HomeMy WebLinkAbout920246.tiff 15.OPT FORM PRESCRIBED BY THE PROPERTY TAX ADMINISTRATOR '-C "7 \---1 ! I•l 7
- • FORM 920 1/66-6/90 PET "Th FOR ABATEMENT OR REFUND OF TAXES-c. r SCKEI CO. DENVER 36312 i
Petitioners: Use this side only. Cf.,;
Greeley r ddloredo, , ..t December 13 , 19 91
7/7
City or Town
To The Honorable Board of County Comrtiis_sioners of Weld County
IL it
Gentlemen: WELD C_0U_!ITY n^'"^^^?
. The petition of Harold Satur 1 ��5 .,. r '� \ I
\j whose mailing address is. PO Box 848 DEC 3 1 1991I
Greeley CO GREELEY,COL030632
N City or Town State Zip Code
>..FH ,1ULE UMBER DESCRIPTION OF PROPERTY AS LISTED ON TAX ROLL
S 3352986 CD 12285 L6 & PT L5 NW4SE4 9 5 65 DESC AS BEG 225'E etc
0696x1'=09£04200-082) (813 E 18 St)
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respectfully requests that the taxes assessed against the above property for the years A. D.
19...$9..., 19 90 , are erroneous, illegal, or due to error in valuation for the following reasons:
(Completely describe the circumstances surrounding the incorrect value or tax.)
In accordance with Senate Bill 91-231, petitioner requests review and adjustment
of the 1989 and 1990 assessed value. Subject's over-valuation is verified by
the assessment reduction the property received in 1991 and is further verified
by the attached report.
Summation: Subject is an overbuilt metal warehouse, built in 1975. It has never
been fully leased, and has averaged 35%-50% vacancy through-out its life. Its
value was established this year with a pro-forma income analysis, allowing 25%
vacancy and 15% expenses at rent of $2.50/SF. That same value and circumstances
were present in the previous assessment period. Petitioner requests the 89/90
valuation be set at the same income-based value of $392,211.
v�
198.9... 19 90
' Value Tax Value Tax
0
tv
- Orig. 127,940 10,721 .50 127,940 10,884.50
Abate. 14.,200 1,.1$9 97 14,200 1,208.07
ct
Bal. 113,740 ✓ 9,531.53 113,740 ✓ 9,676.43
The taxes (have) (Nevetxart) been paid. Wherefore your petitioner prays that the taxes may
be abated= refunded in the sum of $ 2,398.04
I declare, under penalty of perjury in the second degree that this petition, together with any
accompanying exhibits or statements, has been examined by me and to the best of my knowledge,
information and belief is true, correct and complete.
Weill rnilifiN ereceAR Harold Satur
r- Petitioner
UL ; s ! 1591
By a ...
Ag nt
GREELEY,COLO. Christopher D. Ruff
R&N Property Consultants
413 Main St * PO Box 99
Address Windsor.,-._C0..B0550
(303) 686-7447
G 034' 920246
Li C- - 1-t S, 1'r7 i / i c.Lit:: )? I I
RESOLUTION OF COUNTY COMMISSIONERS
WHEREAS, The County Commissioners of Weld County,
State of Colorado, at a duly and lawfully called regular meeting held on the 1.1.th day
_- of March , A.D. 19 92...., at which meeting there were present the following
1..,_mbers:...Chairman George Kennedy,, and Commissioners Constance L. Harbert, C. W.
Kirby,...GQr4QD E. Lacy, and W. H. Webster
notice of such meeting and an opportunity to be present having been given to the taxpayer and
the Assessor of said County and said Assessor....repxe.Se.nt:edby Mike Sampson and taxpayer
represented by Chris Ruff, R & N, being present; and (name)
(name)
WHEREAS, The said County Commissioners have carefully considered the within applica-
tion, and are fully advised in relation thereto,
NOW BE IT RESOLVED, That the Board... concurs with the recommendation of
(concurs or does not concur)
the assessor and the petition be approved and an abatement/refund.b.e...41Jvw0d
(a proved or denied) (be allowed or not be allowed)
c19 )g g 2 (1989)$1189.97
on an assessed valuation of$.041.$14:266for 199Q)$1208.07 total tax fort a year(s) 1989 & 90.
Chairman of Boar of ounty Commissioners.
STATE OF COLORADO, Pro fern
County of Weld ss.
I, Donald D. Warden i1219OOfF1&S1iiVERO J Clerk
of the Board of ‘;ounty Commissioners in and for the County of Weld
State of Colorado, do hereby certify that the above and foregoin,- order is truly copied from the
records of the proceedings of the Board of County Commissioners for said Weld
County, now in my office.
IN WITt;:.SS WHEREOF, I have hereunto set my hand and affixed the seal of said County,
at GKeeley, Colorado , this lltkz ay of Marc
, A. D. 19.92
.4
i }X Clerk.
.B . ../� r
D�ut
ACTION OF THE PROPERTY TAX ADMINISTRATOR cy
Denver, Colorado, ...42..7, A ,/ / , 19.22.
The action of the Board of County Commissioners, relative to the within petition, is hereby
capprovedi; ❑ approved in part $ O denied for the following reason(s)
AT T:
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retary. Property Tax Administrator.
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CLERK TO THE BOARD
P.O. BOX 788
GREELEY,COLORADO 80632
(303)358J000 EXT.4225
C.
COLORADO
February 28, 1992 DATE
Mr. Harold Satur
P. O. Box 848
Greeley, Colorado 80632
RE: SCHEDULE NUMBER 3352086 (0961-09-4-00-082)
Dear Mr. Satur:
This is to advise you that the Board of Weld County Commissioners will hear your
petition for tax abatement or refund on the property described as: 12285 L6 & PT
L5 NW4SE4 9 5 65 DESC AS BEG 225'E etc (813 E 18 St) . This meeting is scheduled
for Monday, March 9, 1992 at 9:00 a.m. , at which time you may be heard. The
Assessor is recommending that the Board APPROVE your petition.
The meeting will be held in the Chambers of the Board, Weld County Centennial
Center, First Floor, 915 10th Street, Greeley, Colorado, at the above specified
time.
If you have any questions concerning this matter, please do not hesitate to
contact this office.
Sincerely,
Donald D. Warden,
Weld County Clerk to the Board
By:
Deputy Clerk Jo the Board
XC: Assessor - W. Lasell
County Attorney
R & N Property Consultants
92021
GREELEY COLORADO 80631
NOTICt OF ADJUSTMENT PHONE(303) 3ab-4000, [.XT.4256
12285 L6 t PT LS NW4SE4 9 5 65 DESC AS BEG 225°E
OF NW COR L5 S435■ E25e $225° E ALONG S LN TO SE
COLORADO CDR N ALONG E LN TO NE CUR W TO POB %813 E 18 ST%
813 E 18 ST GREELEY
OWNER SATUR HAROLD F L DORIS I
ERIS INTERNATIONAL PARCEL 096109400082
PIN R 3352086
415 MAIN YEAR 1991
WINDSOR CD 80550 LOG 01644
Q5/15/1991
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 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 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.
GROSS INCOME 75.000 X 15% VACANCY 2Q% EXPENSE = NET 51.000
1 .13 = 392.300.
PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE ACTUAL VALUE ACTUAL VALUE
DE VALUE PRIOR TO REVIEW AFTER REVIEW
LAND 26.250 26.269
IMPS 414.943 365.961
TOTALS $ $ 441. 193 $ 322,211 •
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.
By: WARREN L. LASELL 05/29/91 a _ •
WELD COUNTY ASSESSOR •
DATE ",• 4.. • 133
P
Form PR-207-8//91 ADDITIONAL INFORMATION ON REVERSE SIDE
PARCEL/SCHEDULE NUMBER: 0961-09-04-00-082/3362086
PROPERTY ADDRESS/CITY : 813 E. 18th St. , Greeley
COUNTY Weld
OWNER/REPRESENTATIVE Harold Satur
R&N CONTRACT NUMBER A0402
DATE SUBMITTED •
PETITIONERS VALUE: $392,211
CASE SYNOPSIS:
INCOME APPROACH TO VALUE : $ 266,238
INCOME APPROACH TO VALUE : $ 336,686
PRO-FORMA INCOME ANALYSIS : $ 392,308
MARKET APPROACH TO VALUE 1988 : $ N/A
92; 24
PROPERTY INCOME AND EXPENSE ANALYSIS
RENTAL INCOME
Gross rents 68,220 43,768 act
CAM Reimburse
Vac/Credit Loss 17,055 25% 0 0%
Adjusted Gross 51,165 -M — 43,768
OPERATING EXPENSES
Advertising 0% 0%
Insurance 0% 1,855 4%
Grounds Maint 0% 0%
Janitorial/Clean 0% 0%
Management Fees 0% 2,000 5%
Maintenance/Repair 0% 756 2%
Property Taxes 0% 11,062 25%
Res/Replacements 0% 0%
Utilities 0% 140 0%
Trash removal 0% 0%
Misc Category 0% 0%
Misc Category 0% 0%
Total Expense 15,813 31% 15,813 36%
Cap Rate (expensing actual taxes) : 0.105 GRM:
51,165 — 15,813
INCOME VALUE : $ 336,686
0.105
43,768 - 15,813
= INCOME VALUE : $ 266,238
0.105
PRO-FORMA INCOME ANALYSIS
Leasable Square Footage: 30,000 SF
Avg Gross Rent Rate $ 2.50
Potential Gross Income : $ 75,000
Vacancy/Collection Loss: 20 %
Operating Expenses 15 %
Cap Rate (eff tax=.025) : 0.130
PRO—FORMA INCOME INDICATION OF VALUE: $ 392,308
92024P)
PROPERTY TAX CONSULTANT - CLIENT AGREEMENT
Client : Harold & Doris Satur ; D & S Steel Building Co .
Property Address: 813 E . 18th St . 1503 2nd Ave
City : Greeley Greeley
County : Weld Weld
Parcel Number : 0961-09-4-00-082 0961-08`-- 1-24-023
(a) The client has contracted R&N Property Consultants to serve as consultant and agent In
connection with any and all real estate assessment appeals to the County Assessor, the County
Board of Equalization (CBOE), the Arbitration Process, and/or the State Board of Assessment
Appeals (BAA), respecting the above property. This agreement Is effective only for tax years 1991
and 1992) and premix, 1/ears
Agreed: ;` L _Crk _ LlA"-A.f 5 -73= 77
(client) r (date)
R&N: .tic, t. .�' r— 9/
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