HomeMy WebLinkAbout930747.tiff RESOLUTION
RE: THE BOARD OF EQUALIZATION, 1993, WELD COUNTY, COLORADO
PETITION OF:
KENDALL MARK A & MARY F
1909 21 AVE CT
GREELEY, CO 80631
DESCRIPTION OF PROPERTY: PIN: R 0036993 PARCEL: 095924201055 - GR GG-TK
TRACT K & PT TRACT I GALLERY GREEN III ADD BEG MOST SLY COR TR K N35057'W 70.5'
N31D46'E 202.93' N41D48'E 589.05' S17D46'E 407.84' TO N LN 29TH ST S89DW 93.94'
THENCE ALG CURVE TO LEFT 248.58' (R=390' C/A=36D31' CHORD S70D44'W 244.39' )
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 being represented by Marvin F. Poer and Company,
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:
930747
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Page 2
RE: BOE - KENDALL MARK A & MARY F
ORIGINAL
Land $ 62,801
Improvements OR
Personal Property 727,378
TOTAL ACTUAL VALUE $ 790. 179
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)
OR
930747
Page 3
RE: BOE - KENDALL MARK A & MARY F
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
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.
930747
Page 4
RE: BOE - KENDALL MARK A & MARY F
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 3rd day of August, A.D. , 1993.
kdil,th
BOARD OF COUNTY COMMISSIONERS
ATTEST: WEL COUNTY, COLORADO �
Weld County Clerk to the Board lll'/�.c.te,/"
Const nce L. I�arbert, Chairman
e/ / n
BY: �.ei4,, �t,�c��ic z q l / 7(-/1 / 2 4/?
Deputy Clerk to the Board \ W. 1Webster, Pro-Tem
APPROV AS TO FORM: < ° 1 �
eo�..�BB�axter n
�O in
ounty Attorney L z__Dal, K. Hall
y'1 1 a I 1 S. X-e t:°2J
/Barbara J. Kirkm/ft-SAX-eve
yer O
930747
9z - y
BOE DECISION SHEET 9 gp
PIN II: R 0036993 PARCEL II: 095924201055
KENDALL MARK A & MARY F
1909 21 AVE CT
GREELEY, CO 80631
HEARING DATE: August 3, 1993 TIME: 2:00 P.M.
HEARING ATTENDED? (Yf N) NAME: PE-ce 'c R I e wt i ti
AGENT NAME: MARVIN F POER & COMPANY TABOR CENTER E
APPRAISER NAME: S w a w 4
DECISION:
DECREASE IN VALUATION
INCREASE IN VALUATION
NO CHANGE IN VALUATION 7L
ASSESSMENT RATIO
ACTUAL VALUATION
ORIGINAL ADJUSTED
Land $ 62,801 $ teg8 80 /
Improvements OR
Personal Property 727,378 h/a r7I,3'/�
Total Actual Value $ 790, 179 $ 79D, / /79
COMMENTS:
MOTION BY E k TO (. ) k
SECONDED BY ( Baxter N)
Hall - N)
Failed to meet burden of proof Harbert N)
,i /V6Comparables iin.mMAuats Kirkmeyer - N)
Other: Webster -- N)
RESOLUTION NO.
530747
1400 NORTH 17th AVE.
GREELEY, COLORADO 80631
(11-IM NOTICE OF DENIAL PHONE (303) 353-3845, EXT. 3656
GR GG-TK TRACT K IL PT TRACT I GALLERY GREEN III
C• ADD BEG MOST SLY COR TR K N35D57'W 70.5' N31046'E
COLORADO - 252, 93 N41 D48' E 589.05' 517046'E 407.84• TO N LN
29TH ST S89DW 93.94' THENCE ALG CURVE TO LEFT
248. 58' I R=390' C/A=36031 ' CHORD 570044'W 244.39' )
3 331 0 W29 OST 0 GREELEY
OWNER KENDALL MARK A 6 MARY F , r • • a i'
MARVIN F POER C COMPANY PARCEL 10959242010,51 t
TABOR CENTER PIN :'�` 0036993 `'
I I ,
1200 17TH STREET SUITE 960 YEAR 409- h
DENVER CO 80202 LOG
06/01/1993
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 LAW•
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 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
62,801 621801
LAND
727, 378 727,378
IMPS
- - - TOTALS $ $ 790. 179 $ 7901179
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.
WARREN L. LASELL — _ 06/0 2/93
By: - - - - DATE 34
•WELD COUNTY ASSESSOR
FormPPRAR
-207.87/93 ADDITIONAL INFORMATION ON REVERSE SIDE S30747
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IRA 5356.55ila ammo' ni Equai:z tiara wil! Sit to ream mi e arch; c innr
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The County Board of Equalization must make a decision, on your appeal and mail you a determination within live
busumss Pa :he County Poer
Board 1 must conclude fl r : hearings by August 10.
s ^XP YE'S a MTS'FOR ElfpTFiER'AIPP . r rl�
CAI 3;' P - Y it) i , r ..
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rnl "- f,c tdWith thr'- Cn I �}
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- t BAA
of Assessment er 4y�y�,
it
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.t Sherman; Doom 315, Denver, Colorado t 'x¢r rsado ��C'2 ",r <) rjo-,`r- ,t ,,.
District Court:
"th chirp et, 3.0 Dix A
+: reelny, Colorado 80632
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'°' tall CCU Tty P,:�' ',ri )'`� i C' .'t - .k°. . . - s 915 10th Pone, P.O. Box 7x5$
asl ,, Colorado 80632
in ,:poo c (303) 3564000, Ex i54225
If you do not receive a determination irons the,County Equar zati„,30,S'u r
of Assessment Appeals by September 20.
TO PRESERVE YOUR APPEAL RIGHTS, YOU MUST PROVE HOD HAVE FILED A TIMELY APPEAL;
THEREFORE, WE RECOMMEND ALL CORRESPONDENCE RE MAILED WITH PROOF OF MAILING.
PETITION TO THE COUNTY BOARD OF EQUALIZATION
in the space ₹below, please explain why you disagree with the Assessor's valuation. IN ACCORDANCE WITH
r39•�.10641.57, G,R.S, !WU MUST STATE YOUR OPINION or VAL_DJE IN TERMS OF A `:PECIHG DChLL_AP
AMOUNT. Attach additional documents as necessary.
One or more of the approaches to value indicate that the value assigned to the
economic unit, of which this parcel is a part, is excessive. The petitioner's
opinion of total actual value is:
$ Stet D6I
Documentation will be furnished at hearing.
Pleasesehd n tice of hearing to: John F. Oberly
Marvin F. Poer & Company
1200 17th Street, Ste 960
Denver, CO 80202
chic ;•'` _ .._ __. 303/571-1.800 .... 7/14/93
93077
II?
411.1 CLERK TO THE BOARD
P.O. BOX 75
8
' GREELEY,COLORADO 80632
(303)356-4000 EXT.4225
4 P
COLORADO
(
July 22, 1993
Parcel No. : 095924201055 PIN No. : R 0036993
KENDALL MARK A & MARY F
1909 21 AVE CT
GREELEY, CO 80631
Dear Petitioner(s) :
The Weld County Board of Equalization has set a date of Tuesday, August
3, 1993, at or about the hour of 2:00 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 10, 1992, and mailed to you on or before
August 16, 1992.
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.
a
930747
KENDALL MARK A & MARY F - R 0036993
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,
BOA OF EQUALIZATION
Donald D. Warden,
Clerk to the Board
BY: 2�y?z"G�s
Linda M. Dodge, Deputy
cc: Warren Lasell, Assessor
MARVIN F POER & COMPANY, TABOR CENTER
930747
iEl(HIBIT
iit62:42.5-(2:14:-5
C _ B _ O _ E _ HEAR=NG
DATE: AUGUST 3, 1993
TIME: 2:00
ADDRESS: 3331 W 29TH ST GREELEY
OWNER: MARK & MARY KENDALL
PIN#: 0036993
9, r a r a _
,y
142
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930747
0959e.2.4 •2•0/ - OSS
s CRAIG FARR, SRA
son in REAL ESTATE APPRAISING
P.O. Box 5012
S • Greeley, Colorado 80631
APPRAISAL 303/330-9392
INSTITUTE
STATE OF COLORADO CERTIFIED
April 24 , 1992
Affiliated National Eanks
Greeley , CO 80631
Attention: Sam Leeper
Re : KENDALL PRINTING
Dear Mr . Leeper :
Pursuant to your request , I have appraised the proposed real
property known as KENDALL PRINTING in Gallery Green Subdivision on
29th Street in Greeley , Colorado .
This appraisal is an estimate of MARKET VALUE of the subject 's
unencumbered fee simple title as of this date .
MARKET VALUE upon completion is estimated to be $790,000
Marketing time is considered to be less than one year at the
appraised value .
I personally inspected the building site and plans and
specifications .
Part of the subject property sold for $19 ,700 in March 1991
( land only ) . Other parts sold four years ago .
This appraiser 's education , experience and state certification
support his competency to complete the assignment .
No personal property is included in the valuation estimate .
The following pages review the subject property and summarize
the methods , analysis of data and reasoning involved in my estimate
of market value .
This appraisal report is condensed . However , I do not believe
that it is so brief that it is misleading or not adequately
explanatory regarding the property description , market data used
for comparisons , and a final estimate of value based on analysis of
the market data and reconciliation of all relevant information .
9,a), 747
19
The Appraisal Institute Research Department currently reports
a June 1991 , survey of "desired returns" for Fourth Quarter 1991
investments in industrial space across the nation which tend to
have an average going-in cap rate of 9 . 25% .
CAPITALIZATION:
Based on the above analysis , the Cap Rate applicable to the
subject is established at 9 . 5% for this quality structure and prime
office space in good condition .
Dividing the subject ' s potential annual Net Income of $76 , 156
by 9 . 5% yields a Market Value indication of $801 , 642 , say S802 , 000 .
SUMMARY AND CONCLUSION
• A review of the value indications derived from the three
approaches employed is as follows :
COST APPROACH S787 , 000
MARKET COMPARISON APPROACH 5772 , 000
INCOME APPROACH $802 , 000
The Cost Approach is a test of reasonable value to an owner-
occupant . But this Approach doesn ' t reflect all of the impacts of
interest rates and rental rates and economic health and outlook
factored into transactions by buyers and sellers .
The Sale Comparison Approach measures market demand and
valuation of similar properties in which similar uses are possible .
The Approach is relatively broad and vague but consideration of
actual sales and listings results in a fairly reliable indication
of competitive valuation per square foot .
930747
20
The Income Approach is a reflection of valuation based on
absentee ownership which is purely interested in the income and
property appreciation , and is closely associated with available
lending rates and rental rates .
Considering all of the above , I estimate a present market
value of the subject to be $790 , 000 .
* * * * * * * * * *
910747
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