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Home My WebLink About920892.tiff I! � ADMINISTRATOR - FORM 920 1/66-6/90 PE )N FOR ABATEMENT OR REFUND OF TAXES--c. 'ECKEL CO. DENVER 36312 Petitioners: Use this side only. Greeley Colorado, June 22 l9 92 \ City or Town To The Honorable Board of County Commissioners of Weld County Gentlemen: The petition of Potter Savings and Loan/ c/o Wilhite & Associates whose mailing address is- 25107 Genesee Trail Rd Suite 202 Golden CO 80401 City or Town State Zip Code SCHEDULE NUMBER DESCRIPTION OF PROPERTY AS LISTED ON TAX ROLL R-0054887 A PARCEL OF LAND BEING ALL TR E PT TR B & PT TR H (0959-24-2-01-026) GALLERY GREEN III BEG AT NELY C0R (etc. ) (3005 W 29 St, Greeley) Cr, O 7 y 1_1 respectfully requests that the taxes assessed against the above property for the yearrA. D. 19 891., 19 90 , are erroneous, illegal, or due to error in valuation for the following masons: (Completely describe the circumstances surrounding the incorrect value or tax.) In accordance with Senate Bill 91-231, petitioner requests review and adjustment of the 1991 and 1990 assessed value. Subject's over-valuation is verified by the assessment reduction the property received in 1992 and is further verified by the attached report showing it's value in the appropriate time periods for the earlier tax years. Summation: Subject was overvalued, based on both income and market analysis as presented in the attached report. Property value was appealed in 1992, and based on the evidence presented, actual value was set at $830,000 ($59,800 assessed) . Petitioner requests the 1990 and 1991 values be adjusted to the same value, as the same circumstances and basis for value existed for those two periods. 19:.9Q. 19..91.. Value Tax Value Tax Orig. 300,500 26,623. 70 300,500 26,722.26 Abate. 59,800 5,298. 16 59,800 5,317.77 Bal. 240,700 21,325.54 240,700 21,404.49 The taxes (have) (lfaxlrot) been paid. Wherefore your petitioner prays that the.taxes may be abadxsdxos refunded in the sum of $ 10,615.93 • 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. Potter S&L/Wilhite & Associates/M. Garry Petitioner By U t�! Agent Christop er D. Ruff R&N Property Consultants 413 Main St +` PO Box 99 Address W.indsox., CO...80550 (303) 686-7447 ac"-. ' 1-��, Pc 1 !ff 1`' iy/r;1? l9GY, j 920892 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 9th day of September , A.D. 19....92.., at which meeting there were present the following members' Chairman..Ge.o.rge Kenne.dy..arid._Commissioners Constatnce L. Harbert, Gar.don...Lacy.,...G..W-,...Kir..by.,-..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.,r.eprs.e.nted by Christopher Ruff and taxpayer Potter Savings and Loan not being present; and (name) (n,mcl 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... ....c.ancurs with the recommendation of partially (concurs or does not concur) the assessor and the petition be approved , and an abatement/refund be allowed (approved or denied) (be allowed or not be allowed) on an assessed valuation of$ 59,800 for $ 5,317._ 7.-._.. -...total tax fort year(s) 19 91 only, airman Board of County Comm: STATE OF COLORADO, ss. County of Weld I, ....ilonald..I1...Warden , aiiiiiitigAniMYESP6M6P6 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 Greedsy, Coicrado , this 9th .day of September , A. D. 19 9Z /r� eufttY Clerk. i' -C i ) , /• By d o,.rf ..... 3/Y I a/,l , j Depyty._\, ACTION OF THE PROPERTY TAX ADMINISTRATOR Denver, Colorado, 70-/ , 19 ! ion of the Board of County Commissioners, relative to the within petition, is hereby approved; approved in part $ O denied for the following reason(s) ATTEST: 1 _ _ ASecretary. Property Tax Administrator. • a) coc vi a) > o y c O S— r " " O 8 O wa) ,— > lA N 8. g C ,O�, t: u 2 O m 0 Q4-) CNJ < H V u Q O O a. T "' O u i t.: nrn� a �' u c d W O CO 0 H O ,. a) v, -o -P Q " 'sys S E a" ..- o U O w i C L 'd ,. a) .V. o..y� u .0 Q a) o .c u >) m a7 0 tie, Lt. 0 (d tl- 2 4 20 LiN fa '^ 0 R'' a Y C;� " UM EE o ++ '..+ CL a) a) a1 J E w it o E. O a) m a cc E C a c .C .O 0A - 4 (-- 0 Z 3 c C ° 00 +-) r € o � ? � � o " x • > t ti Z v a) E o y m .0 a c .ea y �,w .Q V l ,- G 0) V ZY'�` V >' = O B .. O Gtt1 EL-GY.COI.ORADU 80631 • NOTICE OF ADJUSTMENT . PHONEt303)35e4000 IX'1.-1256 GR G61141-A A PARCEL OF LAND CBEING 'ALL TR E PT . TR 8 C PT TR H GALLERY GREEN III BEG AT NELY COR COLORADO OF TR E THENCE 526D50eW 138.32• S151116011 208.43• SO3D42eId 45.48e THENCE N63D439W 295.64• N26050►E 549.54e 5630101E 236• THENCE S26D50111 162.359 TO 3005 W 29 ST GREELEY ONNER POTTERS SAVINGS AND LOAN COMPANY • R L N PROPERTY CONSULTANTS PARCEL 095924201026 PIN R 0054887 413 MAIN STREET YEAR 1 992 WINDSOR CO 80 550 • WLOG 00347 06/28/1994 • 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): 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 SEEN 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 • I,AN9 117,399 117,399 IMPS 918,785 71 2,801 i ` TOTALS $ $ 1,036. 4$4 $ 83 O --- --_ — -- H you isegree 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. WARREN L. LASEL'L 06/04/92 WELD COUNTY ASSESSOR DATE 9'0392 24 A0 Per i07•er/9z ADDITIONAL INFORMATION ON REVERSE SIDE J PROPERTY INCOME AND EXPENSE ANALYSIS ACTUAL (AS AVAILABLE) AND RECONSTRUCTED 1989 1990 RENTAL INCOME Gross rents 112,459 101,552 ACT CAM Reimburse 0 0 Vac/Credit Loss 0 % 0 % Adjusted Gross 112,459 101,552 OPERATING EXPENSES Advertising 0% 0% Insurance 5,200 5% 5,200 5% Grounds Maint 545 0% 1,261 1% Janitorial/Clean 0% 0% Management Fees 12,000 11% 12,000 12% Maintenance/Repair 5,152 5% 21, 773 21% Property Taxes 31,501 28% 5,225 5% Res/Replacements 0% 0% Utilities 7,170 6% 10,522 10% Trash removal 0% 0% Misc Category 0% 0% Misc Category 0% 0% Total Expense 61,568 55% 55,981 55% Cap Rate (expensing actual taxes) : 0.105 GRM: 112,459 - 61,568 - INCOME VALUE 1989 : $ 484,676 0.105 101,552 - 55,981 INCOME VALUE 1990: $ 434,010 0.105 PRO-FORMA INCOME APPROACH Leasable Square Footage: 41,450 SF Avg Gross Rent Rate $ 3.35 Potential Gross Income : $138,858 Vacancy/Collection Loss: 10% Operating Expenses 15% Cap Rate (eff tax=.025) : 0.130 PRO—FORMA INCOME INDICATION OF VALUE: $ 817,126 Assessor Copy 0513—WILHITE R&N PROPERTY CONSULTANTS 413 MAIN ST WINDSOR, CO 80550 303-6 ,,Z 47 PROPERTY TAX AGENT AUTHORIZATION Prop Owner/Rep : Potter Savings & Loan/Wilhite & Associates Property Address: 2989-3001 W 29th St City: Greeley County; Weld PIN($) ; R-0056887 (A) The undersigned, AS representative for owner, hereby agreed with R&N Property Consultants (henceforth R&N) that, fopithe real estate assessment years 1992 and all prior tax years, as to the proper* referred to above, R&N is hereby engaged and authorized to act as agent for the undersigned, in the preparation of a real estate assessment appeal and/or abatement petition for presentation to the County Assessor, the County Board of Eguslization (Cacti) , and any required higher levels of appeal. (B) Further, we also expressly authorize R&N to appear before any and a31 related hearings of the property tax appeal system, to act as our sole representative before such hearings and to make such presentations and decisions as necessary to effect a settlement of the real estate Valuation issue at hand. (C) This agreement further,. authorizes R&N, as agent of the undersigned, to exeouta and cause eo be filed on behalf of the undersigned, in the name of the undersigned, any and all documents relating to an appeal of the said assessments before the County Assessor, the C8OE, and higher levels of appeal. Agreed; in &J At tr e . er date R. p rty ons l • 920392 PARCEL/SCHEDULE NUMBER: 0959-24-2-01-026 PROPERTY ADDRESS 2985-3001 W 29th St, Greeley COUNTY Weld OWNER/REPRESENTATIVE : Potter S&L/Wilhite & Associates/Melody Garry R&N CONTRACT NUMBER 0513—WILHITE DATE SUBMITTED Jun 22, 1992 PETITIONERS VALUE: $830,000 CASE SYNOPSIS: Subject was foreclosed on in 1988. It experienced high vacancies in 1989 and 1990, as the income values of $484k and $434k indicate. Average rent rate of today is $3.34/SF. Pro—forma income at $3.35/sf indicates $817k. Current MAI appraisal delivered opinion of $800,000. Market portion used data from 1989-1991. Income approach presented 1989 and 1990 income (as discussed above) and presented discounted cash flow analysis using current rents to estimate $795,000. Request value be adjusted to $800,000. INCOME APPROACH TO VALUE FOR 1990 : $ 434,010 Cap/GRM: 0.105 INCOME APPROACH TO VALUE 1989 : $ 484,676 Cap: 0.105 MARKET APPROACH TO VALUE FOR 1990 : $ 829,000 PRO-FORMA INCOME APPROACH TO VALUE: $ 817,126 3.35/10/15/0.130 COUNTY'S CURRENT VALUATION 1992 : $ 1,036,206 (LAND-117,413 ) (IMPS-918,793 ) Appraiser Certification: The agent for the petitioner, Christopher D Ruff of R&N Property Consultants, is a certified appraiser in the State of Colorado. I have reviewed the valuation of the subject property and formed the opinion of value shown above based on my investigation of the information available to me. While I believe my valuation to be fair, I hereby disclose that I am acting as a consultant to the Petitioner; I am acting in a position of advocacy on behalf of the Petitioner, and my compensation is based on a percentage of the tax savings accruing to the Petitioner. R&N PROPERTY CONSULTANTS 413 MAIN ST WINDSOR, CO 80550 303-686-7447 9Z0;;j2 CLERK TO THE BOARD • P.O. BOX 758 1 GREELEY,COLORADO 80632 (303)356-4003 EXT.4225 O COLORADO August 27, 1992 Potter Savings and Loan % Wilhite & Associates 25107 Genesee Trail Road, Suite 202 Golden, Colorado 80401 RE: SCHEDULE NUMBER R-0054887 (0959-24-2-01-026) Dear Property Owner: 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 : A PARCEL OF LAND BEING ALL TR E PT TR B & PT TR H GALLERY GREEN III BEG AT NELY COR (etc. ) (3005 W 29 St, Greeley) . The meeting is scheduled for Wednesday, September 9, 1992 at 9:00 a.m. at which time you may be heard. The Assessor is recommending that the Board PARTIALLY 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„£o the Board XC: Assessor - W. Lasell County Attorney Agent - R & N Property Consultants .9PQr)Da ft4144 CLERK TO THE BOARD P.O. BOX 758 i •J GREELEY,COLORADO 80832 (303)356-4000 EXT.4225 4 COLORADO September 21, 1992 Potter Savings and Loan Wilhite and Associates 25107 Genesee Trail Road Suite 202 Golden, Colorado 80401 Re: SCHEDULE NUMBER R-0054887 Dear Petitioner: On September 9, 1992 the Board of Weld County Commissioners considered your petition for tax abatement, approved the 1991 abatement, and denied the 1990 abatement. Pursuant to Section 39-2-125(f) , C.R. S. , you have the right to appeal this decision to the State Board of Assessment Appeals within thirty days. You may obtain the appropriate forms and instructions from the Board of Assessment Appeals, Department of Local Affairs, 1313 Sherman Street, Room 420, Denver, Colorado 80203. Sincerely, Donald D. Warden, Clerk to the Board By: Deputy Clerk to the Board cc: Assessor R R N Property Consultants 9Z m 9, s . Q .co � • • •0 T W C7 H tv Ch I " CD <FD.C.�nnm b7 w F m Z P 3117 472 'nc4 3 m CWCH D50con ° "tam RECEIPT FOR CERTIFIED MAIL Co c03 to 3 n m m »v° `° `" NO INSURANCE COVERAGE PROVIDED N m c m O S J ' W N NOT FOR INTERNATIONAL MAIL J C] Es] 'd r'+7 a 3 g 0---.,g.y m m (See Reverse) a 001 ° 72433000 go 030333 STATE OF COLORADO o — y an z [ro7 �rep a228, $ g > "„ DIV OF PROPERTY TAXATION �\ m o 0 m C%3 ! $ 7.,. .-„, . 3 . 1313 SHERMAN ST ROOM 419 m w stn b !I m 3 7 a?m DENVER CO 80203 74 ° o m . o ow a._ m o c p Q9 N C 0 y n "-3 n C A • r-I � 0- a 6�i b z 6 3 m 5 Certified Fee -0 5 - < - m 4n 9 o v co co Special Delivery Fee I m o p fr. S a o Restricted Delivery Fee \y� 0 0 m co - co 0 W A a J O. Return Receipt showing ❑ ED ❑rr w M 3 to whom and Date Delivered W D a ro n • m u a 'aa d a o CD o^ CO m Return Receipt showing to whom. m — W d Q m 1,3i a tt �. (1.)5 Date, and Address of Delivery g N m o m m o Cxl m e m o y - oats, m m — j TOTAL Postage and Fees F m01 m ° g a-R J Z m N ., p I', D m m 3 ❑ ❑ 3 o o Postmark or Dale n a ^C m a x D S m 1-4. ❑ ❑ ❑ .J °m » a cc“ , am C. m N �D n S q� 3 - .Sr u. ` C S �N� 0-E.-tv 0 0[� i s co y O W z '� n O O - m o m a I nR O N D n 9 lti 4D vi 2 a y r?. m a m a m m a 0 - f7 C m m COr4. to x D O ut ^ r 6 d N TAX ABATEMENTS - DAY FILE 9/14/92 M. H. RADETSKY MARGARET SCHMIER JOHN D. & LISA F CHARBONNEAU ETAL STANLEY W. & REBECCA S KATZ POTTER SAVINGS & LOAN 9205:92 Hello