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Home My WebLink About961298.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 1996, WELD COUNTY, COLORADO PETITION OF: STENER & FRANCES E. CARLSON C/O BRIDGE & ASSOCIATES 216 SIXTEENTH STREET MALL, SUITE 950 DENVER, CO 80202-5123 DESCRIPTION OF PROPERTY: PIN: R0080888 PARCEL: 131303000041 - 3815 HIGHWAY 119, LONGMONT, COLORADO - LCI-1 L1 LONGMONT CENTENNIAL INN SUB %3815 HWY 119% 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 1996, 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 1996, 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: ORIGINAL ADJUSTED Land $ 401,080 $ 401,080 Improvements OR Personal Property 1.019.000 835.690 TOTAL ACTUAL VALUE $ 1.420.080 $ 1.236.770 961298 AS0034 1S, Caf oon BOE - CARLSON 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 24th day of July, A.D., 1996. BOARD OF COUNTY COMMISSIONERS 7fiE L4)�, /Ma-at WELD COUNTY, COLD DO a oy >♦ Barb J. Kirkmeye , Chair 1861 0 Pct ty Clerk to the Board // . , C; viubi so 1j ' orge E. Baxter, Pro- e - Deputy Cler o the Board Og- Dale K. Hall APPROVED AS TO FORM: FXCI ISFn nATF nF SIaNINc; (AYF} Constance L. Harbert Cou Attor /1\i/ � / C (/� 79:---7 (l W. li. Webster 961298 AS0034 1996 COUNTY BOARD OF EQUALIZATION WELD COUNTY ASSESSOR' S PIN NUMBER 0080888 STIPULATION (As To Tax Year 1996 Actual Value) RE PETITION OF NAME : BRIDGE & ASSOCIATES ADDRESS : 216 16th ST MALL #950 DENVER , CO 80202 Petitioner (s) , BRIDGE & ASSOCIATES and the Weld County Assessor, hereby enter into this Stipulation regarding the tax year 1996 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 : BUDGET HOST INN 3815 HWY 119 , LONGMONT 2 . The subject property is classified as MOTEL & RESTAURANT property (what type) . 3 . The County Assessor originally assigned the following actual value to the subject property for tax year 1996 : Land 5 401 . 080 Improvements 51 , 019 , 000 Total 51 . 420 , 080 4 . After further review and negotiation, the petitioner (s) and Weld County Assessor agree to the following tax year 1996 actual value for the subject property. Land $ 401, 080 Improvements S 835 , 690 Total $1, 236, 770 5 . The valuations, as established above, shall be binding only with respect to tax year 1996 . 6 . Brief narrative as to why the reduction was made : ANALYSIS OF ACTUAL INCOME CAPITALIZED TO A VALUE. 7 . Both parties agree that the hearing scheduled before the Board of Equalization on WED. JULY 24 , 1996 (date) at 10 : 00 A.M. (time) be vacated; or, a hearing has not yet been scheduled before the Board of Equalization (check if appropriate) . DD this NT) day of JULY , 1996 . X Petitioner (s) or Attorney Petitioner (s) or Attorney Address : Address : BRIDGE & ASSOCIATES 216 16TH ST MALL #950 DENVER . CO 80202 Telephone : (303) 573-7000 Telephone : Fax: (303 ) 573-7050 IMO/L[4J --2 ,t4&fa) County Assessor Xtelt,c4Cla+� Address : 1400 North 17th Avenue Greeley, CO 80631 Telephone : (970) 353-3845 ext . 3650 0 -; OFFICE OF WELD COUNTY ASSESSOR PHONE (303)3533845, EXT. 3656_ . WELD COUNTY ADMINISTRATIVE OFFICES 1 e : , _c, _-_-- iiir� 1400 N. 17TH AVENUE GREELEY, COLORADO 80631 COLORADO April 22 , 1996 Bridge & Associates 216 16th St . Mall #950 Denver, CO 80202 RE : Stipulation for account #R0080888 Budget Host Inn, 3815 Hwy. 119, Longmont Dear Mr. Dan George : Enclosed is the original copy of the stipulation form which was faxed to you on Monday, July 22nd. The County Attorney requires the original to be signed and returned. Please find the enclosed envelope for your convenience . Your earliest attention would be appreciated. Sincerely, ?freeinta- 4-94.4 Roland Froi d Commercial Appraiser OFFICE OF COUNTY ASSESSOR 1400 NORTH 17th AVE. NOTICE OF DENIAL - (] (�,'.� _ �. GREELEY,CO 80631 PHONE(970)353-3845,EXTXT LCI-1 L1 LONGMONT CENTENNIAL INN .7655 0 VVV SUB %3815 HWY 119% ill k. COLORADO OWNER: CARLSON STENER & FRANCES E `o BRIDGE & ASSOCIATES LOG 274 216 16 ST MALL 4950 PARCEL 131303000041 ACCOUNT R0080888 DENVER, CO 80202 YEAR 1996 06/24/1996 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: J THE APPEAL OF YOUR VALUATION HAS BEEN DENIED BECAUSE OF A LACK OF EVIDENCE OF AGENT CCTNRRTSUYOU MAY CONTINUE HE A AUTHORIZA THE PERSON ENTING PPFAT AORDING TO THE INSTRUCTIONS THAT APPEAR ON THE REVERSE SIDE OF THIS NOTICE. UL 1 i95 BRID(st & itOJul nit C} PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE OF VALUE ACTUAL VALUE ACTUAL VALUE PRIOR TO REVIEW AFTER REVIEW LAND 401080 401080 IMPS 1019000 1019000 TOTALS $ $ $ 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 06/20/1996 WELD COUNTY ASSESSOR DATE 15-DPT-AR Form PR-207-87/94 ADDITIONAL INFORMATION ON REVERSE SIDE /1 n (Sitftri se n 10 HAN:4„ -. , <! d.'_ 10 AP1'EA 11iE 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 20 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 EQUALIZATIONS 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 APP AL 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 18. 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 En 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. 7/66 cc;'c, % 97( SIGNAIU PLIMCFNER. UAl JUN-10-96 TUC 01 : 16 PM STENCP & COMPANY 970 663 6039 P. 01 • BUDGET HOST AVERAGE RENT PER ROOM AVERAGE OCCUPANCY LONGMONT 1983 1994 Jen-93 $32.72 28.00% Jan-04 $30.62 35% Feb-93 $29.62 21.00% Feb-94 $29.24 42% Mar-93 531.20 33.00% Mar-04 $31.34 37% Apr-93 $34.39 27.00% Apr-94 $30.98 38% May-93 $37.04 42.00% May-94 $31.31 57% Jun-93 538.33 70.00% Jun-84 $43.85 87% Jul-93 $42.11 90.00% Jul-94 $90.73 93% Aug-93 $44.15 75.00% Aug-94 $90.02 82% Sep-93 534.84 00,00% Sep-94 $41.17 88% Od-93 $33.75 48.00% Oct-94 $33.41 51% Nov-93 $32.87 34.00% Nov-94 $32.23 50% Dec-93 331.27 25.00% Deo-94 $32.82 29% ROOM INCOME $418;888 $489,682 AVERAGE INCOME PER ROOM $35.15 $38.41 AVERAGE OCCUPANCY 48.92% 58.42% BRIDGE ASSOCIATES INCOME APPROACH BUDGET HOST OF LONGMONT 1993 1994 INCOME ROOM RENTAL $416,688.40 $469,682.39 RESTAURANT $13,490.43 $25,999.64 LONG DISTANCE PHONE $11,513.66 $3,979.54 MEETING ROOM $3,330.00 $4,053.00 INTEREST $1,318.00 $2,266.48 OTHER INCOME $3,575.90 $14,383.64 TOTAL INCOME $449,916.39 $520,364.69 EXPENCES PAYROLL $91,387.63 $110,240.86 CONTRACT LABOR $0.00 $1,034.71 SUPER VIDEO COMM $907.84 $748.44 ADVERTISING $11,457.66 $20,137.10 BANK CHARGES $168.44 $44.00 COMM TRAVEL AGENCIES $101.70 $641.10 CREDIT CARD DISCOUNTS $5,306.05 $5,346.49 DUES&PUBLICATIONS $990.25 $1,045.50 LEGAL&ACCOUNTING $3,882.26 $2,710.87 FRANCHISE PEES $2,616.00 $3,747.50 INSURANCE $10,579.53 $15354.53 INTEREST LEASE FURN/FIX/EQUIP $14,119.55 $11,596.88 LEASE SIGNS $11,566.60 $2,502.78 LICENSES/PERMITS $338.00 $638.21 MAINTENANCE/REPAIRS $45,055.11 $37,074.21 PEST CONTROL $690.00 $564.00 POSTAGE $0.00 $0.00 PENALTIIES $241.79 $0.00 SUPPLIES POOL $431.28 $1,197.98 SUPPLIES LINEN $0.00 $68.74 SUPPLIES OFFICE $362.34 $985.79 SUPPLIES MAINTENANCE $468.60 $16,393.20 TAXES PAYROLL $7,328.26 $12,968.80 TAXES PERS PROPERTY TAXES REAL PROPERTY TRAVEL $790.00 $0.00 UNCOLLECTABLES $102.00 $1,475.82 UTILITIES $63,334.44 $63,794.96 CASH OVER/SHORT $0.70 ($31.85) MICS.EXPENSE $2,562.80 $6,572.11 AMORTIZATION $478.32 $478.32 DEPRECIATION TELEPHONE $9,364.65 $12,979.26 ROOM SUPPLIES $14,768.75 $10,532.33 REFUNDS DISCOUNTS $790.00 $923.00 SUPPLIES LAUNDRY $587.73 $567.98 DONATIONS $0.00 $50.00 LEFT HAND WATER PAYMENT $16,062.30 $12,048.30 ENTERTAINMENT,SPEAKERS $0.00 $0.00 CLEANING SUPPLIES $0.00 $1,210.79 TOTAL EXPENCES $316,840.58 $355,642.71 NET PROFIT $133,075.81 $164,721.98 CAP RATE 14% $950,542 $1,176,586 at-0 CLERK TO THE BOARD rice PHONE (970) 356-4000 EXTA242 FAX: (3(303) 352-0242 915 10TH STREET WI I P.O. BOX 758 C GREELEY, COLORADO 80632 COLORADO July 16, 1996 Parcel No.: 131303000041 PIN No.: R0080888 Owner: Carlson, Stener & Frances E. Bridge &Associates 216 16th Street Mall, Suite 950 Denver, CO 80202 Dear Petitioner(s): The Weld County Board of Equalization has set a date of Wednesday, July 24, 1996, at or about the hour of 10:00 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 its 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, 1996, and mailed to you on or before August 10, 1996. 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. 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. Bridge & Associates - R0080888 Page 2 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 EQUALIZATION Donald D. Warden, Clerk to the Board BY: Carol A. Harding, Deputy cc: Warren Lasell, Assessor Property Tax r' r., ' 5 "' 9: 02 BRIDGE ■ service;, z & ASSOCIATES 216 Sixteenth Street Mall ■ Suite 950 ■ Denver,Colorado 80_0_ 5123 (303)573-7000 IN FAX: (303)573-7050 ■ (800)842-2335 TO TIE Thursday, July 11, 1996 L J Weld County Board of Equalization 915 10th Street Greeley, CO 80632 Dear: Dear Sir or Madam: Please find the petition to the Board of Equalization for the following property: Address Schedule Number 3815 State Hwy 119 R0080888 1122 11th Ave. R3239986 Pursuant to Colorado Revised Statutes("C.R.S.") Section 39-8-107 (3), Bridge & Associates respectfully request that the respondent county provide all documentation and data supporting the assessor's valuation of the above referenced property to the undersigned two (2) days prior to the above referenced BOE hearing. Sincerely, Thank you q t • s(S0..wpern Nationwide Property Tax Services IN Hello