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RESOLUTION
RE: THE BOARD OF EQUALIZATION, 1991, WELD COUNTY, COLORADO
PETITION OF:
HERTZKE LAWRENCE H
4902 W 12 ST
GREELEY, CO 80634
DESCRIPTION OF PROPERTY: PIN: R 1933586 PARCEL: 095902441005 - GR 2P-1 Ll
& 2 PLUMB 2ND ADD%3835 W 10 ST%
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 represented by Chris Ruff, R & N Tax
Consultants, 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. As such, this Board finds
that the Petitioner failed to meet 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, affirmed.
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
910890
Page 2
RE: BOE - HERTZKE LAWRENCE H
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)
Selecting the Arbitrator: In order to pursue arbitration, you
must notify the OBOE 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.
910890
Page 3
RE: BOE - HERTZKE LAWRENCE H
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 7th day of August, A.D. , 1991.
A[n11 ����/,�� � BOARD OF COUNTY COMMISSIONERS
ATTEST: 'Vfrall a244'n WELD COUNTY, COLORADO
Weld County Clerk to the Board EXCUSED
Gordon E. Lacy, Chairman
By: /�n�ly; r
y
Deputy Clerk to the o d eorge ::g7 ;7,7
APPROVED AS TO FORM:
ions ce . HarberE
li0 "
Assistant County Attorney/41 4/71.4.,
C. W. Kirby
W. H. Webster
910890
BOE DECISION SHEET
PIN #: R 1933586 PARCEL #: 095902441005
HERTZKE LAWRENCE H
4902 W 12 ST
GREELEY, CO 80634
HEARING DATE: August 7, 1991 TIME: 10:00 A.M.
HEARING ATTENDED? ON) NAME:
AGENT NAME L INTERNATIONAL
K �, ���-
DECISION:
DECREASE IN VALUATION
INCREASE IN VALUATION
NO CHANGE IN VALUATION
ASSESSMENT RATIO
ACTUAL VALUATION
ORIGINAL ADJUSTED
Land $ 214424 $
Improvements OR
Personal Property 200576
Total Actual Value $ 415000 $
COMMENTS:
MOTION BY (1_1A TO
SECONDED BY ,H L.0 Lacy f 4 — (Y/N)
Kennedy 430N)
"ye__Failed to meet burden of proof Harbert �7i' N)
>(_ Comparables inadequate Kirby 44 N)
Assessor's data unchallenged Webster Q]i )
Other:
RESOLUTION N0. 910890
/ OFFICE OF COUNTY ASSESSOR
/ 915 10th STREET
I/ NOTICE OF DENIAL GREELEY,COLORADO 80631
PHONE(303)356-0000, EXT.4256
'lupe GR 2P-1 LI 6 2 PLUMS 2ND ADD%3835 W 10 ST%
COLORADO
3835 W 10 ST GREELEY
OWNER H'ERTZKE LAWRENCE H
ERIS INTERNATIONAL PARCEL 095902441005
PIN R 1933536
413 MAIN YEAR 1991
',iI ECG SUR CO 00550 - LOG 01659
05/15/1991
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:
NO CHANGE HAS BEEN MADE TO THE ACTUAL VALUATION OF THIS PROPERTY.
CULORADO 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 ACTUAL VALUE ACTUAL VALUE
OF VALUE PRIOR TO REVIEW AFTER REVIEW
LAND 2142424 2142424
IMPS 2002576 2001576
TOTALS $ $ 4152000 $ 4152.,00
If you disagree with the Assessor's decision,you have the right to appeal to the County Board of Equalization for further consideration,
39-8-10601(a),C.R.S. Please see the back of this form for detailed information on filing your appeal.
WARREN L. LASELL 91.0®90
By: 06/13/91
WELD COUNTY ASSESSOR DATE 17
15-DPT-AD
F797 PR-207-97,91 ADDITIONAL INFORMATION ON REVERSE SIDE
. tt
‘Itte
CLERK TO THE BOARD
P.O.80X 7..
I GREELEY,COLORADO.0032
OM)3044000 EXT.422.
O
COLORADO
July 23, 1991
Parcel No. : 095902441005 PIN No. : R 1933586
HERTZKE LAWRENCE H
4902 W 12 ST
GREELEY, CO 80634
Dear Petitioner(s) :
The Weld County Board of Equalization has set a date of Wednesday, August
7, 1991, at or about the hour of 10:00 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.
91 OCRS°
HERTZKE LAWRENCE H - R 1933586
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,
BOARD OF EQUALIZATION
andlaithehl
Donald D. Warden,
Clerk to the B��11ard
BY: 71
Carol A. Harding, Dvurti
cc: Warren Lasell, Assessor
ERIS INTERNATIONAL,
a.4.1,t�.31
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1322 74'4 5ilecc42 Cra
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- - O44 /- - - -- c/Se200 :v- 78O_s,F =_ 28.08---- --
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COMPARABLE SALE
123
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Y ?ACb*_ f i";,. .O. t 3., a i-11
•
',+qt tiY'A:+�. ';-R . ice. —i
.Y 1. r
PIN: 2968386 PARCEL #: 96106323001
OCCUPANCY: OFFICE
ADDRESS: 23 AV 804
GREELEY
SALE DATE: 09/25/87
SALE PRICE: $119,000
GRANTOR: PIONEER PRESS
GRANTEE: AMERICAN NATIONAL RE BLDG SIZE: 3, 618
CONSTRUCTION-QUAL: AVG YEAR BLT: 1967
PR/SF(IMPS) : $28.69 CLASS: S
PR/SQ FT: , 132.89 WALL HEIGHT: 10 FT
LAND SIZE: 5,069
LAND VALUE: $15,207
LAND/BLDG RATIO: 1.40
REMARKS:
I
i )
COMPARABLE SALE
85
1I a y t, fF� .v'f..
f 3 F .M1 `
+ llk S3;-11
yq^nt i hXry n'! rP,� 5
5. r
` 1
( ) PIN: 1933086 PARCEL #: 95902440003
OCCUPANCY: OFFICE
ADDRESS: 37 AVCT 903
GREELEY
SALE DATE: 08/01/86
SALE PRICE: $165,000
GRANTOR: MOORE, HAROLD
GRANTEE: DANIELS, BILL BLDG SIZE: 4,000
CONSTRUCTION-QUAL: LOW YEAR BLT: 1975
PR/SF(IMPS) : $30.32 CLASS: S
PR/SQ FT: '$41.25 WALL HEIGHT: 12 FT
LAND SIZE: 12,497
LAND VALUE: $43 ,739
LAND/BLDG RATIO: 3.12
REMARKS:
al_0°r.'93'
COMPARABLE SALE
77
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L
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PIN: 1752986 PARCEL I: 95901322026 -
OCCUPANCY: OFFICE -
ADDRESS: 30 AV 907
GREELEY
SALE DATE: 08/24/89
SALE PRICE: $165,000
GRANTOR: UNITED BANK OF GREELEY
GRANTEE: LUCY, ROBERT BLDG SIZE: 4,606
CONSTRUCTION-QUAL: AVG YEAR BLT: 1959
PR/SF(IMPS) : $13.41 CLASS: D
PR/SQ FT: $35.82 WALL HEIGHT: 8 FT
LAND SIZE: 12,375
LAND VALUE: $57,172
LAND/BLDG RATIO: 2.69
REMARKS: 1 FLR OFFICE 3274 SF BSMT OFFICE 1332 SF
TOTAL FINISHED AREA 4606 SF
21.0990
4 IBIT
I -a&--
PARCEL/SCHEDULE NUMBER: 0959-02-4-41-005
PROPERTY ADDRESS . 3835 W 10 ST, GREELEY
COUNTY : WELD
OWNER/REPRESENTATIVE : Hertzke, Lawrence H
R&N CONTRACT NUMBER . 0022-2-HERTZKE
DATE SUBMITTED : May 17, 1991
PETITIONERS VALUE: $300,000
CASE SYNOPSIS:
Subject is a hodgepodge building with some Gold Suite operations and some
regular tenants. Actual 1989 net was 19,766; actual 1990 net was $29,165.
1988 net was 28,132, and 1987 was 37,292. Capping at 10.5$, at no time in
the last 4 years has subject's value been greater than 355,000! ! This
valuation concerns the years 1989 and 1990, where the maximum income value
was 1990 at 278,000. A reconstructed approach is presented, showing max
value at $295,000. Petitioner's request of $300,000 is more than fair.
INCOME APPROACH TO VALUE FOR 1990: S 277,762 Cap/GRM: 0. 105
INCOME APPROACH TO VALUE Reconstr: $ 294,971 Cap: 0. 105
MARKET APPROACH TO VALUE FOR 1990: $
COUNTY/IDEALIZED INCOME APPROACH : $ 0 ///0. 130
COUNTY'S CURRENT VALUATION 1991 : $ 415,000
(LAND-214,424 ) (IMPS-200,576 )
TOTAL COUNTY VALUATION/SF $ERR/SF
NET LEASABLE SQUARE FOOTAGE: 12,510 GROSS SQUARE FOOTAGE:
21.0590
R&N PROPERTY CONSULTANTS 413 MAIN ST WINDSOR, CO 80550 303-686-7447
PROPERTY INCOME AND EXPENSE ANALYSIS
ACTUAL (AS AVAILABLE) AND RECONSTRUCTED
Reconstr 1990
RENTAL INCOME
Gross rents 98,196 45,365 net
CAM Reimburse 7,800
Vac/Credit Loss 9,820 10% 0 %
Adjusted Gross 96,176 45,365
OPERATING EXPENSES
Advertising 0% 0%
Insurance 1,714 2% 0%
Grounds Maint 400 0% 0%
Janitorial/Clean 2,700 3% 0%
Management Fees 5,000 5% 100 0%
Maintenance/Repair 4,000 4% 5,343 12%
Property Taxes 10,480 11% 10,757 24%
Res/Replacements 0% 0%
Utilities 19,888 21% 0%
Trash removal 600 1% 0%
Misc Category 0% 0%
Misc Category 20,422 21% 0%
Total Expense 65,204 68% 16,200 36%
Cap Rate (expensing actual taxes): 0. 105 GRM:
96,176 - 65,204
INCOME VALUE Reconst: $ 294,971
0.105
45,365 - 16,200
INCOME VALUE 1990: $ 277,762
0.105
COUNTY/IDEALIZED INCOME APPROACH
Leasable Square Footage: 12,510 SF
Avg Gross Rent Rate S
Potential Gross Income : $ 0
Vacancy/Collection Loss:
Operating Expenses
Cap Rate (eff tax=.025) : 0.130
COUNTY INCOME INDICATION OF VALUE: $ 0
Assessor Copy
0022-2-HERTZKE
R&N PROPERTY CONSULTANTS 413 MAIN ST WINDSOR, CO 80550 303-686-7447
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