HomeMy WebLinkAbout20001801.tiff RESOLUTION
RE: THE BOARD OF EQUALIZATION, 2000, WELD COUNTY, COLORADO - DENY
PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE
PETITION OF: EASTMAN KODAK CO
CORP TAX DEPT -ATTN MARK CAMARATA
343 STATE ST
ROCHESTER, NY 14650
DESCRIPTION OF PROPERTY: ACCOUNT#: R0128087 PARCEL#: 080726000039 -
23538 W2 26 6 67 & E2SE4 & E2W2NE4 & E2NE4 27 6 67 & N2NW4 35 6 67 & ALL 34 6 67
EXC N2NW4 & N2SW4 ALSO EXC REC#1524120 ALSO EXC BEG S4 COR SEC
S84D16'W 438.07' N925' W2683.99' N13D20'W 35.38' N88D12'E 326.96' N75D09'E 90.32'
S74D11'E 112.97' S89D47'E 890.75' S89D43'E 1157.23' N65D59'E 77.05' N18D50'E 157.99'
N46' E1890.53' S990.49' S84D16'W 1461.93' TO BEG (8D 14R) %9952 EASTMAN PARK
DR%
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 2000, 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 2000, 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 Norman Wright, Holme Roberts and
Owen, 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:
2000-1801
// AS0046
L'C' ; /J�-T,) ,A�CA� A-SS/C
RE: BOE - EASTMAN KODAK CO
Page 2
ACTUAL VALUE
AS DETERMINED
BY ASSESSOR
Land $ 3,885,078
Improvements OR
Personal Property 69,709,789
TOTAL ACTUAL VALUE $ 73,594,867
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), 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)
2000-1801
AS0046
RE: BOE - EASTMAN KODAK CO
Page 3
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.
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 1st day of August, A.D., 2000.
BOARD OF COUNTY COMMISSIONERS
/f WELD COUNTY, COLORADO
J / nth EXCUSED —_
mil" V 14Mj Barbara J. Kir eyer, Chair
eld y Clerk to the Board
• ! M. J. ile, Pro-Te — —
Ou ty Clerk to the Board er Cc.
nV Qegrge E. Baxter
APPROVED AS TO FORM:
Dale tf.7Hall
iLf.ttorneyl(I t, f1 M
As i.tant C my Attorney o ,t
Glenn Vaad
2000-1801
AS0046
•
NOTICE OF DENIAL
J OFFICE OF COUNTY ASSESSOR
i t:\ 23538 W2 26 6 67 & E2SE4 & E2W2NE4 1400 NORTH 17th AVE.
& E2NE4 27 6 67 & N2NW4 35 6 67 & ALL GREELEY,CO 80631
34 6 67 EXC N2NW4 & N2SW4 ALSO. PHONE(970).;53-3845,EXT.3650
EXC REC #1524120 ALSO EXC BEG S4 .
COR
N13D20'W W2683.99' 35.38' N88D12'E
COLORADO OWNER: EASTMAN KODAK CO
EASTMAN KODAK CO LOG 1016
CORP TAX DEPT - ATTN MARK CAMARATA PARCEL 080726000039
343 STATE ST ACCOUNT R0128087
ROCHESTER, NY 14650 YEAR 2000
Tax Rep: HOLME ROBERTS & OWEN
06/06/2000
The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor ha;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 ha;determined We
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
LAND 3885078 3375078
IMPS 69709789 697 ;9789
TOTALS $ S 73594867 359aa6't
If you disagree with the Assessor's decision,you have the right to appeal to the County Board of Equalization for further consioerat ion,39-8-
106(1)(a),C.R.S. Please see the back of this form for detailed information on filing your appeal.
06/06/2000
By: Stanley F. Sessions -
WELD COUNTY ASSESSOR DATE
15-DPT-AR
Form PR-207-37/98 ADDITIONAL INFORMATION ON REVERSE SIDE
%�; «r.
YOU HAVE THE RIGHT TO APPEAL THE ASSESSOR'S DECISION
The County Board of Equalization will sit to hear appeals beginning July 1 and continuing through August 5 for real
property (land and buildings) and personal property (furnishings, machinery, and equipment) 39-8-104 and 39-8-
107(2), C.R.S.
APPEAL PROCEDURES:
If you choose 1:o appeal the Assessor's decision, you must appeal to the County Board of Equalization. To preserve
your right to appeal, your appeal must be POSTMARKED OR DELIVERED ON OR BEFORE JULY 15 FOR
REAL PROPERTY, AND JULY 20 FOR PERSONAL PROPERTY.
WELD COUNTY BOARD OF EQUALIZATION
915 10th Street, P.O. Box 758
Greeley, Colorado 80632
Telephone (970)356-4000 Ext. 4225
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 their hearings 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 '1 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 10.
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.
Eastman Kodak Company believes the actual value of the subject property is$19.2 million(plus the actual value assigned to 'agricultural
land," which is not protested). The taxpayer's value is based primarily on consideration of comparable sales. Kodak disagrees with the
assessor's valuation because it is excessive, and Kodak believes the assessor's valuation is excessive because it fails to give sufficient
consideration to comparable sales transactions. Attached is a copy of Kodak's protest to the assessor in this matter,to which is attached a letter'
authorizing the undersigned to represent Kodak in this matter.
EASTMAN KODAK COMPANY
:� -- July 14, 2001)
VAIL
nes hitter(#6325)
olme Roberts&Owen LLP
1700 f.iocoln St.,#4100, Denver, CO 80203 Attorneys for Petitioner
Holme Roberts &Owen LLP
July 14, 2000 ��0
Certified Mail
Return Receipt Requested
Weld County Board of Equalization
P.O. Box 758
Greeley, CO 80632
Re: Petitioner--Eastman Kodak Company
Weld County Real Property Tax(Tax Year 2000)
Account No. R0128087
Parcel No. 080726000039
Ladies and Gentlemen:
James D.Butler
x30.3)866-0440 Enclosed is a Petition to the County Board of Equalization for filing with your
Luder)@hro corn office. A letter authorizing this firm to represent Eastman Kodak Company in this
matter is attached to the petition. Please send the notice of hearing for this matter to
me at the above address.
Attorneys at Law
1700 Lincoln Street I will be out of the country on July 26, 27 and 28. 1 would be most grateful if
Suite 4100 Kodak's hearing before the County Board of Equalization could be scheduled fot
Denver:Colorado a date other than those dates.
W203-4.541
Tel(303)861-7000 Thank you for your assistance in this matter.
Fax(303)866-0200
www.hro.cum Very truly yours,
Denver
Sa6 Lake City HOLME ROBERTS & OWEN LLP
Boulder
Colorado Springs � �.
London
ames D. Butler
JDB/pg
Enclosures
cc: Mr. Mark Camarata
Mr. Tom Larkin
4638377v1
Holme Roberts & Owen LLP
May 26, 2000 Mill .
I
p ll
Certified,Mad --
Return'Receipt Requested
Stanley Sessions
Weld County Assessor
1400 North 17th Avenue
Greeley, CO 80631
Re: Eastman Kodak Company
Weld County Real Property Tax(Tax Year 2000)
Account No. R0128087
Parcel No. 080726000039
Dear Mr. Sessions:
James D.Butler
(303)866-0449 Our client, Eastman Kodak Company("Kodak), is the owner of the real property
bath,;@hro.com included in Weld County account number R0128087 (parcel number 080726000039)
(the"Protested Property"). We understand that your office has assigned a total actual
value of 573,307,672 (net of the actual value assigned to land classified as
"agricultural200 e
land," which is not protested)to the Protested Property for property tax year
Attorneys at Law the attached"Weld County Assessor Property Profile"). Pursuant to Colorado Revised
1700 Lincoln Street Statutes section 39-5-122, Kodak hereby protests that valuation on the grounds that it is
suite 4100 excessive and requests that you review the valuation and reduce it to its correct actual
Denver,Colorado value.
80203-4541
Tel(303)861-.'000 A letter authorizing us to represent Kodak in this matter is attached. Please send notice
Fax(303)866-0200 of your decision to Kodak at the address listed on the attached Weld County Assessor
Property Profile and to the undersigned at the above address.
mmm.hro.cam
Denver Thank you for your consideration-
Salt Lake City
Boulder Very truly yours,
Colorado Springs
London HOLME ROBERTS & OWEN LLP
amen D.D. Butler
JDB:pg
Enclosures
cc: Mr. Mark Camarata
Mr. Tom Larkin
May-24-00 12 : 32
WELD COUNTY ASSESSOR
PROPERTY PROFILE Parcel#: 080725000039
Account#: R01280877MN Seq#: MN Space:
Appr Year: 2000 Levy:
84.945 # of Bldgs: 1 Active On: 2/4/2000
Tax Dist: 0429 Map#: 2175 LEA: W1ND05 InactiveOn:
Assign To: SC1J Initials: MAH Acct Type: industnal Last Updated: 2412000
Property Address:
Owner's Name and Address: _._
,
- Street 9952 EASTMAN PARK DR
EASTMAN KODAK CO City: WINDSOR
CORP TAX DEPT-ATTN MARK CAMARATA
343 STATE ST
ROCHESTER NY 14650
Business/Complex:
Sales Summary
Legal Description
23538 W2 26 6 67&E25E4 8 E2W2NE4&EZNE4 27 667 8 N2NW4 35 6 67&ALL 34 6 67 EXC N2NW4&N2SW4 ALSO EXC RFC rr 524120 :a.._:
EXC BEG S4 CO!R SEC S84016W 438.07'N925'W2683.99 N13D20'W 35.38'N88D12'E 326.96'N75009'E 90.32'574011E 112.97 589D47'E 894
.75
589043'E 1157.23'N65059'E 77.05' N18050'E 157.99 N46'E1 B90.53'S990.49'584016W 1461.93'TO BEG(80 14R)%9952 EASTMAN PARK 3R',
Land Valuation Summary
"" --" " - _ Unit of Number Of Value Per Assmt "Assessed
.. _d T �" _._.. Measure Units Unit Actual Value Percent Value LanIrcu Type
Ag Code Abst Code
Ircuslrral 3115
Acres 329 40.00 53.641.695.00 6 29 S1.256.091 =5
C VII Acres 186.22 56.58 $1.225.33 0.25 i35s. -5
Agricultural 4147
Agricultural V I 4117
Acres 241.51 5648.00 5156.498.48 0.25 55.334 313
Agricultural
M III 4117 Acres 60.8 5386.92 523.524 74 0 26 56.32_ +-"
Agricultural
N II 4117 Acres 18.5 5528.54 59,:'77 99 0.2' s: 535 52
Ayrscultural 0 II 4117
Acres 99.06 $528.54 552,357 17 C"2`, $1 '83 i--'-
935.09 53,885,078.71 51.125.570.00
Land Subtotal: - ---
Buildings Valuation Summary
Actual Assmt 'Assessed
Abst Value Percent Value
Bldg # Property Type Code Occupancy Valuee t $20.:V 5 ue9
1 Commercial 3215 334 - Indust l ght Manufacturing $69,7 69.709,789 7.00 52$201215 S 0;
Improvements Subtotal:
_ __ - Pace ` cr
Tuesday. April 04. 2000
May-24-00 12 : 33
WELD COUNTY ASSESSOR
PROPERTY PROFILE Parcel #: 080726000039
Account#: R0128087 =
MH Seq#: MM Space:
Total Property Value $73,551,056 $21,342,510
'Approximate Assessed Value
•
Tuesday. Acrl 04, 2000 =age 2 of
MAY-26-00 FRI 02: 13 PM FAX NO. ' 01
May 26,2000
To Whom It May Concern:
Eastman Kodak Company ("Kodak") is the owner of certain real property located in
Weld County, Colorado, including without limitation the real property included in Weld County
account number R0128087. Kodak has authorized Holme Roberts & Owen LLP, acting through
any of its attorneys, to execute and file on Kodak's behalf and to prosecute as necessary any and
all protests and appeals of the actual values assigned to Kodak's real property located in Weld
County, Colorado, including without limitation the real property included in Weld County under
account number R01230S7, for property tax year 2000.
EASTMAN KODAK COMPANY
Date: S— 2 C;— By
Name: Mark S. Camarata
Title: Director, State and Local Taxes
dilliS3
(1;/ \tti
CLERK TO THE BOARD
Atr, 41p4H4:' PHONE (970) 3564000 EXT 4217
FAX: (303) 352-0242
WEBSITE: www.co.weld.co.us
915 10TH STREET
P.O. BOX 758
C. GREELEY, COLORADO 806:2
COLORADO
June 21, 2000
Parcel No.: 080726000039 Account No.: R01280t7
EASTMAN KODAK CO
CORP TAX DEPT - ATTN MARK CAMARATA
343 STATE ST
ROCHESTER NY 14650
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of Tuesday,August 1, 2000, at or about the
hour of 1:00 PM, to hold a hearing on your valuation for assessment. This hearing will be held at
the Weld County Centennial Center, 915 10th Street, Greeley, Colorado, in the First Floor Hearinci
Room.
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 it 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, 2000, and
mailed to you on or before August 10, 2000.
Because of the volume of cases before the Board of Equalization, all cases shall be limited to I fi
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.
EASTMAN KODAK CO - R0128087
Page 2
Please advise me if you decide not to keep your appointment as scheduled. If you need an/
additional information, please call me at your convenience.
Very truly yours,
BOARD OF EQUALLII TION
XLu
Donald D. Warden,
Clerk to the Board
/ _
Carol A. Harding, Deputy
cc: Stanley Sessions, Assessor
JAMES D. BUTLER
HOLME ROBERTS & OWEN, LLP
1700 LINCOLN STREET STE 4100
DENVER CO 80203-4541
EASTMAN KODAK COMPANY
WELD COUNTY,COLORADO REAL PROPERTY TAX(1999 THROUGH 2002)
LIST OF REPRESTENATIVE COMPARABLE SALES TRANSACTIONS(UNADJUSTED SELLING PRICES;
GREATER THAN 1.0 MILLION SF; NO MATERIAL EXCESS LAND;DESIGNED AS SINGLE USER FACILITIES)
BUYER SALE SALE BLDG YEAR SITE SF LAND: UNADJ PRICE
NO. LOCATION SELLER DATE PRICE SQ FT BUILT ACREAGE SF IMPS PER SQ FT
SUBJECT 3,189,195 1969-95 329.00 4.49
Part I: Sale of Kodak Elm Grove,New York,facility:
1 901 Elmcirove Rd. Cont.Indus.Cap LLC Jun-00 $ 32,000,000 5,283,502 1966-83/89 - 568.00 4.68 $6.06
Gates,New York Eastman Kodak Co.
Part II: Other comparable sales transactions from January 1,1997 through June 30,1998:
•
2 US 9 West @ Route 209 AG Prop LLC Feb-98 $16,600,000 2,507,935 1955-66/90 258.32 4.49 $6.62
Ulster,New York IBM
3 9301 W 55th Street _ CenterPoint Oct-97 $9,600,000 1,700,000 1951 155.00 3.22 $5.65
McCook, Illinois GM
4 4300 E 5th Avenue 4300 E 5th LLC Oct-97 $15,300,000 2,539,000 1941-63 179.97 3.09 $6.03
Columbus,Ohio USGSA
5 _ S.F.Bristol LLC Sep-97 $4,300,000 1,250,000 1967-68 182.00 6.34 $3.42
Bristol,Connecticut GM
6 Willow Run Bus.Ctr. Mar-97 $10,600,000 2,166,600 1943;1959-97 126.00 2.53 $4.90
Ypsilanti Michigan GM
Average of this pan 2,032,707 3.93 $5.32
Median of this part 2,166,600 3.22 $5.65
Part III: Other comparable sales transactions West of Mississippi from July 1,1993 through December 31,1996:
7 15th&Cleveland Street GSA for USPS Dec-95 $13,500,000 1,205,787 1965 41.97 1.52 $11.20
Kansas City,Missouri Sears Roebuck&Co
8 200 E 90th _ Petersen Properties Sep-95 $10,500,000 2,420,836 1967 202.97 3.65 $4.34
Davenport, Iowa Caterpillar Corp.
9 13430 N Black Canyon CMB LLC Oct-94 $13,250,000 962,000 1955-81 101.00 4.57 313.77
Phoenix,Arizona Bull HN Info Systems
10 2500 Kearney Street _ Sportsman Park Jun-94 $10,000,000 1,681,032 1967-81 123.60 3.2 $5.95
Springfield,Missouri Zenith
Average of this part 1,567,414 3.24 $8.81
Median of this part 1,443,410 3.43 $8.57
Average of all 2,171,669 3.73 $6.79
Median of all 1,933,300 3.44 $5 99
The information in this document is offered solely for the purpose of facilitating settlement discussions between Eastman Kodak Company and
Weld County. The information in this document is not an admission of any issue of fact or law. Eastman Kodak Company believes fiat the
information in this document is accurate but reserves the right to alter any of the information based on further investigation of the trans.
listed. : EXM SIT
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