HomeMy WebLinkAbout910773.tiff RESOLUTION
RE: THE BOARD OF EQUALIZATION, 1991, WELD COUNTY, COLORADO
PETITION OF:
WINTHRUP INVESTMENTS
% AMERICAN SELF SERVICE
P 0 BOX 2351
GREELEY, CO 80632
DESCRIPTION OF PROPERTY: PIN: R 0054787 PARCEL: 095924201025 - GR GGTH1-B
A PARCEL OF LAND IN TR H GALLERY GREEN III BEG NW COR OF TR H THENCE S72D45'E
231.78' S26D50'W 437' N75D37'W 212.34' THENCE ALONG ARC OF CURVE TO RIGHT LONG
CHORD BEARS N19D59'E 118.12' THENCE N25D35'E 326.95' TO BEG
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 Property Tax Advisors, Inc. ,
who submitted written data concerning this petition, 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
910773
Page 2
RE: BOE - WINTHRUP INVESTMENTS
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)
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 CBOE 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
910773
Page 3
RE: BOE - WINTHRUP INVESTMENTS
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.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 29th day of July, A.D. , 1991.
(//��� ����/® ��///// BOARD OF COUNTY COMMISSIONERS
ATTEST: /1 /_ '""'v/ Maw^�'�� WELD COUNTY, COL ADO
Weld County Clerk to the Board
Goa `I, c irman
I i/
BY: ,._.,,✓G
De;)-1 Clerk to t�e Board George Ke nedy, Pro-Tem
APPROVED AS TO FORM: /- 7,:,rC��
Constance
�L. '/Hareprt"
Assistant County Attorney C. irbyJ^
01
W. H. Webster
N2
910773
BOE DECISION SHEET
PIN #: R 0054787 PARCEL #: 095924201025
WINTHRUP INVESTMENTS
7 AMERICAN SELF SERVICE
P 0 BOX 2351
GREELEY, CO 80632
`1
HEARING DATE: July0p6, 1991 TIME: 8:30 A.M. L /� /
HEARING ATTENDED? (Y6I j NAME: �- r ' ��Z?GQ�--ci-e- -J tY
AGENT NAME: PROPERTY TAX ADVISORS INC � x L '
DECISION:
DECREASE IN VALUATION
INCREASE IN VALUATION
NO CHANGE IN VALUATION x
ASSESSMENT RATIO
ACTUAL VALUATION
ORIGINAL ADJUSTED
Land $ 78350 $
Improvements OR
Personal Property 566238
Total Actual Value $ 644588 $
COMMENTS:
MOTION BY , A1 TO - n -rt
SECONDED BY cA4ly Lacy N)
Kennedy N)
Failed to meet burden of proof Harbert it3N)
Comparables inadequate Kirby N)
Assessor's data unchallenged Webster MN)
Nie Other: ) `
j_,il yc�yry�2 .— j/a-d_6—,.1-a-<..( .hat`Y--1' u1-cu,( te9r3
l RESOLUTION NO._ y1O77J
ObI 1CP.OP lOCSl Y AJSLSSOIt
915 10th TI21 AS
NOTICE OF DENIAL GREELEY,COLORADO 80631
PIIONR 1303;356-4000. EXT.4256
will C GR GGTH1-B A PARCEL OF LAND IN TR H GALLERY
GREEN III BEG NW COR OF TR H THENCE S72D456E
COLORADO 231 .786 S2611501 id 4376 N751137IW 212.346 THENCE
ALONG ARC OF CURVE TO RIGHT LONG CHORD BEARS
N190596E 118.126 THENCE N25D356E 326.956 TO BEG
2858 31 AV GREELEY
OWNER WINTHRUP INVESTMENTS S LTD
PROPERTY TAX ADVISORS INC PARCEL 095924201025
PIN R 0054787
3090 SOUTH JAMAICA CT SUITE 204 YEAR 1991
AURORA CO 80014 LOG 04086
06/03/1991
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.
COLORADO LAY 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 781350 782350
IMPS 5662238 5662238
TOTALS $ $ 6442588 $ 6442558
If you disagree with the Assessor's decision,you have the right to appeal to the County Board of Equalization for further consideration,
39-8-1060)(a),C.R.S. Please see the back of this form for detailed information on filing your appeal.
By: WARREN L. LASELL 06/10/91
WELD COUNTY ASSESSOR DATE 168
15-DPT-A D
Form PR-207.67/91 ADDITIONAL INFORMATION ON REVERSE SIDE el..0773
1
C
PROPERTY
TAX 3090 S. JAMAICA CT., • SUITE 204 Y AURORA, COLORADO-80014 • (303) 368-0500
ADVISORS,
INC. r;
Tv I :_
July 23, 1991
Weld County Board of Equalization
ATTN: Ms. Carol Harding
915 - 10th Street
Greeley, Colorado 80631
RE: P.I.N. Numbers R 2598386
R 0054787
To The Honorable Board:
We are hereby submitting, as written, our protests on the above—referenced properties.
We will be unable to attend our hearings scheduled for:
July 26, 1991 at 8:30 AM
and wish the Honorable Board to consider our protest as written.
May I take this opportunity to thank you for your consideration.
Very truly yours,
PROPERTY TA�ADVISO S
7tlih /L
Beldon Wright
BW/nik
BWWELD.107
Enclosure
cc: Michael Sampson, Chief Appraiser — Assessor's Office
Sy al.;::::73
Petition To: COUNTY BOARD OF EQUALIZATION
Subject: APPEAL OF REAL PROPERTY VALUATION
County: Weld
Schedule Number: 80054787 PTA No. 1322
Property Address: 2858 - 31st Avenue, Greeley
Property Owner: Winthrup Investments I Ltd.
Agent: PROPERTY TAX ADVISORS, INC.
3090 South Jamaica Court, Suite 204
Aurora, Colorado 80014
(303) 368-0500
By. Beldon Wright Date: July 19, 1991
Attachments: Photograph(s) of Subject Property
x Income Approach
Market Approach
x Cost Approach
Uniformity
X Correlation
. PETITIONER ' S FINAL ESTIMATE OF VALUE: $ 529,950
Site Size 97,937 YOC 1985 Effective Bldg. Age 5
Gross Building Area 40,370 SF Remaining Econ. Life 35
Land-to Bldg. Ratio 2 :1 Zoning Constr.
Use: Mini-Storage Warehouse
1.3'1.0773
Property Address: 2858 - 31st Avenue
FINAL ESTIMATE OF VALUE: $529,950
CORRELATION AND CONCLUSIONS:
Good correlation for the two approaches to value. Petitioner gives equal weight
to each:
Cost = $535, 100
Income = $524,800
$1 ,059,900 = $529,950
2
E41.0771
c
Property Address: 2858 - 31st Avenue
COST APPROACH TO VALUE _ $ 535, 100
Excellent
Type: Mini-Storage Class: S
Average
Land: 97 93'7 sf Building: 40,370 sf Low Cost X
Y.O.C. 1985
Adjusted Base Cost: $ 12.93 /sf
Source: Assessor
40,370 sf x $ 12.93 /sf = $521 .984
sf x $ /sf =
sf x $ /sf =
$ 521 ,984 RCN
Depreciation: 12.5 % c 87.5 % Good
Source: Straight-Line Condition: Average
$ 456,736 RCNLD
Deferred Maintenance = $
Curable Functional = $
Incurable Functional = $
Economic Obsolescence = $
Depreciated Ancillary Improvements = $
Land Value = $ 78,350
VALUE BY COST APPROACH = $ 535,086
Say: $ 535, 100
COMMENTS:
91.O77/
gkrle.. r
Property Address: 2858 - 31st Avenue
INCOME APPROACH TO VALUE _ $ 524,800
GLA: 40,370 sf Rental Rate: $ 4.00 sf
Source: Market
Factors Affecting Rental Rate:
40,370 sf x $ 4.00 /sf = $ 161 ,480
sf x $ /sf= $
sf x $ /sf = $
Potential Gross Income $ 161 ,480
Source: owner Occupancy Rate = x .65 %
Effective Gross Income = $ 104,962
Source: Market Expenses = 358 minus $ 36,737
Net Operating Income = $ 68,225
Source: Market Capitalization Rate = . 13
$ 524,810 say
VALUE BY INCOME APPROACH = $ 524,800
COMMENTS:
O
Petition to: COUNTY BOARD OF EQUALIZATION
Subject: APPEAL OF REAL PROPERTY VALUATION -= - -
County: Weld
Schedule Number: R0054787
Property Address: 2858 31st Avenue
Property Owner: Winthrup Investments I Ltd.
Agent: PROPERTY TAX ADVISORS, INC.
3090 South Jamaica Court, Suite 204
Aurora, Colorado 80014
(303) 368-0500
By: "a` Date: 7-7 i
Attachments:
1. Assessor's Notice of Determination
2. Agency Agreement
3. Supporting Documentation
Attached
177 To Follow
Submitted to Assessor
W:1322
94.enfi
Property Tax Advisors, Inc. ( 303 ) 368-0500
3090 S. Jamaica Ct . , Suite 204
Aurora, Colorado 80014
CONSULTANT - AGENCY AGREEMENT
Property Owner: Winthrup Investments I Ltd.
County: Weld
P.I.N. Property Address
R0054787 2858 31st Avenue
The undersigned hereby appoints and authorizes Property Tax Advisors, Inc. as its Agent
and Consultant in the preparation and execution of a real estate assessment appeal
and/or appeals on behalf of the undersigned before the County Assessor, the County
Board of Equalization, an Arbitrator, or, as an expert witness, before the Colorado State
Board of Assessment Appeals, or a court of law in regard to the above enumerated
property and/or properties for the assessment years 1989 — 1992. The undersigned
further authorizes Property Tax Advisors, Inc., as agent of the undersigned, to execute
and cause to be filed on behalf of the undersigned, in the name of the undersigned, any
and all documents relating to an appeal of of the subject assessment and/or assessments.
This agreement is executed this Lr-� ( ss day of ► at/ . 1931.
THE PARAGON GROUP, INC. , as Receiver for
BY: Arneri, Sellery Storage
BY:
cy arc a, Property Manager
APPROVED: Property Tax Adv sors, Inc.fB ? - Lc—
/302°2
S1.0771
•
s \ • ;SL4--;--
r
CLERK TO THE BOARD
P.O. BOX 758
OREELEY,COLORADO 80632
C. (303)366. 000 EXT.4225
COLORADO
July 18, 1991
Parcel No. : 095924201025 PIN No. : R 0054787
WINTHRUP INVESTMENTS
% AMERICAN SELF SERVICE
P 0 BOX 2351
GREELEY, CO 80632
Dear Petitioner(s) :
The Weld County Board of Equalization has set a date of Friday, July 26,
1991, at or about the hour of 8:30 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 Boards 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.
twq� 4^�.nnsr)?
WINTHRUP INVESTMENTS - R 0054787
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,
BO D OF EQU IZA ON
���[
Donald D. Warden,
Clerk to the B rd
BY:
arol A. Harding, Deputy
cc: Warren ',ascii, Assessor
PROPERTY TAX ADVISORS INC,
04 ct4- 1
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