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Home My WebLink About910739.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 1991, WELD COUNTY, COLORADO PETITION OF: B-R CO BOX B GREELEY, CO 80632 DESCRIPTION OF PROPERTY: PIN: R 1748686 PARCEL: 095901318035 - GR SI-B PT SW4SW4 1 5 66 STORAGE INN PROPERTY COMM SW COR SEC N88D46'E 466.70' N30' N88D46'E 494. 17' NOD51'W 10' TO TRUE POB NSSD48'E 61' NOD17'E 200.01' S88D48'W 65' SOD51'E 199.97' TO TRUE POB WHEREAS, the Board of County Commissioners of Weld County, Colorado, organized 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 1991, 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 1991, 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 clearly supported the value placed upon the property by the petitioner. As such, this Board finds that the petitioner partially met the burden of proving that the Assessor's valuation was incorrect. The assessment and valuation of the Weld County Assessor shall be, and hereby is, adjusted as follows: 910739 Page 2 RE: BOE - B-R CO ORIGINAL ADJUSTED Land $ 88, 123 $ 81, 778 Improvements OR Personal Property 50,377 21,822 TOTAL ACTUAL VALUE $ 138,500 $ 103, 600 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: 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 Distrr.2t 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 910739 Page 3 RE: BOE - B-R CO 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. 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 OBOE. 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. 910739 Page 4 RE: BOE - B-R CO The above and foregoing Resolution was, on motion duly made and seconded, adopted by the followin vote on the 30th day of July, A.D. , 1991. BOARD OF COUNTY COMMISSIONERS ATTEST/ay)); 4:44 7 WELD COUNTY C LORADO Weld County Clerk to the Board Gordon acy, rman J By: , Deputy Clerk to the___ George Kenne , Pro-Tem APPROVED AS TO FORM: (42-7-}c-e";±-24-e-e--X-ce-ew-e- - stance L. Harbert ,isistant County Attorney C. W�i ✓/�' iyi W. H. Webste 910739 BOE DECISION SHEET PIN #: R 1748686 PARCEL #: 095901318035 B-R CO BOX B GREELEY, CO 80632 HEARING DATE: July 30, 1991 TIME: 9:00 A.M. fit- ' HEARING ATTENDED? ®/N) NAME: P.i.2-Le4a4 r \r AGENT NAME: S'7� DECISION: DECREASE IN VALUATION INCREASE IN VALUATION NO CHANGE IN VALUATION ASSESSMENT RATIO ACTUAL VALUATION ORIGINAL ADJUSTED Land $ 88123 $ 7 J Improvements OR Personal Property 50377 -3/) g n- Total Actual Value $ 138500 $ dite) 11 !"00 COMMENTS: MOTION BY (3, Y TO jl kr.ait "TF, 412e-L 4;e)c.9 SECONDED BY ig,A.° Lacy N) Kennedy ) Failed to meet burden of proof Harbert N) Comparables inadequate Kirby N) X Assessor's data uarfii' Ad Webster N) X Other ` tocria-#ccdd RESOLUTION NO. 910739 UrllwI OI10111S lA ASS "UR 915 O1h lal l I GK 1'L1 ,CULORAI�U 80631 NOTICE OF ADJUSTM£N7 PHONE (,01) 756-4000. EX W I 6 £ INN PROPERTY COMM WSWCOR SEC N88D466$ COLORADO 466.701 N306 N88D461E 494. 171 NOD51IW 101 TO TRUE POB N88D48IE 616 NOD176£ 200.016 _ S88D481W 65• SOD511E 199.971 TO TRUE POD 3201 W 10 ST GRE€BEY .dry • .,.,,.-! /INNER ➢-R CO - -� b-R CO PARCEL 095901318035 PIN R 1748686 .. ; BOX B YEAR 1991 GREELEY CO 80632 LOG 02289 05/21/1991 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): Residential property is valued by considering the cost and market approaches. Agricultural land value is determined solely by the earning or productive capacity of the land, capitalized at a rate set by law. Producing mines are assessed at 25% of the gross proceeds or 100% of the net proceeds, whichever is greater. Oil and gas leaseholds and lands are assessed at 87.5% of the gross value of the oil and/or gas sold or transported from the premises on primary production;secondary production is valued at 75%. All other property, including vacant land, 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 fora 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 deter- mined the valuation(s) assigned to your property. The reasons for this determination of value are: THE ACTUAL VALUATION OF YOUR PROPERTY HAS BEEN ADJUSTED BASED UPON THE ADDITIONAL INFORMATION YOU HAVE PROVIDED. PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE ACTUAL VALUE ACTUAL VALUE OF VALUE_ PRIOR TO REVIEW AFTER REVIEW LAND 88; 123 88; 123 -1 IMPS 56;877 5C;377 _._L__ �I TOTALS $ $ 145; 000 $ 138;500 If you disagree with the Assessor's decision,you have the right to appeal to the County Board of Equalization for further consideration, 39-8-1061111a1,C.R.S. Please see the back of this form for detailed information on filing your appeal. By: WARREN L. LASELL 05 24/91 of/. WELD COUNTY ASSESSOR DATE �-' `�'� ' ""'J 6 Form Pa 207-87791 ADDITIONAL INFORMATION ON REVERSE SIDE `On HAVE THE RIGH f TO APPEAL.THE ASSEtSSOFI`s,DECISION The County Board of Equalization %Mil sit to,hear appeals beginning !July 1 and_cantinuing through August 10 for real property (land and buildings) andhper,spgal property( {furnishings,,machinery,And equipment). 39-8-104 and 39-8-107(2), C.R.S. . , , t. APPEAL PROCEDURES: If you shoo•e to appeal the Asse'ssor's decisiari, mail or Oliver one copy of this. completed form to the County Board of Equall`zafion. To preserve your right to appeal, your appeal must be POSTMARKED OR DELIVERED ON OR BEFORE JULY 15. WELD COUNTY BOARD OF EQUALIZATION J 915 10th Street, P.O. Box 758 .. _ Greeley, Colorado 80632 Telephone (303) 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 Inaii you a determination within five business days. The County Board must conclude their hearings by August 10. TAXPAYER RIGHTS FOR FURTHER APPEALS: If you are not satisfied with the County Board of Equalization's decision, you must file within thirty days cat the County Board of Equalization's decision to 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.U. Box C Greeley, Colorado 80632 Telephone (3W) 56.40p0 Ext. 452,0 ... -=Arbftratittor . r WELD COUNTY BOARD OF EQUALIZATION 915 '10th Street, P,O. Box 758 Greeley, Colorado 80632 Telephone (3013} :?56-4000, Ext. 4225 If you do not receive a determination from the County Board of Edualization,you must file an appeal with the Board of Assessment Appeals by September 18. C)) PRESERVE YOUP APPEAL RIGHTS, YOU MUST PROVE YOU HAVE FILED A TIMELY APPEAL; THEREFORE, WE RECONIMEND ALL CORRESPONDENCE BE MAILED WITH PROOF OF MAILING. PETITION TO THE COUNTY BOARD C...:3T EQUALIZATION In the space below, please explain why you disagree with the Assessor's valuation.Attach additional documents as nec_eissery. t s See statement attached 717/1 i� / SIGNATURE 0t? ETITICNE dIUn/5 �7+ —ewne — - -__-----__..----'-----2-111,0731- _ 550 Greeley National Flaza DATE Greeley, CO 80631 STATEMENT TO THE COUNTY BOARD OF EQUALIZATION The subject property is a parcel of land, approximately 200' x 65 ' , located at 3201 West 10th Street in Greeley, Colorado, and has a building located on it containing 1, 048 feet which is leased to a Baskin-Robbins ice cream store. All equipment and improvements inside the building are and will continue to be the property of Baskin-Robbins . The property is subject to a ten-year lease which expires at the end of 1992 . The lease is a "net-net" lease, which among other things, requires the tenant to pay the annual taxes . Apparently annual sales have been disappointing and the tenant has expressed doubt about renewing the lease, particularly in view of escalating expenses. In this instance, assuming that the mill levy remains the same, the 1991 taxes will increase by more than 150%. Since the building was built to the specifications of Baskin-Robbins and is merely a shell, if the lease is not renewed, the building would not be an asset but rather a liability since it would have to be razed. Theoretically, the property is to be assessed at its fair market value for the base year of June, 1989 to June, 1990 . The appraiser of this property indicated that he based its value on what was paid for the property ($138, 500) and then arbitrarily adopted a higher price ($145,000) as its current value. On initial objection, it was reduced to $138,500 . To do so is to ignore the reality of several factors, namely: A. The real estate market in Greeley has been extremely "soft" during the past four or five years and the real estate community has generally agreed that it has been a "buyer' s" market. B. With the lease as described above about to expire, and without the benefit o£ a multi-purpose building, a price for the land of between $50, 000 and $60, 000 or $4 to $5 a square foot is realistic . C. Using the comparable sales approach, and adopting the most optimistic county position, there are three sales, the details of which will be brought to the attention of the County Board of Equalization at the time of the hearing, which appear to be closest to the subject property and which were sold at a moment of time when the real estate market 04 ( ';31 - was solid fd1.983 through 1985) . The average price per square foot was $5.25, which would make the subject property valued at a price of no more than $90, 000 . It is apparent from the foregoing that the subject property is assessed at a figure which at a minimum is $50, 000 too high. Appropriate relief is respectfully requested. ` ,� "' ,'7 rti Cal 111 1_ JI cc {co I:, N C� i 3 iilt.--- _.. :,� ::� 1� �� x J 11\e,„ l';-, :`+° c !W I -�I{j JJ � 4 rd Q N i,) "/ a _ ro Ill _ w O N 'd M $4 w - 6 1-) O O O o0 W 0 la CO >i4-) tnO +-1cnrU O O 4 N O +) O >v Uo PO N ri rl rU • O a00 O O I-I • N 3O-1a, O O a 02• N Z , °m W a m O J a Q m • Z 45 J CI 0 F a m C1 < z O N y a 3 W J a of2 W a W J ll O >- X N J CO W 3 = a O 7 0 X 0 C X . CLERK TO THE BOARD P.O. BOX 758 1p GREELEY,OOLORADO 80832 (303)3584000 EXT.4225 C. COLORADO July 16, 1991 Parcel No. : 095901318035 PIN No. : R 1748686 B-R CO BOX B GREELEY, CO 80632 Dear Petitioner(s) : • The Weld County Board of Equalization has set a date of Tuesday, July 30, 1991, at or about the hour of 9:00 A.M. , 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 Hearing Room. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor will be present before the Board. The Board will make their 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 10, 1991, and mailed to you on or before August 16, 1991. 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. B-R CO - R 1748686 Page 2 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. 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, B D OIEQ LIZy .IoNd 47 Donald D. Warden, Clerk to he Board BY: Carol A. Ha ding, Deputy cc: Warren Lasell, Assessor '! _ , -_ - INOr/1 -ET. 7- PPRoI1C-171 T✓t /ear 71-)--,p/-e- net �-Ens-� -Ar 75-0, OO 1)-er PLO, GvA/c/h -eyioi r e_≤ in /992 .5o X is xo. - //, 4zoo_ /J/e/- Zhcopn - - - - -// '/DD /1/e f _ //X Cctp ,Ra+e_ n /Q3, (0-30 ! , - - - - L A N D TAA PS - 707"-,4 L _ ire-Sev\i _ VQht-e- _ 253,/23 X63-77 /-3S7_5-0a _ ecotmrn-evKlect V�tkute- - SI,-778- _ - al Sat - /03, COOL �u re has -.3- Pr ;c)-e_ _-k r` /73V /_8-5DD -I ExH,IAAT !�H b - py7 'rn s-e y v S fa S'Ir . 131 N ` . . S co \ \ @ / - cn ) / ) N . $ Q \\ \ % \ \ . / 01 1/40 CI ~ . / / \ \ E @ @ \ §co \ \ \ \ r . r ° § ) (co . \ \ I ) / / . . -C./} . . . . 01 \ § m § . . . ) \ ~ ( / e o IC CO CO CO 00 ) § co I----& CO / ,g 2 co 5 ( \ ) ) . \ .. § ^ 4 R & ) . \ . § \ \ / / , . . § / ) CO § G \ ) S 229 , COMPARABLES FOR B-R CO. APPEAL TO COUNTY BOARD OF EQUALIZATION: Re: Tax Year 1991 Schedule No. 095901318035 No. R17486861 1. Wheeler Realty/Maverick Investors deed recorded in Book 1116 Reception No. 2057496 and is dated in May of 1986. This property is known as Market Square and the price was $3.93 per square foot. 2. Clarkson/Cable's End deed recorded in Book 1086 under Reception No. 2026962. Deed was dated in October of 1985. Property is known as Cable's End Restaurant. Price was $6.82 per square foot. 3. West Patch/Restaurants West Inc. deed recorded in Book 1046 under Reception No. 1984650. Deed was recorded in October of 1984. Property is occupied by Wendy's Fast Food Restaurant. Price was $6.82 per square foot. 4. Triple D Investors/Reger, et al deed recorded in Book 997 under Reception No. 1928474 in May of 1983. This property is occupied by a pool hall known as "The Break". 5. Central Bank to unknown purchaser under contract. Contract is dated in 1990. Price is $5.00 per square foot. The average of the five sales is $5 .80 a square foot. The land in question contains approximately 12,000 square feet or a cost of $69,600.00 or evened out to $70,000.00. The total cost of the above described sales divided by the total square footage of said sales results in a cost of $5.28 a square foot or a total cost of $63,360.00 evened out to $64,000.00. This compares to the land value for the 1991 assessment of $88,123.00. EXHIBIT # 13 118W t- L. l r o "/ ...... cci T. x ,, W lit2 7„,.., 4 , .6. .. i t nn V �` 1 � Do s , � -4. O r A ^. Y �i--- . J y . e, —4 • Hello