ON REVERSE SIDE
YOU HAVE THE RIGHT TO APPEAL THE ASSESSOR'S DECISION
The County Board of Equalization will sit to hear appeals beginning July 2 and continuing through August 6 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 compleated form to the County
Board of Equalization. To preserve your right to appeal, your appeal must be POSTMARKED OR DELIVERED
ON OR BEFORE JULY 16 FOR REAL PROPERTY, AND JULY 20 FOR PERSONAL PROPERTY.
WELD COUNTY BOARD OF EQUALIZATION
915 10th Street, P.O. Box 758
Greeley, Colorado 80632
Telephone (970)356-4000 Ext. 4225
NOTIFICATION OF HEARING:
You will be notified of the time and place set for the hearing of your appeal.
COUNTY BOARD OF EOUALIZATION'S DETERMINATION:
The County Board of Equalization must make a decision on your appeal and mail you a determination within five
business days of that decision. The County Board must conclude its hearings and render decisions by August 6.
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.
District Court:
9th Avenue and 9th Street, P.O. Box C
Greeley, Colorado 80632
Telephone (970) 356-4000, Ext. 4520
Arbitration:
WELD COUNTY BOARD OF EQUALIZATION
915 10th Street, P.O. Box 758
Greeley, Colorado 80632
Telephone (970) 356-4000, Ext. 4225
If you do not receive a determination from the County Board of Equalization, you must file an appeal with the Board
of Assessment Appeals by September 12.
TO PRESERVE YOUR APPEAL RIGHTS, YOU MUST PROVE YOU HAVE FILED A TIMELY
APPEAL; THEREFORE, WE RECOMMEND ALL CORRESPONDENCE BE MAILED WITH PROOF
OF MAILING.
PETITION TO THE COUNTY BOARD OF EQUALIZATION
In the space below, please explain why you disagree with the Assessor's valuation. IN ACCORDANCE WITH 39-
8-106, C.R.S., YOU MUST STATE YOUR OPINION OF VALUE IN TERMS OF A SPECIFIC DOLLAR
AMOUNT. Attach additional documents as necessary. 7/ � ,�, �� j- L, i'u pi 4
/611 �'�77]/ elf O . �5 -/ SLV/7Iai 44d j teat a S r'S arc) El rrt� ..
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6“,107i was _a.tI7� w, /999. Ex,oeusos were ✓er7 hag G, 0-4e, pep e,.-`5 near /eds.
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SI(,NAI UI��. t 11 UNt �/`�!i, UAI
Stanley F. Sessions
WELD COUNTY ASSESSOR
MICHAEL SAMPSON, CHIEF APPRAISER
APPRAISAL REPORT
OF
COMMERCIAL PROPERTY
FOR
County Board of Equalization
MAJORS DALE L & EVELYN E
PETITIONER
vs.
WELD COUNTY ASSESSOR'S OFFICE
RESPONDENT
Parcel Number: 0961-17-1-02-005
Schedule Number: R3462386
Log Number: 2928
Date: 07/27/01
Time: 11:00 am
Board: CBOE
PREPARED BY
CHUCK JACK
ci O7/27/o
Sig re Date
Signature Date
ASSESSOR'S OFFICE STAFF APPRAISER
CBOE_COMA1_010998
Page 1
SUMMARY OF SALIENT FACTS AND CONCLUSIONS
Purpose of the Appraisal : Estimate market value June 30, 2000 .
Property Rights Appraised: Unencumbered fee simple interests .
Property Address : 2123 2ND AVE, Greeley, Colorado
Improvement : STORAGE WAREHOUSE
Land size: 56, 000 square feet
Zoning: I-2 MEDIUM INDUSTRAIL
Assessor's Value: 2001
Land Value : 50, 400
Imps Value: 485, 600
Total Value: 536, 000
Highest and Best Use: Present use as a STORAGE WAREHOUSE, LIGHT
INDUSTRIAL,AND DISTRIBUTION PURPOSES.
Size of Improvements : 1ST FLOOR WAREHOUSE: 25, 016 square feet
1ST FLOOR OFFICE: 1, 856 square feet
2ND FLOOR OFFICE: 1, 920 square feet
TOTAL: 28, 792 square feet
Year of Construction: 1968 (9 , 760 sq. ft . )
1979 (19, 032 sq. ft . )
Effective Age: 15 years
Remaining Economic Life: 25 years
Estimated Land Value: $50, 400
Estimate of Value:
Cost Approach
Land Value: 50, 400
Improvement Value: 534, 250
Total Value Rounded: 5584 . 650
Sales Comparison Approach: 5575 , 800
Income Approach: 5602 . 200
Final Estimate of Value: $589,000
Date of Value: June 30, 2000
2
SUBJECT PHOTO'S
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SUBJECT PHOTO'S
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SKETCH/AREA TABLE ADDENDUM
Case No 83482388
File No 098117102005
Property Address 2123 2 AV
City GREELEY County WELD State 0 Zip 80831-
; Borrower MAJORS DALE L&EVELYN E
Lender/Client
Appraiser Name -
252.0' Office 13%
zza.o' 24.0'
STORAGE WAREHOUSE 2
1920.0 sf
80.0' Class S 72.0'
Blt 1968/1980 80.0'
16' wh 1
space heat 1856.0sf
20.0' o 8.0
D
7.0
e.o'
68.0' 26.0' 13.6' 90.0'
24.6'
16.0' 2 over
Dock Canopy
• 40.0'
113.6' 26.0'
89.0'
*Asphalt Paving 1st floor 26872.0 sf
2nd floor 1920.0 sf
60.0' Total Sq Ft 28,792.0
Scale: 1=40
AREA CALCULATIONS SUMMARY BUILDING AREA BREAKDOWN
Code Description Factor Size Perimeter Totals Breakdown Subtotals
GEM. First Floor 1.00 26872.00 950.4 26872.00 First Floor
GBA2 Second Floor 1.00 1920.00 208.0 1920.00 13.6 x 26.0 353.60
60.0 x 89.0 5340.00
24.6 it 44.0 1082.40
80.0 : 244.0 19520.00
•
8.0 x 72.0 576.00
a
Second Floor
24.0 x 80.0 1920.00
•
U
Q
W
G
TOTAL BUILDING (rounded) • 28792 6 Areas Total (rounded) 28792
APEX SOFTWARE 8WIM-9958 4.710D.wAronll
5
LAND SALES SUMMARY SHEET
Sales
Sale Date of Sales Price Area Price/
No. Grantor/ Grantee Sale In per Sq. Zoning
SQ.FT. Ft.
Subject Dale L. Majors Assessors
2123 2nd Ave -- Value 56, 000 $0.90 IND
Greeley, CO $50,400
#096117102005
1 Terra Holdings/CG&S
2011 2 Ave 04/17/00 $125, 000 84, 679 $1 .48 IND
Greeley, CO
#096117102029
2 Winoco/Emmett
500 9th Street 12/04/98 $105, 000 76, 000 $1.38 IND
Greeley, CO
#096105422001
3 H. Williams/Agland
306 16th St . (rear) 5/05/00 $250, 000 84, 045 $2 .97 IND
Greeley, Co
#096108402001
4 Franklin/Cecil Farms
2015 2nd Ave 06/08/98 $50, 000 43, 560 $1 .14 IND
Greeley. Co
#096117102012
5 Schneider/McConnell
3022 1st Ave 02/26/99 $280, 000 102, 006 $2 .74 IND
Greeley, CO
#096121201020
Subject Site
The Subject site is a 56, 000 square foot rectangular, level,
industrial zoned, interior lot with good accessibility & visibility from
Hwy 85 .
The comparable land sales range from $1 . 14 psf to $2 . 97 psf . The mean
of the sales is $1 . 94 . The median is $1 . 48 .
As a result of the land sales study, a value of $0 . 90 psf has been
adopted as being applicable to the suject land area or $50, 400 .
6
WELD COUNTY ASSESSOR
Account#: R3462386 PROPERTY PROFILE Parcel#: 096117102005
MH Seq#: MH Space:
Building#: 1 Condo SF Condo%Land: Condo% Bldg: Landscaping QuaU$
Property Type: Commercial 0 1 Average $0.00
Quality: Average Nbhd: 6903
Occupancy: Storage Warehouse
Condition: Average Nbhd Ext: 00
Perimeter: 950 Nbhd Adj: 1
Percent Comp: 100.00%
Individual Built As Detail
Built As: Storage Warehouse Year Built: 1968
Construction Type: S Year Remodeled: 1979
HVAC: Space Heater % Remodeled: 0.66
Interior Finish: Adj Year Bit: 1975
Roof Cover: Effective Age: 15
Built As SF: 28792 Mh Make:
#of Baths: Tag Length/Width: X
#of Bdrms: Tag Length/Width: X
#of Stories: 1 Mh Skirting LF:
Story Height: 16 MH Skirting Type:
Sprinkler SF: Diameter:
Capacity: Height:
Building Details
Bldg#: 1
Loading Docks Filled Conc Walls & Floor 960 $7.50 $7,200.00
Concrete Slab Average 1662 $2.36 $3,922.00
Asphalt Average 8030 $1.51 $12,125.00
Value Details
RCN Cost/SF: $22.64 Design Adj %: 0 Func Obs Q/0: 0
Total RCN: $675,098.00 Exterior Adj %: 0 Econ Obs%: 0
Phys Depr%: 0.2 Interior Adj%: 0 Other Obs%: 0
Phys Depr$: 140848 Amateur Adj%: 0
RCNLD$: $534,250.00 RCNLD Cost/SF $18.56 Market/SF: $0.00
LAND 50,400.00
TOTAL $584,650.00
7
SALE COMPARISON APPROACH
COMP SALE NUMBER SUBJECT 1 2 _ 3 4 5 Subject Sale '
ADDRESS 21232Av 2111 2Av 15230 ST 701 Cherry 26268Av 5276Av 21232Av
GREELEY GREELEY GREELEY GREELEY Garden City GREELEY GREELEY
USE STOR WHSE Ser/Gar Light Industrial Light industrial Light Industrial Light Industrial Stor Whse
SALE DATE 06/15/00 08/31/98 09/09/97 03/07/97 07/25/97 02/28/95
SALE PRICE $536,000 500,000 800,000 855,000 737,500 450,000 920,000
SALES PRICE PEItt ,FR.L' --_--_-:41t62: *_, .! 5:0O $32:23 x{};51 $1$39 :$20i00, $24.14
LAND VALUE 50,400 73,475 113,964 277,913 116,100 28,500 106,053
BLDG. VALUE 485,600 426,525 686,036 577,087 621,400 421,500 813,947
SIZE SF 28,792 20,000 24,821 28,020 38,827 21,550 38,109
BLDG PRICE/SQ. FT. $16.87 21.33 27.64 20.60 16.00 19.56 21.36
YEAR BUILT 1974 1969 1995 1995 1945 1948 1974
EFFECTIVE YEAR 1985 1985 1995 1995 1970 1975 1985
ADJUSTMENTS:
-
BLDG SIZE 175840_ 79420 15440 -200700 144840 -186340
BUILDING AGE -68603 -57708 93,210 42150 0 ' '
QUALITY/INTERIOR _ -51183 -82324 0 '
NET ADJUSTMENTS 124657 -71507 -42268 -107490 186990 -186340
ADD BLDG VALUE 426525 686036 577087 621400 421500 813947
ADJUSTED BLDG VALUE 551182 614529 534819 513910 608490 627607
ADD SUBJECT LAND - 50400 50400 50400 50400 50400 50400
INDICATED VALUE 601582 664929 585219 564310 658890 678007
INI]ICATED i/A1 CIE P Sf - I- ',.$20.89 $23.09 - : $20.33 •$19;60 $22:86 $23.55
INDICATED-MARKET-VALUE- - -. 28792.sf X $2000 $575;840 rwi tided 4577:,8OO
"assessor's value
SUBJE T'S VALUE $18.61` - -
MEAN-OE=COMPS $21:36 _ Q
MEDIAN OF COMPS '$20;89 , o
COMPARABLE SALE 1
.x"1'• I x100'
le0' !O 0 i 120' i
I
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r4 t _ CPU C ir VON
WI
Wee 100.0
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,€e i _ Office Areas Truckers Lounge•
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SERVICE GARAGE
i 20000.0 at
PIN#, 3464486 PARCEL #: 096117102028
PRIMARY OCCUPANCY: SERVICE GARAGE
OFFICE:
2ND OCCUPANCY:
ADDRESS: 2111 2 AV GREELEY
' PROJECT:
SALE DATE: 06/15/00 BOOK #:
SALE PRICE: $500,000 RECEPTION #: 2775621
ADJ SALE PRICE:
GRANTOR: SECO OF BRUSH LTD
GRANTEE: EICHENBERGER L. CATHERINE
YEAR BLT: 1969 LAND VALUE: 73,475
EFFECTIVE AGE: 1985 ZONING I-M
BLDG SIZE: 20,000 LAND/BLDG RATIO: 3.67
CLASS: C IMPS PRICE/PSF: $21.33
CONSTRUCTION-QUAL: AVG SALE PRICE/PSF: $25.00
WALL HEIGHT: 16 CASH DOWN: $0
STORIES: 1 LOAN: N/A
BSMT SIZE: INTEREST RATE: N/A
BSMT FINISH: LOAN TERM (YRS): N/A
LAND SIZE: 73,475 POINTS PAID:
9
•
COMPARABLE SALE 2
)4,
PIN#, 0155890 PARCEL #: 96120101022
PRIMARY OCCUPANCY: IND LT'MANF
OFFICE: 17.00%
2ND OCCUPANCY:
ADDRESS: 152 30 ST GREELEY
PROJECT:
SALE DATE: 08/31/98 BOOK#:
SALE PRICE: $800,000 RECEPTION #: 2638201
ADJ SALE PRICE:
GRANTOR: SCHNELL GARY & JANE
GRANTEE: WHEELER PROPERTIES LLC
YEAR BLT: 1995 ZONING I-M
EFFECTIVE AGE: 1995 LAND/BLDG RATIO: 4.59
BLDG SIZE: 24,821 IMPS PRICE/PSF: $
CLASS: C SALE PRICE/PSF: $32.23
CONSTRUCTION-QUAL: AVG CASH DOWN: $325,000
WALL HEIGHT: 24 LOAN: NEW
STORIES: 1 INTEREST RATE: 8.00%
BSMT SIZE: LOAN TERM (YRS): 20 YRS
LAND SIZE: 113,964 POINTS PAID:
LAND VALUE:
REMARKS: THE SUBJECT SALE INVOLVED A 1031 TAX EXCHANGE
OAR 10%
1 0
•
COMPARABLE SALE
_ J .
PIN#, 6921198 PARCEL #: 096104401001
PRIMARY OCCUPANCY: LGT IND MANU
OFFICE: 20.00%
2ND OCCUPANCY:
ADDRESS: 701 CHERRY AVE GREELEY
PROJECT:
SALE DATE: 09/09/97 BOOK #: 1626
SALE PRICE: $855,000 RECEPTION #: 2568437
ADJ SALE PRICE:
GRANTOR: ARC DEVELOPMENT
GRANTEE: SUMMIT GROUP OF SOUTHERN WISCONSIN LLC
YEAR BLT: 1995
EFFECTIVE AGE: LAND/BLDG RATIO: 19.84
BLDG SIZE: 28,020 IMPS PRICE/PSF: $
CLASS: S SALE PRICE/PSF: $30.51
CONSTRUCTION-QUAL: AVG CASH DOWN: $855,000
WALL HEIGHT: 24 LOAN:
STORIES: 2 INTEREST RATE:
BSMT SIZE: LOAN TERM (YRS):
LAND SIZE: 555,826 POINTS PAID:
LAND VALUE:
REMARKS: THE SUBJECT BUILDING HAS 28,020 TOTAL SQ FT WHICH
INCLUDES A 5,520 SQ FT TWO STORY OFFICE. THE GRANTEE
WAS THE FORMER TENANT. OAR 10.39
H
•
COMPARABLE SALE 4
,
,z
h
PIN#, 3549086 PARCEL#: 096117316005
PRIMARY OCCUPANCY: WHSE/STOR
OFFICE:
2ND OCCUPANCY:
ADDRESS: 2626 8 AVE GARDEN CITY
PROJECT: BOOK#: 1595
SALE DATE: 03/07/97 RECEPTION #: 2537358
SALE PRICE: $737,500
ADJ SALE PRICE:
GRANTOR: AFTCO
GRANTEE: CORNFORTH JAMES W
YEAR BLT: 1945
EFFECTIVE AGE: 1970 LAND/BLDG RATIO: 1.50
BLDG SIZE: 38,827 IMPS PRICE/PSF: $16.
CLASS: C SALE PRICE/PSF: $18.99
CONSTRUCTION-QUAL: AVG CASH DOWN: $35,500
WALL HEIGHT: 14&18 LOAN: NEW
STORIES: 1 INTEREST RATE: 10.0%
BSMT SIZE: LOAN TERM (YRS): 23
LAND SIZE: 58,050 POINTS PAID:
LAND VALUE:
REMARKS: THE SUBJECT PROPERTY WAS A FORMER POTATO CHIP FACTORY WHICH WAS
PURCHASED ON 11/15/95 WITH THE INTENT TO CONVERT IT INTO MINI STORAGE
UNITS. BEFORE THE CONVERSION COULD BE COMPLETED, BUT AFTER MAJOR
CLEAN UP AND SOME REMODELING, THE SUBJECT SOLD AGAIN ON 3/07/97. THE
SUBJECT BUILDING WILL NOW BE USED FOR THE MANUFACTURING OF PLASTIC
BAGS FOR PRODUCE COMPANIES.
12
COMPARABLE SALE 5
{ ,
PIN#, 2802986 PARCEL #: 096105301013
PRIMARY OCCUPANCY: INDUSTRIAL LIGHT MANUFAC
OFFICE: 5.00%
1 2ND OCCUPANCY:
ADDRESS: 527 6 AVE GREELEY
PROJECT:
SALE DATE: 07/25/97 BOOK#: 1617
SALE PRICE: $450,000 RECEPTION #: 2559944
ADJ SALE PRICE:
GRANTOR: BREWER STEEL CO
GRANTEE: NORFOLK IRON METAL CO
YEAR BLT: 1948
EFFECTIVE AGE: 1974 LAND/BLDG RATIO: 1.32
BLDG SIZE: 21,550 IMPS PRICE/PSF: $19.56
CLASS: S SALE PRICE/PSF: $20.88
CONSTRUCTION-QUAL: AVG CASH DOWN: $450,000
WALL HEIGHT: 28 LOAN:
STORIES: 1 INTEREST RATE:
BSMT SIZE: LOAN TERM (YRS):
LAND SIZE: 28,500 POINTS PAID:
LAND VALUE: 28,500
REMARKS:
THE SUBJECT PROPERTY IS LAND POOR WITH A 1.32 LBR, BUT THE SALE DID
I INCLUDED THE RIGHT TO A LEASE OF APPROX. 10,000 SQ FT OF A VACANT LAND
ADJACENT TO THE SUBJECT (THE LEASE RUNS UNTIL 04/2072). THE DOCK FEE ON
THE SUBJECT DEED WAS RECORDED AS $27.50 BUT THE SALES PRICE WAS
VERIFIED TO BE $450,000 WITH MANFRED A. DIECK THE PRESIDENT OF BREWER
STEEL (THE SUBJECT HAD BEEN LISTED FOR $540,000 PREVIOUS TO THE SALE).
13
COMPARABLE SALE
SUBJECT
..tee Mt PIN: 3462386 PARCEL # : 96117102005
OCCUPANCY: WHSE/STOR
ADDRESS : '2123 2 AV GREELEY
PROJECT: 0
SALE DATE: 02/28/95 BOOK # : 1482 •
SALE PRICE : $920 , 000 RECEPTION # : 2428458
ADJ SALE PRICE:
GRANTOR: COUSINS LEASING CO
GRANTEE: DALE & EVELYN MAJORS
YEAR BLT: 1965/1972 LAND/BLDG RATIO: 3 . 09
BLDG SIZE : 38,102 IMPS PRICE/PSF: $21 . 84
CLASS : S SALE PRICE/PSF: $24 . 16
CONSTRUCTION-QUAL: AVG CASH DOWN: $675
WALL HEIGHT: 16 ' & 18' LOAN: ASSUMED
STORIES : 1 INTEREST RATE : 10 . 0%
BSMT SIZE : 0 LOAN TERM (YRS) : 30
LAND SIZE : 117, 837 POINTS PAID : 0
LAND VALUE: 88 , 378
REMARKS : SALE WOL PIN #3462286 . SALE INCLUDED A TRADE
OF 6 . 45 ACRES OF VACANT LAND ON WEST 10TH &
59 AVE (1031 TAX EXCHANGE) . 2 BLDGS : BLDG 1
28 , 785 SF WHSE (WITH 38 , 400 CU FT OF COOLING)
CLASS S, 16' WH. BLDG 2 9 , 317 SF WHSE, 18 ' WH,
CLASS S.
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07/23/2001
PROFORMA INCOME WORKSHEET
Parcel : 096117102005
Name: Dale L. & Evelyn E. Majors
Address: 2123 2nd Ave, Greeley, Co
Bldg Sq Ft Use
28,792 Stor Whse
Effective
Tax Rate Mill Rate Assm't Rate Tax Rate
0.09886 0.29 0.028669
Avg Rent PSF
Annual Annual Gross
Area Rent PSF Income
Army Natl Guard 9,536 $4.77 $45,487
J.R Race Cars 13,680 $4.00 $54,720
Vacant Space 5,576 $4.00 $22,304
Total PGI 28,792 $122,511
Main Fir FSF 28,792 $4.28 $122,511
Less Vacancy& Expenses
alatthY R/a: $24,502
4§$, ►dg
ate,
mgmt 5% $4,900
R/R 2% $1,960
Insurance 4% $3,494
maintenace 3% $2,940
water/sewer $800
legal/acct $1,624
Lease locator fee (20k/5yr term) $4,000
Sep h'(PQM $2.72 SMSti
Net Income/Overall Cap Rate = Property Value
Property Value
Value Per Sq Ft
Culp ilath 4 Et`tax ReS 4.100 0.2900 0.1$0 $602,230 $20.92
Total Value
soma d'propeNoe $00,200 $20:01
I6
07/18/2001
Gross Net
Comparable Bldg Year Income Income
Rentals Use Address Size Const'd Per Sq Ft Per Sq Ft
Knight Manf manf 701 Cherry, Grly 28,020 1995 $3.17
Steinbecker whse 2600 2nd Ave, Grly 24,767 1968 $3.50
Distortions manf 152 30 St Grly 24,821 1995 $4.25 $3.68
Federal Exp whse 1255 H St, Grly 24,590 1997 $4.17
Comm Supply whse 14136 Valley, Mead 20,250 1996 $4.90
BFI whse 1925 1 Ave, Grly 24,100 1981 $4.27
Army Natl whse 2123 2 Ave, Grly 9,536 1974 $4.77
JR Race Cars whse 2123 2 Ave, Grly 13,680 1974 $4.00
Range $3.17-$4.90
Mean $4.13
Median $4.25
•
17
CORRELATION AND FINAL ESTIMATE OF VALUE
Cost Approach $584, 650
Sales Comparison $575, 800
Income Approach $602, 200
The 2001 Assessor' s Office valuation $536, 000
•
LB
CERTIFICATION
The statements of fact contained in this report are true and
correct and the appraiser has not knowingly withheld any
significant information.
The reported analysis, opinions, and conclusions are limited only
by the reported assumptions and limiting conditions, and are my
personal, unbiased professional analyses, opinions, and
conclusions .
I have no present or prospective interest in the property that is
the subject of this report, and I have no personal interest or bias
with respect to the parties involved.
My analyses, opinions, and conclusions were developed, and this
report has been prepared, in conformity with the Uniform Standards
of Professional Appraisal practice .
I have made a personal on-site inspection of the property that is
the subject of this report .
No one provided significant professional assistance to the person
signing this report .
Prepared By: � d
Signature : �1f / Date : U7/Z7(bc
-License # CG0 680
19
Fig TAT TZATION SALES COMPARABLES
COMPARABT,F PIN# ASSESSOR'S ASSTGNFD VALUE PSF
SUBECT 3462386 $18.61
COMP#1 3464486 $25.00
COMP #2 0155890 $32.23
COMP#3 6921198 $32.00
COMP#4 3549086 $19.05
COMP #5 2802986 $20.85
20
et; 6
MeV CLERK TO THE BOARD
PHONE (970)356-4000 EXT 4217
FAX: (303)352-0242
WEBSITE: www.co.weld.co.us
915 10TH STREET
P.O. BOX 758
C. GREELEY, COLORADO 80632
COLORADO
July 19, 2001
MAJORS DALE L & EVELYN E
2911 GRANDVIEW DR
GREELEY CO 80631
Parcel No.: 096117102005 Account No.: R3462386
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of July 27, 2001, at or about the hour of
11:00 AM, to hold a hearing on your valuation for assessment. This hearing will be held at the
Weld County Centennial Center, First Floor Hearing Room, 915 10th Street, Greeley, Colorado.
You have a right to attend this hearing and present evidence in support of your petition. The Weld
County Assessor or his designee will be present. The Board will make its decision on the basis of
the record made at the aforementioned hearing, as well as your petition, so it would be in your
interest to have a representative present. If you plan to be represented by an agent or an attorney
at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office,
an authorization for the agent or attorney to represent you. If you do not choose to attend this
hearing, a decision will still be made by the Board by the close of business on August 6, 2001, and
mailed to you on or before August 10, 2001.
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.
At least two(2)working days prior to your hearing the Assessor will have available,at your request,
the data supporting his valuation of your property.
MAJORS DALE L & EVELYN E - R3462386
Page 2
Please advise me if you decide not to keep your appointment as scheduled. If you need any
additional information, please call me at your convenience.
Very truly yours,
BOARD OF EQUALIZATION
iatetialDonald
Warden,
Clerk to the Board
BY: /1f.,Lzfi� .
Carol A. Harding, Deputy
cc: Stanley Sessions, Assessor
BOE SUMMARY SHEET
Account Number R3462386 Parcel Number 096117102005
MAJORS DALE L & EVELYN E
2911 GRANDVIEW DR
HEARING DATE: July 27, 2001, AT 11:00 AM
HEARING ATTENDED? 1) NAME:
AGENT NAME: `�(Y
APPRAISER NAME: CCJ
DECISION
ACTUAL VALUATIONB ORIGINAL SET BY OARD
Land -5.O) V°47 $ 70000 $
Improvements OR iyerikeo
Personal Property 490130
Total Actual Value .T3lot cc n $ 560130 $ lo, CVO
COMMENTS:
MOTION BY 'EdTO 1 ^
SECONDED BY, �t7 / Geile -- )
Jerke -- N)
Failed to prove appropriate value Long - N)
No comparables given Masden -- N)
Assessor's value upheld Vaad - N)
Other
RESOLUTION NO.
2001-2047
Hello