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HomeMy WebLinkAbout20212027.tiffCOUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number: R8945127 STIPULATION (As To Tax Year 2021 Actual Value) RE PETITION OF : NAME: LONGS PEAK BUSINESS CENTER LLC ADDRESS: 7374 S ALTON WAY STE 203 CENTENNIAL, CO 80112-2368 Petitioner (s) and the Weld County Assessor hereby enter into this Stipulation regarding the tax year 2021 valuation of the subject property, and jointly move the Board of Equalization to enter its order based on this Stipulation. Petitioner (s) and Assessor agree and stipulate as follows: 1. The property subject to this Stipulation is described as: 5073 SILVER PEAK AVE, DACONO; Lot 2A Block 1 SILVER PEAKS AT DACONO FG#2 1ST RPLT 2. The subject property is classified as commercial. 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2021 : Total: $4,550,000 4. After further review and negotiation, Petitioner (s) and Weld County Assessor agree to the following tax year 2021 actual value for the subject property: Total: $4,458,739 5. The valuation, as established above, shall be binding only with respect to tax year 2021 . 6. Brief narrative as to why the reduction was made: After further review, an adjustment was indicated. 7. Both parties agree that: The hearing scheduled before the Board of Equalization on 08/03/2021 at 8:30 am be vacated. nA hearing has not yet been scheduled before the Board of Equalization. R8945127 1 Goal- aoa7 A50 09 DATED this 23rd day of July , 2021 . Petitioner(s) or Agent or Attorney Address: 950 S Cherry Street, Suite 320 Denver CO 80246 Telephone: 3037578865 R8945127 (Assistant) County Attorney for Respondent, Weld County Board of Commissioners Address: 1150 "O" Street P.O. Box 758 Greeley, CO 80632 Telephone:(970) 336-7235 County Deputy Assessor Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 400-3650 2 R8945127/LONGS PEAK BUSINESS CENTER LLC Final Audit Report 2021-07-23 Created: 2021-07-23 By: MILLIE CHANNELL (mchannell@co.weld.co.us) Status: Signed Transaction ID: CBJCHBCAABAAUvgdgZt-_Zc7HMUIgFiJG58gmByq0iRe "R8945127/LONGS PEAK BUSINESS CENTER LLC" History t Document created by MILLIE CHANNELL (mchannell@co.weld.co.us) 2021-07-23 - 5:46:24 PM GMT- IP address: 204.133.39.9 Document emailed to MILLIE CHANNELL (mchannell@co.weld.co.us) for approval 2021-07-23 - 5:46:27 PM GMT (Sp Document approved by MILLIE CHANNELL (mchannell@co.weld.co.us) Approval Date: 2021-07-23 - 5:48:59 PM GMT - Time Source: server- IP address: 204.133.39.9 E-4. Document emailed to Jason Marini (jmarini@co.weld.co.us) for approval 2021-07-23 - 5:49:01 PM GMT Email viewed by Jason Marini (jmarini@co.weld.co.us) 2021-07-23 - 6:13:55 PM GMT- IP address: 204.133.39.9 6a Document approved by Jason Marini (jmarini@co.weld.co.us) Approval Date: 2021-07-23 - 6:16:36 PM GMT - Time Source: server- IP address: 204.133.39.9 Els Document emailed to Jason Marini (appeals@weldgov.com) for signature 2021-07-23 - 6:16:37 PM GMT 't Email viewed by Jason Marini (appeals@weldgov.com) 2021-07-23 - 6:17:20 PM GMT- IP address: 204.133.39.9 60 Document e -signed by Jason Marini (appeals@weldgov.com) Signature Date: 2021-07-23 - 6:17:44 PM GMT - Time Source: server- IP address: 204.133.39.9 C Document emailed to Brenda Fearn (bfearn@sterlingpts.com) for signature 2021-07-23 - 6:17:46 PM GMT Adobe Sign f) Email viewed by Brenda Fearn (bfearn@sterlingpts.com) 2021-07-23 - 6:27:15 PM GMT- IP address: 73.34.240.159 t3 Document e -signed by Brenda Fearn (bfearn@sterlingpts.com) Signature Date: 2021-07-23 - 6:50:57 PM GMT - Time Source: server- IP address: 73.34.240.159 Document emailed to Karin McDougal (weld-cboe@weldgov.com) for signature 2021-07-23 - 6:50:59 PM GMT t Email viewed by Karin McDougal (weld-cboe@weldgov.com) 2021-07-23 - 7:06:46 PM GMT- IP address: 204.133.39.9 b® Document e -signed by Karin McDougal (weld-cboe@weldgov.com) Signature Date: 2021-07-23 - 7:06:59 PM GMT - Time Source: server- IP address: 204.133.39.9 • Agreement completed. 2021-07-23 - 7:06:59 PM GMT Adobe Sign CTB-County Board of Equalization Wednesday, July 14, 2021 1:52 PM SVC-AppealMailProcess CTB-County Board of Equalization R8945127 FW: 2021 Board of Equalization Appeals R8945127.pdf Chloe Rempel From: Sent: To: Cc: Subject: Attachments: 88945127 ONGS PEAK BUSINESS CENTER LLC- 374 "S ALTON WAY "STE. 20:3 aENTENNIAL, CO 80112-2368 COM ERCIAL Chloe A. Rempel Deputy Clerk to the Board Supervisor Clerk to the Board's Office Weld County 1150 O Street Greeley, CO 80631 Tel: (970) 400-4213 Email: crempel@weldgov.com t 2A Block 1 SILVER PEAKS AT CAC ONO FG #2 1ST RPLT 073 SILLIER PEAK AVE DACONO 'OO 5,, 4,550,000 4,550,( 4,550,C Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential 1 2021-2027 ASOt0c or otherwise protected from disclosure If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited From• Barbara Gonzales <barbara@sterlingpts corn> Sent. Tuesday, July 13, 20213 23 PM To: CTB-County Board of Equalization <weld-cboe@co weld co us> Cc: Victoria Martin <victoria@sterlingpts corn> Subject: 2021 Board of Equalization Appeals Caution This email originated from outside of Weld County Government Do not click links or open attachments unless you recognize the i,,,sender and know,the content is safe Dear Board, Please find attached the 2021 Board of Equalization appeals for the following schedule numbers R3919605 R2941404 R4696707 R2569303 R3846705 R5341708 R8945127 Our requested hearing date is as follows August 2, 2021 Please contact our office to discuss any question or concerns you may have regarding these cases Sincerely, Barbara Gonzales Senior Administrative Assistant I E- mail barbara@sterlingpts corn Office 303-757-8865 Ext 106 I Fax 303-757-7691 STERLIN PROPERTY TAX SPECIALISTS. INC 950 S Cherry Street, Suite 320 Denver, CO 80246 www sterlmgpts corn 2 NOTICE OF DETERMINATION Brenda Dones Weld County Assessor 1400 N 17th Ave Greeley, CO 80631 Date of Notice: 6/30/2021 Telephone: (970) 400-3650 Fax: (970) 304-6433 Office Hours: 8:00AM — 5:00PM ACCOUNT NO. . - TAX YEAR ... ..,., '. ...:..• . -... TAX ..... AREA •.�',:.. - .. �:,: ..: _ LEGAL ~` 4•ti,�,li 24-. 7S= ��N�Lfill,:.,s,:n DESCRIPTION! y` '�•,� Ntigilve;::?lwP . , PHYSICAL -..ti P►'=.•. 1. OCATION ,�. Pat ,., °,Y... f 1, •.. F rltt �� :=-• ,f! - ... R8945127 2021 5567 Lot #2 5073 2A Block 1ST SILVER RPLT 1 SILVER PEAK PEAKS AVE AT DACONO DACONO FG .z , LONGS 7374 CENTENNIAL, S ALTON PEAK BUSINESS WAY CO 80112-2368 CENTER STE 203 LLC W : o .r, Q ;x CC C. • 'PROPERTY CLASSIFICATION �c--.�.-�,- is "'..' '..1.;�,7 itti =`n -.:r -,7C' wif::- sary :_;:^` ASSESSOR'S VALUATION f t'•c 4: .. 4- to .i75;, �\ • `w .• mi 1`'` JTt`r} rye �. ACTUAL VALUE REVIEW PRIOR TO ACTUAL VALUE REVIEW AFTER *•,r<' COMMERCIAL 4,550,000 4,550,000 ixci�`v,, ` ,, " A_ x>T�TAL:° �.4 ..� .:.•.,fry:. . ° - ' j 4,550,000 4,550,000 .: ° 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): STERLING PROPERTY TAX SPECIALISTS INC 950 S CHERRY ST SUITE 320 DENVER, CO 80246 15-DPT-AR PR 207-08/13 R8945127 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/apps//cboe/ 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 District Court 1313 Sherman Street, Room 315 Contact the District Court in the County Denver, CO 80203 where the property is located. See your (303) 866-5880 local telephone book for the address and www.dola.colorado.gov/baa telephone number. 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. 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.) $ 3,500,200 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.) Please see the attached. I, the undersigned o aon any atta gent' of the property identified above, affirm that the statements contained herein eto are true and complete. Zeitt2 303-757-8865 Signature Telephone Number Date BFearn@sterlingpts.com Please send all BOE hearing info. and BOE packets to nina@sterlingpts.com Email Address 7-13-21 'Attach letter of authorization signed by property owner. 1 5-DPT-AR PR 207-08/13 R8945127 95o S Cherry Street Suite 320 Denver, CO 80246 303 757 8865 fax 303 757 7691 www sterlingpts corn May 31, 2021 Ms Brenda Dones Weld County Assessor 1400 N 17th Avenue Greeley, CO 80631 PROPERTY TAX SPECIALISTS INC RE 5073 Silver Peaks Ave (Schedule Number R8945127) (the "Property") Dear Commissioners The undersigned, Sterling Property Tax Specialists, Inc , represents the owner of the Property for the purpose of filing an abatement of the 2021 Valuation A copy of the Letter of Authorization is attached hereto and made an integral part hereof The Property is an industrial flex building Per the Assessor records the Property consists 42,920 square feet gross building area The Property was constructed in 2007, originally designed as a multi -tenant building The Property has transitioned to a single tenant user Changes in the economy as well as an oversupply of competing space eroded net revenue due to reduced rent rates for existing space of this size In July 2018, an existing tenant, Xpedition Vehicle Services, LLC, expanded their lease to the entirety of the Property at the rental rate of $8 01 per square foot on a triple net basis Through escalations, the rent on the Date of Value, June 30, 2020 was $8 23 per square foot Rent roll information of June 30, 2019, June 30, 2019, and December 31, 2020 is attached hereto as Exhibit A and made an integral part hereof The 2019 and 2020 operating statements are combined with other property, not included in this appeal, and thus are not provided herein The Property is an investment property As such, Petitioner contends an income analysis provides the most reliable indication of value for the Property Petitioner has utilized leasable area of 43,763 square feet as shown on the rent roll Petitioner has given weight to the lease in place as market rents for the area have not increased Petitioner has utilized a rent rate of $8 23 NNN per square foot As a single tenant building of approximately 43,000 square feet, Petitioner has allowed 10% for stabilized vacancy In the income analysis, Petitioner has utilized 5% per square foot for expenses Petitioner has deducted 3% for reserves for replacement In selection of a market capitalization rate, Petitioner has considered available market data CoStar base period sales for industrial properties range from 6 5 to 8 36, with an average capitalization rate of 7 15% In its analysis, Petitioner has considered the market capitalization rates, the impact of COVID relevant to commercial real estate and lending as of the Date of Value, June 30, 2020, and the oversupply of available industrial space in the area A CoStar 5073 Silver Peaks Ave Page 2 listing of base period industrial property capitalization rates for sales is shown as Exhibit B, attached hereto and made an integral part hereof Petitioner has utilized the market capitalization rate of 7 15% for return of and return on investment The Property is located within an area with a higher than typical mill levy The mill levy for the Property was 119837 and 118828 for tax years 2019 and 2020, respectively The average mill levy in Weld County for tax year 2019 was 072583 The Property's 2019 mill levy is 047254 higher than the 2019 average mill levy in Weld County, for an effective tax rate difference of 013704 Petitioner has added the difference in the effective tax rate of 013704 to the market capitalization rate of 7 15%, for a tax loaded capitalization rate of 8 52% Petitioner's effective tax rate calculations and tax loaded capitalization rate are as follows Property's 2019 Mill Levy 119837 Weld County Average Mill Levy 072583 Mill Levy difference 047254 Difference in Mill Levy 047254 Multiplied by 29% 29 Difference in Effective Tax Rate 013704 Market Capitalization Rate 071500 Difference in Effective Tax Rate 013704 Tax loaded Capitalization Rate 085204 Petitioner's income analysis is shown on the following page 5073 Silver Peaks Ave. Page 3 The Petitioner's income analysis is as follows: Potential Gross Income 43,763 SF @ Stabilized Vacancy $8.23 PSF $ 360,169 10% $ 36,017 Effective Gross Income $ 324,153 Expenses Reserves for Replacement at Total Expenses NOI Capitalized at 8.52% Indicated Value 5% $ 16,208 3% $ 9,725 8% $ 25,932 $ 298,220 $ 3,500,200 Rounded $ 79.98 The Department of Property Taxation 2019 annual report, showing the Weld County average mill levy is shown as Exhibit C, attached hereto and made an integral part hereof. Based upon the foregoing, Petitioner hereby requests the Board adjust the value for the Property for calendar year 2021 to $3,500,200. All information contained herein should be considered confidential and not available to any third parties. Sincerely, STERLING PROPERTY TAX SPECIALISTS, INC. Brenda Fearn, Property Tax Consultant LETTER OF AUTHORIZATION July 21, 2020 Sterling Property Tax Specialists, Inc. 950 South Cherry Street. Suite 320 Denver, Colorado 80246 RE: 2021 and 2022 Property Tax Assessment Matters Gentlemen: The undersigned, as owner(s) of property located in Weld County, Colorado. at SEE ATTACHED, and more particularly described on Assessor's Notice of Valuation. Schedule No(s). SEE ATTACHED hereby authorizes Sterling Property Tax Specialists, Inc. and Goldstein Law Firm. LLC. to act as agent on my behalf regarding all 2021 and 2022 tax assessment matters, and obtain any and all documents relating thereto property and file any protests necessary. This Authorization shall be effective as of the date set forth above. LONGS PEAK BUSINESS CENTER, LLC By Resolute Investments, Inc., Manager r By: Gary Rohr, Presient Telephone: 303-645-0505 Resolute Investments Weld County 2021 / 2022 Longs Peak Business Center, LLC R8945127 R8945128 Database RESINVESTINC Bldg Status Active only Long's Peak Bus Ctr, LLC Rent Roll Longs Peak Business Center LLC 6/30/2019 Page 1 Date 3/17/2021 Time 11 41 AM GLA Monthly Annual Monthly Expense Monthly Bldg Id Suit Id Occupant Name Rent Start Expiration Sqft Base Rent Rate PSF Cost Recovery Stop Other Income Occupied Suites LONG 108 > Xpedition Vehicle Services, LLC 06/15/2018 10/31/2026 43 763 29,211 80 8 01 14,736 32 Database RESINVESTINC Bldg Status Active only Rent Roll Longs Peak Business Center LLC 6/30/2020 Page 1 Date 5/25/2021 Time 5 33 PM GLA Monthly Annual Monthly Expense Monthly Bldg Id Suit Id Occupant Name Rent Start Expiration Sqft Base Rent Rate PSF Cost Recovery Stop Other Income LONG 108 Xpedition Vehicle Services, LLC 6/15/2018 10/31/2026 43 763 30,014 12 8 23 19,981 16 Database RESINVESTINC Bldg Status Active only Long's Peak Bus Ctr, LLC Rent Roll Longs Peak Business Center LLC 12/31/2020 Page 1 Date 3/17/2021 Time 11 57 AM Bldg Id Suit Id Occupant Name Rent Start Expiration GLA Monthly Annual Monthly Expense Monthly Sqft Base Rent Rate PSF Cost Recovery Stop Other Income LONG 108 Xpedition Vehicle Services, LLC 06/15/2018 10/31/2026 43,763 30,779 98 8 44 19,981 16 v_ Industrial Capitalization Rates Source CoStar County Address City Submarket Name Property Type Secondary Type Zoning Sale Date Actual Cap ProForma Rate Cap Rate Adams 11060 Irma Dr Northglenn North Denver Industrial Warehouse 1-2, Northglenn 8/20/2019 7 00 Adams 5950-5972 Sheridan Blvd Arvada Northwest Denver Industrial Warehouse 1-1 2/25/2020 6 50 Adams 6400 Washington St Denver Commerce City Industrial Warehouse 1-2 5/31/2019 7 35 Adams 6845 E 48th Ave Commerce City East 1-70/270 Industrial Warehouse Commercial 12/31/2019 Adams 909 E 75th Ave Denver North Denver Industrial Manufacturing 1-1 3/20/2019 8 36 Arapahoe 2610-2628 5 Zuni St Englewood Lower South Central Industrial Warehouse B 4 5/30/2019 7 50 Arapahoe 7909 Chambers Rd Centennial Centennial Industrial Warehouse MU 6/3/2019 Boulder 5660Valmont Rd Boulder Boulder Industrial Manufacturing 1 G 2/15/2019 6 90 Denver 1131-1145 W Custer PI Denver Upper South Central Industrial Warehouse 84 4/8/2019 7 50 Denver 12790 E 38th Ave Denver SW DIA/Pena Blvd Industrial Warehouse 1-8 2/25/2019 6 90 Denver 1955-1957 S Quince St Denver Glendale Industrial Warehouse 1-1 7/19/2019 7 00 Denver 2020 W Barberry PI Denver Mid Central Industrial Warehouse 18 1/31/2020 6 70 Denver 24015 Delaware St Denver Lower South Central Industrial Manufacturing I -MX -3, Denver 2/18/2020 7 00 Denver 2775 W 7th Ave Denver Mid Central Industrial Warehouse I -A, U0-2 8/22/2019 Denver 3870 Paris St Denver Cent E 1-70/Montbello Industrial Warehouse 1-8 2/7/2020 6 80 Denver 5595 Joliet St Denver Cent E 1-70/Montbello Industrial Warehouse 1-8 12/31/2019 6 92 Jefferson 11500 W 13th Ave Lakewood West Denver Industrial Manufacturing LI-RD 12/26/2019 7 71 Jefferson 12900 W 43rd Dr Wheat Ridge West Denver Industrial Warehouse PIO 3/7/2019 Jefferson 5000 Robb St Wheat Ridge Northwest Denver Industrial P C -D 6/17/2020 6 75 Jefferson 5609 W 6th Ave Denver West Denver Industrial LI - Light Industrial 12/19/2019 7 50 Average 7 15 Median 7 00 W 7 20 6 70 9 00 7 50 m-0 X 0 o W CD Co Petitioner's Exhibit C STATE OF COLORADO 2019 FORTY-NINTH ANNUAL REPORT TO THE GOVERNOR AND THE GENERAL ASSEMBLY Department of Local Affairs Division of Property Taxation i C-1 , 1 Assessed Valuation, Revenue And Average Levies(1) by County 2019 Assessed Valuation Total Revenue County Mill Average Municipal Average School Average Special Total Average Levy Levy(2) Levy Levy(3) County Levy Adams* $8,600,149,670 $997,514,733 26 917 7126 60 464 4 600 115 988 Alamosa $187,038,031 $14,593,464 25 238 , 6 725 38 364 2 626 78 024 Arapahoe` $12,279,267,631 $1,180,570,017 12 685 7 143 54 588 3 302 96 143 Archuleta $348,606,370 $21,894,529 17 411 1 565 24 976 3 595 62 806 Baca $98,929,376 $7,315,878 30 866 27 016 25 095 4 825 73 951 Bent $92,475,850 $6,185,554 30 603 39 000 20 918 2 957 66 888 Boulder $8,762,659,347 $808,577,355 23 473 12 280 50 668 2 082 92 275 Broomfield` $1,682,545,020 $196,968,295 17 511 11 457 55 294 8 191 117 066 Chaffee $495,320,120 $26,600,869 8 754 5 332 33 013 1 912 53 704 Cheyenne $129,173,990 $6,985,210 15 160 32151 20 006 3 237 54 076 Clear Creek $364,136,650 $25,350,147 35 156 8 200 23 300 3 633 69 617 Conejos $71,401,734 $5,480,832 25 001 15 200 35 406 3 022 76 760 Costilla $125,963,580 $9,188,183 18 668 20 303 38 307 4 182 72 943 Crowley $52,028,587 $3,517,713 39 807 23 124 23 231 0 829 67 611 Custer $109,773,510 $7,191,294 19 906 4 435 28 883 4 000 65 510 Delta $329,563,045 $22,052,353 16 296 2 339 27 645 2 091 66 914 Denver* $22,108,001,450 $1,700,144,655 24455 46 664 2 603 76 902 Dolores $121,465,928 $6,961,157 28 013 23 813 18 559 1 591 57 310 Douglas* $7,289,075,050 $736,325,500 19 274 1 677 43 839 4 843 101 018 Eagle $3,536,959,480 $230,147,921 8 499 5 770 25 522 3 470 65 069 Elbert $420,057,640 $35,435,084 30 570 19 318 31 872 7 537 84 358 El Paso' $8,699,370,090 $658,772,590 7 035 4 758 50 866 4 507 75 726 Fremont $483,407,382 $33,097,934 12 384 5 853 36 834 3 702 68 468 Garfield $2,497,238,590 $153,722,100 13 655 7 151 25 487 3 037 61 557 Gilpin $440,433,520 $15,491,935 9 046 0 855 12 547 5 471 35174 Grand $794,084,850 $47,883,465 15 155 5 634 20 502 3 716 60 300 Gunnison` $719,471,840 $45,543,412 15 355 8 323 28 757 2 780 63 301 Hinsdale $57,325,000 $2,903,509 17 683 4 265 20 857 2 214 50 650 Huerfano* $126,019,020 $9,815,619 20 786 8 445 34 070 3 451 77 890 Jackson $97,109,106 $4,592,117 15 397 12 754 23 060 2 806 47 288 Jefferson* $10,899,265,508 $1,040,322,101 23 332 4 952 47 075 3 708 95 449 Kowa $40,043,880 $3,722,010 46 553 43 481 22 645 3 928 92 948 Kit Carson $199,379,080 $15,448,986 37 967 11 851 30 380 1 244 77 485 Lake $241,015,313 $20,432,260 38 192 18 900 34139 5 448 84 776 La Plata $1,859,685,170 $79,208,828 8 500 5 054 21 980 2 742 42 593 Lamer* $6,837,623,386 $641,922,125 21 863 10 030 50 143 2 955 93 881 Las Animas* $357,450,680 $13,566,307 9 376 17 074 18 905 2 678 37 953 Lincoln $170,332,511 $11,660,601 34 750 20 327 27 426 1 169 68 458 928 C-2 Assessed Valuation, Revenue And Average Levies(1) by County Logan* Mesa* Mineral Moffat Montezuma Montrose Morgan Otero* Ouray Park Phillips Pitkin Prowers* Pueblo* Rio Blanco Rio Grande Routt Saguache San Juan San Miguel Sedgwick Summit Teller* Washington Weld* Yuma Total 2019 Assessed Valuation $351,479,650 $2,201,392,670 $47,699,902 $413,210,307 $698,581,380 $599,853,928 $602,626,640 $163,109,346 $179,764,600 $480,498,036 $97,831,530 $3,426,495,000 $138,347,274 $1,906,776,371 S870,745,820 $198,372,883 $1,253,130,110 $77,668,371 $47,174,891 $884,219,340 $60,350,190 $2,257,439,910 $722,084,590 $159,232,486 $15,732,447,240 $255,207,400 $135,549,586,850 Total Revenue $26,144,657 $137,102,477 $3,376,932 $27,001,296 $34,724,359 $40,102,828 $51,541,865 $9,924,694 $9,951,949 $29,484,565 $8,651,134 $144,873,317 $8,906,330 $182,366,843 S41,369,753 $13,222,907 $75,518,046 $6,778,674 $1,912,487 $40,682,652 $4,400,266 $127,828,881 $34,827,186 $10,515,349 $1,141,900,696 $20,718,652 $11,080,935,437 County Mill Average Municipal Average School Average Special Total Average Levy Levy(2) 29.892 8.554 26.291 23.888 14.260 22.554 28.953 22.028 13.165 20.029 28.280 7.510 27.170 30.088 9.050 15.567 16.867 22.540 19.729 11.652 30.025 19.280 14.637 30.251 15.038 21.722 18.513 Levy Levy(3) County Levy 14.586 34.141 1.552 74.385 8.434 38.402 1.980 62.280 16.547 36.249 2.941 70.795 19.043 31.372 1.420 65.345 2.733 22.552 1.509 49.707 10.240 25.511 3.498 66.854 14.830 44.104 1.939 85.529 10.448 28.999 2.514 60.847 12.765 27.672 1.739 55.361 13.595 21.134 4.803 61.363 20.847 36.556 3.859 88.429 5.603 11.042 1.950 42.280 15.388 26.258 2.242 64.377 15.623 42.961 3.315 95.641 9.876 12.277 3.416 47.511 15.137 39.119 1.460 66.657 3.340 27.073 1.832 60.264 17.321 40.751 6.027 87.277 10.560 13.646 1.502 40.540 10.148 12.810 2.139 46.010 36.452 33.108 0.864 72.912 3.523 19.121 2.575 56.626 11.838 19.047 4.073 48.231 50.059 29.590 0.859 66.038 13.407 29.155 4.043 72.583 26.566 40.865 1.970 81.184 7.855 41.803 3.458 81.748 (1) Average will not add to the Total Average County Levy because denominators (Assessed Valuation) are not common to all. (2) Municipal Revenues are divided by the sum of Municipal Assessed Valuation. (3) Special District Revenues are dividd by the sum of Special District Assessed Valuation. * These figures include tax increment valuation and all tax revenues attributable to the increment are allocated to the increment 929 July 15, 2021 Petitioner: LONGS PEAK BUSINESS CENTER LLC 7374 S ALTON WAY STE 203 CENTENNIAL, CO 80112-2368 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): STERLING PROPERTY TAX SPECIALISTS INC 950 S CHERRY ST SUITE 320 DENVER, CO 80246 RE: THE BOARD OF EQUALIZATION 2021, WELD COUNTY, COLORADO NOTIFICATION OF HEARING SCHEDULED Docket 2021-2027, AS0109 Appeal 2008230196 Hearing 8/3/2021 8:30 AM Account(s) Appealed: R8945127 Dear Petitioner(s): The Weld County Board of Equalization has set a date of August 3, 2021, at or about the hour of 8:30 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 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 15, 2021 Agent: STERLING PROPERTY TAX SPECIALISTS INC 950 S CHERRY ST SUITE 320 DENVER, CO 80246 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 Petitioner: LONGS PEAK BUSINESS CENTER LLC 7374 S ALTON WAY STE 203 CENTENNIAL, CO 80112-2368 RE: THE BOARD OF EQUALIZATION 2021, WELD COUNTY, COLORADO NOTIFICATION OF HEARING SCHEDULED Docket 2021-2027, AS0109 Appeal 2008230196 Hearing 8/3/2021 8:30 AM Account(s) Appealed: R8945127 Dear Petitioner(s): The Weld County Board of Equalization has set a date of August 3, 2021, at or about the hour of 8:30 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: LONGS PEAK BUSINESS CENTER LLC 7374 S ALTON WAY STE 203 CENTENNIAL, CO 80112-2368 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): STERLING PROPERTY TAX SPECIALISTS INC 950 S CHERRY ST SUITE 320 DENVER, CO 80246 RE: THE BOARD OF EQUALIZATION 2021, WELD COUNTY, COLORADO NOTICE OF DECISION Docket 2021-2027 Appeal 2008230196 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 R8945127 Stipulated - Approved Stipulated Value $4,550,000 $4,458,739 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 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: Petitioner: STERLING PROPERTY TAX SPECIALISTS INC 950 S CHERRY ST SUITE 320 DENVER, CO 80246 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 LONGS PEAK BUSINESS CENTER LLC 7374 S ALTON WAY STE 203 CENTENNIAL, CO 80112-2368 RE: THE BOARD OF EQUALIZATION 2021, WELD COUNTY, COLORADO NOTICE OF DECISION Docket 2021-2027 Appeal 2008230196 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 R8945127 Stipulated - Approved Stipulated Value $4,550,000 $4,458,739 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