HomeMy WebLinkAbout930696.tiff RESOLUTION
RE: THE BOARD OF EQUALIZATION, 1993, WELD COUNTY, COLORADO
PETITION OF:
SAGER GEORGE A & LUANNE P
1007 3 AV
LONGMONT, CO 80501
DESCRIPTION OF PROPERTY: PIN: R 3038086 PARCEL: 096107102008 - GR 5341 L7
BLK8871213 12TH 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 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 not being present, 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:
930696
Asoaa7
Page 2
RE: BOE - SAGER GEORGE A & LUANNE P
ORIGINAL
Land $ 28,500
Improvements OR
Personal Property 190, 671
TOTAL ACTUAL VALUE $ 219, 171
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)
930696
Page 3
RE: BOE - SAGER GEORGE A & LUANNE P
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.
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.
930696
Page 4
RE: BOE - SAGER GEORGE A & LUANNE P
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 28th day of July, A.D. , 1993.
/ Jy, BOARD OF COUNTY COMMISSIONERS
ATTEST: ,' •_ff f17.�LxQ�^ ( WELD- COUNTY, COLORADO
?7YY((((bbp /M1Q/ /
Weld County Clerk to the Board (I
Constance rbert, Chairman
BY:
Deputy Clerk t he Boar W. ebster, Pyo-Tem
APPROVED AS TO FORM:
eorge Baxt r
County Attorney Dale K. Hall
EXCUSED
Barbara J. Kirkmeyer
930696
o� a93 -/
639j
BOE DECISION SHEET
PIN 8: R 3038086 PARCEL 8: 096107102008
SAGER GEORGE A & LUANNE P
1007 3 AV
LONGMONT, CO 80501
HEARING DATE: July 28, 1993 TIME: 3:00 P.M.
HEARING ATTENDED? (Y6V NAME:
AGENT NAME:
APPRAISER NAME: L�.a_-.r "-Ppd 4- lteb e_ z_
DECISION:
DECREASE IN VALUATION
INCREASE IN VALUATION
NO CHANGE IN VALUATION :Pt-
ASSESSMENT RATIO
ACTUAL VALUATION
ORIGINAL AD.FeTED
Land $ 28,500 $ a 4f747pa
Improvements OR
Personal Property 190,671 190 le , /
Total Actual Value $ 219, 171 $419) / 1
COMMENTS:
MOTION BY 73 Lug TO :be yl
SECONDED BY Baxter N)
Hall -- N)
Failed to meet burden of proofp roL'e J c/R-e- Harbert -- 4'N)
Comparables inadequate Kirkmeyer -- (Y/N) / e„ti)l--
Other: Webster -- ,p?/N)
RESOLUTION NO.
930696
(/"..--
OFFICE OF COUNTY ASSESSOR
1400 NORTH 17th AVE.
GREELEY, COLORADO 80631
NOTICE OF ADJUSTMENT PHONE (303) 353-3845, EXT. 3656
iiiiipe. GR 5341 L7 BLK88%1213 12TH ST%
COLORADO
1213 12 ST GREELEY
OWNER SAGER GEORGE A t LUANNE P
SAGER GEORGE A 6 LUANNE P PARCEL 09.6107102008
PIN R- 34,3 80.86
1007 3 AV YEAR 1993: .
LONGMONT CO 80501 LOG 01134 • •
05/19/1993
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 MARKET APPROACH.
AGRICULTURAL LAND VALUE IS DETERMINED SOLELY BY THE EARNING OR PRODUCTIVE
CAPACITY OF THE LAND, CAPITALIZED AT A RATE SET BY LANs
ALL OTHER PROPERTY, INCLUDING VACANT LAND, IS VALUED BY CONSIDERING THE COST,
MARKETS 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.
PETITIONER'S
1 ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE ACTUAL VALUE ACTUAL VALUE
OF VALUE PRIOR TO REVIEW AFTER REVIEW
LAND 289500 28,500
IMPS 207, 821 190,671
TOTALS $ $ 236, 321 $ 219,171
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 05/25/93
1. WELD COUNTY ASSESSOR DAT R5
F0;1;Fo 7.87/93 e-/4-) ,' 4'' « ADDITIONAL INFORMATION ON REVERSE SIDE 9 (�69()
1'17407-87/93 PR-0
.._.._�._..r_._.. __.... YOU HAVE THE RIGHT TO APPEAL :THE ASSESStjR'Sr-DECiSlON
The County o rd of Equalization will sit to hear.appeats:begineing Suiy fl and continuing through August 10 for
real properly (land and buildings) and personal property (furnishings, machinery, and ertuipment). 39-3-104 and
39-8-107(2), C.R.S.
APPEAL PROCEDURES:
If you cllogee;to appeal the Assesatgr's decision, mail or.deliver one copy of,ttiis'cornpleted form to the County
Board of Foi.falization,To preserve your right to appeal, your appeal must be POSTMARKED OP. DEL;vERE.D ON
OR BEFORE .Ss_li,.Y 1≥ FOR REAL PRQKFITY3 A.'iD,,IZ1LY•-.2c FQR-PERS0f ..PPOPER
WELD COUNTY BOARD OF EQUALIZATION
c. . < <-915 10th Street, P.O. Box f. s• -7IiG"S
• • • ' I. V Greeley. Colorado 80632
Telephone (303) 356 4000, Ext. 4225
c •v
1094TIFlC ATtN OFi1}RtNG: �' (
.
You will be notified of the time and place set for the hearing of your appeal.
BOARD r k ;\i. ,
COUNsl.
T OF EQUALIZATION'S DETERMINATION:
The County Board of Equalization must make a decision on your appeal and mail you a determination within five
business days. The County Board must conclude their hearings by August 10.
TAXPAYER-- -#�- I��!l'rs 0y,� .�. b� C. (! l f• Y �. .►G�J j _ c. 2r
•
•
if you are not sa=is€it with the Co� ty board of:Egoa,lization's decisiorli i 4 d -
Cgttnty Board of f quaiizat: 's•wti�tten d • y9u+$�btst�fiip withir};t�hirty.dayslc�f•the •
�- . +�9i6ion.vyitl� �sof��ta�ollavYie�9:r E.•.l,t. t � _ _ Y.; ...,.. • s 7 • ,
•
Board of Assessment Appeals (•SAA) G° C o r,: e , .> _•- •
.
Contort the BAA at 1313 Sherman, Room 315, Denver, Colorado 80203, (30:?.) 866-5880.
District Court:
9th Avenue and 9th Street, P.O. Box C
Greeley, Colorado 80632
..t., i c .: : ..u,..TelePhOne 303)066-A600,•Exit'45r20zz, ;.^ l ,r._; : ,; ,
ud► i�tritY�re: 4'"
WELD COUNTY BOARD OF EQUALIZATION
915 10th Street, P.O. Box 758
Greeley, Colorado 80632
Telephone (303) 356-4000, Ext. 4225
If you do not receive a determination from the County Board of Equalization,you must file an appeal with the Board
of Assessment Appeals by September 20.
•ro °f4a.,SEPVE YOUR APPEAL RIGHTS. YOU MUST PROVE YOU HAVE. F`(-ED A TIMELY APPEAL;
THEREFORE, WE RECOMMEND.ALL CORRESPONI ,Nt; .` f?E MA .ED s; PROOF OF MAILING.
PE TMON TO THE COUNTY BOARD OF EQUALIZATION
In the space below, please explain why you disagree with the Assessor's valuation. IN ACCORDANCE WITH
39-8'106(1.5), C.R:Sf, YOU MUST STATE YOUR OPINION OF VALUE IN TERMS OF A SPECIFIC DOLLAR
AMOUNT. Attach additional documents as necessary.
My submitted figures are accurate, my stated position is
defensible. I will not accept a 26% increase in valuation for
the period prior to 6/30/92 . I can accept the Prior Year Value
of $173,400.
•
, r �:
fr,.
.. •
930696
CLERK TO THE BOARD
P.O. BOX 758
GREELEY,COLORADO 80632
(303)3515-1000 EXT.4225
C.
COLORADO
July 9, 1993
Parcel No. : 096107102008 PIN No. : R 3038086
SAGER GEORGE A & LUANNE P
1007 3 AV
LONGMONT, CO 80501
Dear Petitioner(s) :
The Weld County Board of Equalization has set a date of Wednesday, July
28, 1993, at or about the hour of 3:00 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 5, 1993, and mailed to you on or before August
10, 1993.
Becdut2'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.
9306696
SAGER GEORGE A & LUANNE P - R 3038086
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 UALI ATI
illtilted
onald D. Warden,
Clerk to the Board
BY: P t[-�'-�
�
Carol A. Ha ding, Deputy/ \
cc: Warren Lasell, Assessor
930696
+▪ EXWIBIT
Illr
r .
t5AGc. c S
WELD C OiJNTY COLORADO
OFFICE OF WELD COUNTY ASSESSOR
1400 N. 17TH AVENUE
GREELEY, COLORADO 80631
PETITIONER: GEORGE A. & LUANNE P. SAGER
PIN NO: R3038086
PARCEL NO: 096107102008
BUILDING NO: 001
ADDRESS: 1213 12TH STREET
GREELEY, COLORADO 80631
1993 PROPERTY VALUATION
$ 185, 731
PREPARED BY
LARRY RODRIGUEZ
PROPERTY APPRAISER
930696
ASSESSED VALUATION
For tax purposes the subject property is assessed by the Weld
County Assessor' s Office under parcel number 096107102008, building
number 001 . The valuation for tax year 1993 by the assessor is
detailed as follows :
1993
Improvements Market Value $ 185, 731
Total Actual Value $ 185,731
Improvements Market Value:
Based on sales collected by the assessor ' s office, market indicates
value of $18. 88 per square foot for improvements of this type .
Subjects improvements consists of 9 , 838 square feet . 9 , 838 *
$18 . 88 = $185 , 731 .
Total Actual Value:
Total actual value according to the assessor ' s office is calculated
at $185 , 731 .
Support of Values :
Presented on the succeeding pages are the sales comparison approach
(market approach) to value, which is used to support the value
assigned by the county assessor ' s office. Two types of units of
comparison are used in the sales comparison approach, the square
foot method and the per unit method.
-3-
930696
SALES COMPARISON APPROACH
(SQUARE FOOT METHOD)
SUBJECT COMP. 1 COMP. 2 COMP. 3 CORP. 4
ADDRESS 1213 12TH STREET 2025 4TH AVENUE 2905 GLENDALE DR 2939 GLENDALE DR 2011 5TH AVENUE
GREELEY GREELEY EVANS EVANS GREELEY
SALES DATE 10/01/87 02/11/88 07/24/90 06/12/91
SALES PRICE $110,000 $221,000 $105,700 $121,500
LAND VALUE $8,706 $8,965
$11,560 $9,500
IMPS VALUE $185,731 $101,294
$212,035 $94,140 $112,000
IMPS SF. 9840 3824 6560 4160 5400
AVG. PRICE PER SF. $26.49 $32.32 $22.63 $20.74
YEAR BUILT 1910 1972 1978 1972 1970
QUALITY FAIR FAIR AVERAGE AVERAGE FAIR
CONDITION AVERAGE AVERAGE AVERAGE AVERAGE AVERAGE
CONSTRUCTION FRAME/SIDING FRAME/MASONRY FRAME/MASONRY FRAME/MASONRY MSNRY/CMTBLE
AMENITIES (Parking, $0 $1,847 $1,915 $1,097 $0 .
pools, garages, etc.)
ADJUSTMENT MATRIX:
AGE ($15,194) ($38,166) ($14,121) ($16,800)
SIZE
$120,320 $65,600 $113,600 $88,800
QUALITY $0 ($21,204) ($9,414) $0
CONDITION $0 $0 $0 $0
CONSTRUCTION ($10,129) ($21,204) ($9,414) ($8,960)
AMENITIES ($1,847)
($1,915) ($1,097) $0
TOTAL ADJUSTMENTS $93,150 ($16,888) $79,554 $63,040
ADJUSTED IMPS VALUES $194,444 $195,147 $173,694 $175,040
SUBJECT SF. 9840 9840 9840 9840
ADJUSTED SF. VALUE $18.88 $19.76 $19.83 $17.65 $17.79
ADJUSTED PRICE RANGE $17.65 - $19.83 PER SF.
ADJUSTED MEDIAN $18.78 PER FOOT
_4_
SALES COMPARISON APPROACH
(PER UNIT METHOD)
SUBJECT COMP. 1 COMP. 2 COMP. 3 COMP. 4
ADDRESS 1213 12TH STREET 2025 4TH AVENUE 2905 GLENDALE DR 2939 GLENDALE DR 2011 5TH AVENUE
GREELEY GREELEY EVANS EVANS GREELEY
SALES DATE 10/01/87 02/11/88 07/24/90 06/12/91
SALES PRICE $110,000 $221,000 $105,700 $121,500
LAND VALUE $8,706 $8,965
$11,560 $9,500
IMPS VALUE $185,731 $101,294 $212,035 $94,140 $112,000
NO. OF UNITS 20 8 12 6 8
SALE/PER UNIT $12,662 $17,670
$15,690 $14,000
IMPS SF. 9840 3824 6560 4160 5400
AVG. SF. PER UNIT 492 478 547 693 675
YEAR BUILT 1910 1972 1978 1972 1970
QUALITY FAIR FAIR AVERAGE AVERAGE FAIR
CONDITION AVERAGE AVERAGE AVERAGE AVERAGE AVERAGE
CONSTRUCTION FRAME/SIDING FRAME/MASONRY FRAME/MASONRY FRAME/MASONRY MSNRY/CMTHLR
AMENITIES (Parking, $0 $231 $160 $183 $0
pools, garages, etc.)
ADJUSTMENT MATRIX:
AGE ($1,899) ($3,181) ($2,354) ($2,100)
SIZE
$0 ($1,767) ($3,138) ($2,800)
QUALITY $0 ($1,767) ($1,569) $0
CONDITION $0 $0
$0 $0
CONSTRUCTION ($633)
($883) ($785) $0
AMENITIES ($231) ($160) ($183) $0
TOTAL ADJUSTMENTS ($2,763) ($7,758) ($8,028) ($4,900)
ADJUSTED UNIT VALUE $9,287 $9,898 $9,912 $7,662 $9,100
ADJUSTED PRICE RANGE $7,662 - $9,912 PER UNIT
ADJUSTED MEDIAN $9,499 PER UNIT
-5-
9306'9r,
OLDER AGE COMPARABLES
SALES COMPARISON APPROACH
(SQUARE FOOT METHOD)
SUBJECT COMP. 1 COMP. 2 COME. 3 COMP. 4 COMP. 5
ADDRESS 1213 12TH STREET 816 15TH STREET 1630 9TH AVENUE 1630 9TH AVENUE 1744 8TH AVENUE 1744 8TH AVENUE
GREELEY GREELEY GREELEY GREELEY GREELEY GREELEY
SALES DATE 03/30/90 08/07/89 01/03/92 01/04/88 07/25/90
SALES PRICE $64,000 $91,000 $76,000 $78,500 $70,000
LAND VALUE $6,000 $9,500
$9,500 $9,500 $9,500
IMPS VALUE $185,731 $58,000 $81,500 $66,500 $69,000 $60,500
IMPS SF. 9840 3436 6878 6878 3921 3921
AVG. PRICE PER SF. $16.88 $11.85 $9.67 $17.60 $15.43
YEAR BUILT 1910 1900 1902 1902 1905 1905
QUALITY FAIR FAIR FAIR FAIR FAIR FAIR
CONDITION AVERAGE BAD/WORN AVERAGE BAD/WORN AVERAGE AVERAGE
CONSTRUCTION FRAME/SIDING MSNRY/CMIBLK FRAME/SIDING FRAME/SIDING FRAME/SIDING FRAME/SIDING
AMENITIES (Parking, $0 $0 $0 $0 $0 $0
pools, garages, etc.)
ADJUSTMENT MATRIX:
AGE $0
$0 $0 $0 $0
SIZE $128,080 $59,240 $59,240 $118,380 $118,380
QUALITY $0 $0
CONDITION $0 $0 $0
$5,800 $0 $6,650 $0
$0
CONSTRUCTION. ($4,640) $0 $0 $0 $0
AMENITIES $0 $0
$0 $0 $0
[VIAL ADJUSTMENTS $129,240 $59,240 $65,890
$118,380 $118,380
ADJUSTED IMPS VALUES $187,240 $140,740 $132,390 $187,380 $178,880
SUBJECT SF. $9,840 $9,840 $9,840
$9,840 $9,840
ADJUSTED SF. VALUE $18.88 $19.03 $14.30 $13.45 $19.04 $18.18
ADJUSTED PRICE RANGE $13.45 - $19.04 PER SF.
ADJUSTED MEDIAN $18.18 PER FOOT
-6-
930696
OLDER AGE COMPARABLES
SALES COMPARISON APPROACH
(PER UNIT METHOD)
SUBJECT COMP. 1 COMP. 2 COMP. 3 COMP. 4 COMP. 5
ADDRESS 1213 12TH STREET 816 15TH STREET 1630 9TH AVENUE 1630 9131 AVENUE 1744 8TH AVENUE 1744 8TH AVENUE
GREELEY GREELEY GREELEY GREELEY GREELEY
GREELEY
SALES DATE 03/30/90 08/07/89 01/03/92 01/04/88
07/25/90
SALES PRICE $64,000 $91,000 $76,000 $78,500
LAND VALUE $70,000
$6,000 $9,500 $9,500 $9,500 $9,500
IMPS VALUE $185,731 $58,000 $81,500
$66,500 $69,000 $60,500
NO. OF UNITS 20 4 6 6 4
4
SALE/PER UNIT $14,500 $13,583
$11,083 $17,250 $15,125
IMPS SF. 9840 3436 6878 6878 3921 3921
AVG. SF. PER UNIT 492 859 1146 1146 980 980
YEAR BUILT 1910 1900 1902 1902 1905 1905
QUALITY FAIR FAIR FAIR FAIR FAIR FAIR
CONDITION AVERAGE BAD/WORN AVERAGE BAD/WORN AVERAGE AVERAGE
CONSTRUCTION FRAME/SIDING MSNRY/CMTBLK FRAME/SIDING FRAME/SIDING FRAME/SIDING FRAME/SIDING
AMENITIES (Parking, $0 $0
$0 $0 $0 $0
pools, garages, etc.)
ADJUSTMENT MATRIX:
AGE $0
$0 $0 $0 $0
SIZE ($4,350) ($6,792) ($5,542) ($6,900) ($6,050)
QUALITY
§0 $0 $0 $0 $0
CONDITION $1,450 $0 $1,108
$0 $0
CONSTRUCTION ($1,160) $0 $0 $0 $0
AMENITIES $0 $0
$0 $0 $0
TOTAL ADJUSTMENTS ($4,060) ($6,792) ($4,433) ($6,900) ($6,050)
ADJUSTED UNIT VALUE $9,287 $10,440 $6,792 $6,650 $10,350 $9,075
ADJUSTED PRICE RANGE $6,650 - $10,440 PER UNIT
ADJUSTED MEDIAN $9,075 PER UNIT
930697)
COMPARABLE SALES NO _ 1
I in �I
-71 p,
ADDRESS : 2025 4th Avenue APARTMENT UNITS : 8
Greeley, Co . 80631 SALES PRICE PER UNIT : $12 , 662
SALES DATE: October 1 , 1987 SALES PRICE PER SF: $26 . 49
SALES PRICE : $110 , 000 IMPROVEMENTS : 3 , 824 sf .
-10-
930696
COMPARABLE SALES NO _ 2
4.ttt
ill PIS nis•
III %l 0I\
•
ADDRESS : 2905 Glendale Dr . APARTMENT UNITS : 12
Evans , Co . 80620 SALES PRICE PER UNIT: $17 , 670
SALES DATE : February 11 , 1988 SALES PRICE PER SF. : $32 . 32
SALES PRICE : $221 , 000 IMPROVEMENTS : 6 ,560 sf .
-11-
•
93069r,
COMPARABLE SALES NO _ 3
C
• ,
n Y ,
N S
4 �
yam'
• fr ,
4 _ Ir
�`
ADDRESS : 2939 Glendale Dr . APARTMENT UNITS : 6
Evans , Co . 80620 SALES PRICE PER UNIT : $15 , 690
SALES DATE : August 24 , 1990 SALES PRICE PER SF. : $22 . 63
SALES PRICE : $105 , 700 IMPROVEMENTS : 4 , 160 sf .
-12-
93069G
COMPARABLE SALES NO _ 4
��. P
•
ADDRESS : 2011 5th Avenue APARTMENT UNITS : 8
Greeley, Co . 80631 SALES PRICE PER UNIT : $14 , 000
SALES DATE : June 12 , 1991 SALES PRICE PER SF. : $20 . 74
SALES PRICE: $121 , 500 IMPROVEMENTS : 5 ,400 sf .
-13-
93069S
May 17, 1993
WELD COUNTY ASSESSOR
1400 N. 17th Ave "^•`:
Greeley 80631 RE : 1213 12th St
ASSESSOR,
I cannot accept your increased valuation for- the above
shown property.
I am inclosing a schedule of Rents received along with
operating expenses for the year of 1991:, I have used an 11. 5
Cap rate and arrived at a valuation of :$114 , 652. . ,4
Rents in the Greeley area are now` begining toshow moderate
increase . However, prior to June 30 , 1992 this was`: not the case.
My building is older and with most of ';the units having share
baths , it simply cannot command the1hlgher rents consistent with
other buildings . •
. �
OWNERS ESTIMATE OF VALUE : $114 , 600
Sincerely,
Geo. Sa e 1`
% WELD COUNTY ASSESSOR
ca Cdr r' ;�1
1007 3rd Ave ijLongmont 80501 MAY 19 1993
-14- GREELEY,COLO.
Li / ,•
Foun.'tainhead
STATEMENT OF INCOME AND EXPENSES
Name of Property KENSINGTON APARTMENTS
Address 1213 12th St , Greeley
SPECIAL INFORMATION
Size of Ground Zoning
Number of Units 20 Age
Construction
Heat
LOAN INFORMATION
Rate
$ % Payable
Due
Rate % Payable
Due
$ Rate
Payable
Due •
INCOME DETAIL
Studio, 1 & 2 Bdrm Apartments . 8 Units have private Baths ,
the &±aaotif balance have share Baths .
Gross Monthly Income S Gross Annual Income 536 , 913 (Actual)
Est. Vacancy .
Adjusted Annual Income $ 36 , 913
ANNUAL OPERATING EXPENSES:
Real Estate Taxes, 19 $ N/A
Personal Property Tax, 19 $ N/A
Hazard Insurance 967
Other Insurance '$
Gas Electricity $
Water $ 6466
Sewer $ 3106
Resident Manager
S
Maintenance, Repairs and Supplies 10% 3691
Trash Removal $
$ 504
Telephone
aro.f.es.s.jonal Mngt $a 4200
$
$
Annual Total Expenses $ 23 . 7 2 R
Net Income Before Debt Service $
Principal & Interest Payments S
Annual Cash Flow $
Current Year Equity Increase $
Cash Flow Plus Equity Increase $
-15-
9a069G
PROTEST DETERMINATION
Petitioner filed a mail protest which was received in the Assessor's office on
May 19, 1993. A review of the value was performed and it was determined that the
property was suffering some functional constrain. It seems that some of tenants
must share plumbing facilities as only 8 apartments have their own bathrooms.
At this time the property was adjusted with the addition of 5% functional
depreciation.
Actual value prior to review $185,731
Actual value after review $168,581
REJECTION OF PETITIONER' S ESTIMATE
Listed on pages 14 and 15 are the petitioners estimate of value for the property
and a statement of how that estimate was derived. This is an income method for
estimating value, and is not valid for determining value on residential property.
In 1982, the State of Colorado passed legislation that stated only cost and
market methods may be used in the valuing of residential property for ad valorem
tax purposes. In 1992, with passage of Amendment I, it became law that only
market may used to value any class of residential property for ad valorem
purposes. The reason behind these measures is because of the different
assessment rates for residential and commercial property. Below is an example
of what would result if the income method of determining value were used and the
commercial assessment applied, compared with the market method being used and a
residential assessment rate.
Income Method Market Method
(Commercial) (Residential)
Actual value $114,600 $168,581
Assessment rate* 29% 12.86%
Assessed value $ 33,230 $ 21,680
Levy* .089854 .089854
Taxes $ 2,986
$ 1,948
*Assessment rates based on projected rates for 1993; Levy based on 1992 tax
levy.
APPRAISER' S RECOMMENDATION
It is my recommendation that the actual value for tax year 1993 on this
residential property be maintained at the adjusted protest level of:
$168,581
-16-
23069q
/ ./. 1
' W2it-in k
tejsat/j - - •• - a..
- " �[ iaa..' •0 "a I ";_ ` ` J i
f ' •' "-1 - I _
i ,� , 41 Li I° .I
1 hn I I •
��— 01,...r.1
` s ;n...I m� I r� , : ` Ia.. k' o,� � f.? Ia. 1 I €i I.,. ,. a' (I III
7‘ 744L.I -"" 'l z r I•,I, II al 4 xu. -1
n•p.v.r�ovau• - b. V . "".2
4' I` d ..0 Iv..l
„a.s� tH:L )
I —1 `P°n[ia`- II nix` /r.. \\g [
•••-••• 1„„,:7„i:
..aa ..i1 .I" :l a 2I• .r'i/ ,:•,,•'<• :# �„ .a ..°..r'. •�a 4'Y :`, ".I a..l..a
) •‘—...,J4 __)7
�w G
av+ _$..:-��`�( is as g:- . .. sv\' ? o,...H _cl [lit,..' "vi u.. ,.
0y3_
.A. .
•
.7.---ir's4r1-1,--,1H 'a-it,. . : , , • •-.. iz as, a ? n,..o", )
„,. ._____ _
,.,.., ,,.,
4„,". .,,, ..
.., ? _ a,,, ,
) /
a 13 a : :
—
- ., ...
: :
.
..
...-..-- —Lr:i ..,,-I 7.,i i—“,“ "
..—.—,.„ .
.
...._
e.,,ii, , ' `h •' nom
rota
�. u.ones `//."°/ a� ......I.'.. a ']e \'
•
u. ..n i a.. L• .' ... .,u..o, a.. �, nil ��• I •'JI1 Iu.vE°_
• .. _
33069'
AS0027
930696
FILE CONTAINS PHOTOS - SEE ORIGINAL FILE
SUBJECT PHOTOGRAPHS
f •Ti,�JJ r� yre
A 10
•� .� h i V t
�.:
\t 1t. Yom` ' \ ifs:fe •
•
T
! ±h
eigliri••
e\ aF. ♦t ! *.
,..�*),,..7.‘
„ .
4, \ , 4N P I •'-ryF .� e. r
d
•
e
it a Ai
IN
•
{IL ; - • I
-8-
:80696
SUBJECT F)I-1 0 2-1 10 GRAPHS
T- • " 1 JYk . ( ,1y♦ i.tl
it
:::::::::„C--:,')..,-_� 1�
..1-1„..„----
_C ,,...........,---E-:=
/
` y
1 /i A h:
FF •?
9 ti:
1 _
FJ4 A' 'ft i.,-•:•5`1",,n. 4^• 1 `An _-:^'� j'' �5Y ,,..
/."; S.rY =rt a
, « r,
�f .
ll n
Y
k--% ..,,,,,I:
—% ..__ — _
-9-
930696
Hello