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Home My WebLink About920245.tiff $5-OPT FC 'RESCRIBED BY THE PRO(t'EM1T1{y,.TAX-ADMINISTRATOR �� I! .FORM 920 1/66-6/90 PE,..JON FOR ABATEMENT EEkab.OP tA$FS-c. IECKEL CO, DENVER 36312 Petitioners: Use this side only. Greeley , Colorado, C :January 31 , 1992 City or Town To The Honorable Board of County Commissioners of Weld County Gentlemen: The petition of Trustees of State Colleges/The Villa of Greeley whose mailing address is. 1750 6th Ave Greeley CO 80631 eg City or Town State Zip Code +r� HEDULE ft?UMBER DESCRIPTION OF PROPERTY AS LISTED ON TAX ROLL LL E9486i K ci GR 809 ALL L13-14PT L11&15 W of RR R/W & PT L12 S&W of No.3 etc. %61-QS-4fj04) (1750 6th Ave, Greeley) J L •y C N F- n.. S•v= respectfully requests that the taxes assessed against the above property for the years A. D. 19....: :.., 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 311x 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 showing it's value in the '87/'88 market window. Summation: Subject is a set of economically obsolete dormitories, currently leased from the college. It requires some special considerations, so the task of setting that value was given the CBOE. The CBOE set that value at $800,000, based on the circumstances surrounding the property. After discussion and further review with the assessor, Petitioner requests the 1990 valuation be set at $1,000,000 actual value. 19 19 90 2 Value Tax Value Tax = Orig, 185, 160 16,404.81 O N Abate. 35,160 3,115.11 Bal. 150,000 13,289.70 { taxes (have) (kasc&xetct) been paid. Wherefore your petitioner prays that the taxes may be aba ¢cr refunded in the sum of $ 3,115. 11 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. O Ca\}org pSS )1?-;\ tS �R St Trustees of State Colleges/The Villa of Greeley Petitioner 0 at5tri1 491 03' ByAgen GR� Christopher D. Ruff t R&N Property Consultants 413 Main St ar PO Box 99 Address Wi_ndsor.,...CQ...aQ55Q (303) 686-7447 /�� 920245 OD-9- e_ ; fa 5, f'kil rz �� 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 11th day of March , A.D. 19...92..., at which meeting there were present the following members• Chairman George Kennedy, and Commissioners Constance L. Harbert, C. W. Kirby, Gordon 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.represented by 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 ap.prove.d...., and an abatement/refund be allowed (approved or denied) (be allowed or not be allowed) on an assessed valuation of$.....3.5.,.1.60. ..... ...for $ 3111 2r(s) 19 90 total tax for th Chairman of Board of County Commissioners. STATE OF COLORADO, Pro fern County of Weld Ss. II DRaal,d D, Warden XX1{fft{7y1 IIIMIE3fy yti;Clerk of the Board of County Commissioners in and for the County of Weld State of Colorado, do hereby certify that the above and foregoing 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 WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County, at Greeley, Celorado , this 11th y of.., a C‘1 , A. D. 1992 4.4Y7UYYifIf Clerk. By.....4-4-6,-,/ Dt ACTION OF THE PROPERTY TAX ADMINISTRATOR Denver, Colorado, ....7�f�L�/ �7 , 19..i The action of the Board of County Commissioners, relative'to the within petition, is hereby —J approved>❑ approved in part $ 0 denied for the following reason(s) AAi TTEST: ymulep.a. 7ecretary. Property Tax Administrator. • 8;73O245 N o `' 9 a- ,~ C C N N ›...,4 b. O rW, « w y g O Z Qw O a) H 6 •d § ,_ ,0 o '�I O O t Q' a W IL ` IT. V L - o Y • u I.l ) o_ /y. u E Ea W o z ' v N �''° v I : ° . U o ,Q m ¢ v " v Aga a > a._ a o m 0 o $ y A ., C E O .� x L. w e e dw O. .E o v cd a ( qq " a 4, - o Il 31 a c rYIK❑❑_' > ' > PI : a' E . :ci t::ty 411___ CLERK TO THE BOARD P.O. BOX 758 GREELEY. COLORADO 80632 (303)358-4000 EXT.4225 COLORADO February 28, 1992 Trustees of State Colleges/ The Villa of Greeley 1750 6th Avenue Greeley, Colorado 80631 RE: SCHEDULE NUMBER 3319486 (0961-08-4-05-004) 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: GR 809 ALL L13-14PT L11&15 W of RR R/W & PT L12 S&W of No.3 etc. (1750 6th Ave, Greeley) . 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: \� 11 '' -7Lr-7 ,_: Yl titi1, .zti Deputy Clerl-to the Board XC: Assessor - W. Lasell County Attorney R & N Property Consultants PARCEL./SCHEDULE NUMBER: 0961-08-4-05-004/3319486 PROPERTY ADDRESS/CITY : 1750 6th Ave, Greeley COUNTY Weld OWNER/REPRESENTATIVE Trustees of State Colleges/The V.ill . of Greeley R&N CONTRACT NUMBER A0238 DATE SUBMITTED Dec 17, 1991 PETITIONERS VALUE: $1,000,000 CASE SYNOPSIS: Subject is a group of old dormitories moth—balled by UNC. They sat vacant for three years, then were offered for lease/sale. Bidders included the State (if UNC spent $1.OM to remodel into offices) , Weld County (decided they were too energy inefficient) , Wheeler (bid $100,000) . The Villa was paying $100,000/year, but was reduced to $72,000/yr in 1987. GRM: Assuming old income stream, a GRM of 6.0 yields a value of $600,000. Market: Current operators would bid up to $750,000 to buy if UNC sells. INCOME APPROACH TO VALUE : $ 600,000 INCOME APPROACH TO VALUE : $ 0 PRO•-FORMA INCOME ANALYSIS : $ 0 MARKET APPROACH TO VALUE 1988 : $ 750,000 PROPERTY INCOME AND EXPENSE ANALYSIS RENTAL INCOME Gross rents 100,000 CAM Reimburse Vac/Credit Loss 0 ',s 0 Adjusted Gross 0 100,000 OPERATING EXPENSES Advertising ERR% 0% Tn',ur nce ERR% 0% Grounds Maint ERR% 0% Janitorial/Clean ERR% 0t Management Fees ERR% 1,000 1% Maintenance/Repair ERR% 1,000 1% Property Taxes ERR% 0% Res/Replacements ERR% 0% Utilities E.RR%, 0% Trash removal ERR% 0% Misc Category ERR% 0% Misc Category ERR% 0% Total Expense ERR% 2,000 2% Cap Rate (expensing actual taxes) : 0.100 GRM: 6.00 0 -- _.._.___..__.._.., INCOME VALUE : $ 0 0.100 100,000 -- 2,000 INCOME VALUE : $ 600,000 0.100 — PRO—FORMA INCOME ANALYSIS Leasable Square Footage: SF Avg Gross Rent Rate $ Potential Gross Income : $ 0 Vacancy/Collection Loss: t Operating Expenses Cap Rate (off t rtx=.025) : 0.130 PRO- FORMA INCOME INDICATION OF VALUE: $ 0 07,0245 PROPERTY TAX CONSULTANT - CLIENT AGREEMENT Client : errif Viw-4 Ar GRgEY , ING Property Address: f7S6 &TN /►VJ City : CREEt.,EY County WELD Parcel Number : Oqo -0g-`6 -05-062/ (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, avl prev,o 5 years.CDP G, 1 Agreed: 6U z — ZP-9( t) (date) Page 2 RE: BOE - TRUSTEES OF STATE COLLEGES ORIGINAL ADJUSTED Land $ 0, 300 $ 87,300 Improvements DR , Personal Property 1,066, 131 712,700 - : TOTAL ACTUAL VALUE 2 $ 1. 153. 431 $ 800.000 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 tha.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) t 910894 Hello