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Home My WebLink About951548.tiffRESOLUTION RE: THE BOARD OF EQUALIZATION, 1995, WELD COUNTY, COLORADO PETITION OF: SMITH DONALD LARRY & SHERYL LEA 16903 WELD CO RD 6 FORT LUPTON, CO 80621 DESCRIPTION OF PROPERTY: PIN: R 6256186 PARCEL: 147123401008 - 4CE2-8 L8 BLK2 COUNTRY ESTATES #4 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 1995, 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 1995,•claiming that the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS, said petitioner being present, 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: 951548 AS0032 Pc.. s, ty ) RE: BOE - SMITH DONALD LARRY & SHERYL LEA Page 2 ORIGINAL Land $ 20,775 Improvements OR Personal Property 150.056 TOTAL ACTUAL VALUE $ 170,831 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 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) 951548 AS0032 RE: BOE - SMITH DONALD LARRY & SHERYL LEA Page 3 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 $150.00 per case. The arbitrator's fees and expenses, not including counsel fees, are to be paid as provided in the decision. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 1st day of August, A.D., 1995. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLOR9DO ATTEST% Weld County Clerkthi BY eputy Clerktk$h and APPROVED AS TO FORM: AX41d `1�wlO4J(Q o ty Attoi4 ey Dale RT iall, Chairman FxrlJRFn Barbara J. Kirkmeye�ro-Te%Lm GeorgeBaxter Constance L. Harbert / \ii W. H. Webster 951548 AS0032 /4o/' _.o-cg9 BOE DECISION SHEET PIN #: R 6256186 PARCEL #: 147123401008 SMITH DONALD LARRY & SHERYL LEA 16903 WELD CO RD 6 FORT LUPTON, CO 80621 HEARING DATE: August 1, 1995 TIME: 10:00 A.M. HEARING ATTENDED? Y'N) NAME AGENT NAME: APPRAISER NAME• DECISION: DECREASE IN VALUATION INCREASE IN VALUATION NO CHANGE IN VALUATION ASSESSMENT RATIO Land Improvements OR Personal Property Total Actual Value ACTUAL VALUATION ORIGINAL SET BY BOARD $ 711,775 $ =QC) 77'3' 95(-f1S6 /SG�f drry $ 170.831 $ /70)S-3 / COMMENTS: MOTION BY (!1,/ TO SECONDED BY 7j/i2 Baxter -- ( N) Hall --e1N) Failed to prove appropriate value Harbert -/N) No comparables given Kirkmeyer -- Other: Webster --ON) RESOLUTION NO._ 95154d CLERK TO THE BOARD PHONE (303) 356-4000 EXT.4218 FAX: (303) 352-0242 915 10TH STREET P.O. BOX 758 GREELEY, COLORADO 80632 '119€ COLORADO July 14, 1995 Parcel No.: 147123401008 PIN No.: R 6256186 SMITH DONALD LARRY & SHERYL LEA 16903 WELD CO RD 6 FORT LUPTON, CO 80621 Dear Petitioner(s): The Weld County Board of Equalization has set a date of Tuesday, August 1, 1995, at or about the our 10:00 or assessment. Tis heldhat the Weld CountytCentennial Center, 915 10th Street, fGreeley, Colorado, in therFiswill be o hold a hearing t 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, 1995, and mailed to you on or before August 16, 1995. 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. SMITH DONALD LARRY & SHERYL LEA - R 6256186 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: Kimberlee A. Schuett, Deputy cc: Warren Lasell, Assessor COLORADO NOTICE OF DENIAL 4CE2-8 L8 BL K2 COUNTRY ESTATES tt4 4 I 3 VII IC:i O1- CAJUN ti ASSESSOR 1400 NORTH 7th AVE. GREELEY. COLORADO 80631 PHONE (970) 353-3845. EXT. 3656 1 5 5 OWNER SMITH DONALD LARRY & SHERYL LEA SMITH DONALD LARRY E SHERYL LEA 16903 WELD CO RD fi FORT LUPTON CO 80621 05/11/1995 PARCEL 147123401003 PIN R 6256186 YEAR LOG 1995 01250 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 8Y 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: YOUR APPEAL WAS DENIED, THE PROPERTY VALUE IS CORRECT BASED UPON TIME TRENDED SALES BETWEEN JANUARY •93 AND JUNE •94. THESE SALES WERE TIME TRENDED TO THE END CF JUNE 1994. THIS IS DONE TO ACCOUNT FOR THE CONTINUING RISE IN MARKET VALUES DURING THAT TIME PERIOD, PROPERTY CLASSIFICATION PETITIONER'S ESTIMATE OF VALUE ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW LAND I MPS dS ' . ", / 20,775 1509056 20,775 1509056 TOTALS $ $ 170,031 $ 170,_a31 If you disagree with the Assessor's decision, you have the right to appeal to the Count 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 WELD COUNTY ASSESSOR 15-DPT-AR Form PR -207-87/94 05/15/95 ADDITIONAL INFORMATION ON REVERSE SIDE DATE 29 HAVE THCmCaal APBBSL THE ASSESSO 1 10 1 Fa • 40 . nabs bLa mm�g July and :'o' 4 DARE) } ' C. UAL Ci z F L:QUALIZA ICON Box 755 30652 District Court Mn Avenue ar.d 5th Hu eat, PO Box k; (,reniev.. (ninr-mss 80632 mtepi RAP ;9701 x56 4000, Ext. 4520 ti=totration: VVF_t C) LOON CC to a10a) O EQUALIZATION )t . iM mc:. t..,, box 758 you do not receive a determination irons the ttcunly sessmere Appeals by September 18. "ii','J PRESERVE MOOR AF'€xkAi Mfr;;=HO „t: THEREFORE, WE RECOMMEND ALL C. PE f i i 1"," i' ... hzation you must file an nu, .r emrercd glS;do/ / /4/e-rL2SC , /jGa o ,4c/rJaaz/ Av .SW -64 ( 77-cf tiai‘ 4O 7—//-9:5-' r.JL /1 ( A/ // 6 ?rJ �-c7O/j-0y, %/5 /(7 r%, U 74-c-7 ec- - 7Se 6 L-0452-- /ru?SFr- ix n (c///J` c✓ i t 7J /0/ K 2 ,) T i // /(,FgOzic/ro 3 ZJc//✓ /rc ,C196 11/ C? / ' S Q 0).26 f C/X (r y �1 -a ('v /.%; /5-- JO, /mac Pc I /Q',, /wit Co . 7fr 7i/ d rAAc i 77/c///,. fe,rr/4. / f -/-,c>7 ? pie-/ / 27/7 Pot COBoO0EO HEARING DATE: AUGUST 1, 1995 TIME: 10:00 A.M. SUBJECT: DONALD LARRY & SHERYL SMITH ADDRESS: 16903 W.C.R. 6, FT. LUPTON PIN#: 6256186 SUBJECT MOST COMPARABLE NEXT MOST COMPARABLE 3RD MOST COMPARABLE 4TH MOST COMPARABLE 5TH MOST COMPARABLE MICROSOLVE CAMA SYSTEM 05-11-1995, 15:53:51 WELD COUNTY Disk: 6 Class 95 Group 11 Sub -6p. 427 User:WEL 11/17/93 Session 1 1 Serialized Page 1 764 Report Page 1 1 COMPARABLES REPORT OF SOLD AND UNSOLD PROPERTIES Subject Record 1 14211 6256186 Sales file 69518P00.420 was used. 12 Records were considered. (The subject record was excluded from consideration.) Records were selected according to user -defined criteria 11 factors were used in the comparables selection. (The difference was raised to a power of 2 ). Record Range Considered = 1 to 6062 SUBJ.RECORD MOST COMPARABLE NEXT MOST COMP. 3rd MOST COMP. 4th MOST COMP. 5th MOST COMP. COMP.WT. ADJ.RATE RECORD No. 14211 RECORD I.D. 6256186 NAME/ADDR. 5160 5163 I 5155 5756 4693186 4643986 I 4691886 5824586 5450 SAGE CT N 285 CESSNA OR 20256 NORTHM00 20287 NORTHMOO 5666 5691486 4285 3 CR WELD 1 FACTOR FAC.VAL. 9 SALE PRICE 0 10 T ADJ SALE P 0 11 SALE DATE 0 121 NEIGHBORHOOD 29 39 STYLE 2 2 STORY 49 EXT WALL TYP 2 F HARD 35 YEAR BUILT 1984 38 TOTAL SO FT 2050 si GARAGE SO FT 1325 40 QUALITY 3 FAIR 42 BSMT SO FT 1025 43 FIN BSMT FUL 0 44 FIN BSMT PAR 0 45 NO, FUL BATH 2 46 NO. 3/4 BATH 0 47 NO. 1/2 BATH 1 15 LAND VALUE 20775 71 SUBDIVISION 5027020 44 OCC 2 VALUE 500 49 OCC 3 VALUE FAC.VAL. ADJUST 159500 189581.7 930709 29 0 2 2 STORY 2 F HARD 1984 0 1674 15416 756 5690 FAC.VAL. ADJUST 151600 172733 931029 29 2 2 STORY 2 F HARD 1993 1992 440 0 2378 8850 FAC.VAL. ADJUST 160000 192800 930615 29 2 2 STORY 6 F MASH 1986 0 2368 -13038 552 7730 5 AVG 4 FAIR + 5 AVG 837 2256 1032 -84 784 2892 0 0 0 0 0 0 0 0 0 0 0 0 1 3000 2 0 1 3000 1 -3000 0 2300 21700 -925 3027057 0 0 0 0 1 -3000 1 0 1 0 21000 -225 22050 -1275 3027057 3027057 0 0 0 0 FAC.VAL. ADJUST 174900 199281.1 931015 29 2 2 STORY 6 F MASH 1980 0 2294 -10004 528 7970 FAC.VAL. ADJUST 220000 221804 940602 29 0 10 0 2 2 STORY 2 F HARD 1971 0 10 0 1664 15826 20 41 1036 2890 10 10 6 AVG + 3 FAIR 594 5172 832 2316 10 12 0 0 832 -10816 10 13 0 0 0 0 10 13 2 0 1 3000 10 3000 0 0 1 0 34400 -13625 4020487 0 0 . T ADJ SALE P 0 . TOTAL ADJUSTMENTS ABOVE . ADJUSTED T ADJ SALE P 189,581 24,737 214,319 COMPARABILITY INDEX 100 MEAN WEIGHTED BY COMPARABILITY INDEX SALE PRICE 0 159,500 ACTUAL VALU 170,331 184,836 RATIO: F/C .7442 STD. DEVIATION OF (H.) ABOUT 1.0 197,639 .0315 172,733 10,919 183,652 192,800 -3,691 189,109 87 82 199,281 -10,487 188,794 1 -3000 10 3000 1 0 10 2300 40000 -14225 0 1 9017013 7326 0 221,804 -9,009 212,795 75 60 MEAN STD.DEV. 197,734 14,616 COV= 7.37. 151,600 160,000 174,900 220,000 151,239 210,015 236,024 185,167 .8255 .8461 .9264 1.0339 .8752 .1094 F+444444H+44444444444444444f4+44444+44+444H4444+++444+444+44+4444444444444444+4444++44444444444444+++44+444444444444444+444+4444 Sales Comparahies % c a 1-iN re; N wi o0 in 7 N -0 N Adjustment $ 167,881 sq ft + 5,121 bath + 1,400 bsmt + 750 gar + 725 S 175,877 rrlr, MNd' rnhnN N. 0 ,-.rr .-.lCnj kn i I , -tin icrEn A.n bi) Vl n S 170,750 sgft&ext - 19,889 bath - 1,245 bsmt - 1,481 gar 0 $ 156,9977 Garage Out bldg tel O N O rn in ^� LA VD in n tH O V to N 'n in on 4.00 acres 2 story 1,664 832 sf $1,036 1971 1 Full 40,000 Fair Frame 1 3/4 832 sf $7,326 1 Half Bsmt Size Bsmt Fin 1,025 sf -0- 837 sf -0- W U) N rn O O 784 sf -0- Plumbing 2 Full 1 Half r -I t -I W Cr) 2 Full 1 Half 1 Full 1 3/4 1 Half Sq. Ft. Imps Ext. Wall 2,050 sf Frame 1,674 sf Frame 1,992 sf Frame 2,368 sf Masonry Owner. Smith Donald Rc Sheryl yin # twit) Hit) PIN # Sales Date Land Size Style Address Sales Price Land Value Year Built Quality -171" coo -al N 'Cr coo N .< 2 story 1993 Fair Plus N tio co coo ,_ N— .< 9.10 acres 20,775 1.24 acres 21,700 1.20 acres 21,000 1.26 acres 22,050 07/09/93 159,500 189,581 10/29/93 151,600 172,733 06/15/93 160,000 192,800 06/02/94 220,000 221,804 SUBJECT Pin# 6256186 16903 W.C.R. 6 COMP 1 Pin# 4693186 20256 Northmoor COMP 2 Pint/ 4693986 5450 Sage Court COMP 3 Pint/ 4691886 20287 Northmoor COMP 4 Pint/ 5691486 4285 W.C.R. 3 Cin tiaN VD O H O LO d . . C — <Q Nn OM OcR.O NV' O WELD COUNTY 4 3 2 1 67 66 65 64 60 CO 6 12 0051 0049 0047 0045 0043 0041 0039 0037 0035 0033 0031 0029 11 0201 0203 0205 0207 0209 0211 0213 0215 0217 0219 0221 0223 10 0303 0301 0299 0297 0295 0293 0291 0289 0287 0285 0283 0281 9 0453 0455 0457 0459 0461 0463 0465 0467 0469 0471 0473 0475 8 0555 0553 0551 0549 0547 0545 0543 0541 0539 0537 0535 0533 7 0705 0707 0709 0711 0713 0715 0717 0719 0721 0723 0725 0727 6 0807 0805 0803 0801 0799 0797 0795 6 5 0957 0959 0961 0963 0965 0967 0969 5 D 2 Sale 1 I 1055 1053 1051 1049 1047 4 X61 Sale 3.57 1207 1209 1211 1213 1215 1217 1219 1221 3 131 1311 1309 1 07 1305 1303 1301 1299 2 Sale 4 Sale S 14. 1471 Subject '3 1475 1477 1479 1481 1 67 66 65 64 63 62 61 NOTICE OF DENIAL 4CE2-8 L8 BL K2 COUNTRY ESTATES k4 1400 NORTH 17th AVE. GREET PY, COLORADO 80631 PHONE (970) 353-3845. EXT. 3656 Wi�Dc. COLORADO 4 I 3 I 5 5 OWNER SMITH DONALD LARRY E SHERYL LEA SMITH DONALD LARRY L SHERYL LEA 16903 WELD CO RD 6 FORT LUP TON CO 80621 05/11/1995 PARCEL P I -N YEAR LOG 147123401005 R 6256186 1995 01250 Theappraisedvalue 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: YOUR APPEAL WAS DENIED, THE PROPERTY VALUE IS CORRECT BASED UPON TIME TRENDED SALES BETWEEN JANUARY '93 AND JUNE 94, THESE SALES WERE TIME TRENDED TO THE END CF JUNE 199.4. THIS IS DONE TO ACCOUNT FOR THE CONTINUING RISE IN MARKET VALUES DURING THAT TIME PERIOD. - PROPERTY CLASSIFICATION PETITIONER'S ESTIMATE OF VALUE ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE -AFTER REVIEW LAND IMPS 20,775 150,056 20,775 150,055 TOTALS S S 170,531 S 170, 831 If you disagree with the Assessors 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 filingyourappeal. By: WARREN L. LASELL WELD COUNTY ASSESSOR 15 -OPT -AR Form PR -207-87/94 05/15/95 ADDITIONAL INFORMATION ON REVERSE SIDE DATE L. EXHIBIT crf)/1/41 / 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 though •August 5 for cal property (!and and buildings) and personal property (furnishings. machinery, and equipment). 39-8-104 and 39-8-107(2), C.R.S. APPEAL PROCEDURES: ;f you choose to appeal the Assessor's,decision, you must appeal to the County Boa: d of Equalization. To preserve ,'our right to appeal, your appeal must be POSTMARKED OR DELIVERED ON OR BEFORE JULY ? 5 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 :OTIFICATION OF HEARING: ou will be notified of the time and ;dace set fo,'r the treating of your appeal. .:OUNTY BOARD OF EQUALIZATION'S DETERMINATION: .he County Board of Equalization must make a decloion on your appeal and mail you a determination within five ,usiness days. The County Board must conclude their hearings by August 5. •1 -AXPAYER RIGHTS FOR FURTHER APPEALS:., _; - ' ='° vot: are not satisfied with the County Board of Equafizatiori's decision; you must' fiie within !hiety dky& Of the ;ounty Board of Equalization's written decision With ONE of the•following: T 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 4 1T r• Arbitration:. ' WELD -COUNTY BOARD OFEQUALIZATION • 915 10th Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (970) 356-4000, Ext. 4225 f 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 APPE.kL; THEREFORE, WE RECOMMEND ALL CORRESPONDENCE BE MAILED WITH PROOF OF MAILING. PETITION TO THE COUNTY BOARD OF EQUALIZATION n the space below, please explain why you disagree with the Assessor's valuation. 1N ACCORDANCE WITH ,9-8-106(1.5), C.Ft:St,•YOU MUST STATE YOUR OPINION OF VALUE IN TERMS OF A SPECIFIC DOLLAR ,MOUNT. Attach additional documents as necessary. ES; ir^//fa/ rE2SC p.%% /S , /�/'/T7[J / /,y s 4 7;-.4( /a c5b- arc,r r��Fo PURPOSE OF THE APPRAISAL The purpose of this appraisal is to establish a supportable estimate of market value of the land at 16903 WCR 6, Ft. Lupton, Colorado. DEFINITION OF MARKET VALUE "Market Value," as Used in this study, is defined as Follows: "The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: 1. buyer and seller typically are motivated; 2. both parties are well informed or well advised, and acting in what they consider their own interests; 3. a reasonable time is allowed for exposure in the open market; 4. payment is made in terms of cash in United States dollars or in terms of financial arrangements comparable thereto; and 5. the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale." Source: Uniform Standards of Professional Appraisal Practice, The Appraisal Foundation, 1990. FUNCTIONS OF THE APPRAISAL The function of this appraisal is to establish collateral value for the purpose of mortgage financing. Any other use including, but not limited to, condemnation, syndication, estate planning, etc., requires the prior written consent and approval of the appraiser. SCOPE OF THE APPRAISAL The subject is currently being a residential site for a single family residence. Sales comparable use are within a 4 mile radius. DATE OF VALUE I inspected the property on April 29, 1992 and photographed it and the comparable at the same time. April 29, 1992 will be the r le EXHIBIT . effective date of value. PROPERTY RIGHTS APPRAISED The appraisal is prepared assuming that the subject includes all rights that may be lawfully own ed and the title, therefore, is held in "fee The term "Fee Simple" is defined as: "absolute unencumbered by any other interest or estate subject only to the four powers of government." Source: The dictionary of Real Estate Appraisal, 2nd Edition, 1988, American Institute of Real Estate Appraisers. simple" ownership OWNER OF RECORD Owner's of recorder are Donald Larry Smith and Sherly Smith, tenants, an purchased 10 years ago as a vacant lot. joint LEGAL DESCRIPTION Lot 8, Block 2, County Estates, 4th Filing in the County of Weld, State of Colorado. NEIGHBORHOOD DESCRIPTION The subject property is located in southern Weld County approximately 5 miles northeast of the City of Brighton. The subject is in a subdivision surrounded by farm ground. TRANSPORTATION Public transportation is non-existent in this area at this time. MAJOR EMPLOYERS At this time the largest employer in this area is the County of Adams. The balance of employment, other then in Brighton, are those private companies in the Denver metro area. EXISTING LAND USE Presently being used for residential with farming and related uses. The present use, residential, is the highest and best use. April 29, 1992 Gary M. Degge, CREA UTILITIES United Power supplies electrical service to this area, U. S. West supplies telephones and that's about all that's available. DESCRIPTION OF THE SUBJECT SITE HIGHEST AND BEST USE To determine the highest and best use of a real property such as the subject, it is necessary first to identify which uses are legally and physically possible, and then which uses are probable. The legal and physical possibilities may usually be determined by consulting with the appropriate land use controls authority. A residential single family home site is the highest and best use. ZONING Existing zoning at the subject is County and permits agricultural changes in land use patterns anticipated in the vicinity that improvements. MARKET CONDITIONS A (Agricultural District) by Weld related uses. Generally, major or related regulations are not would affect the subject site or As of the date of value, the Denver metropolitan area real estate market has generally experienced a boom period increasing the level of planned growth in urban development. SUBJECT PROPERTY Is a single family 2 story home located northeast of Brighton approximately 5 miles with good access via Weld County roads. Datsci this 2th day of April 1992. Gary/Ki. Degge, CREA GARY M. DEGGE, CREA CERTIFICATE OF APPRAISAL I, Gary M. Degge, so hereby certify that, to the best of my knowledge and belief: the statements of fact contained is this report are true and correct; my personal, unbiased, professional analyses, opinions, and conclusions, reports herein, are limited only by the reported assumptions and limiting conditions; I have no present or prospective interest in the property which is the subject of this report, and I have no personal interest or bias with respect to the parties involved; my compensation is not contingent upon a predetermined value, a value that favors the cause of the client, the amount of the value estimated, the attainment of a stipulated result, or the occurrence of a subsequent event; my analyses, opinions and conclusions were developed and this report has been prepared in conformity with; the Uniform Standards of Professional Appraisal Practices and the requirements of the Code of Professional Practice of the Appraisal Institute, and the use of this report is subject to the requirements of the Appraisal Institute relation to review by its duly authorized representatives; I am currently certified under the continuing education program of the National Association of Real Estate Appraisers. I have made a personal inspection of the property which is the subject of this report; no one provided significant professional appraisal assistance to the persons signing this report; the "estimate of market value" in the appraisal report is not based in whole or in part on the race, color, or national origin of the prospective owners or occupants of the property or the properties in the vicinity of the property appraised; and all conclusions and opinions concerning the real estate that are set forth in the appraisal report were prepared by the appraiser whose signature appears on the appraisal report. No change of any item in the report shall be made by anyone other than the appraiser, and the appraiser shall have no responsibility for any such unauthorized changes. EXHIBIT • ASSUMPTIONS AND LIMITING CONDITIONS This appraisal is subject to the following assumptions and conditions: 1. I have no present or contemplated future interest in estate that is subject to this appraisal report; nor do I personal or bias with respect to the subject matter appraisal report or the parties involved. 2. The date of value to which the conclusions and opinions expressed in this report apply is set forth in the letter of transmittal. Further, the dollar amount of any value opinion rendered in this report is based upon the purchasing power of the American dollar existing on that date. 3. The appraiser assumes no responsibility for economic or physical factors, which may affect the opinions in the report, which occur after the date of the letter transmitting the report. 4. Forecasts of anticipated revenue and expenses are based on my analyses of market trends, economic conditions, and historical operating results of the property. Such forecasts are dependent on assumptions as to future economic, social, and political conditions as well as market related activity. They represent my opinion of current investor attributes and motivations applicable to the class of property appraised, and no warranty or representation that these forecasts will materialize is implied. 5. To the best of my knowledge and belief, the statements of fact contained in this report, upon which the analyses, opinions and conclusions expressed herein are based, are true and correct. 6. All information in this study has been obtained from reliable sources. The writer cannot, however, guarantee or be responsible for the accuracy of information furnished by others. 7. No opinion as to title is rendered. Data on ownership and legal description of the property being appraised were obtained from sources generally considered to be reliable. Title is assumed to be marketable and free and clear of all liens and encumbrances, easements, and restrictions except those specifically discussed in the report. The property is appraised assuming it will be under responsible ownership and competent management and available for its Highest and Best Use. 8. No one other than the writer prepared the analyses, conclusions, and opinions concerning the real estate that are set forth in this report. 9. The appraiser reserves the right to make such adjustments to the analyses, opinions, and conclusions set forth is this report as may be required by consideration of additional data or more reliable data that may become available. limiting the real have any of this 10. The appraiser assumes no responsibility for hidden or unapparent conditions of the property, subsoil, or structures that render it more or less valuable. No responsibility is assumed for arranging for engineering studies that may be required to discover them. 11. The property is appraised assuming that all required licenses, certificates of occupancy, consents, or other legislative or administrative authority from any local, state, or national government or private entity or organization have been, or can be, obtained or renewed for any use on which the value estimate contained in this report is based, unless stated. 12. The property is appraised assuming that all applicable zoning and use regulations and restrictions have been complied with, unless otherwise stated. 13. No engineering survey has been made by the appraiser. Except as specifically stated, data relative to size and area was taken from sources considered to be reliable, and no encroachment of real property improvements considered to exist. 14. No soil tests or environmental studies were available. It is assumed that the:e are no subsurface, toxic wastes, or building material hazards in the property that would adversely affect its existing or potential use. 15. Unless specifically stated, this appraisal does not take into consideration the possibility of the existence of asbestos, PCB transformers, or other toxic, hazardous, or contaminated substances and/or underground storage tanks (hazardous material), or the cost of encapsulation or removal thereof. Should the client have concern over the existence of such substances on the property, it is recommended that the services of a qualified, independent engineer or contractor be retained to determine the existence and extent of any hazardous materials, as well as the cost associated with any required or desirable treatment or removal thereof. 16. No opinion is expressed to the value of subsurface oil, gas, or mineral rights or whether the property is subject to surface entry for the exploration or removal of such materials except as expressly stated. 17. Maps, plats, and exhibits included in this report are for illustrative purposes only as an aid in visualizing matters discussed within the report. They should not be considered as surveys or relied upon for any other purpose; nor should they be removed, reproduced, or used apart from this report. 18. The distribution, if any, of the total valuation in this report between land and improvements applies only under the stated program of utilization. The separate allocations for land and buildings must not be used in conjunction with any other appraisal and are invalid if so used. 19. No opinion is intended to be expressed for matters which require legal expertise or knowledge beyond that customarily employed by real estate appraisers. 20. Possession of this report, or a copy thereof, does not imply the right of publication or use for any other than the addressee without the written consent of the appraiser. Further, neither all nor any part of this report shall be disseminated to the general public by the use of advertising media, public communication without the prior written consent of the signatory of this report. 21. This report may be distributed by the client for whom it was prepared, in its entirety, to such third parties as may be selected by the client; however, selected portions of the appraisal may not be given to third parties without the prior written consent of the appraiser. 22. Thewriterof this report is not required to give testimony or attendance in court by reason of this analyses, unless prior arrangements have been made in writing. 23. Loss or removal of any portion of this report or use for other than intended, invalidates the entire report and value conclusions. 24. The original copies of this report have an original signature. Any copy that does not have the above is unauthorized and may have been altered. 26. Use of this report by a third party(ies), for any purpose, does not obligate the appraiser in any way to the third party(ies). 411‘Mj pGary . Degge, GREA REPORT SUMMARY Purpose of the Appraisal: The purpose of this appraisal is to establish a supportable estimate of market value of the home and land at 16903 WCR 6, Ft Lupton, Colorado. Definition of Market Value: In accordance with the Uniform Standards of Professional Appraisal Practices, the Appraisal Foundation, 1990. Functions of the Appraisal: It is understood that this report will be used to establish collateral value for the purpose of mortgage financing. Property Rights Appraised: Date of Value: Zoning: Type of Property: Gross Land Area (Project): Final Value Estimate: Fee Simple. April 29, 1992 Country Agricultural/Residential. Residential. 10 acres more or less. $133,000.00 QUALIFICATIONS OF GARY M. DEGGE, CREA APPRAISER REAL ESTATE EDUCATION Real Estate Law Real Estate Practices Real Estate Contracts Real Estate Closings and Trust Accounts Real Estate Finance Techniques of Real Estate Selling Advanced Real Estate Law and Finance Property Investments Residential Appraisal Standard of Practices and Ethics Appraisal Licensing The Uniform Residential Appraisal Report Appraisal Guide for Vacant Residential Land Appraisal Guide for Condominium Appraisals Appraisal Guide for Rural Properties Valuing a Log Home Appraisals in Small Towns Appraisal Guide for Small Apartment Buildings Preparing a Narrative Appraisal Report Guidelines on Becoming an Expert Witness Appraisal Guide for Mobile Home Appraisals PROFESSIONAL ORGANIZATIONS University of University of University of Co Co Co University of Co University of Co University of Co University of Co Boulder Voc-Tec NAREA NAREA NAREA NAREA NAREA NAREA NAREA NAREA NAREA NAREA NAREA NAREA NAREA National Association of Real Estate Appraisers (CREA) National Association of Realtors Colorado Association of Realtors North Suburban Board of Realtors Firestone Town Board (Mayor Pro-Tem) Colorado Municipal League Chairperson of the Boulder County Bi-Centennial Committee REAL ESTATE EXPERIENCE Licensed by the Colorado Real Estate Commission as a salesman since 1971 and then as a broker since 1986. I have worked in both residential and commercial fields of real estate. In 1985, I became a fee appraiser. COLORADO CERTIFIED REAL ESTATE APPRAISER License Number AC01316360 Under: The Financial Institutions Reform, Recovery, and Enforcement Act of 1989; Requires that all appraisers for federally insured banks be licensed. And that state certified appraiser is allowed to appraise residential and commercial properties. EXHIBIT lb /DEFINITION OF -MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer end seller, each acting prudently,knowledgeably and assuming the price is not affected by undue stimulus. Implicit -in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or -well advised, and each acting in what he considers his own best. interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions` granted by anyone associated with the sale. 1 •Adjustments to -the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since -the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involvedinthe property or transaction. Any adjustment shouldnotbe calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based -on the -appraiser's judgement. CERTIFICATION AND STATEMENT OF LIMITING CONDITIONS CERTIFICATION: The Appraiser certifies and agrees that: 1. The Appraiser has no present or contemplated future interest in the property appraised; and neither the employment to make the appraisal, nor the compensation for it, is contingent upon the appraised value of the property. 2. The Appraiser has no personal -interest in or bias with respect to the subject matter of the appraisal report or the participants to the sale. The "Estimate of Market Value" in -the appraisal report is not based in whole or in part upon the race, color, or national origin of the prospective -owners or occupants of the property appraised, or upon the race, color or national origin of the present owners or occupants of the properties in the vicinity of the property appraised. 3. The Appraiser hes personally inspected the property, both inside and out, and has made an exterior inspection of all comparable sales listed in the report. To the best of the Appraiser's knowledge and belief, all statements end information in this report are true and correct, and the Appraiser hes not knowingly withheld any significant information. 4. Allcontingentand limiting conditions ere contained herein (imposed by the terms of the assignment or by the undersigned affecting the analyses, opinions, and conclusions contained in the report). 5. This appraisal report hes been made in conformity with -and is subject to the requirements of the Code of Professional Ethics and Standards of Professional Conduct of the appraisal organizations with which the Appraiser is affiliated. 6. Allconclusionsand opinions concerning the real estate that are set forth in the appraisal report were prepared by the Appraiser whose signature appears on the appraisal report, unless indicated as "Review Appraiser." No change of any item in the appraisal report shall be made by anyone other than the Appraiser, and the Appraiser shall have no responsibility for any such unauthorized change. CONTINGENT AND LIMITING CONDITIONS: The certification of the -Appraiser -appearing in the appraisal report is subject to the following conditions and to such other specific -and limiting conditions as are set forth by the Appraiser in the report. 1. The Appraiser assumes no responsibility for matters of a legal nature affecting the property appraised or the title thereto, nor does the Appraiser render any opinion as to the title, which -is assumed to be -good and marketable. The property is appraised as though under responsible ownership. 2. -Any sketch in the report may show approximate dimensions and-isdncluded to assist the reader in visualizing the property. The Appraiser has made no survey of the property. 3. The Appraiser is not required to give testimony or appear in court because of having made the appraisal with reference to the property in question, unless arrangements have been previously made therefor. 4. Any distribution of the valuation in the report between land and improvements -applies only under the existing program of utilization. The -separate valuations for landandbuilding must not be used in conjunction with any other appraisal and are invalid if so used. 5. The Appraiser assumes that there are no hidden or unapparent conditions of the property,subsoil, or structures, which -would render it more or less valuable. The Appraiser assumes no responsibility for such conditions, or for engineeringwhichmight be required to discover such factors. 6. Information, estimates, and opinions furnished to the Appraiser, and contained in the report, were obtained from sources considered reliable and believed to be true and correct. However, no responsibility for accuracy of such items furnished the Appraiser can be assumed by the Appraiser. 7. Disclosure of the contents of the appraisal report is governed by the Bylaws and Regulations of the professional appraisal organizations with which the Appraiser.is affiliated. 8. Neitherall, nor any part of the content of the report, or copy thereof (including conclusions as to the property value, the identity of the Appraiser, professional designations, reference to any professional appraisal -organizations, or the firm with which the Appraiser is connected), shell be used for any purposes by anyone but the client specified in the report, the borrower if appraisal fee paid by same, the mortgagee or its successors and assigns, mortgageinsurers, consultants, professional appraisal organizations, any state or federally approved financial institution, any department, agency, or instrumentality of the United States or any state or the District of Columbia, without the previous written consent of the Appraiser; nor shall it be conveyed by anyone to the public through advertising, public relations, news, sales, or other media, without thewrittenconsent and approval of the Appraiser. 9. On all appraisals, subject to satisfactory completion, repairs, or alterations, the appraisal reportandvalue conclusion are contingent upon completion of the improvements in a workmanlike manner. Date April 29, 1992 Appraiser jW`-`-1' GARY M. DEGGE, CRE Date April 29, 1-992 Review Appraiser ` Freddie Mac AC01316360 Co Lic. # Fannie Mee / Form 438 JUL 86 Form 10048 JUL B6 This form was produced by United Systeme Software Corporation - Mess, AZ USA - 18021 892-7 97 4 Property Deserlotlon and Analysis IAL APPRAISAL REPORT 92-041 Flle No. 16903WCR6 Property Address 16903 Weld Road 6 Census Tract 19 LENDERS DISCRETIONARY USE Sale Price sn/a S —County City Brighton CountyWeld State CO Zip Code 80601 Date 4 Legal Description Lot 8 Block 2, County Estates 4th Filing -- Mortgage Amount $_ Owner/Occupant Smith, j)pna],d Tarry and Sherly Map Reference 0802660983C Mortgage Type Price $ •i a Date of Sale RIGHTS APPRAISED Discount Points and Other Concessions Paid by Seller $ /Sale Loan charges/concessions to be -paid by seller $ �PROPERTY I n r Fee Simple R.E. Taxes S 1,146.84 Tax Year 91 HOA 5/Mo. n/a Leasehold Lender/Client Platte Valley Bank of Brighton n Condominium (HUD/VA) Source 30 N. 4th Avenue. Brighton, Co 80601 U De Minimus PUD iIiii E: a'' LOCATION BUILT UP GROWTH RATE PROPERTY VALUES DEMAND/SUPPLY MARKETING TIME MI . n In Urban Over 75% Rapid Increasing Shortage Under 3 Mos. M IT E4 7 ® XI Suburban 25-75% Stable Stable In Balance 3-6 Mos. IN n . E=j Rural Under 25% Slow Declining Over Supply Over 6 Mos. NEIGHBORHOOD ANALYSIS Good Employment Stability � Convenience to Employment � Convenience to Shopping Convenience to Schools Adequacy to Public Transportation [rn Avg. Ei X X X Fair 1 la Poor f li: PRESENT LAND USE % Single Family 40 LAND USE CHANGE Not Likely � PREDOMINANT OCCUPANCY SINGLE FAMILY HOUSING PRICE AGE Recreation Facilities Adequacy of Utilities i:i ':4 a .8 2-4 FamilyLikely Owner 95 ® $ (000) (yrs) Property Compatibility O *4 MI iI Multi -Family In Process Tenant 5 El 90 Low 0 Protection from Detrimental Cond. in ® O I) Commercial To: Vacant 10.5%) ® High 200 g 80 Police & Fire Protection 0 El }1:'. Industrial Vacant over 5% _ Predominant General Appearance of Properties71 O El ;Oz: Vac.Fa flS 60 125 — 15 Appeal to Market 0 ® C1 Q • Note: Race or the racial composition of the neighborhood are not considered reliable appraisal factors. located in Country Estates Addition approximately 6 miles _- _-- COMMENTS: Subject is 20 miles north of downtown Denver. Average access northeast of Brighton and to area's via county roads. surrounding I I ::HIGHEST 330 feet X 1320 feet Topography Gentle sloping Dimensions Corner Lot NOAI Size Typical _ Site Area _ 10 Acres - Zoning Compliance County Residential Yes Shape Rectangular Zoning Classification & BEST USE : Present Use Residential Other Use None Drainage Adequate Public Other SITE IMPROVEMENTS Type Public Private View Good j s '' is :i• UTILITIES Gravel Ki mg Landscaping Average Electricity Ky United Street Driveway Gravel Gas = LP Curb/Gutter Water 0 �P 1 Sidewalk El� Apparent Easements PU�tyge ''3-�`� _ Sanitary Sewer I 1 Septic u Street Lights . FEMA Flood Hazard Yes' - - No - X_ Storm Sewer Li None Alley I. III FEMA• MAP/Zone_080266 0983 C •:i slide areas, etc.): No adverse conditions were COMMENTS (Apparent adverse easements, encroachments, special assess., during inspection. observed l' ' :; 2s? H?:. . E >., - : GENERAL DESCRIPTION Units I_ EXTERIOR DESCRIPTION Foundation Concrete FOUNDATION Slab BASEMENT Area Sq. Ft. 1025 INSULATION Roof % Finished 80 Ceiling Crawl Space Exterior Walls Wood Stories 2 Ceiling Drywall Walls Basement X Roof Surface Comp Guttr. & Dwnspts. NO Type (Det./Att.l Det Walls Drywall Floor Sump Pump No Design (Style) 2 story Floor Carpet None Dampness Window type Metal Existing Yes Outside Ent. Yes Adequacy El _NQ Settlement j3Q Storm Sash None Proposed Energy Efficient Items: Infestation xQ Screens Yes Under Construction No _ Manufact. House No Age (Yrs.) 8 - Effective Age (Yrs ) 4 Ri ! :>*;: Den Family Rm. Rec. Rm. Bedrooms # Baths Laundry Other Area Sq. Ft._ ROOMS Foyer Living Dining Kitchen 1 1 1 Rghin 1,025 Basement - - 5 1 1,025 Level 1 1 1 1 . - - 3 2 1,025 Level 2 7 Finished area above grade contains: 7 Rooms: 3 Bedroom(s) : 2 . 5 Bath(s): 3 , 075Square Feet of Gross Living Area ••• : i T'' ?; R: :ltS,siood SURFACES Materials/Conditions Floors Carpet _ HEATING Type HW KITCHEN EQUIP. Refrigerator Range/Oven Disposal Dishwasher Fan/Hood Compactor Washer/Dryer Microwave Intercom X X [I X i4 . - i ] I ! ATTIC None Stairs Drop Stairs Scuttle Floor Heated Finished . . O O El . IMPROVEMENT ANALYSIS Good Quality of Construction Condition of Improvements Room Sizes/Layout Closet and Storage Energy Efficiency Plumbing -Adequacy & Condition Electrical -Adequacy & Condition Kitchen Cabinets -Adequacy & Cond. Compatibility to Neighborhood Appeal & Marketability Estimated Remaining Economic Life Estimated Remaining Physical Life O . O O a Q El Avg. E4 ® ® X ® `4 : PA X E4 Fair E O Q . II 30 30 Poor Ell 0 Q III O . 0 Yrs. Yrs. Fuel LP Condition Avg Adequacy Yes Walls Dw/Pnl Trim/Finish Wood Bath Floor Vinyl COOLING Central None Bath WainscotTile Doors Wood/Solid Other Condition stoves Adequacy F.ireplace(s) FR ,i1 �i CAR STORAGE: Garage No. Cars 3 Carport fit O Attached Detached Built-in (X I O El Adequate Inadequate Electric Door ►A n � House Entry Outside Entry Basemt. Entry `m a El None Condition Avg_ 0 24' by 33' workshop in that Additional Features: 400 square foot livestock shed, .gage be to Jiving space. Home sets on top of_.ill_giving a great rould converted domestic well. view of the front range-. 1,000 foot etc.): No repairs or maintenance items Depreciation (Physical, funct. end external inadequacies, repairs needed, modernization, noted during inspection of property. were >t interest buydowns & concessions: Market General market conditions and prevalence and impact in sub./market area regarding loan discounts, g y 6 and interest rates are lower conditions have improved over the past months then they have been. 1 _„ Fannie Mae Form 1004 10/86 W UNITED SYSTEMS SOFTARE CORPORATION (6021 892- Freddie Mac Form 70 10/86 92-041 UNIFORM RESIDENTIAL APPRAISAL REPORT File No. 16903W •o Purpose of Appraisal is to estimate Market Value as defined in the Certification & Statement of U'sniting Conditions. Refinance' P. 8..', '' A p; o •A C.! H: BUILDING SKETCH (SHOW GROSS LIVING AREA ABOVE GRADE) If for Freddie Mac or Fannie Mae, show only square foot calculations and cost approach comments in this space. 24 X 42.71 X 1 = 1025.04 24 X 42.71 X 1 = 1025.04 24 X 42.71 X 1 = 1025.04 24 X 55.21 X 1 = 1325.04 GROSS LIVING AREA: 3075 ESTIMATED REPRODUCTION COST- NEW -OF IMPROVEMENTS: Dwelling 3,075 Sq.Ft. @ $ 38.5 = $ )18,388 Sq.Ft. @ $ = Extras Shed = 4,000 = Special Energy Efficient Items Porches, Patios, etc. Garage/Carport 1325 Sq.Ft.-@ $ 15.00 = 19.875 Total Estimated Cost New ....97% = $ 142,263 Physical Less 1% Depreciation 1,400 Functional 1% 1,400 External 137, 995 1% 1,400 =s —4,200 Depreciated Value of Improvements = $ 133,795 - Site Imp. "as is" (driveway, landscaping, etc.) = $ 3.000 ESTIMATED SITE VALUE -= $ 25.000 (If leasehold, show only leasehold value.) Actual 161, 795 INDICATED VALUE BY COST APPROACH ,Rounded= 5 161, 000 (Not Required by Freddie Mac and Fannie Mae) Does property conform to applicable HUD/VA property standards? If No, explain: X Yes No Construction Warranty I I Yes IJ No Name of Warranty Program Warranty Coverage Expires The undersigned has recited three recent listings of properties most similar and proximate to subject and has considered these in the market analysis. The description includes a dollar adjustment, reflecting market reaction to those items of significant variation between the subject and comparable properties. If a significant item in the comparable property is superior to, or more favorable then, the subject property, a minus I -I adjustment is made, thus reducing the indicated value of subject; if a significant item in the comparable is inferior to, or lees favorable than, the subject property, e plus (+I adjust. is made, thus increasing the indicated value of the subject. ITEM I SUBJECT LISTING NO. 1 LISTING NO. 2 LISTING NO. 3 16903 Weld County Address Brighton, Co 8060 14176 WCR 8 Brighton, Co 17765-WCR 10 Brighton, Co 15515 WCR 10 Brighton, Co Prox. to subject 3 miles NW 4 miles NE 2.5 miles north Listing Price a n/a '::5 156,500 .. 134 500 < 126,750 Price / GLA $ d $ 134.33 ci so 174.53 5 74.55 Data Source Inspected MLS MLS MLS VALUE ADJUST. DESCRIPTION DESCRIPTION I +/-Adjustment DESCRIPTION I +/- Adjustment DESCRIPTION I +/-Adiustment Offered Listing or Financing Concessions Owner Carry VA Cony A: A Days on Market n/a 104/10-8-91 236/11-9-91 24/9-27-92 L. Location Average Average Average Average g Site/view 10 Acres/Gd 35/Acres/Gd —22,300 8.2ac/Gd 1.600 10 Acres/Gd ;!:''' Design & Appeal 2 story/Avg_ Ranch/Avg Ranch/Avg Ranch/Avg of Count. Average Average Average Average MgQuality Age 8 :S 54 vrs 20 vrs 13 v*'t3 Condition Average Average Average Average AI il Total Bdrms --Baths Total Bdrms -Baths Total Bdrms Baths Total Bdrms Baths Above Grade 7 3 2.5 5 3 1 7 4 2 5 3 2 ! Room Count Gross Living Area 2,050 Sq.Ft. 1,165 Sq.Ft. 17,700 1.080 Sq.Ft. 19,400 1,700 Sq.Ft. 7,000 'II., Bsmt.&Finished Rms Below Grade 1025 Sq.Ft. 80% Finish 0 0 7,700 600 1080 95 —400 —100 1500 40 —3,600 300 A Functional Utility Average Average Average Average N' Heating/Cooling HW/LP FA/G —1,000 FA/TAP —500 HW/LP Garage/Carport 3 car att 9 car det —3,000 1 car att 4,500 2 car att 2.500 Porches, Patio, Pools, etc. S.t Special Energy Efficient items Fireplace(s) 1 —FR 0 1.500 0 1,500 1 —Kt Other e.g.kitchen equip. -remodeling) Ref,R/O,Dsp ➢sit F/H Same Same Same Net Adj. (total) '' [XIn - $ 1, 200 W + I I - $ 26 A000 I X I + n s 6.200 Indicated Value of Subject G%a 34=3 i�. N%. 0.76 f: s 157, 700 G%a 20`$ a N%. 19 3 $ 160,500 G% 10.5 N` r 4.89 s 132,950 is like comparable 3 comparables 1 and 2 had a Cmnts. on Sales Comparison: Subject most . long market time, which is not consistent to todays market but are comparable in location. $ 133,000 INDICATED VALUE BY SALES COMPARISON APPROACH 1,100 /Mo. x Grs. Rent Multiplier ) 25 =$ 137, 500 �.. INDICATED VALUE This appr.-is made BY INCOME X of APPROACH (If Applicable) Est. Mkt. Rent $ "as is" fl -subject to the repairs, alterations, inspections or conditions listed below completion per plans and specifications. Appraisal: No repair nor maintainence items were observed upon Comments/Conditions C Final Reconciliation: Sales comparison approach was given the most weight in the from replacement mat and income _ ., determination of pmhahle value with support capproaches. •..4 L I. This appraisal is based upon the above requirements, the certification, contingent and limiting conditions, and Market Value definition that are stated fi FanHA, HUD &/or VA instructions. with client 19 in X attached. i#:. I� Freddie Mac Form -439 (Rev. 7/86)/Fannie Mae Form 10048.1Rev.7/86)-filed April 29 1992 to be 6 133,000 T; Q- N i1WE) ESTIMATE THE MARKET VALUE. AS DEFINED, OF THE SUBJECT PROPERTY AS OF I (We) -certify: that to the best of my (our) knowledge end belief the facts and data used herein are true and correct; that I (we) personally inspected both inside and out, and have made en exterior insp tion of all comp. sales -cited in this report; end that I (we) have no undisclosed interest, therein. �' Review Appraiser SIGNATURE SIGNATURE ami7 h1, /L—Jt ( present El the subject prop. or prospective Did ❑ Did Not — Appraiser(s) NAME GARY M. MEGGE, tpEA''/ (If applicable) NAME AC01316360 Co Lie. 4 Inspect Property Fannie Mae Form 1004 10/86 Freddie Mac Form Co EAJLUNG DATE: AUGUST I, 1995 TIME: 10:00 A.M. SUBJECT: DONALD LARRY & SHERYL SMITH ADDRESS: 16903 W.C.R. 6, FT. LUPTON PIN#: 6256186 I C R O S O L V E CAMP: SYSTEM 05-11-1995. 15:38:42 LO COUNTY Disk: 6 Class 95 Group 11 Sub -6p. 427 User:WEL /17/93 Session I 1 Serialized Page M 762 Report Page 4 1 1PARABLES REPORT OF SOLD AND UNSOLD PROPERTIES Subject Record 4 14211 6256186 les file 69518P00.420 was used. Records were considered. (The subject record was excluded from consideration.) ?cords were selected according to user -defined criteria l factors were used in the compar..ables selection. 'he difference was raised to a power of 2 ). Record Range Considered = 1 to 6062 SUBSTRECORD MOST CORPARABLE NEXT MOST COMP. 3rd MO 1 COMP. 4th MOST COMP. 5th MOST COMP. COMP.WT. ADJ.RATE RECORD No. 14211 14154 5160 5163 RECORD I.D. 6256186 aaaaaaa 4693186 4693986 NAME/ADDR. 20256 NORTHMOO aaaaaaaaaaaeaaa l*�INP.. jr4G1/�5450 SAGE CT N e%tj%l A'6A'C�! FACTOR FAC.VAL. FAC.VAL. ADJUST FAC.VAL. ADJUST FAC.VAL. ADJUST .........Y,,, 64,4,,,,,,4, ,,,,1„4,,,,,♦ ' SALE PRICE 0 0 159500 151600 ' T ADJ SALE P 0 0 189581.7 172733 SALE DATE 0 0 930709 931029 NEIGHBORHOOD 29 0 0 29 0 29 0 STYLE 2 2 STORY 0 NO DATA 2 2 STORY 2 2 STORY EST WALL TYP 2 F HARD 0 NO DATA 2 F HARD 2 F HARD YEAR BUILT 1984 0 0 1984 0 1993 0 TOTAL SO FT 2050 /7,f0 0 84050 1674 15416 1992 2378 22c) ; , GARAGE SO FT 1325 i„ 74- 0 13250 756 5690 440 8850 2: OUALITY 3 FAIR 0 NO DATA 5 AVG 4 FAIR + BSMT SO FT 1025 ;r,. 0 12300 837 2256 1032 -84 FIN BSMT FUL 0 0 0 0 0 0 0 FIN BSMT PAR 0 0 0 0 0 0 0 NO. FUL BATH 2 0 6000 1 3000 2 0 NO. 3/4 BATH 0 0 0 1 -3000 0 0 NO. 1/2 BATH 1 0 2300 0 2300 1 0 LAND VALUE 20775 0 20775 21700 -925 21000 -225 SUBDIVISION 5027020 0 3027057 3027057 DCC 2 VALUE 500 0 0 0 OCC 3 VALUE 0 0 0 0 T ADJ SALE P 0 0 189,581 172,733 TOTAL ADJUSTMENTS ABOVE 138,675 24,737 10,919 ADJUSTED T ADJ SALE P 138,675 214,319 183,652 COMPARABILITY INDEX 100 72 66 MEAN WEIGHTED BY COMPARABILITY INDEX 174,014 SALE PRICE -0- 0 159,500 151,600 ACTUAL YALU 170,331 0 184,836 151,239 RATIO: F/C 0 .7442 .8255 STD. DEVIATION OF (H.) ABOUT 1.0 .274 10 0 10 0 20 41 10 10 10 12 10 13 10 13 10 3000 10 3000 10 2300 0 MEAN STD.➢EV. 17➢,882 1,604 COV= 94.6X .3139 .4308 kw W1�'Yc. COLORADO July 14, 1995 SMITH DONALD LARRY & SHERYL LEA 16903 WELD CO RD 6 FORT LUPTON, CO 80621 Dear Petitioner(s): CLERK TO THE BOARD PHONE (303) 356-4000 EXT.4218 FAX: (303) 352-0242 915 10TH STREET P.O. BOX 758 GREELEY, COLORADO 80632 SAS 4;2- ✓ TALK - 0 Parcel No.: 147123401008 PIN No.: R 6256186 The Weld County Board of Equalization has set a date of Tuesday, August 1, 1995, 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 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, 1995, and mailed to you on or before August 16, 1995. 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. . SMITH DONALD LARRY & SHERYL LEA - R 6256186 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: n?7. %; /0 l/l Y%/COQ Kimlerlee A. Schuett, Deputy cc: Warren Lasell, Assessor m `o E m —'« o a o cd >°v m =yam or 3 ao N _ �M °' o c¢j Ca.90 >- .... > . m Q - C O LI I. _ _ �P .._ _ .. `) - N Ro.C - W.+ Oa -. .O a) L d a•a0 �� 2 o a)` r . - T A o N E u Oaf N - °z. 4 n Fa" Od O O ANN _ -. CO VI Q 0 ,_ ea u) ? a) u call? L O_ ..�. n o CI - o «O F' o C C • C • = -v '1. 1 a) - 4. 2a`) N o 0 07 cc 2% 3- N' C 0 to O 'h r • Ea�w U)o'`°c. n .`C..y.. y= co o 12 C '.c)7... 'A0 y cc ,_ a) o ••- E E .- .. .. ;n J _:.�. a E m .O. N .. t0 o w N 71? -(11O`..1 O O aci ccwa : ••GJ:.t2 d o Q O- O m o m ct.-- _7 Z -R3 F - JUNE 3J, a) • N 0 o in in Q in 44 .4._7' o N a) • CI N c o ..-t o. .. S - o U � N _c a N H E m O O m -.-0 -. TAX YEAR TAX AREA J :. SCHEDULE NUMBER - ry fI"' -- L Y, CODE n Md NUMBER - I v DATE i`I r., .. .. i ACNAL VALUATION f PRIOR YEAR VALUE I I CURRENT YEAR VALUE I r . iI MILE.. 1 .- 4' 0 •• J - �. h 1 'T> C r7i1 y :oN 11 .. 1 —,y e N n_ « \3-'y \�\ Sct `e.lcv'i'i- \\Ju °�C �F),\Q No J 4 0 "1 4n } 7. \'111 \wC\E•-ttF. O`c Ce Ni \`ti�� g \ \,,7)N n 'J 1.3 r` ' T xtT 73 JG t r -a J1J 17 - T O. r — a •- i , - t i '4 J. ^ r -3 a _ t J Jl } re rat C y .y o u' Q a J J 1.-- Q _tu O.-- C :ice J 77 Z 77 r :i C q• -. tL REAL PROPERTY PROTEST FORM YOU MAY ELECT TO COMPLETE THIS FORM TO PROTEST YOUR PROPERTY VALUATION OR CLASSIFICATION. EAL PROPERTY VALUATION PROTESTS: If you disagree with the -current year actual value" or the ssif'cation determined for your property, you may file a protest by mail or in person witn the County sessor. Please refer to the Protest Procedures for the deadline dates for filing protests. mpleting the Real Property Questionnaire will help you determine an estimate of value for your property. rich can be compared to the value determined by the Assessor. Colorado law requires consideration of the arket approach to value for residential properties (includes apartments) and the cost, market, and income preaches to value for vacant land, commercial, and industrial properties. DOQ UMENTATION — REASON FOR R QUESTING A REVIEW et -5,1 terra//Seeeasr Of 6 /./%o / _fp. / Cent/2a led Yc, A&/rr/ice d.7.c&P 7i ei r Framz REAL PROPERTY QUESTIONNAIRE ATTACH ADDITIONAL DOCUMENTS AS NECESSARY ARKETAPPROACH: This approach to value uses sales from the appropriate time period to determine the • ual value of your property. The following items, if known, will help you estimate the market value of your >perty. Available, attach a copy of any appraisal or written estimate of value. ve similar properties in your immediate neighborhood sold? ,TE SOLD PROPERTY ADDRESS SELLING PRICE /p -7-9--//s//7F rice f /56 5-ev0 9-X7-92, /4c-,r&Cit. /O _L;G.7sro //-'9-9f /974r tJC4/O sed on these sales and accounting for differences between sold p �i Apenies and your property, state the value of your property. $ �d 9 ✓6 y DST APPROACH: (USE FOR NON-RESIDENTIAL PROPERTIES ONLY.) This approach to value uses tlacement construction costs from the appropriate time period to determine the value of your property. The lowing items, if known, will help you estimate the replacement cost of your property. 3r Built Builder Original Construction Cost :t all changes made to your property prior to January 1 of the current year, i.e.. remodeling of storefront; cansion of storage area; addition to parking, service or manufac'.uring area. TE DESCRIPTION OF CHANGE COST /341.5770 your structure in typical condition for its age? If not, why? sed on the original cost of construction and ------ - - -- . - ----- any changes, state the total value of your property $ COME APPROACH:. (USE FOR NON-RESIDENTIAL PROPERTIES ONLY.) This approach to value -warts economic net income from the appropriate time period into present worth. :our property was rented or leased, attach operating statements showing rental and expense amounts for s property. . - iicate square foot rental rate for all tenants who negotiated leases. (Attach rent schedule) :nown, list rents of comparable properties. - - available, -attach operating statements showing rental and expense amounts for comparable properties. an appraisal using the income approach was conducted, please attach. - NAL ESTIMATE OF VALUE S 3ENTASSIGNMENT: I authorize the below -named agent to act on my behalf regarding the property tax uation of the property described herein for the year - rents Name (please print): - Telephone Number: vner's Signature: _ Date: ease mail all correspondence regarding this protest to the above -named agent at the following address: iicate name and telephone number fora person the Assessor may contact if an on -site inspection is necessary: £RIFICATION: I. the undersigned owner or agent of this property, state that the information and facts con - 'red herein and on any attachment constitute true and complete statements concerning the described property. 3nature Date ry Time Phone Number: - Hello