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Home My WebLink About20202196.tiffCOUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number R6289486 STIPULATION (As To Tax Year 2020 Actual Value) RE PETITION OF : NAME: PRESTIGE EQUIPMENT LLC ADDRESS: 7753 S WACO ST CENTENNIAL, CO 80016 Petitioner (s) and the Weld County Assessor hereby enter into this Stipulation regarding the tax year 2020 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: 16015-V PT SE4 31-1-66 BEG SE COR W1804.55' TO W R/W LN OF UPRR N13D47'E 2685.46' S89D52'W 211.86' S13047'W 10.30' S89D52'W 316.58' TO TRUE POB S89D52'W 610' S27D40'W 108.159' S16D34'W 452.627' 2. The subject property is classified as commercial property. 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2020 : Total $1,488,364 4. After further review and negotiation, Petitioner (s) and Weld County Assessor agree to the following tax year 2020 actual value for the subject property: Total $1,400,000 5. The valuation, as established above, shall be binding only with respect to tax year 2020 . 6. Brief narrative as to why the reduction was made: Further review of all approaches to value indicated an adjustment. 7. Both parties agree that: The hearing scheduled before the Board of Equalization on 08/03/2020 at 1:30 PM be vacated. nA hearing has not yet been scheduled before the Board of Equalization. 1 OO0-6)t °I Co ASO%O DATED this 3rd day of August , 2020 . 5711 toad Stevens !Poe 3. 202.015:02 MDT) Petitioner(s) or Agent or Attorney Address: 10303 E Dry Creek Road Englewood Telephone: 7205001089 Docket Number R6289486 Stip-1 .Frm (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 Chief Deputy County Assessor Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 400-3650 2 R6289486/Prestige Equipment LLC Final Audit Report 2020-08-03 Created: 2020-08-03 By: TIM REDDICK (treddick@co.weld.co.us) Status: Signed Transaction ID: CBJCHBCAABAACG2nsdffQHw_gEgOhlYXJ2GDnmrDudAY "R6289486/Prestige Equipment LLC" History Document created by TIM REDDICK (treddick@co.weld.co.us) 2020-08-03 - 7:11:43 PM GMT- IP address: 204.133.39.9 Document emailed to TIM REDDICK (treddick@co.weld.co.us) for approval 2020-08-03 - 7:11:45 PM GMT Document approved by TIM REDDICK (treddick@co.weld.co.us) Approval Date: 2020-08-03 - 7:13:49 PM GMT - Time Source: server- IP address: 204.133.39.9 Document emailed to Tim Reddick (treddick@weldgov.com) for approval 2020-08-03 - 7:13:50 PM GMT Email viewed by Tim Reddick (treddick@weldgov.com) 2020-08-03 - 7:14:16 PM GMT- IP address: 204.133.39.9 Document approved by Tim Reddick (treddick@weldgov.com) Approval Date: 2020-08-03 - 7:16:03 PM GMT - Time Source: server- IP address: 204.133.39.9 Document emailed to Jason Marini (appeals@weldgov.com) for signature 2020-08-03 - 7:16:04 PM GMT Email viewed by Jason Marini (appeals@weldgov.com) 2020-08-03 - 7:19:54 PM GMT- IP address: 204.133.39.9 Document e -signed by Jason Marini (appeals@weldgov.com) Signature Date: 2020-08-03 - 7:20:49 PM GMT - Time Source: server- IP address: 204.133.39.9 Document emailed to Brittney Abajian (brittney@stevensandassoc.com) for signature 2020-08-03 - 7:20:51 PM GMT Email viewed by Brittney Abajian (brittney@stevensandassoc.com) 2020-08-03 - 7:22:27 PM GMT- IP address: 73.78.201.252 Adobe Sign TIM REDDICK (treddick@co.weld.co.us) replaced signer Brittney Abajian (brittney@stevensandassoc.com) with todd stevens (todd@stevensandassoc.com) 2020-08-03 - 8:59:53 PM GMT- IP address: 204.133.39.9 Document emailed to todd stevens (todd@stevensandassoc.com) for signature 2020-08-03 - 8:59:53 PM GMT Email viewed by todd stevens (todd@stevensandassoc.com) 2020-08-03 - 9:02:25 PM GMT- IP address: 73.243.38.88 Document e -signed by todd stevens (todd@stevensandassoc.com) Signature Date: 2020-08-03 - 9:02:59 PM GMT - Time Source: server- IP address: 73.243.38.88 Document emailed to Karin McDougal (weld-cboe@weldgov.com) for signature 2020-08-03 - 9:03:00 PM GMT Email viewed by Karin McDougal (weld-cboe@weldgov.com) 2020-08-03 - 9:18:55 PM GMT- IP address: 204.133.39.9 Document e -signed by Karin McDougal (weld-cboe@weldgov.com) Signature Date: 2020-08-03 - 9:19:16 PM GMT - Time Source: server- IP address: 204.133.39.9 Signed document emailed to Jason Marini (appeals@weldgov.com), Tim Reddick (treddick@weldgov.com), TIM REDDICK (treddick@co.weld.co.us), Brittney Abajian (brittney@stevensandassoc.com), and 3 more 2020-08-03 - 9:19:16 PM GMT Adobe Sign Valuation Report of Commercial Property for County Board of Equalization PRESTIGE EQUIPMENT LLC Petitioner vs. Weld County Assessor's Office Respondent Docket Number: 2020-2196 Parcel Number: 1471-31-0-00-051 Schedule Number: R62 89486 Appeal Number: 2008226273 Date: 8/3/2020 Time: 1:30 PM Board: 1 Prepared By Tim 'i eddicy. Assessor's Office Staff Appraiser Assessor's Indicated Value COMMERCIAL $1,488,364 TOTAL: $1,488,364 Or $88 per SF Page 1 Salient Facts and Conclusions Purpose of Appraisal To determine Market Value as of 1/1/20 based on an appraisal date of 6/30/18. Property Rights Appraised Unencumbered fee simple interest Location 12556 COUNTY ROAD 2 1/2 WELD Land Area 346,738 Property Type Commercial Imp # SF Quality Occupancy 1 1 4, 909 Average Warehouse 2 2,100 Average Warehouse Built As Storage Warehouse Service Garage Value Indications: Cost Approach Market Approach Income Approach Class Metal Frame Metal Frame $1,000,720 $1,488,364 $1,585,692 Year Built Yr Rem Stories 1972 1983 $59 per SF Or $88 per SF $93 per SF Final Value $1,488,364 Or $88 per SF 1991 1 N/A 1 Page 2 Description The Subject property is a heavy equipment sales and service facility located at the Northern end of the Brighton City limits. It includes 346,738 square feet or 7.96 acres of land. There are two improvements including a 14,909 square foot storage warehouse with office and a 2,100 square foot service garage. The improvements were constructed in 1972 and 1983 respectively, with the larger improvement being remodeled in 1975 and 1991. Both improvements are average quality. The larger improvement has 10,920 square feet of service space with radiant heat and 3,989 square feet of office space with packaged AC. The office space includes a sales lobby and employee break room. Map of Subject Subject 12556 CR 2.5 Page 3 Improvement # 1 Quality Average Total SF 14,909 Occupancy Description Warehouse Year Blt As Description Class Year Built Remodeled % Service Garage Occupancy % 100% # of Stories SF Metal Frame 1972 1991 10% 1 14,909 PRLSI ICiE Fqu:pr. n?rr, Er::. Nww.prestigeequipme ht net_ nwerur..A ar , a:.uC Fog_3 E... -17 9 ea Tr .wm ri m�. "ill Page 4 Improvement # 2 Quality Average Total SF 2,100 Occupancy Description Warehouse Year Blt As Description Class Year Built Remodeled % Occupancy % 100% # of Stories SF Service Garage Metal Frame 1983 N/A 0% 1 2,100 r T l f lr4 Ni(j •%.fyy0�1 ilM�✓..- •/ M. -"i.'Ii r. n f•- ernMa . 4,40411. Son -•1 qr••S r�YnH� r: �jy •_ • . .4 4 ''r /it. t.fa}1 � � il ir . 1 ►` 75.0' 196010 sr 2U eli reedght Metal' Frame 4�. 150,0 Sf Ur Page 5 Cost Approach Summary The Assessor is currently using Marshall and Swift cost tables for the cost approach of commercial properties in Weld, which has been approved by the Division of Property Taxation to be utilized by Colorado Assessors. The structure has been classified properly utilizing the Marshall and Swift Valuation service and an appropriate value assigned. A land value has likewise been established through the utilization of vacant land sales of comparable properties. The Cost approach is not typically be reflective of value for a property of this age due to the unreliability of estimating depreciation on older improvements. However the uniqueness of the Subject makes the Cost Approach another method of valuation. A Cost Approach is included in this report using the depreciation from Marshall and Swift Valuation Service. Cost Approach Land Value Sales utilized to establish the value in the subject neighborhood are 2017 and 2018 market for the 2020 assessment date. The comparative sales approach is the most reliable method of land valuation. Pursuant to 39-104-(10.2) (c) C. R. S., the Assessor may utilize sales from July 2013 through the current market to establish the proper value, if sufficient information is not available in the prior 18 months. Also, comparables outside the subject property area may be used. The Weld County Assessor has an established ongoing sales confirmation and validation program for property transactions used in developing value. The land size of the subject is 346,738 square feet. Comparable commercial land in the subject area is valued at $2.00 per square foot. If no vacant land sales were available in this area, we utilized the abstraction/allocation method to establish land value. A search of land sales was conducted and the following sales were considered most appropriate due to location, size and visibility. Comparable Comparable Comparable Comparable 1 2 3 4 Situs City 1801 S ROLLIE FORT LUPTON Sale Date Sale Price Net SF $ Per SF 04/24/2018 $5,156,600 2,578,316 $2.00 09/12/2017 13050 COUNTY WELD 05/11/2017 02/26/2016 $3,560,000 $892,700 $849,400 Assessor's Indicated Subject Land Value $693,475 or $2.00 per SF 1,477,120 $2.41 255,044 $3.50 283,140 $3.00 Page 6 Map of Subject and Comparable Land Sales Weld Cost Breakdown Sheet Tax Year: 2020 Imp #: 1 NBHD: Commercial - 4903 - 00 Imp Gross SF: 14,909 Imp Net SF: 0 Quality: Average Perimeter: 616 Condition: CM -Typical Percent Complete: 100% BItAs Order #: HVAC Type: Year Blt: UnAdjBase $/sf: Perim Mult: MH Wall Mult: * Fndation $/sf: Sprinkler $/sf: MH Skirt $: 1 Radiant 1972 38.50 1.0030 1.00 0.00 0.00 0.00 BItAs Desc: Storage Warehouse Exterior/Class: Metal Frame Adj Year Blt: Cost Mult: # Stories Mult: *HVAC $lsf: *Roof $/sf: Sprinkler sf: MH Skirt Inft:: 1974 1.0200 1.0000 0.41 0.00 0 0 * These $/sf Adjustments include all Multipliers Story Ht: Local Mult: Story Ht Mult: *Floor $/sf: *Energy $/sf: Sprinkler RCN: MH Skirt RCN: 23 0.9700 1.1810 0.00 0.00 $0 0.00 BItAs SF: 10,920 No. of Stories: 1.00 BItAs Units: 0 Base $/SF: : MH Tag Mult: * Interior $/sf: Adj Base $/sf: BItAs RCN: 38.09 1.0000 0.00 45.53 $497,188 Total BItAs RCN: $497,188 BItAs Order #: HVAC Type: Year BIt: UnAdjBase $/sf: Perim Mult: MH Wall Mult: * Fndation $/sf: Sprinkler $lsf: MH Skirt $: 2 BItAs Desc: Office Building Package Unit 1972 Adj Year BIt: 97.00 Cost Mult: 0.9580 # Stories Mult: 1.00 *HVAC $lsf: 0.00 *Roof $/sf: 0.00 Sprinkler sf: 0.00 MH Skirt Inft: Exterior/Class: Metal Frame 1982 1.0200 1.0000 3.23 0.00 0 0 * These $/sf Adjustments include all Multipliers Story Ht: Local Mult: Story Ht Mult: *Floor $/sf: *Energy $1sf : Sprinkler RCN: MH Skirt RCN: 14 0.9700 1.0460 0.00 0.00 $0 0.00 BItAs SF: 3,989 No. of Stories: 1.00 BItAs Units: Base $/SF: MH Tag Mult: * Interior $/sf: Adj Base $/sf: BItAs RCN: 0 95.97 1.0000 0.00 99.40 $396,507 Total BItAs RCN: $396,507 AddCode: Detail Type: Detail Description: Units: $/Unit: RCN: Ovrde: Ovrd $ : 1154 Add On Concrete Slab Average 3,600 $5.68 $20,448 $0 1135 Add On Chain Link Fence 8ft 1,800 $25.75 $46,350 $0 995 Add On Loading Wells Excavated Conc 1,120 $14.77 $16,542 $0 4 Add On Asphalt 11,848 $3.05 $36,136 $0 Total Detail RCN = RCN + Override RCN: $119,477 Plumbing Adjust: $0 Rough -In Adjust: $0 Imp Attribute Type: Imp Attribute Description: Imp Attribute Adj: Adjustment Type: Replacement Cost New ($): Percent Complete (x): RCN x Perc Complete ($): Amateur Adj Value (-): Design Adj Value (+): Exterior Adj Value (+): Interior Adj Value (+): Functional Obs Value (-): Economic Obs Value (-): Other Obs Value (-): Physical Depr Value (-): Landscaping Cost (+): Percent $ Amount $1,043,089 100.00% $0 $1,043,089 0.00% $0 0.00% $0 0.00% $0 0.00% $0 0.00% $0 0.00% $0 0.00% $0 73.41% $765,687 $0 Adjustments to RCNLD Factor RCN Less Depr ($): NBHD Adj (x): Market Adjusted Cost (_): Quality Adjustment (x): Property Type Adj (_): Adj Cost before Attrib (_): Total Mult Attrib (x): Total Additive Attrib (+): Final Adjusted Cost (_): $ Amount $277,402 1.00 $0 1.00 $277,402 $0 1.00 $0 $277,402 1.00 $0 $0 $277,402 Page 8 RCN Less Depr (=): $277,402 Condo Percent (x): 100.00% $0 RCNLD x Condo Perc ($): $277,402 Page 9 Imp #: 2 NBHD: Commercial - 4903 - 00 Quality: Average Imp Gross SF: 2,100 Imp Net SF: 0 Perimeter: 252 Condition: CM -Typical Percent Complete: 100% BItAs Order #: 1 BItAs Desc: Service Garage HVAC Type: Year Blt: UnAdjBase $/sf: Perim Mult: MH Wall Mult: *Fndation $/sf: Sprinkler $/sf: MH Skirt $: Space Heater 1983 Adj Year Blt: 47.50 Cost Mult: 1.3400 # Stories Mult: 1.00 *HVAC $/sf: 0.00 *Roof $lsf: 0.00 Sprinkler sf: 0.00 MH Skirt Inft: BItAs SF: 2,100 Exterior/Class: Metal Frame No. of Stories: 1.00 1983 1.0200 1.0000 0.00 0.00 0 0 * These $/sf Adjustments include all Multipliers Story Ht: Local Mult: Story Ht Mult: *Floor $/sf: *Energy $/sf: Sprinkler RCN: MH Skirt RCN: 19 0.9700 1.0860 0.00 0.00 $0 0.00 BItAs Units: Base $/SF: : MH Tag Mult: *Interior $/sf: Adj Base $Isf: BItAs RCN: 0 47.00 1.0000 0.00 68.40 $143,640 Total BItAs RCN: $143,640 AddCode: Detail Type: Detail Description: Units: $/Unit:: RCN: Ovrde: Ovrd $: 24 Add On Concrete Slab 1,390 $4.01 $5,574 $0 Total Detail RCN = RCN + Override RCN: $5,574 Plumbing Adjust: $0 Rough -In Adjust: + $0 $0 Imp Attribute Type: Imp Attribute Description: Imp Attribute Adj: Adjustment Type: Replacement Cost New ($): Percent Complete (x): RCN x Perc Complete ($): Amateur Adj Value (-): Design Adj Value (+): Exterior Adj Value (+): Interior Adj Value (+): Functional Obs Value (-): Economic Obs Value (-): Other Obs Value (-): Physical Dept Value (-): Landscaping Cost (+): RCN Less Depr (=): Condo Percent (x): RCNLD x Condo Perc ($): Percent $ Amount $149,214 100.00% $0 $149,214 0.00% 0.00% 0.00% RCN Less Depr ($): $0 N B H D Adj (x): $0 Market Adjusted Cost (_): $0 0.00% $0 0.00% $0 0.00% $0 0.00% $0 80.00% $119,371 $0 $29,843 100.00% $0 $29,843 Quality Adjustment (x): Property Type Adj (_): Adj Cost before Attrib (_): Total Mult Attrib (x): Total Additive Attrib (+): Final Adjusted Cost (_): Adjustments to RCNLD Factor $ Amount $29,843 1.00 $0 $29,843 1.00 $0 1.00 $0 $29,843 1.00 $0 $0 $29,843 Page 10 Summary of Improvement Values for Cost Approach Imp # 1 2 Grand Total: RCN $1,043,089 $149,214 $1,192,303 RCNLD $277,402 $29,843 $307,245 Actual Cost Value $277,402 $29,843 $307,245 Land Value $693,475 or $2.00 per Land SF + Improvement Value $307,245 or $18 per Improvement SF Total Value by Cost Approach Final Value $1,000,720 or $59 per Improvement SF Page 11 Market Approach Summary Real Property for the tax year 2020 must be valued utilizing data for the period one and one-half years immediately prior to June 30, 2018. If comparable valuation data is not available from such one and one- half year period to adequately determine the level of value for a class of property, the period of five years immediately prior to June 30, 2018 shall be utilized to determine the level of value. The Assessor has appropriately considered the Market Approach to value for the property on appeal. The Sales Comparison Approach was considered in developing a market value for the Subject. Sales used to establish a market value for the tax year 2020 are from January 1, 2017 through June 30, 2018. Pursuant to 39-1-104 (1O.2)(c) C. R. S., the Assessor may utilize sales five years prior to June 30, 2018 to establish the proper value. All sales have been confirmed and verified through transfer declarations as well as interviews with buyers, sellers or their representatives to the sale. All sales used are arm's length transactions, and considered to be the most comparable properties sold in relationship to the Subject property. Comparative Sales Grid PROPERTY SF 1 Comp 2 CompComp Comments' Parcel iris 14713100 3007 liili i 130920200057 120723301008 Address■ 2 1/2 895 N 5th Ave 13739 CR i■ CR 20 14133 CR ■ City Weld Brighton Weli Weld Weld IVIAGNCLIA ENTERPRISESy ■ MICHAEL ■ 1. DON ■ ■ JOANN L, ■ ESSEX CRANERENTAL CORP 'Grantor 'Grantee 528 N WASHINGTONMAREZ LLC ■ ALFRED MAREZ•g 4 i CONCORDRIG Sale Price $1,200,000 31,300,000 S1.500,000 rr S1.830.000 Sale Price $ °I ! $99 VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION Adjustment ■ ■ AdDESCRIPTIONjustmentDESCRIPTION Adjustment Sale 1 2/1612018 r% r i% 5/11/2017 i'. i 812CII2CI13r'■ LocationHvvv ■ nd Hvity ; r°.South ■ r � - Ave and i r CR ■ r i T°. E ■ r . I6 r 1. ■' 9 1/2 North of H 66 r° 1 a 9' i'. 87,120 lin 2.78,784 '. I r% Bldg SF 17,009 r0r 0% 11.500 I. 17,600 0°. 18,400 I. ■ Age 1975 , 19.84 1 2002 . 1999 1 , 1 Quality Average li a aMa r' . y . r . ° ■ y . r . I' ■ yr r . ■ 0% Built i'_ ia Storage Warehouse Storage ia Warehouse 0% Storage t. Warehouse D% Storage VVarehouse 0% Starage VVarehouse 0% NET P r°1 -10% °■ I. i Adjusted Price P SF $100 ,$102 $85 $99 Comparables Price per SF: Range (Min I Max) $85 Comparables Price per SF Median $100 Comparables Price per SF Average $97 $1 J2 $88.00 $1,488,364.00 Page 12 895 N 5th Ave Brighton, CO 80603 Class B Distribution Building of 12,000 SF Sold on 2/16/2018 for $1,200,000 - Research Complete °' "' - ;, .j_ '. -t _ -, r't. GG buyer Jay P. Bruton 1020 Crestview Durango, CO 81301 (303) 913-5328 & - seller M,�4N • t fillVV Leeper & Company 7290 Magnolia St Commerce City, CO 80022 (303) 288-3257; __ - CUSH i WAKEFIELD - -. _ _ _ L ' _ C T vital data Escrow/Contract: Sale Date: Days on Market: Exchange: Conditions: Land Area SF: Acres: $/SF Land Gross: Year Built, Age: Parking Spaces: Parking Ratio: FAR Lot Dimensions: Frontage: Tenancy: Comp ID: 60 days Sale Price: 2/16/2018 Status: - Building SF: No Price/SF: - Pro Forma Cap Rate: 99,752 Actual Cap Rate: 2.29 Down Pmnt: $12.03 Pct Down: 1984 Age: 34 Doc No: - Trans Tax: - Corner: 0.12 Zoning: - No Tenants: - Percent Improved: - Submarket: 4137886 Map Page: Parcel No: Property Type: $1,200,000 Confirmed 12,000 SF $100.00 - 6.40% $465,000 38.8% 4376027 $120 No Industrial 1 - Weld County Ind - 147131003007 Industrial income expense data Listing Broker Pinnacle Real Estate Advisors 1 Broadway Denver, CO 80203 (303) 962-9555 John Emmerling Buyer Broker Cushman & Wakefield 772 Whalers Way Fort Collins, CO 80525 (970) 776-3900 Tyler Murray, Travis Ackerman financing 1st Bank of Hays Bal/Pmt: $735,000 Copyrighted report licensed to Weld County Assessor's Office -1075219. 7/31/2020 Page 13 Page 1 13739 Cr-25.5 Rd Platteville, CO 80651 Class C Warehouse Building of 11,385 SF Sold on 1/18/2018 for $1,300,000 - Research Complete l , a . ; , es - •,. Are-- °.. :, W .NJ {. ., - : ,, , - .z. -- ' buyer .,,ice Ecksti ne Electric Company 18789 Cr-25.5 Rd Platteville, CO 80651 (970) 785-0601 - ;. , Al...' -. { I II .. iT - - ' seller Eckstine Michael O 1814 State Highway 66 Longmont, CO 80504 (303) 468-0465 vital data Escrow/Contract: Sale Date: Days on Market: Exchange: Conditions: Land Area SF: Acres: $/SF Land Gross: Year Built, Age: Parking Spaces: Parking Ratio: FAR Lot Dimensions: Frontage: Tenancy: Comp ID: - 1/18/2018 - No - 87,120 2 $14.92 2002 Age: 16 20 1.76/1000 SF 0.13 - - Single 4118020 Sale Price: Status: Building SF: Price/SF: Pro Forma Cap Rate: Actual Cap Rate: Down Pmnt: Pct Down: Doc No: Trans Tax: Corner: Zoning: No Tenants: Percent Improved: Submarket: Map Page: Parcel No: Property Type: $1,300,000 Confirmed 11,385 SF $114.19 - - - - 4368547 - No - 1 77.3% Weld County Ind - 121130000029 Industrial income expense data Listing Broker Expenses - Taxes - Operating Expenses Total Expenses $10,003 $10,003 Buyer Broker financing 1st Wells Fargo Bal/Pmt: Bank $1,040,000 Copyrighted report licensed to Weld County Assessor's Office -1075219. 7/31/2020 Page 14 Page 2 13066 Tote Fort Class for$1,500,O00 County -A -Shed Lupton, CO C Warehouse - Road 20 80621 Building of 17,600 SF Sold on 5/15/2017 Research Complete r buyer Alfred R & Pamela K Marez 1953 Dominica Ct Windsor, CO 80550 •— - '-Ay � tiM r 1 seller Don L & 6365 County Fort Lupton, (303) 857-1809 Joann R Espinoza Road 23 CO 80621 _ , < < ',,, vital data Escrow/Contract: Sale Date: Days on Market: Exchange: Conditions: Land Area SF: Acres: $/SF Land Gross: Year Built, Age: Parking Spaces: Parking Ratio: FAR Lot Dimensions: Frontage: Tenancy: Comp ID: - Sale Price: $1,500,000 5/15/2017 Status: Confirmed - Building SF: 17,600 SF No Price/SF: $85.23 - Pro Forma Cap Rate: - 278,784 Actual Cap Rate: - 6.4 Down Pmnt: - $5.38 Pct Down: - 1999 Age: 18 Doc No: 4301990 20 Trans Tax: - 1.14/1000 SF Corner: No 0.06 Zoning: - - Percent Improved: 76.6% - Submarket: Weld County Ind Multi Map Page: - 3927667 Parcel No: 130920200057 Property Type: Industrial income expense data Listing Broker No Listing Broker on Deal Buyer Broker No Buyer Broker on Deal financing prior sale 1st Bank of Colorado Bal/Pmt: $1,632,000 Date/Doc No: 1/7/2010 Sale Price: $800,000 ComplD: 1857495 Copyrighted report licensed to Weld County Assessor's Office -1075219. 7/31/2020 Page 15 Page 3 14133 County Sekich Business Longmont, CO 80504 Class B Warehouse for$1,830,000 - Road 9.5 Park Building of 18,400 SF Sold on 8/21/2013 Research Complete J - _ - i T it ' _ at N buyer Concord Rig Services 14133 County Road 9.5 Longmont, CO 80504 (970) 353-0175 � 1 .. • e P, - - ;%_ .,.�-� 4. - . _ ,. der I seller L Essex Crane Rental Corporation 1110 Lake Cook Rd Buffalo Grove, IL 60089 (847) 215-6500 vital data Escrow/Contract: - Sale Date: 8/21/2013 Days on Market: 449 days Exchange: No Conditions: - Land Area SF: 217,800 Acres: 5 $/SF Land Gross: $8.49 Year' Built, Age: 1982 Age: Parking Spaces: - Parking Ratio: 0/1000 SF FAR 0.08 Lot Dimensions: - Frontage: - Tenancy: Single Comp ID: 2822336 Sale Price: Status: Building SF: Price/SF: Pct Office: Pro Forma Cap Rate: Actual Cap Rate: Down Pmnt: 31 Pct Down: Doc No: Trans Tax: Corner: Zoning: Percent Improved: Submarket: Map Page: Parcel No: Property Type: $1,830,000 Confirmed 18,400 SF $100.54 15.0% - - $1,830,000 100.0% 3958870 $185 No - 48.5% Weld County Ind - 120723001003 Industrial income expense data Listing Broker SVN I Denver Commercial Sears Real Estate 2032 Lowe St 2021 Clubhouse Dr Fort Collins, CO 80525 Greeley, CO 80634 (970) 207-0700 (970) 330-7700 Kate Struzenberg Ryan Andre Buyer Broker Cushman & Wakefield 772 Whalers Way Fort Collins, CO 80525 (970) 776-3900 Travis Ackerman financing Copyrighted report licensed to Weld County Assessor's Office -1075219. 7/31/2020 Page 16 Page 4 Comparable property 1 is a storage warehouse located approximately one block from the subject, at Ida St and N Sth Ave in Brighton. It is smaller than the subject and on a smaller parcel, and otherwise similar. Adjustments were made for the smaller building size and difference in land utility. Comparable property 2 is a storage warehouse located approximately 13 miles North of the subject, at 1/2 mile South of Hwy 66 on CR 25 1/2 (Main St) in Platteville. It is smaller than the subject and on a smaller parcel, and otherwise similar. Adjustments were made for the smaller building size and difference in land utility. Comparable property 3 is a storage warehouse located approximately 9 miles North of the subject at CR 20 and Highway 85. This location is North of Fort Lupton and South of Platteville. It is similar to the subject. Comparable property 4 is a storage warehouse located approximately 22 miles Northwest of the subject at CR 9 1/2 and Hwy 66 in Mead. This location is North of Hwy 66 and East of I- 2 5. It is similar to the subject Comparable properties 3 and 4 are most similar to the Subject and bracket the value indicated by the Market Approach. Based upon investigation and analysis, it is the opinion of the appraisers that the value of $L488,364 or$88 per SF accurately reflects the market value of the subject property. Value As Indicated By Market Approach $1,488,364 or $88 per SF Page 17 Map of Subject and Market Comparable properties Fires tone GlYnCrti 1 Comp 4 14133 CR 9.5 Subject F I Wttit art LIAptari Comp 2 13739 CR 25.5 Comp 3 13066 CR 20 Page 18 Income Approach To Value The basic steps in the Income Approach to value for commercial properties in mass appraisal are based on a landlord -tenant situation and not on the income of the actual business. In using this approach, it eliminates the possibility of valuing management as opposed to the potential income of the structure. This is the proper method Assessor's must utilize through the Directives of the Division of Property Taxation. Income Approach Steps 1. Estimate potential gross income to the landlord. 2. Deduct typical vacancy and collection loss. 3. Add additional miscellaneous income. 4. Determine typical landlord operating expenses. 5. Deduct operating expenses to determine the landlord's operating income. 6. Determine a proper capitalization rate. 7. Capitalize the net income into an estimated property value. Research has been done by the Assessor to determine the typical rent by location, type of structure and the property use. The Weld County Assessor's office has also researched the typical landlord expenses, additional income based on the type of business, and vacancy and collection loss. An Income Approach has been completed for the subject. The Weld County Assessor has appropriately considered the Income Approach to value for the Subject property on appeal. The Assessor has gathered income information from local commercial properties for the time frame of January 1, 2017 through June 30, 2018. This information, combined with statewide and industry -wide data, is used to determine typical income and expenses for various property types. The cap rate was derived from the Burbach & Associates Real Estate Investment Survey Summer of 2018 considering the average of office and special use properties. In conclusion of the Income Approach, the Assessor has considered both groups of data and has put more emphasis on the local factors and data than the state and national data. This information was then applied to the subject property to arrive at an appropriate Income Approach Value. Total Value by Income Aproach $1,585,692 or $93 per SF Page 19 Market Income Worksheet Property Pro Forma (NNIN) Size in SF 17 DOD Units Annual PSF Revenue +) Base Rental Income (F I) 136,012. WOO (_4 General Vacancy 5% 6,8O4 O.4O Effective Gross Income (EGI) 129,268 7.60 Expenses 0-0 Management 3% 3,878 O..2.3 (-) Reserves 5% 6,463 O.38 Total Expenses 10,341 0.61 Net Operating Income (NOI) 118,927 6.99 Imitated Property Value (NOWCAP Rate) 1,585,692 93 Market CAP Rate L_50% Comparable Market Leases City Bldg Size Net Income PSF Brighton 12,000 12.5O Brighton 17,91D 1O58 Brighton 12,767 7.99 Brighton 15,OOD 6.41 Fort Lupton 15,175 5.2O Page 20 Conclusion Real property for tax year 2020 must be valued utilizing the level of value for the period of one and one- half years immediately prior to July 1, 2018. Except that, if comparable valuation data is not available from such one -and one -half -year period to adequately determine the level of value of a class of property. The period of five years immediately prior to June 30, 2018 shall be utilized to determine the level of value. Said level of value shall be adjusted to the final day of the data gathering period. Changes occurring between base years are not to be accounted for until the following level of value is implemented, other than additions, change in use, detrimental acts of nature, damage due to fire, etc., or creation of a condominium, or any new regulations restricting or increasing the use of the land, or a combination thereof. {39-1-104(11)(b)(1) C. R .S.} The subject property has been classified as Commercial Property for assessment purposes. Commercial property value shall be determined by appropriate consideration of the Cost Approach, Market Approach, and Income Approach to value. {39-1-103(5)(a) C. R. S.} The Assessor has considered all three approaches to value for the subject parcel on appeal. Final Reconciliation After consideration of the cost, market and income approaches, it is the Weld County Assessor's opinion that the value of $1,488,364, most accurately reflects the value of the subject property in Weld County for the 2020 tax year. Cost Approach Market Approach Income Approach $1,000,720 $1,488,364 $1,585,692 $59 per SF $88 per SF $93 per SF Assessor's Indicated Value COMMERCIAL $1,488,364 TOTAL: $1,488,364 Or $88 per SF Page 21 NOTICE OF DETERMINATION Brenda Dones Weld County Assessor 1400 N 17th Ave Greeley, CO 80631 RECEIVED JUL 17 2020 WELD COUNTY COMMISSIONER; Date of Notice: 6/26/2020 Telephone: (970) 400-3650 Fax: (970) 304-6433 Office Hours: 8:00AM - 5:00PM ACCOUNT.NO._ : .. TAX.YEAR <-TAX`AREA LEGAL DESCRIPTION/ PHYSICAL.LOCATION>::.:. R6289486 2020 2522 16015-V PT SE4 31-1-66 BEG SE COR W1804. 55' TOW RAW LN OF UPRR N13D47'E 2685.46 ' S89D52'W 211.86' S13D47'W 10.30' S89O5 2'W 316.58' TO TRUE POB S89D52'W 610' S2 7D40'W 108.159' S16D34'W 452.627' E659.1 33' N17D11'E 332.191' TO BEG OF CURVE TO 12556 COUNTY ROAD 2 1/2 WELD PROPERTY OWNER PRESTIGE EQUIPMENT LLC 7753 S WACO ST CENTENNIAL, CO 80016-1879 PROPERTY CLASSIFICATION . ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE: AFTER REVIEW COMMERCIAL 1,488,364 1,488, 364 TOTAL 1,488,364 1,488,364 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: CM05 - The law requires that data from Jan 2017 to June 2018 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): STEVENS & ASSOCIATES INC 10303 E DRY CREEK RD STE 240 ENGLEWOOD, CO 80112-1662 15 -OPT -AR PR 207-08/13 R6289486 2020-2196 A5O1OO, APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 27th through August 3rd 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/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, fax 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. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2018? (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.) $ 720,000 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.) The Assessor did not properly consider the Market, Cost and/or Income approach to value. or aspects of the property. ATTESTATION I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein and on any attachments hereto are true and complete. Signature RobynD@StevensandAssoc.com Email Address 303-347-1878 Telephone Number ' Attach letter of authorization signed by property owner. 07/01/2020 Date 15-DPT-AR PR 207-08/13 R6289486 STEVENS &ASSOCIATES SPECIALISTS IN: PROPERTY, SALES & USE TAX REDUCTIONS 10303 East Dry Creek Road, Suite 240, Englewood, Colorado 80112 July 15, 2020 Weld County Board of Equalization 1150 O Street, PO Box 758 Greeley, CO 80631 Dear County Board: Please find enclosed our 2020 Real Property Tax Appeals for the following properties: Owner of Record Name Property Address Parcel ID Account/Schedule ID PRESTIGE EQUIPMENT LLC 12556 County Rd 2 1/2 147131000051 R6289486 Please call Robyn to schedule the hearings at: (303) 347-1878. Any date works for the hearings but if possible, please schedule after 9 A.M. If you should have any questions regarding these appeals, please feel free to call our office. Sincerely, Todd J. Stevens President STEVENS • ASSOCIATES SPECIALISTS IN PROPERTY. SALES S USE TAX REDUCTIONS Property Tax Consultant - Agency Agreement Owner Address: 7753 S Waco St, Centennial, CO 80016 Property Address/Legal Description/Schedule #, See Attached Exhibit A Consultant/Agent: Stevens & Associates Cost Reduction Specialists, Inc. l/We PAGLIONE JOHN M, PAGLIONE LOIS A, PRESTIGE EQUIPMENT LLC, subsidiaries, parent companies and all affiliated companies agree with Stevens & Associates Cost Reduction Specialists, Inc. that for the property tax/sales and use tax assessment years 2020, 2021 and prior years, in Colorado as the property referred to above, that Stevens & Associates Cost Reduction Specialists, Inc. is hereby engaged and authorized to act as agent and consultant before either the Board of review as well as the State Tax Review Board or for any hearing pertinent to the property for the property tax/sales and use tax assessment years 2020, 2021 and prior years. Please direct all correspondence and refunds to Stevens & Associates Cost Reduction Specialists, Inc. The undersigned further authorizes Stevens & Associates Cost Reduction Specialists, Inc. as agent of the undersigned, in the name of the undersigned, to execute and cause to be filed on behalf of the undersigned, in the name of the undersigned, any and all documents relating to an appeal of the said assessments, for the assessment years in question and prior years, before either the Board of review as well as the State Tax Review Board or any hearings pertinent to the property. sk. Thus, done and executed on this day of June 2019, Agreed By: PAGLIONE 041 N "AG E LOIS A PRESTIGE EQUIPMENT LLC hone I le: Managi mber Please direct all correspondence/refunds to: Stevens & Associates / Inc, 10303 East Dry Creek Road, Ste 240 Englewood, Colorado 80112 {Notary column needs to be complete} STATE OF 00 f op'k,; , The foregoing instrument was acknowledged before me This , -1 Si day of "j1( rite_ , .2 ) /1 By: John Papfione Witness my hand and of foal seal. my commission expires .20 /I 2.. Page I of 5 Notary PuWlc Notary S gnaWn: (J STEVENS ASSOCIAT S SPECIALISTS IN PROPERTY, SALES S USE TAX REDUCTIONS Exhibit A Owner Name Address Assessor Parcel ID Account PAGLIONE JOHN M, PAGLIONE LOIS A 7753 S Waco St (Residential) Arapahoe 2073-33-1-03- 002 031743508 PRESTIGE EQUIPMENT LLC 12556 County Rd 2 1/2 Weld 147131000051 R6289486 Page 5 of 5 rrAssoc ates,E DIT Creek Rd jam' ;lib 240 food,CO Bona i 11 i i 7017 0660 0000 5639 5667 IIII Cpu k.15O o. siY44e+s U.S. POSTAGE $8.00 FCMF 0023 Orig. 80112 W 07/14/20 6 2000052008 Q O (113 STEVENS &ASSOCIATES SPECIALISTS IN: PROPERTY. SALES 8 USE TAX REDUCTIONS July 15, 2020 Weld County Board of Equalization Office 1150O St Greeley, CO 80631 RE: SB 11-119 - 2020 Real Property Tax Appeal; Owner Occupied Dear County Board: The following property is owner occupied; therefore, no documents are required. RECEIVED JUL 2 0 2020 WELD COUNTY COMMISSIONERS Owner: PRESTIGE EQUIPMENT LLC Address: AIN: PIN: 12556 COUNTY ROAD 2 '/z I R6289486 I 147131000051 This information is being submitted, satisfying the requirements of SENATE BILL 11-119. Feel free to contact me with any questions or concerns. Sincerely, Joyce Zee Accounting Manager Direct (720) 500-1084 Main (303) 347-1878 Fax (303) 347-9242 Email JoyceL@stevensandassoc.com Stevens & Associates Cost Reduction Specialists, Inc. 10303 E Dry Creek Rd, Suite 240 Englewood, CO 80112 T: (303) 347-1878 l F: (303) 347-9242 A3o oca Stevens ex Associates, Ines 10303 E pry Creek Rd Suite 240 Englewood, CO 80112 i i i i i i i 7019 2280 0001 9181 1312 CPU U.S. POSTAGE $8.00 FCMF F 0023 Orig: 80112 w 07/15/20 m 2000052008 o wad 220istf &boldithiso //5-r) sine, qreeiceri to go3/ r # �tf ; t �t! ;tl f�i!l�+r f�lFt FFl�itti�dij 'jf Ft ti i € N July 17, 2020 Petitioner: PRESTIGE EQUIPMENT LLC 7753 S WACO ST CENTENNIAL, CO 80016-1879 CLERK TO THE BOARD PHONE (970) 400-4226 FAX (970) 336-7233 WEBS ITE: www.weldgov.com 1150 O STREET P.O. BOX 758 GREELEY CO 80632 Agent (if applicable): STEVENS & ASSOCIATES INC 10303 E DRY CREEK RD STE 240 ENGLEWOOD, CO 80112-1662 RE: THE BOARD OF EQUALIZATION 2020, WELD COUNTY, COLORADO NOTIFICATION OF HEARING SCHEDULED Docket 2020-2196, AS0106 Appeal 2008226273 Hearing 8/3/2020 1:30 PM Account(s) Appealed: R6289486 Dear Petitioner(s): The Weld County Board of Equalization has set a date of August 3, 2020, at or about the hour of 1:30 PM, 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, 2020, 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 LPLIs./o:yf G'i. Esther E. Gesick Clerk to the Board Weld County Board of Commissioners and Board of Equalization cc: Brenda Dones, Assessor July 17, 2020 Petitioner: PRESTIGE EQUIPMENT LLC 7753 S WACO ST CENTENNIAL, CO 80016-1879 RE: THE BOARD OF EQUALIZATION 202 NOTIFICATION OF HEARING SCHE[ Docket 2020-2196, AS0106 Appeal Account(s) Appealed: R6289486 Dear Petitioner(s): The Weld County Board of Equalization has 1:30 PM, to hold a hearing on your valuation County Administration Building, Assemble, You have a right to attend this hearing and p County Assessor or his designee will be pre the record made at the aforementioned heE interest to have a representative present. If at your hearing, prior to the hearing you shall authorization for the agent or attorney to repr a decision will still be made by the Board by you within five (5) business days. Because of the volume of cases before the E minutes. Also due to volume. cases canny evidence to support your position. This ma valued less than yours or you are being asse The fact that your valuation has increas documented evidence as indicated above, th; If you wish to discuss your value with the A; you wish to obtain the data supporting the i written request to assessor@weldgov.com. notify you of the estimated cost of providing Assessor providing such information, at whic three (3) working days, subject to any confidk Please advise me if you decide not to ke additional information, please call me at your `" ON � w CD Z o N ar_ o o_, w c, Q (re t\ Ito) O o cep o g:t o 0 N pN 0 a Q O CO wF— M w00 oCC Li) F_ co OO mom PTO O r a. GREELEY CO 80632-0758 CLERK TO THE BOARD PHONE (970) 400-4226 CAY Iamva 772 r4 CI Z w Mt Li L..1 M'0 CM N Z 03 ;Z H H Z Int DJ 11_ X L__ 03 w H Ia- n oa ::uiO N U -J t93a4 t�► Hl ( ii UJ ED F - Eteefl;i_ 0n_rttJ 1.1.... rAt. to IFS NSONWO SSW NOM Salki SUS a- NIES . S. S• pieb -S. 01 A I• . M • •4 UQ 0.1 0 t. 03 ...., ... .... July 17, 2020 Agent: Petitioner: STEVENS & ASSOCIATES INC 10303 E DRY CREEK RD STE 240 ENGLEWOOD, CO 80112-1662 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 PRESTIGE EQUIPMENT LLC 7753 S WACO ST CENTENNIAL, CO 80016-1879 RE: THE BOARD OF EQUALIZATION 2020, WELD COUNTY, COLORADO NOTIFICATION OF HEARING SCHEDULED Docket 2020-2196, AS0106 Appeal 2008226273 Hearing 8/3/2020 1:30 PM Account(s) Appealed: R6289486 Dear Petitioner(s): The Weld County Board of Equalization has set a date of August 3, 2020, at or about the hour of 1:30 PM, 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, 2020, 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 3, 2020 Petitioner: PRESTIGE EQUIPMENT LLC 7753 S WACO ST CENTENNIAL, CO 80016-1879 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 Agent (if applicable): STEVENS & ASSOCIATES INC 10303 E DRY CREEK RD STE 240 ENGLEWOOD, CO 80112-1662 RE: THE BOARD OF EQUALIZATION 2020, WELD COUNTY, COLORADO NOTICE OF DECISION Docket 2020-2196 Appeal 2008226273 Hearing 8/3/2020 1:30 PM 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 2020. Account # Decision The Assessment and valuation is set as follows: Actual Value as Actual Value as Set by Determined by Assessor Board R6289486 Stipulated - Approved Stipulated Value $1,488,364 $1,400,000 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, 2020, MUST comply with the following provisions of C.R.S. §39-8-107(5): (5)(a)(I) On and after August 10, 2020, 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 subparagraph (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) All of the underlying data used by the county in calculating the value of the subject property that is being appealed, including the capitalization rate for such property; and (B) The names of any commercially available and copyrighted publications used in calculating the value of the subject property. (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 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 August 3, 2020 Petitioner: PRESTIGE EQUIPMENT LLC 7753 S WACO ST CENTENNIAL, CO 80016-1879 RE: THE BOARD OF EQUALIZATION 2020, NOTICE OF DECISION Docket 2020-2196 Appeal 2001 Dear Petitioner: On the day indicated above, the Board of Count acting as the Board of Equalization, pursuant to the Weld County Assessor's valuation of your pi Account # Decision The Assessment Ac' Determi R6289486 Stipulated - Approved Stipulated Value A denial of a petition, in whole or in part, by the days of the date the denial is mailed to yo options for appeal: 1. Appeal to Board of Assessment AppealE Equalization's decision to the Colorado will be the last time you may present to support of your valuation. If the decision the Court of Appeals pursuant to C.R.5 hearing before the Board of Assessmer court. All appeals to the Board of Assessment App following provisions of C.R.S. §39-8-107(5): (5)(a)(I) On and after August 10, 2020, in ads CLERK TO THE BOARD PHONE (970) 400-4226 FAX (970) 336-7233 WFRSITF• w U.S. POSTAGE» PITNEY BOWES I 0 0 O0 0 di' � oQ M O co co mzt. 0 N a' N 0 N O O O a O CO LU 0 co 0 W E- co = w O w Ou-co U YOOW w0mw Ln 0 C O T Q CD u • Wok l). __ M -- GSSen �M. ant See —S.». SISY SFS +.A ASS IS SO: .S SIPS OS .:_-. SUSS ...n.. —• MSa• sae _..ti siSal r.r.rr MSS as SIN`_. rya. a r. arms. I Lao tilo ...t) .r4 C) C. .M• «. August 3, 2020 Agent: STEVENS & ASSOCIATES INC 10303 E DRY CREEK RD STE 240 ENGLEWOOD, CO 80112-1662 Petitioner: 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 PRESTIGE EQUIPMENT LLC 7753 S WACO ST CENTENNIAL, CO 80016-1879 RE: THE BOARD OF EQUALIZATION 2020, WELD COUNTY, COLORADO NOTICE OF DECISION Docket 2020-2196 Appeal 2008226273 Hearing 8/3/2020 1:30 PM 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 2020. Account # Decision The Assessment and valuation is set as follows: Actual Value as Actual Value as Set by Determined by Assessor Board R6289486 Stipulated - Approved Stipulated Value $1,488,364 $1,400,000 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, 2020, MUST comply with the following provisions of C.R.S. §39-8-107(5): (5)(a)(I) On and after August 10, 2020, 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 subparagraph (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) All of the underlying data used by the county in calculating the value of the subject property that is being appealed, including the capitalization rate for such property; and (B) The names of any commercially available and copyrighted publications used in calculating the value of the subject property. (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 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 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