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Home My WebLink About991920.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 1999, WELD COUNTY, COLORADO - DENY PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE PETITION OF: STARPAK INC 237 22 ST GREELEY, CO 80631 DESCRIPTION OF PROPERTY: ACCOUNT #: R2441086 PARCEL #: 095913400032 - GR 17567-E PT SE4 13 5 66 COMM SE COR OF SEC THENCE N89D43'W 2208.14' THENCE N01 D39'E 328.50' TO TRUE POB N01 D39'E 350' N88D20'W 97' S01 D39'W 350' THENCE S88D20'E 97' TO TRUE POB%2602 W 27 ST% 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 1999, 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 1999, claiming that the property described in such petition was assessed too high, as more specifically stated in said petition, and WHEREAS, said petitioner not being present or represented, 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 Weld County Board of Equalization, that the evidence presented at the hearing clearly supported the value placed upon the Petitioner's property, after review 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: ACTUAL VALUE AS DETERMINED BY ASSESSOR Land $ 90,579 Improvements OR Personal Property 318,061 TOTAL ACTUAL VALUE $ 408,640 991920 4� —�€--k 76�rc AS0043 RE: BOE - STARPAK INC Page 2 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; however, said appeal must be filed within 30 days of the denial: 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 IBAA 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) 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. 991920 AS0043 RE: BOE - STARPAK INC Page 3 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 3rd day of August, A.D., 1999. BOARD OF COUNTY COMMISSIONERS LD COUNTY, COL RAD ATTEST: G/// Dale K. all, Chair Wel. •.u1� = �•t Board EXCUSED JIG /++-i �� . , Barbara J. Kirkmeyer, Pro-Tern BY� ty rte. to and George B r APPR " le RM: M. J. eile istant e unty Attorne / v l% Glenn Vaad 991920 AS0043 JUL 13 '99 11 16 FROM WELD CO TREASURER TO 1022213035737050 PAGE.004%005 NOTICE OF DENIAL -6 OFFICE OF COUNTY ACSFSSOR IVP 1400 NORTH 17th AVE. GR 17567-E PT SE4 13 S 66 COMM SE ?'.'� GREFLEY.CO 80631 COR CF SEC THENCE N89D43'W 2208.14' THENCE N01D39'E 328 50' • _ PHONE(970j 353-1845,EXT.3650 TO TRUE POB N01D39'E 350' N88D20'W 97' S01D39'W 350' THENCE COLO ADO 588D20'E 97' TO TRUE 908%2602 W COLO ADO OWNER: STARPAK INC STARPAK INC LOG 2614 237 22 ST PARCEL 095913400032 ACCOUNT R2441086 GREELEY, CO 80631 YEAR 1999 06/30/1999 The appraised value of property is based 5n the appropriate consideration of the approaches to value required by law. The Assessor has dote pined that your property should be included in the following category(ies): COMMERCIAL PROPERTY IS VALUWD BY CONSIDERING TEE COST, MARKET, AND INCOME APPROACHES. If your concern is the anions of your property Ma,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 determination of value are: NO CHANGE HAS SEEN MADE TO THE VALUATION OF THIS PROPERTY. COLORADO LAW REQUIRES US TO SEND THIS NOTICE OF DENIAL FOR ALL PROPERTIES ON WHICH WE DO NOT ADJUST THE VALDNE. PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE OF VALUE ACTUAL VALUE ACTUAL VALUE PRIOR TO REVIEW Al'1ER REVIEW LAND 90579 90579 IMPS 318061 318061 TOTALS $ 5 408640 $ 408647 If you disagree with the Assessor's decision,you have the right to appeal to the County Board of Equalization for further consideration,395 1060Xs),CAS. Please see the back of this form for detailed information on tiling your appeal. Stanley V.Sessions 06i 30/1999 By: WELD COUNTY ASSESSOR DATE 15-DPf-AA Form PR-207-57/99 ADDITIONAL INFORMATION ON REVERSE SIDE JUL. 0.1959 4:a5RM CPRMU_ CO :NC NO.-"42 P.2/7 YOU HAVE THE RIGHT TO APPEAL TI-IF ASSESSOR'S DECISION TheThe County�d of.Equalization ro will sit to hear appeals beg p jory. (land and buildings) and personal aropenty beginning a July 1 and continuing through 04,and 5 for real 10 i((), C.R.S. {f3rnishin2s, machine..-y, and equipment) ,9-3-104 39-3- APPEAL PRO/^x D1jp,p5 If you choose to appeal the Assessor's decision. You must appeal to the County Board of Equalizaton. To oreserye your right to appeal, your appeal must be POST).:LRICED OR DELIVERED ON OR BEFORE JULY 15 FOR REAL PROPERTY„AND JULY 20 FOR PERSONAL PROPERTY, WELD COUNTY BOARD OF EQUALIZATION 9I5 10th Street, P.O. Box 753 Czeelev, Colorado 30632 Telephone (970)356-4000 Ext. 4225 NOTIFICATION or REARING: You will be notified of the dine and place set for the hearing of your appeal. COUV'TY BOARD OF T'01 AIJZ, TION'S DFTERVIINATTON The County Board of Equalization must make a decision on your appeal and mail you a determination within five business days of that decision. The County Board must conclude their heariazs by August 5. YPAYER RI( iTSFS FOR FLTMW.ER ALS I#you are not satisfied with tn= County Boam of Earnlization's decision you must rue within thifty days 515 the County Board of Equalization's written decision with ONE of the following: .Board of Contact the BA. . at 1_1 Sherman, Room 313. DAssessment enver,,. e, Color do 30203, 303)866-5830. District Court: 9th Avenue and 9th Street, P.O. Box C Greeley, Colorado 80632 Telephone (970) 356- 000, 4520 Arbitration: WELD COUNTY BC. ;2D OF EQUALIZATION 915 10th Street, P.O. Box 758 Greeley, Colorado 30632 Telephone C970) 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 10. TO PRESERVE YOUR APPEAL RIGHTS, YOU VII:ST PROVE YOU HAVE FILED A TIMELY APPEAL; EFORE,THER WE RECO1MMEND ALL CORRESPONDENCE' BE MAILED,WITH PROOF Oh'.V ILI G:"- - - - 'IT.EON TO THE CCCNfl BOARD OF EQLAL1ZATION -- In the space below,please xtplap why you disaeree with the Assessor's valuation. IN ACCORDANCE WITH 39- 8-106, C RS., YOL MUST STATE YOUR OPNION OF VALUE IN TERMS OF A SPECIFIC DOLLAR AMOUNT. Attach additional documents as necessary. `-�cc 6;oC� Coll 'J= �l Gt t)It--(1- --1 4A--CSC c 00 BRIDGE & ASSOCIATES -�_ 820 SIMMS ST. SUITE 12 --(e Eon-41,S ; Stanley F. Sessions WELD COUNTY ASSESSOR CHRISTOPHER WOODRUFF, DEPUTY ASSESSOR APPRAISAL REPORT OF COMMERCIAL PROPERTY FOR County Board of Equalization STARPAK INC PETITIONER vs. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 0959-13-4-00-032 & 044 Schedule Number: R2441086 & R0167791 Log Number: 2614 & 3019 Date: 8-3-99 Time: 2:30 Board: CBOE PREPARED BY STAN JANTZ ,' i S- 3 ` 99 Signature Date Signature Date ASSESSOR'S OFFICE STAFF APPRAISER ��. r4.�..:`` .r .x;.. _ �. �1 T ra VI t, >1 , ssi O 1 ,i,ilt) P •'•.7., i ri ,.., _, 1,__ ,. y (;. o I. 1 jL4 cii,* .... ,, , „ 14, !.4 Ai 1! 1%. ® ,,.. ,, •1 11* i _`.'*-,,,k' •0.1•41„,.,.#00. + .�'ly •a r,'�. V -� 1� Lis IBA. S 1 1 1 0 GIft I II ... 1.1 '.''.i I V.: 0 , `, { 140 `` Q A t 1 r Ian x 41" Liti.T..,_ t '>'. 9.-. • Y'ii 1 41! ns ,ic.,,,,4 •�J 'r _ie qty10 ii.'�tr �`r1. ,•,h I ='.:�a1 �'a ..��MY.' ` • � CAI till. S i t,�,. , r`4 1 A14'� i ,I. ri tit . �.. .. ' 11s� 6;Ly jjj777�aaa�a i 4 3 :_ t..y • hr y�•• • F �J �l �yr .J.Zi'•.i:;r`N1S Hd� yr i:::.4 `.1,..i•M 0'..tS l y; •y`f,.Irt Itirtj i/!.! • ' .:Ap: (N J,,• *` .Filet ` ;at*y <'�i •7 1�' f{S5 p ax r ilk t«`' e.' , R ii4 .. ,. cr f . 1 ,,,mac { i Y4 cjj ! t.;i9' .fd: Eu '- ", cn0 . SALIENT FACTS AND CONCLUSIONS Purpose of Appraisal To determine Market Value as of 1/1/99 based on an appraisal date of 6/30/98. Property Rights Appraised Unencumbered fee simple interest. Location 2602 W. 27 ST GREELEY Land Area 63,235 Square Feet Zoning GRE CH Property Type Commercial 1— Office Building Year Built 1982 Year Remodeled 1991 Quality Average Class Masonry Number of Stories 2 Improvement Sq. Ft. 10,216 Basement Unfinished Sq. Ft. Basement Finished Sq. Ft. Mezzanine: Value Indications: Land 168,711 Cost Approach 486,772 Market Approach 506,300 Income Approach 495,000 Reconciled 500,000 Final Value 486,772 2 WELD COUNTY ASSESSOR Account#: R2441086 PROPERTY PROFILE Parcel #: 095913400032 MH Seq#: MH Space: Appr Year: 1999 Levy: 91.113 #of Bldgs: 1 Active On: Tax Dist: 0600 Map #: LEA: GRLY79 InactiveOn: Assign To: SGJ Initials: TST Acct Type: Commercial Last Updated: 7/19/99 Owner's Name and Address: Property Address: Il STARPAK INC; ! Street: 2602 W 27 ST 237 22 ST III City: GREELEY GREELEY CO 80631 I Business/Complex: Sales Summary Sale Date Sale Price Deed Type Reception # Book Page Grantor 3/30/93 $150,000 02327432 1376 NORWEST BANK CHERRY CREEK '5/31/91 $250,000 02257731 1306 KADLECEK JAMES M & LINDA L Legal Description GR 17567-E PT SE4 13 5 66 COMM SECOR OF SEC THENCE N89D43'W2208.14'THENCE NO1 D39'E 328.50'TO TRUE ROB N01 D39'E 350'N88D20'W 97'S01 D39'W 350'THENCES88D20'E 97'TO TRUE POB%2602 W27 ST% I Land Valuation Summary _ Abst Unit of Number Of Value Per Assrnt 'Assessed I I!,Land Type Ag Code Code Measure Units Unit Actual Value Percent Value Commercial 2120 Square Feet 33950 $2.67 $90,579 29.00% $26,268 Ftrco .WcCIP7 `77 a�,ses 2.6i 7g,r3 2 I Land Subtotal: 33950 $9037-9:00- $26,270.00 I 6 ,:;;7-: /64,7/1 I Buildings Valuation Summary _ Abst Actual Assmt *Assessed I Bldg # Property Type Code Occupancy Value Percent Value 1 Commercial 2220 344 - Office Building $318,061 0.29 $92,238 Improvements Subtotal: $318,061.00 $92,240.00 Total Property Value $408,640 $118,510 c,q/.O,-ri PP`A roximate Assessed Value Monday, August 02, 1999 3 COMPARABLE OFFICE LEASES ADDRESS TENANT BUILDING : : . RENT RATE.: AREA LEASED #1 4302 W.9 ST RD UNITED STATES 8,192 5.45 NNN GREELEY, CO GOVERNMENT #2 1221 28 AVE MULTIPLE 6,000 5.18 NNN GREELEY, CO TENANTS #3 25011AVE WBOCED 7,568 4.78N-NN GREELEY, CO ESTIMATED INCOME APPROACH GROSS BUILDING SQ. FT. 10,216 NNN LEASE RATE 5.10 INCOME 52,102 LESS 5% MANAGEMENT& RESERVES 2,605 NET OPERATING INCOME 49,497 CAPITALIZATION RATE 10% INCOME VALUE 494,970 SUBJECT VALUE ESTIMATED BY THE INCOME APPROACH 495,000 M\W PFILESICOMME.RCL\PROTES1 S\STARPK48 SGJ 4 OFFICE SALES ADDRESS SALE SALE GROSS PRICE PER DATE PRICE SQUARE SQ. FT. FEET SUBJECT 10,126 2602 W. 27 ST GREELEY, CO #1 2505 1 AVE 1/29/97 420,000 7.568 5'5.50 GREELEY, CO #2 2021 CLUBHOUSE DR. 4/4/94 625,000 10,000 62.50 GREELEY, CO 03 815 14 ST 4/1/94 257.000 8960 32.03 GREELEY, CO THE AVERAGE FOR ALL THREE COMPARABLE SALES IS 50.01 PER SQUARE FOOT. MARKET CALCULATION $50.00 TIMES SUBJECT SQUARE FOOTAGE 10,126 = 506,300 5 COMPARABLE SALE I '.. k?. - - PIN#, 3560986 PARCEL #: 096117401018 PRIMARY OCCUPANCY: OFFICE OFFICE: 2ND OCCUPANCY: ADDRESS: 2505 1 AVE GREELEY PROJECT: BOOK #: 1590 SALE DATE: 01/29/97 RECEPTION #: 2531863 SALE PRICE: $420,000 ADJ SALE PRICE: GRANTOR: CORNERSTONE & MATCHLESS MILLWORK GRANTEE: CONSERVATORY BUILDING YEAR BLT: 1984 EFFECTIVE AGE: LAND/BLDG RATI 16.48 BLDG SIZE: 7,568 IMPS PRICE/PSF: $44.99 CLASS: C SALE PRICE/PSF: $55.50 CONSTRUCTION-QUAL: AVG CASH DOWN: $52,500 WALL HEIGHT: 13 LOAN: NEW STORIES: 1 INTEREST RATE: 9.8% BSMT SIZE: LOAN TERM (YRS) 20 LAND SIZE: 124,756 POINTS PAID: LAND VALUE: 79,532 REMARKS: THE SUBJECT SALE INVOLVES A BUSINESS AFFILIATION TRANSACTION BETWEEN GRANTOR & GRANTEE. GRANTOR IS NOW A PARTNER IN THE CONSERVATORY BLDG LLC. THE SALES PRICE IS WHAT THE LLC BELIEVES THE TRUE MARKET VALUE OF THE SUBJECT TO BE. 6 COMPARABLE SALE 2 6 i PIN: 2532086 PARCEL # : 95915203001 OCCUPANCY: OFFICE ADDRESS: 2021 CLUBHOUSE DR GREELEY PROJECT: 0 SALE DATE: 04/04/94 BOOK #: 1435 SALE PRICE: $625,000 RECEPTION # : 2382079 ADJ SALE PRICE: GRANTOR: NELSON, HALEY , PATTERSON & QUIRK GRANTEE: CLUBHOUSE DRIVE LLC YEAR BLT: 1962 LAND/BLDG RATIO: 5.40 BLDG SIZE: 10,000 IMPS PRICE/PSF: $54 . 40 CLASS: D SALE PRICE/PSI': $62.50 CONSTRUCTION-QUAL: AVG CASH DOWN: $156, 250 WALL HEIGHT: 10 LOAN: NEW STORIES: 1 INTEREST RATE: 7 .8% BSMT SIZE: 9600 LOAN TERM (YRS) : 10 LAND SIZE: 54 ,000 POINTS PAID: 0 LAND VALUE: 81,000 REMARKS: BASEMENT UNFINISHED STORAGE. WOL 2532186, 2532586. 7 COMPARABLE SALE 3 .. .. , : ,-7', . aL.,404tAite AiPtk41M 1! ` r q M ,kiiiiill--- ' ;; K , r�F�dt a. t R� fr PIg: 3251986 PARCEL # : 96108215014 OCCUPANCY: OFFICE ADDRESS: 815 14 ST GREELEY PROJECT: 0 SALE DATE: 04/01/94 BOOK # : 1435 SALE PRICE: $287 , 000 RECEPTION # : 2382302 ADJ SALE PRICE: GRANTOR: BENSLER WM GRANTEE: TORMEY BEWLEY CORP YEAR BLT: 1972 LAND/BLDG RATIO: 1. 12 $29 . 8BLDG SIZE: 8,960 IMPS PRICE/PSF: SALE PRICE/PSF: $32 . 033 CLASS: D CONSTRUCTION-QUAL: AVG CASH DOWN: $287 , 000 WALL HEIGHT: 14 LOAN: 0 STORIES: 1 INTEREST RATE: 0 . 0% BSMT SI2E: 0 LOAN TERM (YRS) : 0 LAND SI2FE: 10 , 000 POINTS PAID: 0 LAND VALUE: 20 ,000 REMARKS: MAIN LEVEL 7 ,644 SF, LOWER LEVEL 1,316 SF AND PARKING BENEATH BLDG. 8 Hello