HomeMy WebLinkAbout20212215.tiffFrom: Alex Powell
To: Millie Channell; CTB-County Board of Equalization
Subject: Re: Home Depots R5026708 and R8403700
Date: Friday, July 30, 2021 9:47:20 AM
Attachments: image001.jpg
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I would like to request an administrative denial on the above two accounts.
Thanks,
Alex
Alex Powell, CMI
Director, Property Tax
Altus Expert Services, Altus Group
Alex.Powell@altusgroup.com I www.altusgroup.com
M: 817.680.8684
1807 Keller Parkway, Suite 100
Keller, TX 76248
Altus Group is a leading provider of commercial real estate advisory services, software and data solutions.
From: Millie Channell <mchannell@weldgov.com>
Sent: Friday, July 30, 2021 10:45 AM
To: Alex Powell <alex.powell@altusgroup.com>
Subject: Home Depots R5026708 and R8403700
CAUTION: This email originated from outside this organization. Do not click links or
open attachments unless you can confirm the sender and know the content is safe.
Hi Alex,
If you wish to file an administrative denial, then please send an email to weld-cboe@co.weld.co.us
or reply to this email and I will forward your intent to the Clerk to the Board.
Thanks,
Millie
JI U Wie CI anneUU
Property Appraiser
Commercial Division
Weld County Assessor's Office
(970) 400-3685
mchannell@weldgov.com
lig
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NOTICE OF DETERMINATION
RECEIVED
Brenda Dones
Weld County Assessor
1400 N 17th Ave
Greeley, CO 80631
JUL 2 0 2021
WELD COUNTY
COMMISSIONERS
Date of Notice: 6/30/2021
Telephone: (970) 400-3650
Fax: (970) 304-6433
Office Hours: 8:O0AM - 5:OOPM
ACCOUNT
NO.
TAX
YEAR
TAX
AREA
LEGAL
DESCRIPTION/
PHYSICAL
LOCATION
R5026708
2021
2556
FIR 1 FCC
10858 JAKE
L1 FIRESTONE
JABS
BLVD
FIRESTONE
CITY
CENTRE
FG #1
PROPERTY OWNER
HOME DEPOT
PO BOX 105842
ATLANTA,
GA 30348-5842
.
. ' PIPERTY CLASSIFICATION
ASSESSOR'S VALUATION
ACTUAL
VALUE
PRIOR
TO
ACTUAL
VALUE
AFTER
REVIEW
REVIEW
COMMERCIAL
8,580,000
8,580,000
TOTAL
8,580,000
8,580,000
The Assessor has carefully studied all available information, giving particular attention to the
specifics included on your protest. The Assessor's determination of value after review is based on
the following:
The law requires that data from Jan 2019 to June 2020 be used to establish current values. We
have considered all three approaches to value and we have denied your appeal based upon this
data.
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.
The deadline for filing real property appeals is July 15.
The Assessor establishes property values. The local taxing authorities (county, school district, city,
fire protection, and other special districts) set mill levies. The mill levy requested by each taxing
authority is based on a projected budget and the property tax revenue required to adequately fund
the services it provides to its taxpayers. The local taxing authorities hold budget hearings in the fall.
If you are concerned about mill levies, we recommend that you attend these budget hearings.
Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities.
Please refer to the reverse side of this notice for additional information.
Agent (If Applicable):
ALTUS GROUP US INC
PO BOX 92129
SOUTHLAKE, TX 76092-0102
15-DPT-AR
PR 207-08/13
R5026708
2021-2215
Aso 169
Z502 (0.70c6,
APPEAL PROCEDURES
County Board of Equalization Hearings will be held from
July 26th through August 5th at 1150 O Street.
To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown
below, and mail, file online, or deliver a copy of both sides of this form to:
Weld County Board of Equalization
1150 O Street, P.O. Box 758
Greeley, CO 80631
Telephone: (970) 356-4000 ext, 4225
Online: www.co.weld.co.us/appsl/cboe1
To preserve your appeal rights, your Petition to the County Board of Equalization must be
postmarked or delivered on or before July 15 for real property — after such date, your right to
appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we
recommend that all correspondence be mailed with proof of mailing.
You will be notified of the date and time scheduled for your hearing. The County Board of
Equalization must mail a written decision to you within five business days following the date of the
decision. The County Board of Equalization must conclude hearings and render decisions by August
5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and
you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by
September 10, § 39-2-125(1)(e), C.R.S.
If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your
appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of
the following:
Board of Assessment Appeals
1313 Sherman Street, Room 315
Denver, CO 80203
(303) 866-5880
www.dola.colorado.gov/baa
Binding Arbitration
For a list of arbitrators, contact the County Commissioners at the address listed for the County Board
of Equalization.
If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document
falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed
on the next business day, `\ 39-1-120(3), C.R.S.
District Court
Contact the District Court in the County
where the property is located. See your
local telephone book for the address and
telephone number.
PETITION TO COUNTY BOARD OF EQUALIZATION
What is your estimate of the property's value as of June 30, 2020? (Your opinion of value in terms of a
specific dollar amount is required for real property pursuant to § 39-8-106(1.5), C.R.S.)
$ 7,650,000
What is the basis for your estimate of value or your reason for requesting a review? (Please attach
additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent roll, original
installed cost, appraisal, etc.)
See attached model based upon income, sales and cost.
ATTESTATION
I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein
and o an • • • men hereto are true and complete.
Signature /
alex.powell@altusgroup.com
817-680-8684
Telephone Number
Email Address
'Attach letter of authorization signed by property owner.
7/14/2021
Date
Please schedule after 7/28 due to previously scheduled
hearings if possible.
Altus Group US Inc.
P.O. Box 92129
Southlake, TX 76092
alex.powell@altusgroup.com
15-DPT-AR
PR 207-08/13
R5026708
Altus 3roup
Certified Mail #: 7019 2970 0002 1131 0692
RECEIVED
July 14, 2021
Weld County
Board of Equalization
1150 O Street
Greeley, CO 80631
RE: Summary of the 2021 Appeals
Dear Board of Equalization,
JUL 202021
WELD COUNTY
COMMISSIONERS
The following is a summary -of the 2021 Petition to the County Board of Equalization that we are filing within
your jurisdiction:
Account #(s):
R8403700 HD Development of Maryland Inc % Home Depot USA Inc 281535th Ave
if R5026708 Home Depot 10858 Jake Jabs Blvd
If you have any questions, please don't hesitate to contact our office.
Sincerely,
Alex Powell
Alex.powell@altusgroup.com
817-680-8684
Altus tSei vices
EXPERIENCE I INDEPENDENCE I INSIGHT
1807Keller Pkwy
Suite 100
Keller, TX 76248
T: 817-251-6666 I E: info(waltusgroup. com
S
AltusGroup
2021 REAL PROPERTY TAX APPEAL
State & Local Tax
REAL PROPERTY TAX VALUATION PACKAGE
Large Big Box Retail Store
Property Name:
Address:
City, State:
Jurisdiction:
Account Number(s):
Home Depot
10858 Jake Jabs Blvd,
Firestone, CO
Weld County
R5026708
Valuation Date As Of: June 30, 2020
1807 Keller Parkway, Suite 100, Keller, TX 76248
817-552-6815
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AltusGroup
Table of Contents
VALUATION TERMS AND CONCEPTS 2
THE THREE APPROACHES TO VALUE 3
PROPERTY CHARACTERISTICS 4
SUMMARY OF VALUES 5
LARGE BIG BOX RETAIL STORE LAYOUTS 6
WHY ARE ALL BIG BOX RETAIL STORES DIFFERENT? 7
EXTRA FEATURES OF LARGE BIG BOX STORES 7
THE COST APPROACH8
THE INCOME APPROACH 10
THE SALES COMPARISON APPROACH 11
SUMMARY OF VALUES CONCLUSION 12
1807 Keller Parkway, Suite 100, Keller, TX 76248 Page I 1
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VALUATION TERMS AND CONCEPTS
Market Value:
The most probable price, as of a specified date, in cash or in terms equivalent to cash, or in other precisely revealed
terms, for which the specified property rights should sell after reasonable exposure in a competitive market under
all conditions requisite to a fair sale, with the buyer and seller each acting prudently, knowledgeably, and for self-
interest, and assuming neither is under undue duress.
Fee Simple:
Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the
governmental powers of taxation, eminent domain, police power, and escheat.
Leased Fee:
A freehold (ov✓nership interest) where the possessory interest has been granted to another party by creation of a
contractual landlord -tenant relationship (i.e., a lease).
1807 Keller Parkway, Suite 100, Keller, TX 76248
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THE THREE APPROACHES TO VALUE
There are three traditional methods used in the valuation of real estate, which are the cost approach, sales
comparison approach, and income capitalization approach. Each of these different valuation techniques has its
strengths and weaknesses and the favorable approach usually depends on the availability of market data as to
replacement costs, market sales, market leases, and the type of property being evaluated.
Cost Approach:
Assumption that a buyer would pay no more than the cost of constructing an acceptable substitute.
Income Capitalization Approach:
Assumption that a buyer would pay no more than the amount required to obtain an equivalent income stream.
Sales Comparison Approach:
Most probable price one would expect to pay or receive for the subject property based on fee simple sales of similar
properties.
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PROPERTY CHARACTERISTICS
PROPERTY
INFORMATION
Property
Name
Depot
Home
Site
Address
10858 Jake
Jabs
Blvd
City,
State
Firestone,
CO
County
Weld
Parcel
/ Account
Number(s)
R5026708
Land
Square
Foot Area
474,368
Land
Acres
10.89
Property
Big
Box
Type
Retail
Property
Design
Warehouse
Discount
Store
Year
Built
2009
Age
12
Years
Effective
Gross
Building
Area
107,268
Net
Leasable
Area
104,868
Date
of
Valuation
June
30, 2020
illiiiiiille
Land
Value
$1,850,000
Cost Approach
$7,800,000
Income
Approach
$7,270,000
Sales
Approach
$7,600,000
Opinion
of
Value
$7,800,000
1807 Keller Parkway, Suite 100, Keller, TX 76248 Page 14
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SUMMARY OF VALUES
ASSESSOR'S
PROPOSED VALUES ---
Land
Value
$1,896,777
Improvement
Value
$6,683,223
$8,580,000
Total
Market
Value
AfIAPELLAWS
REQUeSTED
VALUES
- - - -_
Land
Value
$1,850,000
Improvement
Value
$5,950,000
Total
Market
Value
$7,800,000
1807 Keller Parkway, Suite 100, Keller, TX 76248 Page 15
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AltusGroup
LARGE BIG BOX RETAIL STORE LAYOUTS
Home Depot
Costco
Lowe's
Sam's Club
tar -sr -fak
Walmart Target
nit
I
1807 Keller Parkway, Suite 100, Keller, TX 76248
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WHY ARE ALL BIG BOX RETAIL STORES DIFFERENT?
HOME DEPOT
WALMART
SAM'S CLUB
LOWE'S
TARGET
COSTCO
EXTRA FEATURES OF LARGE BIG BOX STORES
Home Depot
Lowe's
Costco
Sam's
Club
Target
Walmart
Vinyl
Flooring
X
X
X
X
✓
✓
Drop Down Ceilings
X
X
X
X
✓
✓
Painted/Finished
Walls
X
X
✓
✓
I
✓
Restaurants
X
X
✓
✓
✓
Deli
X
X
✓
✓
Meat
Department
X
X
✓
Bakery
i
X
X
✓
Refrigerated
Aisles
X
X
I
Pharmacy
X
X
Eye Center
X
X
Tire Shop
X
X
J.
Gas Pumps
X
X
Garden Center
✓
✓
X
Overall
Rank:
Low/Avg
Average
Average
Avg/High
Avg/High
Low/Avg
*This analysis is based on the average store's finish out. Not all stores are built exactly the same.
1807 Keller Parkway, Suite 100, Keller, TX 76248
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THE COST APPROACH
MARSHA SWIFT - COST DETAILS OF BUILDING
Property Name:
Address:
City, State:
County:
Year Built:
Land Acres:
Gross Building Area:
Property Type:
Occupancy:
Occupancy Code:
Class:
Quality:
Section:
Page:
Home Depot
10858 Jake Jabs Blvd
Firestone, CO
Weld
2009
10.89 Acres
107,268 SF
Big Box Retail
Warehouse Discount Store
458
C
Average
13
28
Effective Age: 12 Years
Land Sq. Ft.: 474,368 SF
Net Leasable Area: 104,868 SF
Cost Updated As Of:
Heating & Cooling:
Climate Adj:
Wall Height:
Bldg. Perimeter:
Estimated Life:
Date Of Valuation:
May -20
Package A.C.
Mild
22 Ft.
1,384
30 Years
January 1, 2021
(Cost Evidence Attached To Back Of Report)
1807 Keller Parkway, Suite 100, Keller, TX 76248
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alb
MARSHALL
&
SWIFT
VALUATION
SERVICE
COST
SCHEDUL
Property
Warehouse
Discount
Store
(458)
Type
Section
/
Page
Sect:
13
/
Page: 28
Cost
Updated
As Of
May,
2020
Date of
Valuation
January
1, 2021
Construction
Quality
Average
Class
C
Component
Sq.
Ft.
104,868
Base
Cost
Per
Square
$55.00
Foot
Square
Foot
Multipliers
Sprinklers
$2.36
$5.58
Heating/Cooling
Subtotal
$62.94
Construction
Multipliers
Multiplier
22
1.213
Ft.
Height
Area
/
Perimeter
Multiplier
1,384
0.799
Current
Cost
Multiplier
1.050
Local
Multiplier
1.010
Final
Base
Cost
Per Square
$64.67
Foot
Building
Cost
$6,781,947
Base
Site
Improvements
Rate
SF
Parking
Area
$3.23
266,540
$861,874
Canopy/Mezzanine
Area
$12.93
9,483
$122,656
Other
Area
$3.23
46,251
$149,556
Site
Improvements
$125,000
$125,000
Extra
Total
Site
Improvements
$1,259,085
Building
& Site
Imp.
Costs (Rounded)
$8,041,000
Total
COST APPROACH
CONCLUSION
Improvement
Value
Depreciation
$8,041,000
Total
Before
Accrued
Depreciation
Physical
Depreciation
-26%
($2,090,660)
Functional
Obsolescence
0%
$0
Obsolescence
0%
$0
Economic
Accrued
Depreciation
($2,090,660)
Total
Depreciated
Replacement
Cost
$56.74/sf
$5,950,340
Land
Value
$3.90/sf
$1,850,000
Estimated
Indicated
As
Is Total Value
$7,800,340
Indicated
As
Is
Value
(Rounded)
$7,800,000
Total
Value
Per
SF
$74.38
* Cost Approach is using cost data straight out of the Marshall & Swift Cost Valuation book and all data is updated to the current date of
valuation
1807 Keller Parkway, Suite 100, Keller, TX 76248
817-552-6815
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AltusGroup
THE INCOME APPROACH
INCOME PRO FORMA
Property Name:
County:
Address:
Property Type:
Home Depot
Weld County
10858 Jake Jabs Blvd
Warehouse Discount Store
Year Built:
Land Acres:
Gross Area:
Net Leasable:
2009
10.89
104,868 SF
104,868 SF
Gross Potential Income
Other Income 1
Other Income 2
Total Income
Less
Vacancy
Credit Loss
Effective Gross Income
Less
Operating Expenses
Reserves
Net Operating Income
Market Capitalization Rate
Effective Tax Rate
Overall Capitalization Rate
Stabilized Value
Less: Excess Land
Area Rate
104,868 $7.25
10.0%
15.0%
8.00%
0.00%
$
$
$
Total Value
760,293
MIS
$ 760,293
$
$
(76,029)
$ 684,264
$
$
(102,640)
8.00%
$ 581,624
7,270,302
$/sf
7.25
0.00
0.00
7.25
-0.73
0.00
6.53
-0.98
0.00
5.55
69.33
2021 Market Value Rounded
$ 7,270,000 or
69.33
*The Income Approach is based off available lease comps and contains both current asking rates and confirmed lease rates.
*The rents have been adjusted for this specific property's market by adjusting for the building's size, location, and condition.
1807 Keller Parkway, Suite 100, Keller, TX 76248
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THE SALES COMPARISON APPROACH
LIST OF CO
M
PARABkE SA
-
Sale
Property
Name
Address
City, State
County
Sale
Date
Sale
Price
1
Kmart
2665 W Eisenhower
Blvd
Loveland,
CO
Larimer
4/28/2020
$4,949,001
2
Centennial Marketplace
550 S
McCaslin
Blvd
Louisville,
CO
Boulder
1/29/2020
$6,995,000
3
Kohl's
813
E
Harmony
Fort Collins, Co
Larimer
10/18/2019
$12,326,600
4
At
Home
955 S Hover
St
Longmont, CO
Boulder
3/18/2019
$6,750,000
5
At
Home
1660
W
Midway
Blvd
Broomfield, Co
Broomfield
8/5/2016
$8,518,600
SALE ADJUSTMENTS
IQ EQUAL
SUBJECT
PROPERTY
,ALE 1 All
SALES
I SALE 3 aait SALE 4 4:
SALE 5
qt 1EDIAN
Property
Name:
Kmart
Centennial
Kohl's
At Home
At Home
Marketplace
Acres
7.85
13.15
9.55
8.76
11.22
9.55
Bldg.
SF
91,191
128,653
105,514
97,829
117,202
105,514
Year
Built
1980
1999
2007
1993
/ 2019
1995
1997
Sale
Info:
Sale
Date
4/28/2020
1/29/2020
10/18/2019
3/18/2019
8/5/2016
Sale
Price
$4,949,001
$6,995,000
$12,326,600
$6,750,000
$8,518,600
Sale
$0/SF
$54.27
$54.37
$116.82
$69.00
$72.68
$69.00
Adjustments:
% Ad
i
$/SF
% Ad
$/SF
% Ad
i
$/SF
°/0 Ad
i
$/SF
% Ad
i
$/SF
% Adi
Size
5%
$2.71
0%
$0.00
0%
$0.00
0%
$0.00
0%
$0.00
0%
Location
5%
$2.71
5%
$2.72
-15%
-$17.52
5%
$3.45
0%
$0.00
5%
Condition
10%
$5.43
0%
$0.00
-15%
-$17.52
0%
$0.00
0%
$0.00
0%
Total
Adj:
20%
$10.85
5%
$2.72
-30%
-$35.05
5%
$3.45
0%
$0.00
5%
Adj
Sale
Price:
$5,938,801
$7,344,750
$8,628,620
$7,087,500
$8,518,600
Adj
Sale
$/SF:
$65.12
$57.09
$81.78
$72.45
$72.68
$72.45
MMARYOF SALES COMPARISON APPRtletCH
Subject's Area
104,868
Avg Sale $ISF:
$72.45
Total Indicated Value
$7,597,460
Total Value (Rounded):
$7,600,000
*Leased Fee sales tend to be much higher than the fee simple market value sales due to current leases in place.
*Market value is based on fee simple interest and would indicate a lower value if leased fee sales were adjusted downward for current
lease terms.
1807 Keller Parkway, Suite 100, Keller, TX 76248 Page 111
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SUMMARY OF VALUES CONCLUSION
u... SUMMARY
OF
MARKET
VALUES 1111M11.10
INDICATED
Income
CURRENT
2021
Cost
Sales
Proposed
Approach
Comparison
Capitalization
YEAR
MARKET
VALUES
Value
Approach
VALUES
(County)
Approach
Total
Per SF
$8,580,000
Total
$81.82
Per
SF
$7,800,000
$7,270,000
$7,600,000
$74.38
$69.33
$72.47
-- REQUESTED MARKET VALUE
aluation
Method
Selected
Date of
Value
2021 Total
Value $/Sq. Ft:
COST APPROACH:
June
30,
2020
$7,800,000
$74.38
INDICATED
VALUE
(ROUNDED):
57,80a,0sv
$74.38
(Additional Evidence Attached)
1807 Keller Parkway, Suite 100, Keller, TX 76248 Page 112
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_JO Box 92129
authlake, TX 76092
•
i
i
i
7019 2970 0002 1131 0692
FIRST• CLASS
4
02 7H
s°WES
riteradrar
Kiev =Tr US POSTAGE
$ 009.05°
0001246652 JUL 15 2021
MAILED FROM.ZIP CODE 76248
/&o\ CU SOak DCquoilakykivi
1\6D Wee,+-
Giff\l) C)). WQS\
July 20, 2021
Petitioner:
HOME DEPOT
PO BOX 105842
ATLANTA, GA 30348-5842
CLERK TO THE BOARD
PHONE (970) 400-4226
FAX (970) 336-7233
WEBSITE: www.weldqov.com
1150 O STREET
P.O. BOX 758
GREELEY CO 80632
Agent (if applicable):
ALTUS GROUP US INC
ALEX POWELL AND/OR DYLAN
BEDFORD
PO BOX 92129
SOUTHLAKE, TX 76092-0102
RE: THE BOARD OF EQUALIZATION 2021, WELD COUNTY, COLORADO
NOTIFICATION OF HEARING SCHEDULED
Docket 2021-2215, AS0109 Appeal 2008230336 Hearing 8/4/2021 10:00 AM
Account(s) Appealed:
R5026708
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of August 4, 2021, at or about the hour of
10:00 AM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld
County Administration Building, Assembly Room, 1150 0 Street, Greeley, Colorado.
You have a right to attend this hearing and present evidence in support of your petition. The Weld
County Assessor or his designee will be present. 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, 2021, and mailed to
you within five (5) business days.
Because of the volume of cases before the Board of Equalization, most cases shall be limited to 10
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.
If you wish to discuss your value with the Assessor's Office, please call them at (970) 400-3650. If
you wish to obtain the data supporting the Assessor's valuation of your property, please submit a
written request directly to the Assessor's Office by emailing assessor@weldgov.com or sending a
fax to (970) 304-6433. Upon receipt of your written request, the Assessor will notify you of the
estimated cost of providing such information. Payment must be made prior to the Assessor
providing such information, at which time the Assessor will make the data available within three (3)
working days, subject to any confidentiality requirements.
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
Esther E. Gesick
Clerk to the Board
Weld County Board of Commissioners
and Board of Equalization
cc: Brenda Dones, Assessor
July 20, 2021
Agent: Petitioner:
ALTUS GROUP US INC
ALEX POWELL AND/OR DYLAN
BEDFORD
PO BOX 92129
SOUTHLAKE, TX 76092-0102
CLERK TO THE BOARD
PHONE (970) 400-4226
FAX (970) 336-7233
WEBSITE: www.weldgov.com
1150 O STREET
P.O. BOX 758
GREELEY CO 80632
HOME DEPOT
PO BOX 105842
ATLANTA, GA 30348-5842
RE: THE BOARD OF EQUALIZATION 2021, WELD COUNTY, COLORADO
NOTIFICATION OF HEARING SCHEDULED
Docket 2021-2215, AS0109 Appeal 2008230336 Hearing 8/4/2021 10:00 AM
Account(s) Appealed:
R5026708
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of August 4, 2021, at or about the hour of
10:00 AM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld
County Administration Building, Assembly Room, 1150 O Street, Greeley, Colorado.
You have a right to attend this hearing and present evidence in support of your petition. The Weld
County Assessor or his designee will be present. 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, 2021, and mailed to
you within five (5) business days.
Because of the volume of cases before the Board of Equalization, most cases shall be limited to 10
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.
If you wish to discuss your value with the Assessor's Office, please call them at (970) 400-3650. If
you wish to obtain the data supporting the Assessor's valuation of your property, please submit a
written request to assessor@weldgov.com. Upon receipt of your written request, the Assessor will
notify you of the estimated cost of providing such information. Payment must be made prior to the
Assessor providing such information, at which time the Assessor will make the data available within
three (3) working days, subject to any confidentiality requirements.
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
Esther E. Gesick
Clerk to the Board
Weld County Board of Commissioners
and Board of Equalization
cc: Brenda Dones, Assessor
August 5, 2021
Petitioner:
HOME DEPOT
PO BOX 105842
ATLANTA, GA 30348-5842
CLERK TO THE BOARD
PHONE (970) 400-4226
FAX (970) 336-7233
WEBSITE: www.weldqov.com
1150 O STREET
P.O. BOX 758
GREELEY CO 80632
Agent (if applicable):
ALTUS GROUP US INC
ALEX POWELL AND/OR DYLAN BEDFORD
PO BOX 92129
SOUTHLAKE, TX 76092-0102
RE: THE BOARD OF EQUALIZATION 2021, WELD COUNTY, COLORADO
NOTICE OF DECISION
Docket 2021-2215 Appeal 2008230336 Hearing 8/5/2021
Dear Petitioner:
On the day indicated above, the Board of County Commissioners of Weld County Colorado convened and
acting as the Board of Equalization, pursuant to C.R.S. §39-8-101 et seq., considered petition for appeal of
the Weld County Assessor's valuation of your property described above, for the year 2021.
Account # Decision
The Assessment and valuation is set as follows:
Actual Value as Actual Value as Set by
Determined by Assessor Board
R5026708 Deny - Administrative Deny
$8,580,000 $8,580,000
A denial of a petition, in whole or in part, by the Board of Equalization must be appealed within thirty (30)
days of the date the denial is mailed to you. You must select only one of the following three (3)
options for appeal:
1. Appeal to Board of Assessment Appeals: You have the right to appeal the County Board of
Equalization's decision to the Colorado Board of Assessment Appeals. A hearing before that Board
will be the last time you may present testimony or exhibits or other evidence, or call witnesses in
support of your valuation. If the decision of the Board of Assessment Appeals is further appealed to
the Court of Appeals pursuant to C.R.S. §39-8-108(2), only the record of proceedings from your
hearing before the Board of Assessment Appeals and your legal brief are filed with the appellate
court.
All appeals to the Board of Assessment Appeals filed after August 10, 2021, MUST comply with the
following provisions of C.R.S. §39-8-107(5):
(5)(a)(I) On and after August 10, 2021, in addition to any other requirements under law, any petitioner
appealing either a valuation of rent -producing commercial real property to the Board of Assessment Appeals
pursuant to C.R.S. §39-8-108(1) or a denial of an abatement of taxes pursuant to C.R.S. §39-10-114 shall
provide to the County Board of Equalization or to the Board of County Commissioners of the County in the
case of an abatement, and not to the Board of Assessment Appeals, the following information, if applicable:
(A) Actual annual rental income for two full years including the base year for the relevant property tax year;
(B) Tenant reimbursements for two full years including the base year for the relevant property tax year,
(C) Itemized expenses for two full years including the base year for the relevant property tax year; and
(D) Rent roll data, including the name of any tenants, the address, unit, or suite number of the subject
property, lease start and end dates, option terms, base rent, square footage leased, and vacant space for
two full years including the base year for the relevant property tax year.
(II) The petitioner shall provide the information required by subsection (5)(a)(I) of this paragraph (a) within
ninety days after the appeal has been filed with the Board of Assessment Appeals.
(b)(I) The Assessor, the County Board of Equalization, or the Board of County Commissioners of the
County, as applicable, shall, upon request made by the petitioner, provide to a petitioner who has filed an
appeal with the Board of Assessment Appeals not more than ninety days after receipt of the petitioner's
request, the following information:
(A) The primary method used by the county to determine the value of the subject property; and
(B) The rates used by the county to determine the value of the subject property under the method identified
in accordance with subsection (5)(b)(I)(A) of this section.
(II) The party providing the information to the petitioner pursuant to subparagraph (I) of this paragraph (b)
shall redact all confidential information contained therein.
(c) If a petitioner fails to provide the information required by subparagraph (I) of paragraph (a) of this
subsection (5) by the deadline specified in subparagraph (II) of said paragraph (a), the County may move
the Board of Assessment Appeals to compel disclosure and to issue appropriate sanctions for
noncompliance with such order. The motion may be made directly by the County Attorney and shall be
accompanied by a certification that the County Assessor or the County Board of Equalization has in good
faith conferred or attempted to confer with such petitioner in an effort to obtain the information without action
by the Board of Assessment Appeals. If an order compelling disclosure is issued under this paragraph (c)
and the petitioner fails to comply with such order, the Board of Assessment Appeals may make such orders
in regard to the noncompliance as are just and reasonable under the circumstances, including an order
dismissing the action or the entry of a judgment by default against the petitioner. Interest due the taxpayer
shall cease to accrue as of the date the order compelling disclosure is issued, and the accrual of interest
shall resume as of the date the contested information has been provided by the taxpayer.
Appeals to the Board of Assessment Appeals must be made on forms furnished by that Board, and must be
mailed or delivered within thirty (30) days of the date the denial by the Board of Equalization is mailed to
you.
The address and telephone number of the Board of Assessment Appeals are:
Board of Assessment Appeals
1313 Sherman Street, Room 315
Denver, Colorado 80203
Telephone Number: (303) 864-7710
Email: baa@state.co.us
Fees for Appeal to the Board of Assessment Appeals: A taxpayer representing himself is not charged for the
first two (2) appeals to the Board of Assessment Appeals. A taxpayer represented by an attorney or agent
must pay a fee of $101.25 per appeal.
OR
2. Appeal to District Court: You have the right to appeal the decision of the Board of Equalization to the
District Court of the county wherein your property is located: in this case that is Weld County District
Court. A hearing before The District Court will be the last time you may present testimony or exhibits
or other evidence, or call witnesses in support of your valuation. If the decision of the District Court is
further appealed to the Court of Appeals pursuant to C.R.S. §39-8-108(1), the rules of Colorado
appellate review and C.R.S. §24-4-106(9), govern the process.
OR
3. Binding Arbitration: You have the right to submit your case to binding arbitration. If you choose this
option, the arbitrator's decision is final and you have no further right to appeal your current
valuation. C.R.S. §39-8-108.5 governs this process. The arbitration process involves the following:
a. Select an Arbitrator: You must notify the Board of Equalization within 30 days that you will
pursue arbitration. You and the Board of Equalization will 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 (i.e. Weld) will select the arbitrator.
b. Arbitration Hearing Procedure: Arbitration hearings are held within sixty (60) days from the
date the arbitrator is selected, and are set by the arbitrator. Both you and the Board of
Equalization are entitled to participate in the hearing. The hearing is informal. The arbitrator
has the authority to issue subpoenas for witnesses, books, records documents and other
evidence pertaining to the value of the property. The arbitrator also has the authority to
administer oaths, and determine all questions of law and fact presented to him. The
arbitration hearing may be confidential and closed to the public if you and the Board of
Equalization agree. The arbitrator's decision must be delivered personally or by registered
mail within ten (10) days of the arbitration hearing.
c. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the
Board of Equalization. In the case of residential real property, the fees may not exceed
$150.00 per case. For cases other than residential real property, the arbitrator's total fees
and expenses are agreed to by you and Board of Equalization, but are paid by the parties as
ordered by the arbitrator.
If you have questions concerning the above information, please call me at (970) 400-4226.
Very truly yours,
BOARD OF EQUALIZATION
Esther E. Gesick
Clerk to the Board
Weld County Board of Commissioners
and Board of Equalization
cc: Brenda Dones, Weld County Assessor
August 5, 2021
Agent:
ALTUS GROUP US INC
ALEX POWELL AND/OR DYLAN BEDFORD
PO BOX 92129
SOUTHLAKE, TX 76092-0102
CLERK TO THE BOARD
PHONE (970) 400-4226
FAX (970) 336-7233
WEBSITE: www.weldgov.com
1150 O STREET
P.O. BOX 758
GREELEY CO 80632
Petitioner:
HOME DEPOT
PO BOX 105842
ATLANTA, GA 30348-5842
RE: THE BOARD OF EQUALIZATION 2021, WELD COUNTY, COLORADO
NOTICE OF DECISION
Docket 2021-2215 Appeal 2008230336 Hearing 8/5/2021
Dear Petitioner:
On the day indicated above, the Board of County Commissioners of Weld County Colorado convened and
acting as the Board of Equalization, pursuant to C.R.S. §39-8-101et seq., considered petition for appeal of
the Weld County Assessor's valuation of your property described above, for the year 2021.
Account # Decision
The Assessment and valuation is set as follows:
Actual Value as Actual Value as Set by
Determined by Assessor Board
R5026708 Deny - Administrative Deny
$8,580,000 $8,580,000
A denial of a petition, in whole or in part, by the Board of Equalization must be appealed within thirty (30)
days of the date the denial is mailed to you. You must select only one of the following three (3)
options for appeal:
1. Appeal to Board of Assessment Appeals: You have the right to appeal the County Board of
Equalization's decision to the Colorado Board of Assessment Appeals. A hearing before that Board
will be the last time you may present testimony or exhibits or other evidence, or call witnesses in
support of your valuation. If the decision of the Board of Assessment Appeals is further appealed to
the Court of Appeals pursuant to C.R.S. §39-8-108(2), only the record of proceedings from your
hearing before the Board of Assessment Appeals and your legal brief are filed with the appellate
court.
All appeals to the Board of Assessment Appeals filed after August 10, 2021, MUST comply with the
following provisions of C.R.S. §39-8-107(5):
(5)(a)(I) On and after August 10, 2021, in addition to any other requirements under law, any petitioner
appealing either a valuation of rent -producing commercial real property to the Board of Assessment Appeals
pursuant to C.R.S. §39-8-108(1) or a denial of an abatement of taxes pursuant to C.R.S. §39-10-114 shall
provide to the county Board of Equalization or to the Board of County Commissioners of the County in the
case of an abatement, and not to the Board of Assessment Appeals, the following information, if applicable:
(A) Actual annual rental income for two full years including the base year for the relevant property tax year;
(B) Tenant reimbursements for two full years including the base year for the relevant property tax year;
(C) Itemized expenses for two full years including the base year for the relevant property tax year; and
(D) Rent roll data, including the name of any tenants, the address, unit, or suite number of the subject
property, lease start and end dates, option terms, base rent, square footage leased, and vacant space for
two full years including the base year for the relevant property tax year.
(II) The petitioner shall provide the information required by subsection (5)(a)(I) of this paragraph (a) within
ninety days after the appeal has been filed with the board of assessment appeals.
(b)(I) The Assessor, the County Board of Equalization, or the Board of County Commissioners of the
County, as applicable, shall, upon request made by the petitioner, provide to a petitioner who has filed an
appeal with the Board of Assessment Appeals not more than ninety days after receipt of the petitioner's
request, the following information:
(A) The primary method used by the county to determine the value of the subject property; and
(B) The rates used by the county to determine the value of the subject property under the method identified
in accordance with subsection (5)(b)(l)(A) of this section.
(II) The party providing the information to the petitioner pursuant to subparagraph (I) of this paragraph (b)
shall redact all confidential information contained therein.
(c) If a petitioner fails to provide the information required by subparagraph (I) of paragraph (a) of this
subsection (5) by the deadline specified in subparagraph (II) of said paragraph (a), the County may move
the Board of Assessment Appeals to compel disclosure and to issue appropriate sanctions for
noncompliance with such order. The motion may be made directly by the County Attorney and shall be
accompanied by a certification that the County Assessor or the County Board of Equalization has in good
faith conferred or attempted to confer with such petitioner in an effort to obtain the information without action
by the Board of Assessment Appeals. If an order compelling disclosure is issued under this paragraph (c)
and the petitioner fails to comply with such order, the Board of Assessment Appeals may make such orders
in regard to the noncompliance as are just and reasonable under the circumstances, including an order
dismissing the action or the entry of a judgment by default against the petitioner. Interest due the taxpayer
shall cease to accrue as of the date the order compelling disclosure is issued, and the accrual of interest
shall resume as of the date the contested information has been provided by the taxpayer.
Appeals to the Board of Assessment Appeals must be made on forms furnished by that Board, and must be
mailed or delivered within thirty (30) days of the date the denial by the Board of Equalization is mailed to
you.
The address and telephone number of the Board of Assessment Appeals are:
Board of Assessment Appeals
1313 Sherman Street, Room 315
Denver, Colorado 80203
Telephone Number: (303) 864-7710
Email: baa@state.co.us
Fees for Appeal to the Board of Assessment Appeals: A taxpayer representing himself is not charged for the
first two (2) appeals to the Board of Assessment Appeals. A taxpayer represented by an attorney or agent
must pay a fee of $101.25 per appeal.
OR
2. Appeal to District Court: You have the right to appeal the decision of the Board of Equalization to the
District Court of the county wherein your property is located: in this case that is Weld County District
Court. A hearing before The District Court will be the last time you may present testimony or exhibits
or other evidence, or call witnesses in support of your valuation. If the decision of the District Court is
further appealed to the Court of Appeals pursuant to C.R.S. §39-8-108(1), the rules of Colorado
appellate review and C.R.S. §24-4-106(9), govern the process.
OR
3. Binding Arbitration: You have the right to submit your case to binding arbitration. If you choose this
option, the arbitrator's decision is final and you have no further right to appeal your current
valuation. C.R.S. §39-8-108.5 governs this process. The arbitration process involves the following:
a. Select an Arbitrator: You must notify the Board of Equalization within 30 days that you will
pursue arbitration. You and the Board of Equalization will 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 (i.e. Weld) will select the arbitrator.
b. Arbitration Hearing Procedure: Arbitration hearings are held within sixty (60) days from the
date the arbitrator is selected, and are set by the arbitrator. Both you and the Board of
Equalization are entitled to participate in the hearing. The hearing is informal. The arbitrator
has the authority to issue subpoenas for witnesses, books, records documents and other
evidence pertaining to the value of the property. The arbitrator also has the authority to
administer oaths, and determine all questions of law and fact presented to him. The
arbitration hearing may be confidential and closed to the public if you and the Board of
Equalization agree. The arbitrator's decision must be delivered personally or by registered
mail within ten (10) days of the arbitration hearing.
c. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the
Board of Equalization. In the case of residential real property, the fess may not exceed
$150.00 per case. For cases other than residential real property, the arbitrator's total fees
and expenses are agreed to by you and Board of Equalization, but are paid by the parties as
ordered by the arbitrator.
If you have questions concerning the above information, please call me at (970) 400-4226.
Very truly yours,
BOARD OF EQUALIZATION
Esther E. Gesick
Clerk to the Board
Weld County Board of Commissioners
and Board of Equalization
cc: Brenda Dones, Weld County Assessor
Hello