HomeMy WebLinkAbout930736.tiff RESOLUTION
RE: THE BOARD OF EQUALIZATION, 1993, WELD COUNTY, COLORADO
PETITION OF:
KENNEDY HARRY L & BERNICE D
780 N 9TH AVE
BRIGHTON, CO 80601
DESCRIPTION OF PROPERTY: PIN: R 6297986 PARCEL: 147131006008 - BRI BIP3-8
L8 BLK3 BRIGHTON INDUSTRIAL PARK LIMITED
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 1993, 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 1993, 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 Robert Boich, Attorney, 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 Petitioner's property 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:
930736
Page 2
RE: BOE - KENNEDY HARRY L & BERNICE D
ORIGINAL
Land $ 22,250
Improvements OR
Personal Property 178,311
TOTAL ACTUAL VALUE $ 200,561
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 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
930736
Page 3
RE: BOE - KENNEDY HARRY L & BERNICE D
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 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.
930736
Page 4
RE: BOE - KENNEDY HARRY L & BERNICE D
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following/g 1vote on the 30th day of July, A.D. , 1993.
ATTEST: tc tl/Gliia WEL COUNTY,BOARD OF COUNTY, COMMISSIONERS
COLORADO
Weld County Clerk to the Board // cter O�
(/)(,,,tzitY
onsttancceL. Harbert, /ghair�man
BY: �jz, _/.{� / V fil ft7h7puty Cler to the Bo W. H. bster, Pro-T m
APPR AS TO FORM:7
._, , 1 l eorg , Baxter`1��
County A torney "D'ale K. Hall
A
4 . t/ �
Barbara J. Kirkme /
930736
'act f93-
BOE DECISION SHEET
PIN It: R 6297986 PARCEL I/: 147131006008
KENNEDY HARRY L & BERNICE D
780 N 9TH AVE
BRIGHTON, CO 80601
HEARING DATE: July 1993 TIME: 4:00 P.M.
HEARING ATTENDED? ( '/N) NAME: -Pc, Be, r c �.., ) A..f FrD\, nc
AGENT NAME:
APPRAISER NAME: 7? CP ) 4t a.) ry,r:e(
DECISION:
DECREASE IN VALUATION
INCREASE IN VALUATION
NO CHANGE IN VALUATION )L
ASSESSMENT RATIO
ACTUAL VALUATION
ORIGINAL ADJUSTED
Land $ 22,250 $ c9 D16-72
Improvements OR
Personal Property 178, 311 / 7S7 3 f
Total Actual Value $ 200,561 $J-{-r0) t-fp
COMMENTS:
MOTION BY TO - 1:).rj 11 � Lw (.O_12D
SECONDED BY t) Baxter -- ,0N)
Hall -- N)
Failed to meet burden of proof Harbert -- OtN)
Comparables inadequate Kirkmeyer -- Y N)
Other: Webster -- Ye )
RESOLUTION NO.
930736
ROBERT W. BOTCH
ATTORNEY AT LAW ',.
8400 EAST PRENTICE AVENUE -�
PENTHOUSE - --.
ENGLEWOOD, COLORADO 80111 7
•
303-267-0659
FAX 771-4562
July 14 , 1993
Weld County Board of Equalization
PO Box 758
Greeley, Colorado 80632
Re: APPEAL OF ASSESSOR' S DENIAL OF REVALUATION OF REAL PROPERTY
Parcel #: 147131006008
Pin #: R 6297986
TO WHOM IT MAY CONCERN:
The services of my firm have been retained by the owner of the
above referenced parcel of real property located ion Weld County.
This letter shall serve as formal notice of my Client ' s desire to
appeal the county assessor ' s valuation of the property here in
question. I have attached a copy of the assessor ' s denial of my
Client 's original protest.
The key areas of dispute involve the market approach to the
value of the property and the income approach to the value of the
property.
As to the market approach issue, It is our belief that the
appraisal which the assessor is using to value the property is in
error. The Taxpayer used to own both 780 and 790 North 9th Avenue.
The appraisal which the property value is based on was for both the
780 and 790 property combined.
The Taxpayer sold the property at 790 North 9th Avenue in
November of 1992 . breaking those parcels By real-...,j Uy^^.. �_::� C t5iG the value of 780
North 9th Avenue was substantially diminished. The assessor has
failed to take this into consideration.
As to the income approach, the division of the two parcels,
and the sale of the 790 North 9th Avenue property has severely
decreased the value of the 780 North 9th Avenue property. The
reason for this is that all of the positive cash flow was coming
from the property at 790 North 9th Avenue .
The units at 790 North 9th Avenue realized a positive income
stream of $10, 800 last year. The units at 780 North 9th Avenue
realized a negative cash flow (loss) of $2 , 400 last year.
cc .93073S
Based on this information alone it is obvious that the
property here at issue should not have increased in value from
approximately $150, 000 to over $200, 000 .
It is because of these facts that the Taxpayer hereby requests
a hearing in order to present evidence which will support his
contention that the property here in question has not bee properly
valued for tax purposes.
Please don't hesitate to contact me if I may answer any
questions, or be of any further assistance, at this time.
Sincerely, e
Robert W. Balch
'•" i73S
OFBICE OF COUNTY ASSESSOR
1400 NORTH 17th AVE.
L L�t GREELEY.COLORADO$0631
PPTI CE OF DENIAL PHONE(303)753-3845,EXT. M56
lilt, DR DI P3-8 LE BLK3 **TOMTON INDUSTRIAL PARK
LOB • ; --, E - LIMITED
i;,1 , , .-. . .780 N 9 AV BRIGHTO
OWNER KENNEDY HARRY L S BERNICE D
KENNEDY HARRY L 6 BERNICE a PARCEL 147131006008
PIN R 6207986
780 N 9TH AVE YEAR 1993
BRIGHTON CO 80601 LOG 01353
95/24/1993
'!;„ appraised value of property is based on the appropriate consideration of the approaches to value required by law.TheAssessor has determined
t, your property should be included in the following caeegoryciesl:.
SIDENTIAL PROPERTY IS VALUED BY CONSIDERING,THE MARKET APPROACH.
ICVLTURAL LARD VALUE IS DETERMINED .SOLELY, BY THE EARNENG OR PRODUCTIVE
PAC ITT OF THE LAND, CAPITALIZED At A RATE SET BY LAY.
L OTHER PROPERTY, INCLUDING VACANT LAND, IS VALUED NY CONSIDERING THE cost.
RKET* AND INCOME APPROACHES.
I.i, our concern is the amount of your property tax,local testing authorities{county,city,fire protection, and other special distticts) hold
t t hearings in the fall.Please refer to your tax bill or ask your Assessor for a fistintiof these districts.and plan to attend these budget hearings..
l Assessor has carefully studied all available information,giving particular attention to the specifics included on your protest and has deter-
r ed the valuation(,)assigned to your property.The reasons for this determination of value are;
ND posse HAS BEEN MADE TO THE ACTUAL VALUATION OF'TN1s PROPERTY*
COLORADO LAN REQUIRES US TO SEND-TREE NOTICE OF DENTAL FOR ALL
PROPERTIES OS WHICH NE DO NOT ADJUST THE VALUE,
A 1982 COLORADO tONSTITUYIQNAL CNARSE REQUIRES COMMERCIAL PROPERTY
TO BE VALUED BASED ON THE 1992 LEVEL OF ACTUAL VALUE AND ASSESSED AT
29% FOR 1993. REPLAC ERE NT-COST OF CONSTRUCTION MATERIALS, MARKET
VALUE AND INCOME DERIVED- FROM THE PROPERTY ARE APPROACHES USED TO
DETERMINE THE ACTUAL VALUE OF YOUR PROPERTY. YOUR VALUATION IS
SUPPORTED BY THE APPRAISAL PROCtDURES RIMED at LAN.
PROPERTY PREVIOUSLY UNDER VALUED.
PROPERTY CLASSIFICATION PETITIONER'S ASSESSOR'S VALUATION
ESTIMATE ACTUAL VALUE ACTUAL VALUE
OF VALUE PRIOR TO REVIEW AFTER REVIEW
LAND t
22,250 22,280
'i IMPS
178,311 178,311
•
'I'r
`, TOTAtS S•: $
disagree with the Assessor's decision,you have the to appeal to the 2DD further $ 2..e,,ss t
06(11(a),C.R.S. Meese see the back of this form tor detailed lnfonintion oARtly Board of peal, anon for further consideration,
*Mina your sip{waai.
Wilt EN L LASELL
06/02/x:,;
WbLi`1_ fuNTr ASSESSOR - - - tiAT€ 05
.:
R3073S
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1
PERSONAL PROPERTY PROTEST FORM
•
• YOU MAY ELECTTO COMPLETE THIS FORM TO PROTEST YOUR PROPERTY VALUATION.
PERSONAL PROPERTY VALUATION PROTESTS: If you disagree with the current year eotuai
•
value'-determined fw your property,you may fie a protest by mail or rn person with the County Al.seAtsor.Rem refer to the Protest Procedures fur the deadline dates for filing protect.,
Completing the Personal Property Ouestionrrarm wilt help you determine an estimate of value for your
property, which oars be compared to the value determined by the Assessor Colorado law requeet
consideration of the cost,market.anti income approaches to value for personal property.
DOCUMENTATION-REASON FOR REQUESTING A REVIEW:
•
_ ---
PERSONAL PROPERTY QUESTIONNAIRE
ATTACH ADDITIONAL DOCUMENTS AS NECESSARY
MARKET APPROACH: This approach to value uses sales h
value ofyour err' pf kit s year to determine the actual
property on January t of this year The following items,if Itrown.will help you estimate the
market value of your property.
11 available.attach a copy of ary;sppraisat or written estimate of value,if conducted durirp9 the previous year.
Harve similar propertjos sold during the previous year?
DATE SOtn It'6M
SELLING PRICE
•
SeSetl on thes63sfes andaccoumrng for diftersr,Ges between Aoki proper les and your property,what do you
believe VourproPertywould hare staid for on January 1 of this year, $
•
COST APPROACH:This approach tovalue uses reClacement cost new.less depreciation.*0 determine o',a:tie of your property on January 1 of this year stmine the
ttEm__ — Estimated ftaplacarneti Cost New$
.Source _ ....
•
He a changes been made toes a property. i.e.refurbishing.recunditaning:addition of components:etc?
YES ff
Y give date,description,and estims;e cost:
DATE DESCRIPTION OF CHANGE
COST
•
Is your equipment in typicaf condition fur its age? R riot,why? --
Rased on the original cost of aoduisition and the cast of any wee,less depreciation,estimate the total
value of the property as of January t of this year,S___ _
. • . . I NCOME APPROACH: this approach towfoe converts —
present worth art January 1 of this year, f rtorr x net from theprevia,s alas.Imo
If Your property welt rented or leased during the previous year,attach operating statements showing rental
•
and expense amounts for this property.
If known.list rents of comparable equipment naptrtiated during the previous year-
•
If an aPPalbel Velrlg Infer ir7GDrte approach was
+ctsd dUttinth!previous year,please attach.
FINAL ESTIMATE OF VALUE$_
AGENT ASSIGNMENT: Iauthorizethebefow-..siltedag�tmtacron mybehelf regarding the property tat
valuation of the property described herein for the Yeg(,__)y93,
Agerttyllferrrefoam*pn Robert Boith Tale hurteNum 267—Ob.59
ner 8 C her:,._.9 3
'./ Daee:suly 14, 11993 �"
Sipnattmt:
Please mail all c_.pr.ond,.... ..ding this!rotes[to tote above named rat ag_ at the Wowing address:ti ra Ave, Ppn }„tirw� — g : Rf)I 1 i
N
Indicate t.t�e amber penmen d,,
Harry eane.dy, "u N f�tn, Lnittu, Br tonfanar l r111B it necessary:
ray rq[t , -
VERIFICATION. I.the undersig elf^ owner or agent of this — _-
carttafned herein end on any attachment t eM.State that the infornafion and facts
proper tY constitute true and oprtspfetr staterrKms concreting the described
Signature_ ._
Date
Day Tine Phone Number.
4 :�i Iltr` ./
t
TOTAL P.01
_ f
CLERK TO THE BOARD
P.O. 80X 758
GREELEY,COLORADO 80632
hiDe
(943)358-4000 EXT.4225
COLORADO
July 16, 1993
Parcel No. : 147131006008 PIN No. : R 6297986
KENNEDY HARRY L & BERNICE D
780 N 9TH AVE
BRIGHTON, CO 80601
Dear Petitioner(s) :
The Weld County Board of Equalization has set a date of Thursday, July 29,
1993, at or about the hour of 4:00 P.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, 1992, and mailed to you on or before
August 16, 1992.
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.
._t
KENNEDY HARRY L & BERNICE D - R 6297986
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,
BOA D OF EQUALIZAT ON
Donald D. Warden,
Clerk to the Board
BY: /"//ot�' /i�17�� r
Carol A. Harding, Deputyr.--�
cc: Warren Lasell, Assessor
Robert W. Boich
830' 36
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C _ B _ O _ E _ HEAR.I NC
Kennedy, Harry L. & Bernice D.
Pin# R 6297986
Parcel# 1471-31-0-06-008
Date: July 30, 1993
SUBJECT
PIN# 6297986 PARCEL# 1471-31-0-06-008, Brighton
.r0.
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•
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LAND SIZE: 25,000 SF
LAND/BLDG RATIO: 3. 125
BLDG SIZE: 8,000 SF
YEAR OF CONSTRUCTION: 1986
CONSTRUCTION: METAL
WALL HEIGHT: 16'
'tA&e 4`-t 230,36
LAND SALE S
LEGAL LOCATION SALE DATE SALE PRICE SIZE PRICE/SF
SUBJECT:
ASSESSORS
R6297986 VALUE
KENNEDY
780 N 9TH AVE L8 BLK 3 $22,250 25,000 SF $0.89
Brighton, CO BRI IND PK
COMPARABLES:
B. I.P. O L 4 & 5
ASSOCIATES/ BLK 1 01/03/89 $66,800 92,766 SF $0.72
GREENFIELD BRI IND PR
B.I.P.
ASSOCIATES/CD L 6 BLK 1 01/03/89 $46,200 64,213 SF $0.72
GREENFIELD BRI IND PK
B.I.P.
ASSOCIATES/(I) L 7 BLK 2 08/03/89 $39,000 43,750 SF $0.89
GREENFIELD BRI IND PK
B.I.P.
ASSOCIATES/ED OUTLOT A 12/17/91 $10,000 12,593 SF $0. 79
B.J. SERVICES BRI IND PK
PAJE *2 c.:..-A3P73s
. BRIGHTON INDUSTRIAL PARK
SITE PLAN ,
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PIN: 6297886 PARCEL #: 147131006007
OCCUPANCY: MANUFACTURING
ADDRESS: 790 N 9 AVE BRIGHTON
PROJECT: 0
BOOK #: 1359
SALE DATE: 11/18/92 RECEPTION #: 2311915
SALE PRICE: $207,600 ADJ SALE PRICE:
GRANTOR: KENNEDY HARRY
GRANTEE: SEMP JACOB
YEAR BLT: 1985 LAND/BLDG RATIO: 4 . 17
BLDG SIZE: 6,000 IMPS PRICE/PSF: $30.89
CLASS: S SALE PRICE/PSF: $34 . 60
CONSTRUCTION-QUAL: AVG CASH DOWN: $0
WALL HEIGHT: 16 LOAN: NEW
STORIES: 1 INTEREST RATE: 8.50%
BSMT SIZE: 0 LOAN TERM (YRS) : 25
LAND SIZE: 25,000 POINTS PAID: 0
LAND VALUE: 22,250 BY WHOM: 0
REMARKS: MAI APPRAISAL $240,000 80%
BANKLOAN 20% OWNER CARRY WAS LEASE/OPTION
TRIPLE NET LEASE @ $4 . 60PSF
a.1(1`73 PGE to
COMPARABLE SALE O
a ''!„:1,' ,1,,',1,, , 'Q ' i' , L , 1,
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•
PIN: 6296786 PARCEL #: 147131005007
OCCUPANCY: MANUFACTURING
ADDRESS: 785 N 9 AVE BRIGHTON
PROJECT: 0
BOOK # : 1249
SALE DATE: 11/17/89 RECEPTION # : 2197698
SALE PRICE: $205,000 ADJ SALE PRICE: $185,000
GRANTOR: LAMBERT & SON INC
GRANTEE: KENNEY JACK & BARBARA
YEAR BLT: 1989 LAND/BLDG RATIO: 8.75
BLDG SIZE: 5,000 IMPS PRICE/PSF: $29. 21
CLASS: S SALE PRICE/PSF: $37. 00
CONSTRUCTION-QUAL: AVG CASH DOWN: $0
WALL HEIGHT: 16 LOAN: NEW
STORIES: 1 INTEREST RATE: 0.0%
BSMT SIZE: 0 LOAN TERM (YRS) : 25
LAND SIZE: 43750 POINTS PAID: 2
LAND VALUE: 38937 BY WHOM: BUYER
REMARKS: SBA 100% LOAN - RATE ADJUSTED MONTHLY @ 2 . 5%
ABOVE PRIME. ADJUSTED SP $20 , 000-FEE TO MOVE
BUYERS MANUFACTURING EQUIP FROM OLD LOCATION.
a 7O a i p
a.-a 7
COMPARABLE SALE O
i
h
t :1
--_----'-fir
PIN: 6298086 PARCEL #: 147131006009
OCCUPANCY: SERVICE GARAGE
ADDRESS: 9 AV N 760
ERR
SALE DATE: 07/21/89
SALE PRICE: $86,255
GRANTOR: KEELER, SCOTT
GRANTEE: MORRIS, ROBERT BLDG SIZE: 2 ,000
CONSTRUCTION-QUAL: LOW YEAR BLT: 1985
PR/SF(IMPS) : $32 .00 CLASS: S
PR/SQ FT: $43 . 13 WALL HEIGHT: 16 FT
LAND SIZE: 25,000
LAND VALUE: 22 .250
LAND/BLDG RATIO: 48.35
REMARKS: SALE 92000- DET GAR 5745= $86255
a_�()D73, ?igG. 148
On January 21, 1993 the Assessors office obtained a copy of an appraisal,
of the Kennedy property, prepared by John S . Butler, MAI and Kelly S. Hopp,
Associate dated August 4, 1992.
The purpose of the appraisal was stated to be for Loan Refinancing.
The Conclusion of the appraisal, a result of the applications of the three(3)
approaches to value, are as follows:
Cost Approach $251,100
Market Approach $264,000
Income Approach $286,200
The appraisal reconciliation indicated the final value to be $285,000. As
a conclusion of this appraisal completed by the M.A. I. , it is the opinion of the
Assessors office the subject property is not over valued.
CURRENT ASSESSORS VALUE
LAND 25,000 SQ FT $ 22,250
IMPROVMENTS 8,000 SQ FT $170,311
TOTAL VALUE $200,561
'` ';;
YEARLY CASH FLOW PROJECTIONS
780 NORTH 9th AVENUE
BRIGHTON, CO 80601
INCOME
COME
B & L Industries 10,200.00
Rich-Lee Vending 10,032.00
Empty Units* 15,300.00
TOTAL INCOME $35,532.00
EXPENSES
Building Payment 27,718.32
Landscaping Upkeep Cost 400.00
Snow Removal 210.00
Property Insurance 1,156.00
All Other Expenses* 4,225.34
TOTAL EXPENSE $33,709.66
CASH FLOW $1,822.34
*Income projections assume all units are rented.
**Expenses do not include major repairs, i.e., $2,000.00 spent in 1992 to repair the
parking lot. Copies of 7 months expenses attached. EXHIBIT
4
R30'73 U4‘".9-7713tc
JOSE'S OF BRIGHTON
308 Walnut
Brighton, CO 80601
This property recently sold for $ 125,000.00. The price included a building
with 5,000 square feet and some food processing equipment worth
$70,000.00. The buyer was Dale Bier of Brighton Colorado. Mr. Bier was
a former tenant at 780 north 9th Avenue where he paid S 1,100.00 in rent
for the last three years.
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RENTAL UNITS
780 North 9th AVENUE 659-9130 MON-FRI, 8-5
Brighton, CO 80601 654-0842 Evenings & Weekends
1 YEAR LEASE
1 UNIT 1,000 SQUARE FEET $525.00 PER MONTH
2 UNITS 2,000 SQUARE FEET $950.00 PER MONTH
3 UNITS 3, 000 SQUARE FEET $1,325.00 PER MONTH
2 YEAR LEASE
1 UNIT 1,000 SQUARE FEET $500.00 PER MONTH
2 UNITS 2,000 SQUARE FEET $925.00 PER MONTH
3 UNITS 3, 000 SQUARE FEET $1,300.00 PER MONTH
•
3 YEAR LEASE
1 UNIT 1,000 SQUARE FEET $475.00 PER MONTH
2 UNITS 2,000 SQUARE FEET $900.00 PER MONTH
3 UNITS 3, 000 SQUARE FEET $1,275.00 PER MONTH
TERMS:
*First and last month rents, and a $300.00 damage deposit are due when
lease is signed.
*Snow removal service fee of $100.00 per unit (1,000 square feet), per year
*Up to 5,000 gallons of water paid by landlord, tenant to pay for water use
in excess of this amount
*Property taxes to be paid by landlord
"0,3s
RENTAL UNITS
780 North 9th AVENUE 659-9130 MON-FRI, 8-5
Brighton, CO 80601 654-0842 Evenings & Weekends
1 YEAR LEASE
1 UNIT 1,000 SQUARE FEET $600.00 PER NTH
2 UNITS , 00 SQUARE FEET $1,150.00 P MONTH
3 UNITS 3, 0 SQUARE FEET $1,575.00 R MONTH
2 AR LE E
1 UNIT 1,000 SQUARE FE $575.00 PER MONTH
2 UNITS 2,000 SQUARE FE $1,125.00 PER MONTH
3 UNITS 3, 000 SQUARE ET $1,550.00 PER MONTH
3 YEAR LEASE
1 UNIT 1 00 SQUARE FEET $550.0 PER MONTH
2 UNITS ,000 SQUARE FEET $1,075.00 R MONTH
3 UNITS 3, 000 SQUARE FEET $1,500.00 PE MONTH
N
TERMS:
*First and last month rents, and a $300.00 damage deposit are due when
lease is signed.
*Snow removal service fee of $100.00 per unit (1,000 square feet), per year
*Up to 5,000 gallons of water paid by landlord, tenant to pay for water use
in excess of this amount
*Property taxes to be paid by landlord
R30'73,4
.-.41. , 11068 0310 - \ ?
• SCHEDULE E eida Na. 1545-0074
(Form 1040) Supplemental Income and Loss 1991
(From rents,royalties,partnerships,estates,trusts,REMICs,etc.)
oeaortnest of He Treanry ► Attach to Form 1040 or Form 1041. Attachment
Intend R service ► See Instructions for Schedule E(Form 1040). seaaeaco No. 19
Name(s)shown on return Employer ID Number
Income or Loss From Rentals and Royalties Note: Report farm rental income or loss from Form 4835 onpa{&Zl/ne 39,
1 Show the kind and location of each rental property: 21or each , Yes No
rr� p� r�ry. rub( property
MQ.h.QAYl.QAf.M Ilued as Ilea
K..F.XAYIYAIM I, did yes or
A your family
an It for A X
OF.F.. g.≥r/WARgKQV.s.E - DRWSNTQN...INPVSTR.TAZ. l Fsrpasos lot
B7841794 greeter ter`el the
.Q./...7..9.Q.._N.t.....9.TH....AvBs lore d h B }{
BRIGHTON. CO 80601 of ne tatai
days rend at
... fair reaul
C vein during
the tax year? C
Properties D Totals
Rental and Royalty Income: A a C (Add columns A,B,and C.)
3 Rents received 3 6 . 250. 58 . 850. 3 65. 100.
4 Royalties received 4 4
NIUMONNOIMONNMO
Rental and Royalty Expenses:
5 Advertising 5 ' '
6 Auto and travel 6
7 Cleaning and maintenance . . 7 615.
8 Commissions 9 687.
9 Insurance
150. �: :::::::
10 Legal and other professional fees � 10 ��^- ����- "�������`���`��"`""���"� ��
11 Mortgage interest paid to 11 39 961
banks. etc 11 39 .961.
12 Other interest 12 `
13 Repairs 13 5,753 .
14 Supplies
14
15 Taxes 15 6. 526. F .es.
16 Utilities 16 551. lik 17 Wages and salaries �:,�:;::x. ;::�:1:.:.�w:.:: �:�:.
18 Other(list) ► `'?:"::.; :';:::::,.:.>. :h:>:.::.LICEliag M (803) t8 'ea
MI$CEL1AN$OVS 508 . : F�
AMORTIZATION 799 . -;•:::..........::...: ::;*a R?:.. : .
19 Add lines 5 through 18 . . . . 19 55. 550.
19 55. 550.
20 Depreciation expense or depletion 20 1. 273 . 15 . 670. 20 16,943 •
21 Total expenses.Add lines 19 & 20 21 1 . 273 . 71. 220.
g:; pi;:;iiMENNERMONViq
22 Income or(loss)from rental or a d
royalty properties. Subtract line EXHIBIT
21 from line 3(rents)or line 4
(royalties). If the result is a(loss). LI-) '1k t-
see instructions to find out if you 22 4 .977 . -12 ,370. x t't° eC
must file Form 6198 /p
23 Deductible rental loss. Caution: Your #"a9 x186
renal loss on line 22 may be limited. FORM 8582
See instructions to find out if you 23 12 . 370.
must file Form 8582
24 Income. Add rental and royalty income from line 22. Enter the total income here 24 4 . 977 .
25 Losses. Add royalty losses from line 22 and rental losses from line 23. Enter the total losses here . 25 12 . 370.
26 Total rental and royalty income or(loss). Combine lines 24 and 25. Enter the result here. If Parts II,
III IV. and line 39 on page 2 do not apply to you, enter the amount from line 26 on Form 1040. line 18. 26 —7 . 393 .
Otherwise, include the amount from line 26 in the total on line 40 on page L. • . • • . •
For Paperwork Reduction Act Notice,see Form 1040 instructions OM Schedule E(Form 1040) 1991
q-)0,3,-
rip
11 11VOO V6.60
1 E cr 1 \ Ana hm nt n Pa e 2
Name of person with self—employment Income(as shown on Form 1040) Social security number of person
3]ERNICE .. *•..e:�env with self—employment income r 395-34-6834
i(Section B — Long Schedule SE
A If you are a minister, member of a religious order.or Christian Science practitioner AND you filed Form 4361,but you had 8400 or
more of other net earnings from self-employment check here and continue with Part I ►
B if your only Income subject to self-employment tax is church employee income and you are not a minister cc a member of a religious
order, skip lines 1 through 4b. Enter-0-on line 4c and go to line 5a.
jial Self—Employment Tax
1 Net farm profit or(loss)from:
a Schedule F(Form 1040), line 36
b Farm partnerships. Schedule K-1 (Form 1065), line 15a
Net earnings from farm self-employment 1
2 Net profit or(loss)from: t
a Schedule C(Form 10401. line 31
b Partnerships(other than farming), Schedule K-1 (Form 1065), line 15a
c Service as a minister or member of a religious order
d Service with a foreign government or international organization
e Other ► B & L INDUSTRIES 1, 551.
Total 1 . 551.
Adjustments
Net earnings from nonfarm self-employment 2 1. 551.
3 1. 551.
3 Combine lines 1 and 2
4a If line 3 is more than zero, multiply line 3 by 92.35%19235).Otherwise, enter the amount from line 3 4a 1. 432 .
4b
b If you elected one or both of the optional methods, enter the total of lines 17 and 19 here
c Combine lines 4a and 4b. If less than $400,do not file this schedule: you do not owe self-employment► 4c 1. 432 .
tax. Exception: If less than$400 and you had church employee income,enter -0- and continue • • • • • ..::..,
5a Enter your church employee income from Form W-2. Caution: See page SE-7 for ii
5a
definition of church employee income uh:>
Mz
b Multiply line 5a by 92.35% Sb(.9235). If less than 8100, enter-0- 6
1. 432 .
6 Net earnings from self—employment Add lines 4e and 5b
7 Maximum amount of combined wages and self-employment earnings subject to social security 7 S 55,500
tax or the 6.2%portion of the 7.65%railroad retirement(tier 1)tax for 1992
Ba
82 Total social security wages sad lips(from fore&w-2) sad unread retirement Kier 1) compeusstioe , ':
8b rmr::
b Unreported tips subject to social security tax(from Form 4137, line 9) . . . . °as.
8c
e Add lines 8a and 86
9 Subtract line 8c from line 7. If zero or less, enter O here and on line 10 and go to line 12a. . . . ► 9 55. 500.
10 Multiply the smaller of line 6 or line 9 by12.4%(.124) 10 178 .
11 Maximum amount of combined wages and self-employment earnings subject to Medicare tax
or the 1.45%portion of the 7.65%railroad retirement(tier 1)tax for 1992 11 $130,200
,..12a •
12a mill Medics,. wages sad lips(from form(a)W-21 at railroad relirenat Itler 11 tioa , . "1*e1"'
b Unreported tips subject to Medicare tax(from Form 4137, line 14) 12b ."''::"
•12c
c Add lines 12a and 12b
13 Subtract line 12c from line 11. If zero or less, enter-0- here and on line 14 and go to line 15 . . . , 13 130, 200.
14 Multiply the smaller of line 6 or line 13 by 2.9% (.029) 14 42 .
15 Self—employment tax. Add lines 10 and 14. Enter the result here and on Form 1040. line 47. . . 15 220.
Note: Also.enter one—half of the amount from line 15 on Form 1040, line 25.
j;CIall Optional Methods To Figure Net Earnings (See Who Can File Schedule SE and Optional Methods on page SE-3.)
Farm Optional Method.Vou may use this method only if (a)Your gross farm income'was not more than $2,400 or(b) Your gross farm
incomes was more than $2,400 and your net farm profits2 were less than 81,733.
16 $1,600
16 Maximum income for optional methods
17 Enter the smaller of:two-thirds(2/3)of gross farm incomeI or $1,600.Also include this amount
17
on line 4b above
Nonf arm Optional Method. You may use this method only if (a)Your net nonfarm profits3were less than $1,733 and also less than
72.189% of your gross nonfarm income! and (b) You had net SE earnings of at least$400 in 2 of the prior 3 years. Caution: You may use
the nonfarm optional method no more than five times.
18
18 Subtract line 17 from line 16
19 Enter the smaller of: two-thirds(2/3)of gross nonfarm incomes or the amount on line 18. Also 19
include this amount on line 4b above
I From Schedule f, line II, sad Schedule K-I (Form 10661, ii.. 150. 3 From Schadele C, lino 31; Schedule C-EZ, lice 3; and Schedule K-I Worm 10651, line IS..
2From Schedule f. line 36. and Schedule K-I Worm 10651, line Ma. 4 from Schedule C, line 7; Schedule C-EZ. line 1; end Schedule K-I (Form 1066, line 1k.
For Paperwork Reduction Act Notice,see Form 1040 Instructions N765 q'70t.13�i Schedule SE(Form 922[51 10/ 1/921992
w•-W
10 11068 0226 (�,, (^r
• SCHEDULE E •e,se.pplemental Income and Loan OMB No. 1846-0074
(Form 1040) (From rental real estate,royalties,partnerships, estates,trusts,REMICs, etc.) 1992
Department el the Tommy ► Attach to Form 1040 or Form 1041. All ha it
tn.rnl seveaue seeice ► See Instructions for Schedule E(Form 1040). sea..ece No. 13
Name(s)shown on return Your social security number
_ _HA$RY L. & BERNICE D._KENNEDY 131-30-4321
��V Income or Loss From Rental Real Estate and Royalties Note: Report Income and expenses from the rental of personal
property on Schedule C or C—E2. Report Farm rental Income or loss from Form 4835 on page 2,lint 39.
1 Show the kind and location of each rental real estate property: 2for ,• metalYes No
.. real estate
( .Z....MQx.9..Rt34k pr pert listed
I.i i
A yes er your�.. 1:07 gun u A X
(TA....Q.F..k I.GE,lh j19USB — HE ABTPIL.I.NR.V.STRIM&._.. I
!� //•'7 r� orrrt,7 y� purposes ler
B 789F..7.�1C....N.e....al.hhA AVlrl.f I
greater r h al the
BRIGHTON. CO 80601 days or fox B x
of the total
days rend et
--"''— (sir near
c vela. during c
the tax year?
Properties Totals
Income: A B C (Add columns A,B,and C.)
3 Rents received
3 7 , 500. 57 .938. 3 65, 438 .
4 Royalties received 4 4
Expenses:
5 Advertising 5
6 Auto and travel 6 687 .
7 Cleaning and maintenance . . 7
8 Commissions 8
9 9 2 8
9 Insurance '
10 Legal and other professional fees • 10 522 .
11 Management fees 11 "�:=
12 Mortgage interest paid to banks,eta 12 2 , 275. 40. 089. 12 42 , 364 .
13 Other interest 13
ai
14 Repairs - Carpenter,screens,etc.
- Electrical and plumbing.
- Painting and decorating. . 14
xiis
- Roofing
- Miscellaneous . . 3 .823 .
15 Supplies 15 489. ' `
16 Taxes 16 150. 3 ,731. "
17 Utilities 17 1 . 343 . 'Z'
7:A.i
18 Other(list) Is. ,:n€''
MISCELLANEOUS 843 .
18 672 .
AMORTIZATION
19 Add Tines 5 through 18
19 2 .914 . 52 . 638 . 19 55. 552 .
20 Depreciation expense or depletion 20 1, 273 . 14 .478 . 20 15 .751.
21 Total expenses.Add lines 19 & 20 21 4 . 187 . 67 . 116.
22 Inem, or (loss) from resist red enn• or
royalty properties. Subtract line 21 from 2 EXHIBIT _
One 3 (rents) or Ike 4 koylti.d. If the
result is a (loss). see page 1-2 to !MI out C WT'
II you must lilt form alas . . . 22 3 , 313 . -9, 178 . ..tit:(4-1
23 Deductible rental real estate loss.
Caution: Your rental real estate loss PAL �� 7''67
on line 22 may be limited. See page
E-3 to lied out if you must file 23 9 . 178 .
Form 8582 . . . . . . . . .
24 Income. Add positive amounts shown on line 22. Do not include any losses 24 3 . 313 .
25 Losses. Add royalty losses from line 22 and rental real estate losses from line 23. Enter the total lasses here . 25 9 . 178 .
26 Total rental real estate and royalty income or(loss). Combine lines 24 and 25. Enter the result here.
If Parts II, Ill, IV. and line 39 on page 2 do not apply to you• also enter this amount on ��M ne 18.
Otherwise. include this amount in the total on line 40 on page 2 . . . . . . a ;s:.;i ..'.S • • • 26 -5 . 865.
For Paperwork Reduction Aet Notice,see Form.1040 Instructions. 8788 Schedule E(Form 1040) 1992
1'0' 11VOO u41u
Schedule SE Worm 1Q40) 1991 Attachment Sequence No. Page 2
- Name of person with self—employment income(as shown on Form 1040) Social security number of person
HARRY L. KENNEDY with self—employment income ►
331-3 0-4 1 7
Section B - Long Schedule SE (Before completing, see if you can use the Short Schedule SE(Section AL)
A If you are a minister, member of a religious order,or Christian Science practitioner,AND you filed Form 4361, but you had$400 or
more of other net earnings from self-employment check here and continue with Part I ►
6 If your only income subject to self-employment tax is church employee income and you are not a minister or a member of a religion
order, flip lines 1 through 4b. Enter-0-on line 4c and go to line 5a.
Self-Employment Tax
1 Net farm profit or(loss)from:
a Schedule F(Form 1040), line 37
b Farm partnerships. Schedule K-1 (Form 1065), line 15a
Net earnings from farm self-employment 1
2 Net profit or(loss)from:
a Schedule C(Form 1040), line 31
b Partnerships(other than farming). Schedule K-1 (Form 1065), line 15a
c Service as a minister or member of a religious order
d Service with a foreign government or international organization
e Other I. VICTOR M. MONTOYA-VICTRONIX 1, 613 .
Total 1, 613 .
Adjustments
Net earnings from nonfarm self-employment 2 1.613 .
3 Combine lines 1 and 2 3 1. 613 .
4a If line 3 is more than zero, multiply line 3 by.9235. Otherwise, enter the amount from line 3 here . . '1e 1. 490.
b If you elected one or both of the optional methods, enter the total of lines 17 and 19 here 4b
c Combine lines 4a and 4b. If less than $400. do not file this schedule; you do not owe self-employment► 4c 1. 490.
tax. (Exception: If less than$400 and you had church employee income,enter-0-and continue.) • • • - - _•
_..._.
Sa Enter your church employee income from Form W-2. Caution: See the
instructions for definition of church employee income 5a
b Multiply line 5a by .9235. (If less than S100, enter-0-) 5b
6 Net earnings from self—employment Add lines 4c and 5b 6 1.490.
7 Maximum amount of combined wages and self-employment earnings subject to social security
tax or the 6.2%portion of the 7.65%railroad retirement(tier 1)tax for 1991. . 7 S 53.400
8a Total social security wages sad tips (from Fortis) W-2) end railroad refitment (tier I) compnnlio. . 8a 33 . 582 ago
b Uanpene/ tips subject to ncid tonicity lea (from Form 4137, line 9) or (slimed retirement Wier 11 In 8b
c Add lines 8a and 8b Sc 33 . 582 .
9 Subtract line 8c from line 7. If zero or less, enter-0- here and on line 10 and go to line 12a . . . ► 9 19 . 818.
10 Multiply the smaller of line 6 or line 9 by12.4%(.124) 10 185.
11 Maximum amount of combined wages and self-employment earnings subject to Medicare tax
or the 1.45%portion of the 7.65%railroad retirement(tier 1)tax for 1991 . . . . . . . 11 $125,000
12a Uhl Modica, wages in lips Prom fermis) W-2) sad railroad :Miriam! Sim I) compensation , . 12a 33 . 582 NEI
b Unreported lips (abject Ie Medicare be Orem Fora 4137, Ilea 141 or rollout( retirement (liar II tax , 12b
c Add lines 123 and 12b 12c 33 ,582 .
13 Subtract line 12c from line 11. If zero or less, enter-0- here and on line 14 and go to line 15 . . . 13 91,418 .
14 Multiply the smaller of line 6 or line 13 by 2.9% 1029) 14 43 .
15 Self—employment tax. Add lines 10 and 14. Enter the result here and on Form 1040, line 47. . . 15 228 .
Note: co.-ntrr not-half of the amount from line 75 nn Form 1040, line 25.
Optional Methods To Figure Net Earnings (See"Who Can File Schedule SE" and"Optional Methods" in the instructions.)
Farm Optional Method.You may use the farm optional method only if: (a) Your gross farm income was not more than $2,400 or
(b)Your gross farm income!was more than $2,400 and your net farm profits2were less than $1,733.
16 Maximum income for optional methods 16 $1,600
17 Enter the smaller of: two-thirds(2/3)of gross farm income I or 91,600.Also include this amount
on line 4b above 17
Nonfarm Optional Method. You may use the nonfarm optional method only if: (a)Your net nonfarm profits3 were less than $1,733
and also less than 72.189%of your gross nonfarm income4 and (b) You had net SE earnings of at least 9400 in 2 of the prior 3
years. Cautiore you may use the nonfarm optional meth&no more than five times-
18 Subtract the amount on line 17, if any, from line 16 and enter the result 18
19 Enter the smaller of: two-thirds(2/3)of gross nonfarm income4 or the amount on line 18. Also
include this amount on line 4b above 19
IFrom Schelde f form 1040), Iia II, and Schedule K-1 If.,. 1066, lime 15b. 3 h le C Worm 1040), Ilse 31, ad Schelde K-I Worm 1066, Him 16a.
2lrom schdde f (form 1040), lino 37, ad Schedule K-I Worm 1066, line lbs. 4 From Schedule C (form 1040). tine 7, ad Schedule K-I (forty 1066 Igoe 16c.
For Paperwork Reduction Act Notice,am Form 1040 instructions. NM imp^7(jtye3 wi Schedule SE(Form 1040) 1991
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