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Home My WebLink About901447.tiff- .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. RESOLUTION RE: THE BOARD OF EQUALIZATION, 1990, WELD COUNTY, COLORADO PETITION OF: PIZZA HUT % JIM WINTERS P O BOX 789950 WICHITA, KS 67278 DESCRIPTION OF PROPERTY: PIN: P 0004369 PARCEL: 095901424002 - 2439 10 ST GREEL GR 5952-A BLK 2 HOUSTON HTS 1ST (2439 10 ST) WHEREAS, the Board of County Commissioners of Weld County, Colorado, organized as a Board of Equalization for the purpose of adjusting, equalizing, raising or lowering the assessment and valuation of real and personal property within this County, fixed and made by the County Assessor for the year 1990, and WHEREAS, said petition has been heard before the County Assessor and due notice of adjustment thereon has been given to the taxpayer(s) , and WHEREAS, the taxpayer(s) presented a petition of appeal to the County Assessor's valuation for the year 1990, claiming grounds for relief thereunder stating the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS, said petitioner being represented by Dougherty & Scavo, who submitted a letter regarding said 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 its 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. 901447 Page 2 RE: BOE - PIZZA HUT 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. (39-8-108 (1) , 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. (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. (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 Page 3 RE: BOE - PIZZA HUT 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 30th day of J y, A.Dn,�� ATTEST: /J/� BOARD OF COUNTY COMMISSIONERS ��/111�� WELD UNTY, COLORADO Weld County Clerk t the Board rrdd�4 CBY.� Gene R. Brantner�i puty Clerk t the Board G gdy, Pro-Tear ApPRovn AS TO FORM: I' t�l�/ e" -e ons ance L. Harbert ��--r Zyz //�l� ' 54-476-6-€ ounty Attorney L-C. W. K rb �- Gord . OFFICE Oh COLNIN ASShSSO,c 915 10th STREET GREELEY,COLORADO 80631 NOTICE OF ADJUSTMENT PHONE(303)356-4000, EXT.4256 IIIIII4c. GR 5952_A BLK 2 HOUSTON FITS 1ST 1,2439 10 ST) COLORADO 2439 10 ST GREELEY OWNER PIZZA HUT DOUGHERTY 6 SCAVO PARCEL 095901424002 PROPERTY TAX CONSULTANTS PIN P 0004309 ; 220 E MULBERRY ST YEAR 1990 ,,,1 FT COLLINS CO 80524 LOG 00101 0 � f 07/05/1990 frIt .. r.;1 er. The appraised value of property is based on the appropriate consideration of the approaches to value required by law.The Ass'psor has ilgferrrtined'. that your property should be included in the following category(ies): 0.✓ Residential property is valued by considering the cost and market approaches. Agricultural land value is determined solely by the earning or production 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 fora 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: YOUR PERSONAL PROPERTY ACCOUNT HAS BEEN ADJUSTED FUR 1990• PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE ACTUAL VALUE ACTUAL VALUE OF VALUE PRIOR TO REVIEW AFTER REVIEW PERSONAL PROPERTY 901807 851649 TOTALS $ $ 90s 4307 $ 85s o49 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. RICHARD W. KEIRNES n7/ny/90 BY — DATE 26�� WELD COUNTY ASSESSOR Form P -2 ADDITIONAL INFORMATION ON REVERSE SIDE Form PR-207 8]/90 - -OD i 41� £ 1#.':: ArGH—T...1_o APPEAL THE �ASScESSC1R'S DECISION .r eg, nascgDaly 1 nes cola nuDytht asap August 10 for real property a, ,_4, n, p' m c=t :star ,ass lnes, +,tac+lar�a��, ur:d ciusementl 39,8 104 and 3'9-8-107121, C.R.S. C '41.111 : sass 111O Idase4 ,. to TO se a ., Do a la in `o C:ourcy Board of , ;Do 4681 la 05. , psi 0 ITC LINE nIERED (dO OR BEFORE s,r. one uoh,,, fa, s sue p n81 K t., i11^ (Dhoti Boo,T7 of t,. siia {,,a E 0404 0 16; Of.N4 . .. , r `6 8000 6,0. `₹. .. . . . ''t'f6::I& Ti1,i4x}._ . ,s, a.,),..86,0 isc46-4 tofo ., • atn-61 s ti c F's`t` afe, snusf volinn °harm days of the. C ou tY 11,4 ,t vt° ys5ossmentt Appeals 0B,A,'s; s Ihshl --11;014, Is 02614 303; 360 5880 f a stfa ,t Ax£310 C . . a.arc pPy. .,,,,so,y ca..6 e7Ud,te'. s ' PPP i;Y(3' fhb 4014) asp %"`.'`ti _. ... . :tat ..1 . th 0881 eSCi-`000 a x£, rr �tIva a .;s. a. ,tr=e .. -0.°4441 VOTE DITIE1" SHOVE 141,84 INDA'&: aWED A t"4MEt_Y APPEAL, 1414 406114 -114011. _ ,,. :.:3 i TO PROOF; OF StESIL. INN. >t ',. . 1..tD TI-111 t ,1 t,7 tt £§O£iDD OF TOITALIZi f ION :1E H;t nee 54 nb r ,.i sod': ic: .,It...J;, _ ,=1l(U; IPPTS as necessary. \ 3\42)0 _ 111 DOUGHERTY & SCAVO ,- PROPERTY TAX CONSULTANTS 1,- 220 E. MULBERRY ST. �" r.', r, FT. COLLINS, COLORADO 80524 C! ': THOMAS N. DOUGHERTY PHONE: (303) 493-4980 TV I�' ' ` ^r,_,,' FAX: (303) 482-0860 �` o.�jS A. SCAVO "Iu, July 18, 1990 Mr. Richard W. Keirnes Weld County Assessor 915 10th Street Greeley, CO 80631 Re: James E. Winter DBA Winter Enterprises 2439 10th Street, Greeley 0959-01-4-24-002 Dear Mr. Keirnes: Please regard this letter as formal protest of the current valuation of the above referenced property. Enclosed is authorization for Dougherty & Scavo to represent the above referenced property owner in this matter. Additionally please find documentation enclosed to support an actual value for this property of $151,300 . Thank you for your consideration. Sincerely -ThJ ` Tom Do y DOUGHERTY & SCAVO TD:bh Encls. DOUGHERTY & SCAVO 90-026 DOUGHERTY & SCAVO 90-026 PARCEL NUMBER: 0959-01-4-24-002 CITY: Greeley ADDRESS: 2439 10th Street USE: Commercial Land/Restaurant-Fast Food CONSTRUCTION TYPE: Frame NUMBER OF STORIES: 1 BUILDING SIZE: 1,800 SF LOT SIZE: 21,632 SF CONDITION: Good COMMENTS: This is a typical Pizza Hut type facility with normal construction and design for a pizza restaurant. The condition is good. It is important to separate "Pizza Hut" goodwill value from the real estate value. We will do that by looking at "market" rent rates for the income approach to value and the cost approach to value. DOUGHERTY & SCAVO 90-026 INCOME APPROACH TO MARKET VALUE Gross Income Potential: 1,800 SF @ $13.00/SF $23,400 Less: Vacancy & Credit Loss ( 10%) (2,340) Less: Operating Expenses (25%) ( 5,850) Net Operating Income: $15,210 CAPITALIZATION RATE = 13% Income Value - $117,000 Adjacent back lot land 16,232 @$2 . 00/SF 32,464 INCOME VALUE _ $149,464 Fast foods generating $13 . 00/SF in the Greeley area - McDonalds Parcel Number : 0959-01-4-24-002 Property Owner : WINTER Address : 2439 10TH STREET City, State, ZIP: GREELEY, CO 80631 Surveyed by : TD Date of Survey : 6/90 Occupancy: Fast Food Restaurant Floor Area: 1,800 square feet Number of stories: 1.0 Class: Frame Average story height: 10. 0 feet Cost rank: Average Effective age: 15 years Cost as of: 6/88 Heating and Cooling: Package Unit 1008 Other features: Units Cost Total Basic structure cost 1,800 56 .63 101,934 Extras: DRIVE UP WINDOW 32 18 . 00 576 WALK IN COOLER 9,300 Subtotal 9, 876 Replacement Cost New 111,810 Less Depreciation: Physical and Functional <26 . 08> <29,070> Depreciated Cost 82,739 Miscellaneous: CONCRETE PAVING 1,077 1.50 1,615 ASPHALT 15,684 0 . 78 12,233 LAND 5,400 5 . 00 27,000 LAND BACKLOT 16,232 2 . 00 32,464 Subtotal 73,312 Total 156, 051 Assessed Value 29% 45,254 Cost data by MARSHALL and SWIFT DOUGHERTY & SCAVO 90-026 CONCLUSION INCOME APPROACH TO VALUE _ $149,464 MARKET APPROACH TO VALUE = N/A COST APPROACH TO VALUE _ $156,051 VALUE REQUESTED = $151,300 AUTHORIZATION I hereby authorize Dougherty-Scavo to investigate, if deemed appropriate, seek: adjustments in assessed valuation and receive copies of notice of valuation for the following real \,properties; 46 csn� YtrJo...-k Owner Name: James E. Winter Address: P.O. Box 789950 City, State: Wichita, KS Zip; 67278 Phone: 316-687-6385 Parcel No. Address (legal ) 97131-29-004 (Real /Pers. ) Riverside Shopping Center, Ft.Collins 9761-27-004 (Real /Pers. ) 2.631 S. College Ave. , Ft. Collins 87191-09-002 (Pers. ) 2850 McClelland Dr, Ft. Collins 97251-19--001 (Pers. ) 2601 S. Lemay #3, Ft. Collins 97214-22-001 (Pers. ) 2170 W. Drake #B2, Ft. Collins 95142-15-002 (Real/Pers. ) 832 W. Eisenhower, Loveland 95013-10-004 (Pers. ) 249-E E. 29th St. , Loveland 35253-08-008 (Real/Pers. ) 430 Prospect Dr. , Estes Park 095901424002 (Real /Pers. ) 2439 W. 10th St. , Greeley 147105214007 (Real/Pers. ) 450 Denver Ave. , Ft. Lupton 096117311013 (Real /Pers. ) 2525 Eighth Ave. , Greeley 080717,302001 (Real/Pers. ) 1000 12th St. , Windsor 080717302002 (Real ) 1000 12th St. , Windsor 080717302003 (Real ) 1000 12th St. , Windsor Dougherty-Scavo shall be our exclusive agent for a period of 1 year in matters relating to ad valorem taxation of the above listed real properties. Owner's Signature Date Flailing Andress of Notice of Assessed Valuation: Dougherty-Scavo 220 E. Mulberry Street Fort Collins, CO 80524 Hello