HomeMy WebLinkAbout971651.tiffRESOLUTION
RE: THE BOARD OF EQUALIZATION, 1997, WELD COUNTY, COLORADO - STIPULATE
VALUE
PETITION OF:
SNYDER RICHARD F & JERILYN A
813 MARSHALL ST
FT COLLINS, CO 80525
DESCRIPTION OF PROPERTY: PIN: R2827686 PARCEL: 096105336016 - GR 5240 L9-10
& W2 L11 BLK78 %1028 8 AVE%
WHEREAS, the Board of County Commissioners of Weld County, Colorado, convened 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 1997, 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 1997, claiming that the property described in such petition was assessed too
high, as more specifically stated in said petition, and
WHEREAS, in lieu of the hearing scheduled before the Board of Equalization, a Stipulation
was agreed upon by the Assessor and said petitioner(s), and
WHEREAS, the petitioner(s) and the Weld County Assessor agree that the assessment and
valuation of the Weld County Assessor shall be, and hereby is, stipulated as follows:
Land
Improvements OR
Personal Property
TOTAL ACTUAL VALUE
ACTUAL VALUE
AS DETERMINED
BY ASSESSOR
$ 83,125
ACTUAL VALUE
AS STIPULATED
$ 83,125
607.755 366.875
$ 690.880 $ 450.000
971651
AS0038
RE: BOE - SNYDER RICHARD F & JERILYN A
Page 2
WHEREAS, said Stipulation shall resolve all issues to have been determined by the Weld
County Board of Equalization.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, acting as the Board of Equalization, that the Stipulation agreed to by the Weld County
Assessor and the above -named petitioner(s) be, and hereby is, accepted by the Board.
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 5th day of August, A.D., 1997.
.47
VVEfl�? he Board
the Board
APPROVED AS TO FORM:
sant Co y Attorney
BOARD OF COUNTY COMMISSIONERS
WELUNTY, C,RADO
Baxter, Chair
Barbara J. Kirkm
W. H. Webster
em
erg.)/i_i/;%2)
971651
AS0038
1997
COUNTY BOARD OF EQUALIZATION
WELD COUNTY
ASSESSOR'S ACCOUNT NUMBER R 2827686
STIPULATION (As To Tax Year 1997 Actual Value)
RE PETITION OF
NAME:
ADDRESS:
,SNYDER RTCHARD F & JERILYN
813 MARWALL ST
FT COLLINS. CO 80529.
Petitioner(s), RICHARD F & JERILYN SNYDER and the Weld
County Assessor, hereby enter into this Stipulation regarding the
tax year 1997 valuation of the subject property, and jointly move
that the Board of Equalization to enter its order based on this
Stipulation.
Petitioner(s) and the Assessor agree and stipulate as follows:
1. The property subject to this Stipulation is described as:
L9-10 & W2 L 11 ELK 78 DEEDED TO CITY OF GREELEY AKA
1028 8 AV GREELEY
2. The subject property is classified as RETAIL STORE,
property (what type).
3. The County Assessor originally assigned the following
actual value to the subject property for tax year 1997:
Land
Improvements
Total
$ 83,325
$ 607,755
$ 690,880
4. After further review and negotiation, the petitioner(s)
and Weld County Assessor agree to the following tax year 1997
971651
actual value for the subject property.
Land
Improvements
Total
$ 83,725
$ 366,875
$ 450,000
5. The valuations, as established above, shall be binding
only with respect to tax year 1997 .
6. Brief narrative as to why the reduction was made: ADITU,STRQ
RASPY) ON DRFRRRRT) MATNTRNANCE OF APPROXTMATRT,Y S400,00 AT APPRATSAT,
DATR
7. Both parties agree that the hearing scheduled before the
Board of Equalization on TUESDAY AUGUST 5. 1997 (date) at
J-0:30A.M. (time) be vacated; or, a hearing has not yet
been scheduled before the Board of Equalization (check
if appropriate).
DATED this 4
or Attorn
orn
day of AUGUST 1927.
Petitioner(s) or Attorney
Address: Address:
Telephone: 9 70 343-,73,5-3-‘czei Telephone:
County Ass ssor
Address:
1400 North 17th Avenue
Greeley, CO 80631
Telephone:(303)353-3845 ext. 3656
NOTICE OF DENIAL
I5-DPT-AR
Form PR -207-87/94
vats%
WilDe.
COLORADO
GR 5240 L9-10 & W2 L11 BLK78
%1028 8 AVE%
OWNER: SNYDER RICHARD F & JERILYN A
SNYDER RICHARD F & JERILYN A
813 MARSHALL ST
FT COLLINS, CO 80525
06/30/1997
LOG 176
PARCEL 096105336016
ACCOUNT R2827686
YEAR 1997
OFFICE OF COUNTY ASSESSOR
1400 NORTH 17th AVE.
GREELEY, CO 80631
PHONE (970) 353-3845, EXT. 3650
The appraisal 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 SOLEY 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 determined the
valuation(s) assigned to your property. The reasons for this defemination of value are:
DUE TO THE VOLUME OF APPEALS YOUR NOTICE OF DETERMINATION HAS BEEN DELAYED AND
POSTMARKED LATER THAN JUNE 30TH. IF YOU WISH TO APPEAL YOUR VALUATION FURTHER
PLEASE FORWARD A COPY OF YOUR NOTICE SHOWING THIS MESSAGE ALONG WITH YOUR DESIRE
TO GO TO THE COUNTY BOARD OF EQUALIZATION. THIS WILL ALLOW YOU AN EXTENSION
THROUGH MIDNIGHT JULY 21ST.
WE HAVE REVIEWED YOUR PROPERTY VALUE AND IT IS CORRECT. STATE LAW REQUIRES THAT
1995 AND 1996 INFORMATION BE USED TO ESTABLISH 1997 VALUES.
PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE I
OF VALUE ACTUAL VALUE
PRIOR TO REVIEW
ACTUAL VALUE II
AFTER REVIEW
LAND
IMPS
6t52, CVO
Sea oi�
83125
607755
TOTALS S X64, e,
83125
607755
690880 C 690880
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(l)(a), C.R.S. Please see the back of this form for detailed information on filing your appeal.
By: WARREN L. LASELL
WELD COUNTY ASSESSOR DATE
ADDITIONAL INFORMATION ON REVERSE SIDE
06/30/1997
YOU HAVE THE RIGHT TO APPEAL THE ASSESSOR'S DECISION
The County Board of Equalization will sit to hear appeals beginning July 1 and continuing through August 5 for real
property (land and buildings) and personal property (furnishings, machinery, and equipment) 39-8-104 and 39-8-
107(2), C.R.S.
APPEAL PROCEDURES:
If you choose to appeal the Assessor's decision you must appeal to the County Board of Equalization. To preserve
your right to appeal, your appeal must be POSTMARKED OR DELIVERED ON OR BEFORE JULY 15 FOR
REAL PROPERTY, AND JULY 21 FOR PERSONAL PROPERTY.
WELD COUNTY BOARD OF EQUALIZATION
915 10th Street, P.O. Box 758
Greeley, Colorado 80632
Telephone (970)356-4000 Ext. 4225
NOTIFICATION OF HEARING:
You will be notified of the time and place set for the hearing of your appeal.
COUNTY BOARD 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 5.
TAXPAYER RIGHTS FOR FURTHER APPEALS:
If you are not satisfied with the County Board of Equalization's decision you must file within thirty days of the
County Board of Equalization's written decision with ONE of the following:
Board of Assessment Appeals (BAA):
Contact the BAA at 1313 Sherman, Room 315, Denver, Colorado 80203, (303)866-5880.
District Court:
9th Avenue and 9th Street, P.O. Box C
Greeley, Colorado 80632
Telephone (970) 356-4000, Ext. 4520
Arbitration:
WELD COUNTY BOARD OF EQUALIZATION
915 10th Street, P.O. Box 758
Greeley, Colorado 80632
Telephone (970) 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 11.
TO PRESERVE YOUR APPEAL RIGHTS, YOU MUST PROVE YOU HAVE FILED A TIMELY
APPEAL; THEREFORE, WE RECOMMEND ALL CORRESPONDENCE BE 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 39-
8-106(1.5), C.R.S., YOU MUST STATE YOUR OPINION OF VALUE IN TERMS OF A SPECIFIC DOLLAR
AMOUNT. Attach additional documents as necessary.
( £ S + * l e Lti i4 S= pour C' IZCt S cc/ / 2 a„,,,, 0? `l to
Or7 c e (2)/92. S e≤0, O o tYl iP rk e f' (Ywmot / C
ccs'e . S/'v7- fire.t 514 Acs In
uc e S≤CY 5FtG.C'
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0„2-76.g(2,
C.B.O.E. HEARING
DATE: JULY 18, 1997
TIME: 8:30 A.M.
OWNER OF RECORD: RICHARD F SNYDER
ADDRESS: 1024 8 AVENUE
GREELEY CO 80631
PIN #: R2827686
PARCEL #: 0961-05-3-36-016
APPRAISAL DATE AS OF: JUNE 30, 1996
SUMMARY OF SALIENT FACTS AND CONCLUSIONS
Purpose of the Appraisal: Estimate market value on June 30,1996
Property Rights Appraised: Unencumbered fee simple interest
Property Address: 1024 8 Avenue, Greeley, Colorado'
Improvement: Retail Store
Land Size: 23,750 square feet
Zoning: C-4 Service Business
Assessor's Value: 1997
Land Value: $ 83,125
Imps Value: 607,755
Total Value: $ 690,880
Highest and Best Use: Present use as Retail Sstore
Size of Improvements: 1 floor
2 floor
Total
Year of Construction: 1900
Effective Age: 30 years
Remaining Economic Life: 15 years
Estimated Land Value: $83,125
Estimate of Values:
Cost Approach:
Land Value:
Improvement Value:
Total Value Rounded:
23,750 square feet
10,804 square feet
34,554 square feet
$ 83,125
732,061
$815,000
Sales Comparison Approach: $691,100
Income Approach:
$ 701,100
Final Estimate of Value: $690,880
Date of Value: June 30, 1996
Parcel Number .
Property Owner .
Address
City, State, ZIP:
Surveyed by
Date of Survey .
096105336016
RICHARD F SNYDER
1024 8 AVENUE
GREELEY, CO, 80631
DWS
07/15/97
Occupancy: Retail Store
Floor Area: 34,554 square feet
Class: Masonry
Cost rank: Average
Cost as of: 4/96
Heating and Cooling:
Space Heater
Other features:
Number of stories: 2.0
Average story height: 14.0 feet
Effective age: 30 years
Units
1001
Cost
Total
Basic structure cost
34,554
38.52 1,331,02'0
Less Depreciation:
Physical and Functional
Depreciated Cost
<45.01>
<598,959>
732,061
Miscellaneous:
Land
Total
83,125
815,186
Rounded to nearest $1,000 815,000
Cost data by MARSHALL and SWIFT
PIN: 2827686 COMPARATIVE SALES APPROACH
NAME: GRLY FURNITURE
COMP SALE NUMBER SUBJECT
ADDRESS 1028 8 AV
GREELEY
USE RETAIL
SALE DATE
SALE PRICE
ADJ. SALE PRICE
LAND VALUE
BLDG. VALUE
SIZE SF
BLDG PRICE/SQ. FT.
YEAR BUILT
EFFECTIVE YEAR
83,125
607,755
34,554
1900
1970
1 2 3 4
1605 8 AV 1320 8 AV 825 9 ST 1706 9 ST
GREELEY GREELEY GREELEY GREELEY
RETAIL RETAIL RETAIL RETAIL
03/01/96 01/29/96 05/15/95 12/01/94
320,575 185,000 400,000 240,000
275,000 290,000 400,000 240,000
67,200 77,550 57,500 53,616
207,800 212,450 342,500 186,384
10,225 14,843 14,375 6,830
20.32 14.31 23.83 27.29
1946 1952 1957 1955
1968 1960 1960 1980
ADJUSTMENTS:
BLDG.SIZE@20.00
BUILDING AGE
486580 394220 403580 554480
2900 12000 37675 -30000
BSMT
-28750
NET ADJ TO ADJ SALE PRICE
ADD BLDG VALUE
NET ADJ TO SALE PRICE
ADD SUBJECT LAND
489480 406220 412505 524480
207800 212450 342500 186384
697280 .618670 755005 710864
83125 83125 83125 83125
INDICATED VALUE
INDICATED VALUE PSF
INDICATED MARKET VALUE
34554 X $20.00= 691080
780405 701795 838130 793989
22.59 20.31 24.26 22.98
COMPARABLE SALE
417
96108303016
RETAIL
PIN: 3282786 PARCEL #:
PRIMARY OCCUPANCY:
OFFICE SPACE % :
2nd OCCUPANCY:
ADDRESS: 1605 8 AV
PROJECT:
SALE DATE: 03/01/96
SALE PRICE: $320,575
ADJ SALE PRICE:
GRANTOR: CHADWICK HAROLD A
GRANTEE: SCHU-3 LLC
YEAR BLT: 1946
EFFECTIVE AGE: 1968
BLDG SIZE:
CLASS:
CONSTRUCTION-QUAL:
WALL HEIGHT:
STORIES:
BSMT SIZE:
LAND SIZE:
LAND VALUE:
REMARKS
10,225
C
AVG
16
1
22,400
89,600
GREELEY
BOOK*:
RECEPTION #:
1535
2478919
LAND/BLDG RATIO: 2.19
IMPS PRICE/PSF $22.59
SALE PRICE/PSF: $31.35
CASH DOWN: $320,575
LOAN:
INTEREST RATE:
LOAN TERM (YRS):
POINTS PAID:
LEASE GROSS $72,660 OR 7.11 NET $44867 OR 4.39
OAR 14.0%. BLDG IS AVG CONDITION HVAC IS PACKAGE
AIR. BUYER SPENT $4,000 AFTER SALE TO REPAIR
ROOF. PREVIOUS SALE 5/4/82 295,000
COMPARABLE SALE
337
PIN: 3250786 PARCEL #: 96108214013
PRIMARY OCCUPANCY: RETAIL
OFFICE SPACE % :
2nd OCCUPANCY:
ADDRESS:
PROJECT:
SALE DATE:
SALE PRICE:
ADJ SALE PRICE:
GRANTOR:
GRANTEE:
YEAR BLT:
EFFECTIVE AGE:
BLDG SIZE:
CLASS:
CONSTRUCTION-QUAL:
WALL HEIGHT:
STORIES:
BSMT SIZE:
LAND SIZE:
LAND VALUE:
REMARKS:
1320 8 AVENUE
01/29/96
$185,000
GREELEY
BOOK #:
RECEPTION #:
CHLANDA, JOHN G.
STRODTMAN, MARK AND JUHL, DEAN
1952 LAND/BLDG RATIO
1980 IMPS PRICE/PS
14,843 SALE PRICE/PS
C CASH DOWN:
AVG
18
1
25,850
$77,550
LOAN:
INTEREST RATE:
LOAN TERM (YRS
POINTS PAID:
SALE CONSIDERED BELOW MARKET. HVAC IS SPACE
HEAT W/AIR CONDITIONING. REAR 55 X 40 = 2,200 SF;
HAS 14 FT WALL. TENANT HAS LEASE/OPTION FOR
$200,000. ROOF NEEDS REPAIRS OF $7,000. OWNER
CARRY FINANCING. GROSS $24,000 OR $1.62 PSF; NET
$13,800 OR $.93 PSF--7.5%.
1529
2473721
1.74
$7.24
$12.46
$25,000
NEW
8.0%
5
COMPARABLE SALE
239
PIN: 2813586
PARCEL #: 96105322002
ADDRESS:
PROJECT:
SALE DATE:
SALE PRICE:
ADJ SALE PRICE:
GRANTOR:
GRANTEE:
YEAR BLT:
BLDG SIZE:
CLASS:
CONSTRUCTION-QUAL:
WALL HEIGHT:
STORIES:
BSMT SIZE:
LAND SIZE:
LAND VALUE:
REMARKS:
OCCUPANCY: RETAIL
825 9 ST GREELEY
0
05/15/95
$400,000
BOOK #:
1492
RECEPTION #: 2438631
GILBERT ROBERT
RIO TRIO PARTNERSHIP
1957 LAND/BLDG RATIO:
14,375 IMPS PRICE/PSF:
C SALE PRICE/PSF:
AVG CASH DOWN:
16 LOAN:
1 INTEREST RATE:
LOAN TERM (YRS):
POINTS PAID:
14375
14,375
57,500
1.00
$23.83
$27.83
$50,000
NEW
9.0%
10
0
BUYERS CONVERTING BLDG INTO RESTAURANT.
BLDG HAS UNIT HEAT, EVAP COOLING, FINISHED
BSMT, AVG CONDITION. SELLER CARRY $350,000,
9%, 10 YRS.
COMPARABLE SALE
167
PIN: 2974186 PARCEL #:
96106328022
OCCUPANCY:
ADDRESS: 1706 9 ST
PROJECT:
SALE DATE: 12/01/94
SALE PRICE: $240,000
ADJ SALE PRICE:
GRANTOR:
GRANTEE:
YEAR BLT: 1955
BLDG SIZE: 6,830
CLASS: C
CONSTRUCTION-QUAL: LOW
WALL HEIGHT: 14
STORIES:
BSMT SIZE:
LAND SIZE: 30,482
LAND VALUE: 53,616
1
0
0
RETAIL
GREELEY
BOOK #:
RECEPTION #:
DALE & DIANNA BOEHNER
FRANK H & SANDRA L BENGFORD
LAND/BLDG RATIO:
IMPS PRICE/PSF:
SALE PRICE/PSF:
CASH DOWN:
LOAN:
INTEREST RATE:
LOAN TERM (YRS):
POINTS PAID:
1470
2417683
4.46
$27.29
$35.14
$70,000
NEW
TYPICAL
TYPICAL
REMARKS: WOL'S,#2974186 RETAIL; 14' WH; 5750 SF; BLT 1955
#2973486 RETAIL; 14' WH 1080 SF; BLT 1955
#2974286 VACANT LOT
0
07/16/97
PROFORMA INCOME WORKSHEET
Parcel : 0961-05-3-36-016
Name: Richard F Snyder
Prop Address: 1024 8 Av Greeley, Co
Bldg sq ft Use No of Units
34554 retail 1
Tax rate mill rate assm't rate
0.10811 0.29
Fractional rent
Avg rent psf
Effective
tax rate
0.0314
Annual
units rent/month size/bay rent psf
Subject rents Annual Annual gross
rent psf Income
rate psf 34554 3.25 112301
Less expense
vacancy 10% 11,230
expenses 8% 8,984
Net income 2.67 92,086
Net Income/overall cap rate=Property value Property Value
value per sq ft
Cap rate + eff tax rate 0.10 0.0314 0.131 701,066 20.29
Owner expense: management, legal & accounting
Gross Net
Comparable Bldg Year income income
rentals Use Address size const'd per sq ft per sq ft
Lincare retail 1605 8 av 10,225 1946 $5.96 $4.01
Goodwill ind retail 1010 11 st 7,804 1964 $4.00 $3.00
Garrettson's retail 804 8 av 8,625 1924 $4.17 $3.13
Jim Baker retail 1135 8 av 2,100 1958 $4.95 $3.47
page 1
fitt
COLORADO
July 14, 1997
Mr. Richard F. Snyder
813 Marshall Street
Ft. Collins, CO 80525
Dear Mr. Snyder:
OFFICE OF WELD COUNTY ASSESSOR
PHONE (303) 3533845, EXT. 3656
WELD COUNTY ADMINISTRATIVE OFFICES
1400 N. 17TH AVENUE
GREELEY, COLORADO 80631
This letter is to confirm our phone conversation of July 14, 1997. I am requesting a copy of the
appraisal done on the property at 1024 8 Avenue, Greeley, Colorado a.k.a. Greeley Furniture for
the bank. This appraisal was done by Russell Beers during the month of February or March
1996.
Please send or bring into our office this information to Weld County Assessor, 1400 N. 17
Avenue, Greeley, Colorado 80631 Attn. David Schildmeier.
Sincerely,
David Schildmeier
DWS/mah
46tit
lURe
COLORADO
July 11, 1997
SNYDER RICHARD F & JERILYN A
813 MARSHALL ST
FT COLLINS, CO 80525
Dear Petitioner(s):
CLERK TO THE BOARD
PHONE (970) 356-4000 EXT.4218
FAX: (970) 352-0242
915 10TH STREET
P.O. BOX 758
GREELEY, COLORADO 80632
Parcel No.: 096105336016 PIN No.: R2827686
The Weld County Board of Equalization has set a date of Friday, July 18, 1997, 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. A number of hearings have been scheduled at this time; peitioners will be asked to sign in
with the Clerk upon arrival, and cases will be heard on a first come / first heard basis.
You have a right to attend this hearing and present evidence to the Board in support of your
petition. The Weld County Assessor or his representative will be present. The Board will make its
decision on the basis of the record made at said 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, 1997,
and mailed to you on or before August 10, 1997.
Because of the volume of cases before the Board of Equalization, all cases shall be limited to 15
minutes, of which you will be allowed 10 minutes for your presentation. 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.
SNYDER RICHARD F & JERILYN A - R2827686
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 EQ ALI TION
Donald D. Warden,
Clerk to the Board �/
BY: (!�i// �` d,/��+(
Carol A. Harding
Deputy Clerk to the Board
cc: Warren Lasell, Assessor
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