HomeMy WebLinkAbout20201944.tiffCOUNTY BOARD OF EQUALIZATION
WELD COUNTY
Single County Schedule Number R8929000
STIPULATION (As To Tax Year 2020 Actual Value)
RE PETITION OF :
NAME: 5K LLC
ADDRESS: 1043 Willow Creek Cir
Longmont, CO 80503-7592
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:
FRE 4GBP L2 BLK2 GLACIER BUSINESS PARK 4TH FG
3768 Eureka Way, Frederick
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 $1,714,608
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 $1,600,000
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:
After further review of all approaches to value, an adjustment was indicated.
7. Both parties agree that:
,1The hearing scheduled before the Board of Equalization on 7/30/2020
at 1:30 pm be vacated.
[TA hearing has not yet been scheduled before the Board of Equalization.
O0a)- (9(1H
ASOIOCo
DATED this 20th day of ,July , 2020 .
Petitioner(s) or Agent or Attorney
Address:
10000 Innovation Drive
Suite 250
Milwaukee, WI 53226
Telephone: (262) 225-1784
Docket Number R8929000
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
R8929000/5K LLC
Final Audit Report
2020-07-21
Created: 2020-07-20
By: MILLIE CHANNELL (mchannell@co.weld.co.us)
Status: Signed
Transaction ID: CBJCHBCAABAAd9n5HvmNAhuRG2Ncyf_cf3YUXM3ZWdwE
"R8929000/5K LLC" History
`J Document created by MILLIE CHANNELL (mchannell@co.weld.co.us)
2020-07-20 - 3:01:34 PM GMT- IP address: 204.133.39.9
Document emailed to MILLIE CHANNELL (mchannell@co.weld.co.us) for approval
2020-07-20 - 3:01:36 PM GMT
Document approved by MILLIE CHANNELL (mchannell@co.weld.co.us)
Approval Date: 2020-07-20 - 3:05:20 PM GMT - Time Source: server- IP address: 204.133.39.9
L Document emailed to Wade Melies (wmelies@co.weld.co.us) for approval
2020-07-20 - 3:05:21 PM GMT
Email viewed by Wade Melies (wmelies@co.weld.co.us)
2020-07-20 - 3:28:50 PM GMT- IP address: 204.133.39.9
LA). Document approved by Wade Melies (wmelies@co.weld.co.us)
Approval Date: 2020-07-20 - 3:29:05 PM GMT - Time Source: server- IP address: 204.133.39.9
Document emailed to Jason Marini (appeals@weldgov.com) for signature
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Document e -signed by Jason Marini (appeals@weldgov.com)
Signature Date: 2020-07-20 - 5:35:19 PM GMT - Time Source: server- IP address: 204,133.39.9
Document emailed to Chad Zeznanski (czeznanski@wipfli.com) for signature
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A:). Document e -signed by Chad Zeznanski (czeznanski@wipfli.com)
Signature Date: 2020-07-21 - 1:14:25 PM GMT - Time Source: server- IP address: 75.7.23.174
Document emailed to Karin McDougal (weld-cboe@weldgov.com) for signature
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rJ� Document e -signed by Karin McDougal (weld-cboe@weldgov.com)
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et Signed document emailed to Chad Zeznanski (czeznanski@wipfli.com), Karin McDougal (weld-
cboe@weldgov.com), Jason Marini (appeals@weldgov.com), MILLIE CHANNELL (mchannell@co.weld.co.us),
and 2 more
2020-07-21 - 4:38:39 PM GMT
Adobe Sign
Thank you for submitting an appeal to the Weld County Board of Equalization. We will review the
information submitted and you will receive a date to appear before the board.
Contact Information:
Contact Name: Chad Zeznanski
Contact Email: sameen@wipfli.com
Contact Phone: 262-225-1784
Appeal Submitted: 02:25 PM June 26, 2020
Appeal submitted for:
R8929000 - 5K LLC
3768 EUREKA WAY, FREDERICK
Legal: FRE 4GBP L2 BLK2 GLACIER BUSINESS PARK 4TH FG
Reason: Value Too High - The subject property's 2020 assessed value exceeds the
subject's fair market value as of June 30, 2018.
Estimate of Value: $1,030,000.00
Document(s) Submitted:
Account: All Accounts - Signed AL.pdf
Account: R8929000 - I&E - 5k, 3768 Eureka Way, Frederick, CO.pdf
Account: R8929000 - Untitled Extract Pages.pdf
Account: R8929000 - R8929000 INITIAL PROTEST.pdf
You have selected the following Date Preferences:
Thursday, July 30, 2020, from 1:30-4:00 p.m.
Monday, August 3, 2020, from 1:30-5:00 p.m.
The Appeal process can take several weeks for us to complete. You will receive a written decision
on your appeal within five (5) working days of your hearing.
We thank you for your submittal.
Weld County Board of Equalization
2020-1944
ASO 1 0CO
Agent Authorization — Property Assessment
(Please print or type)
Part 1 I Property Owner's Name
Spouse Name
---
Date
April 20, 2020
5K, LLC
Property Owner's Address (number end street)
1043 Willow Creek Circle
Spouse Address (If different from taxpayer)
--
Telephone Number — Daytime
( — )
City, State, and Zip Code
Longmont, CO 80503
City, State, and Zip Code
---
E-mail Address
—
Parcel number
146703113002
Parcel Address
3768 Eureka Way, Frederick, Colorado
Personal Property Account Name:
Part 2 I I hereby authorize the following
individual(s) to act as my agent to represent me in property tax assessment
specified above.
matters concerning the property
Name
Address
Telephone Number
Chad Zeznanski
10000 Innovation Drive, Suite 250, Milwaukee, WI 53226
( 262 ) 225-1784
( )
( )
Part 3 I This authorization expires:
/ / 51 1 Does not expire
until I revoke it in writing
on thy behalf.
appeal of this
to my property and
original.
that I have the power to
I understand, agree and -accept:
• The as,sesser's suffice may divulge
• My agent has the authority and
• I will provide all information I
property.
• Signing this document does not
paying taxes, or penalties for
• A photocopy and/or faxed copy
• If signed by a corporate of58er-,
execute this Agent Authorization
• MM / DD / YYYY
.
any information it may have on ale concerning thia property:
my permission to accept a subpoena concerning this property
have that will assist in the discussion and resolution of any assessment
relieve me of personal responsibility for timely reporting changes
failure to do so, as provided under Wisconsin tax law.
of this completed form has the same authority as a signed
partner, or fiduciary on behalf of the taxpayer, I certify
form.
Part 4 I Send notices and other written
communications to: x Authorized Agent OR
any notices and written communications will be sent
If the property owner box is checked, any notices and
owner. If no box is checked or both boxes are checked,
to the property owner.
Property Owner
to only the Authorized
written communications
any notices and written
► I understand, agree, and accept:
If the Authorized Agent box is checked,
Agent, except as required by statute.
will be sent to only the property
communications will be sent only
Part 5
Signature �
X"' vjh-,-L.-ls
Title 4� 'I... Z. �
/4'%a. 7z.,�c� f/,...r4.
O
Date
./.701,/Z....0Z.23
Signature
Title
Date
This authorization is not valid unless signed by the individual(s), corporate officer, partner or fiduciary.
yc
A Summary Appraisal
Industrial Office/Warehouse Property
3768 Eureka Way
Fredrick, CO 80516
Prepared for: Mr. Bob Novak
Guaranty Bank and Trust Company
856 Happy Canyon Road
Castle Rock, CO 80108
Appraisal Date: October 30, 2012
Valuation Date: Market Value "As Is" —November 7, 2011
CVC File #14453
November 7, 2012
Mr. Bob Novak
Guaranty Bank and Trust Company
856 Happy Canyon Road
Castle Rock, CO 80108
Re: CVC File #14453
Industrial Office/Warehouse Property
3768 Eureka Way
Fredrick, CO 80516
Dear Mr. Novak,
At your request (per the engagement letter found in the addenda of this report), we have prepared a Summary
Appraisal of the above -referenced property.
The subject is a single -tenant industrial office/warehouse property located at 3768 Eureka Way within the Glacier
Business Park, in the Town of Fredrick, Weld County, Colorado. The subject is improved with two buildings, an
office building and a warehouse building, which total 15,876 square feet of gross building area. The office building
is located on the southern portion of the property and contains 5,236 square feet (33% of total) on one floor. The
warehouse building is located on the northwestern portion of the property and contains 10,640 square feet on one
floor. The warehouse also includes a small unfinished mezzanine -level storage area that is not counted as part of
the total gross building area. The improvements were constructed in 2004 and are situated on a 95,760 square
foot (2.20 acre) site. Access to the subject is available from Eureka Way, a secondary thoroughfare. The site is set
back from Eureka Way with an adjacent property between the subject and the street. Access to the subject is
available from a private drive belonging to the subject, and through the parking lot of the neighboring property via
an access easement. The subject's limited street visibility does not appear to adversely affect vehicular access or
general functionality of the property.
As of the valuation date of this report, 5K, LLC owns the subject property. To the best of our knowledge, the
subject is not currently encumbered by a sale contract, nor is it listed for sale on the open market.
The purpose of the appraisal is as follows:
• We have personally inspected the subject site and improvements, and have analyzed market data in order to estimate the
market value of the Fee Simple Estate of the subject "As Is" as of November 7, 2011 (the effective date of value).
• It is the understanding of the appraisers that the report will be used for loan underwriting purposes.
This Appraisal in a Summary report format is written to comply with the reporting requirements as set forth under
standards rule 2-2(b) of Uniform Standards of Professional Appraisal Practice (USPAP) promulgated by the
Appraisal Standards Board. The report contains summary discussion of the data, reasoning, and analyses that
were used to develop the opinion of value. It also includes summary descriptions of the subject property, the
property's locale, the market for the property type, and the appraiser's opinion of highest and best use. Any data,
reasoning, and analyses not discussed in this summary report are retained in the appraiser's work file.
This report has been written in accordance with the Code of Ethics and the Standards of Professional Practice of
the Appraisal Institute. In addition, this report is intended to be in compliance with the minimum standards of the
Uniform Standards of Professional Appraisal Practice, FIRREA and any additional standards of our clients, Mr. Bob
Novak and Guaranty Bank and Trust Company. Our clients, their successors and/or assigns may read and rely upon
the findings and conclusions of this report.
commercial valuation consultants
5395 wvesr 25th averue. cenver, co 8021,1 p: 303.420.1052 1. 303.432.8236 Iris cvcapprui5.al COI7i
c r c
Mr. Bob Novak
GUARANTY BANK AND TRUST COMPANY
PAGE 2
Note: Our estimate of market value is subject to the following Hypothetical Conditions, Extraordinary
Assumptions, and/or atypical assumptions:
Hypothetical Conditions: None
Extraordinary Assumptions: None
Atypical Assumptions:
Our estimate of market value is subject to certain standard assumptions and limiting conditions that are
referenced in this report. In addition this report is subject to the following atypical assumptions:
• As agreed upon with the client prior to the preparation of this appraisal, this report is written in Summary forrnat. As such,
some information pertinent to the valuation is retained in the appraiser's work files, and only summary conclusions are
illustrated in the report.
• This report is prepared for the sole use and benefit of the client and intended users and is based, in part, upon documents,
writings, and information owned and possessed by the client. Neither this report, nor any of the information contained
herein shall be used, relied upon, or distributed for any purpose by any person or entity other than the client without
written permission of Commercial Valuation Consultants, Inc.
• The value estimate was made based on our analysis of current market conditions. The appraisers or Commercial Valuation
Consultants, Inc. cannot be held responsible for unforeseeable economic and environmental events that alter market
conditions subsequent to the effective date of the appraisal. Such conditions would include, but are not limited to,
dramatic changes in interest rates or a natural disaster.
• We have no expertise in testing roof, plumbing and other mechanical systems. We assume these systems are in good
working condition with no notable defects. We advise interested parties to hire a professional building inspector to verify
the condition of these components/systems. If these components/systems are found to not be in working order and/or
with defects, we reserve the right to amend this report.
• No unusual environmental conditions were observed, and no environmental studies were provided. We assume the
property is free of contamination. Please note that the appraisers are not environmental experts, Interested parties
should seek professional assistance regarding this matter.
Our estimate of typical marketing and exposure periods, as determined from investor and broker interviews, is
approximately 12 months.
In our opinion, the Fee Simple Estate of the subject property, "As Is," as of the effective date, is:
MARKET VALUE CONCLUSION
FEE SIMPLE ESTATE "As Is"
One Million Thirty Thousand Dollars
$1,030,000
($64.88 Per Square Foot of Gross Building Area)
(Based on 15,876 SF)
commercial valuation corisultanfs
C V C
Mr. Bob Novak
GUARANTY BANK AND TRUST COMPANY
PAGE 3
Questions regarding this appraisal report should be directed to Dave Kloepfer. If possible, e -mailed questions are
preferred, and should be sent to dkloepfer@cvcappraisal.com.
Respectfully submitted,
Commercial Valuation Consultants, Inc.
By: Rodman Schley, MM
President
Certified General Appraiser
State of Colorado, CG40025588
7atie,./0
By: Dave Kloepfer
Senior Vice President, Appraisal Review
By: Paul Kalish
Certified General Appraiser
State of Colorado, CG100000088
commercial valuation consultants
CVC
3113
F8825Kentai
(Rev_ November 2018)
ev
Department of the Treasury
Internal Revenue Service
Reai tstate income ana Expenses ot a
Partnership S Corporation
or an or p
♦ Attach to Form 1065 or Form 1120S.
♦ Go to www.irs.gov/Form8825 for the latest information.
OMB No. 1545-0123
Name
5K LLC
Employer identification number
20-0683609
I
Show the type and address of each property. For each rental real estate property listed, report the number of days rented at fair
rental value and days with personal use. See instructions. See page 2 to list additional properties.
Physical address of each property —street, city, state,
ZIP code
Type —Enter code 1-8;
see page 2 for list
Fair Rental Days
Personal Use Days
A
COMMERCIAL BUILDING
3768 EUREKA WAY
FREDERICK CO 80516
4
COMMERCIAL
365
s
C
D
Properties
Rental Real Estate Income
A
B
C
D
2 Gross rents
2
163,470
Rental Real Estate Expenses
3 Advertising
3
4 Auto and travel
4
5 Cleaning and maintenance
5
6 Commissions
6
7 Insurance
7
3 ,197
8 Legal and other professional fees
8
710
9 Interest (see instructions)
9
13,535
10 Repairs
10
3 , 631
11 Taxes
11
34,723
12 Utilities
12
13 Wages and salaries
13
14 Depreciation (see instructions)
14
10,858
15 Other (list)
SEE STATEMENT 3
15
807
16 Total expenses for each property.
Add lines 3 through 15
16
67,461
17 Income or (loss) from each property.
Subtract line 16 from line 2
17
96,009
18a Total gross rents. Add gross rents from line 2, columns A through H
18a
163,470
b Total expenses. Add total expenses from line 16, columns A through H
18b
( 67,461
19 Net gain (loss) from Form 4797, Part II, line 17, from the disposition of property from rental real
estate activities
19
20a Net income (loss) from rental real estate activities from partnerships, estates, and trusts in which
this partnership or S corporation is a partner or beneficiary (from Schedule K-1)
20a
b Identify below the partnerships, estates, or trusts from which net income (loss) is shown on line
20a. Attach a schedule if more space is needed.
(1) Name (2) Employer identification number
21 Net rental real estate income (loss). Combine lines 18a through 20a. Enter the result here and on:
21
96,009
• Form 1065 or 1120S: Schedule K, line 2
For Paperwork Reduction Act Notice, see instructions.
DAA
Form 8825 (Rev_ 11-2018)
3113
F8825Kentai
(Rev_ November 2018)
ev
Department of the Treasury
Internal Revenue Service
Reai tstate income ana Expenses ot a
Partnership S Corporation
or an or p
♦ Attach to Form 1065 or Form 1120S.
♦ Go to www.irs.gov/Form8825 for the latest information.
OMB No. 1545-0123
Name
5K LLC
Employer identification number
20-0683609
I
Show the type and address of each property. For each rental real estate property listed, report the number of days rented at fair
rental value and days with personal use. See instructions. See page 2 to list additional properties.
Physical address of each property —street, city, state,
ZIP code
Type —Enter code 1-8;
see page 2 for list
Fair Rental Days
Personal Use Days
A
COMMERCIAL BUILDING
3768 EUREKA WAY
FREDERICK CO 80516
4
COMMERCIAL
365
s
C
D
Properties
Rental Real Estate Income
A
B
C
D
2 Gross rents
2
186,986
Rental Real Estate Expenses
3 Advertising
3
4 Auto and travel
4
5 Cleaning and maintenance
5
6 Commissions
6
7 Insurance
7
5,901
8 Legal and other professional fees
8
960
9 Interest (see instructions)
9
818
10 Repairs
10
11 Taxes
11
34,012
12 Utilities
12
13 Wages and salaries
13
14 Depreciation (see instructions)
14
10,862
15 Other (list)
SEE STATEMENT 4
15
40,300
16 Total expenses for each property.
Add lines 3 through 15
16
92,853
17 Income or (loss) from each property.
Subtract line 16 from line 2
17
94,133
18a Total gross rents. Add gross rents from line 2, columns A through H
18a
186, 986
b Total expenses. Add total expenses from line 16, columns A through H
18b
( 92,853
19 Net gain (loss) from Form 4797, Part II, line 17, from the disposition of property from rental real
estate activities
19
20a Net income (loss) from rental real estate activities from partnerships, estates, and trusts in which
this partnership or S corporation is a partner or beneficiary (from Schedule K-1)
20a
b Identify below the partnerships, estates, or trusts from which net income (loss) is shown on line
20a. Attach a schedule if more space is needed.
(1) Name (2) Employer identification number
21 Net rental real estate income (loss). Combine lines 18a through 20a. Enter the result here and on:
21
94,133
• Form 1065 or 1120S: Schedule K, line 2
For Paperwork Reduction Act Notice, see instructions.
DAA
Form 8825 (Rev_ 11-2018)
3113
F° 8825
(Rev. September 2017)
Department of the Treasury
Internal Revenue Service
Rentai Kea' Est ate income ana txpenses or a
Partnership or an S Corporation
♦ Attach to Form 1065, Form 1065-B, or Form 1120S.
♦Go to www.irs.gov/Form8825 for the latest information.
OMB No. 1545-0123
Name
5K LLC
Employer identification number
20-0683609
1
Show the type and address of each property. For each rental real estate property listed, report the number of days rented at fair
rental value and days with personal use. See instructions. See page 2 to list additional properties.
Physical address of each property —street, city, state,
ZIP code
Type —Enter code 1-8;
see page 2 for list
Fair Rental Days
Personal Use Days
i4
COMMERCIAL BUILDING
3768 EUREKA WAY
FREDERICK CO 80516
4
COMMERCIAL
365
B
C
D
Properties
Rental Real Estate Income
A
B
C
D
2 Gross rents
2
118,409
Rental Real Estate Expenses
3 Advertising
3
4 Auto and travel
4
5 Cleaning and maintenance
5
6 Commissions
6
7 Insurance
7
3,047
8 Legal and other professional fees
8
700
9 Interest
9
16,389
10 Repairs
10
975
11 Taxes
11
31,951
12 Utilities
12
13 Wages and salaries
13
14 Depreciation (see instructions)
14
10,863
15 Other (list) •
SEE STATEMENT 3
15
871
16 Total expenses for each property.
Add lines 3 through 15
16
64,796
17 Income or (loss) from each
property. Subtract line 16 from line 2
17
53 , 613
18a Total gross rents. Add gross rents from line 2 columns A through H
18a
118,409
b Total expenses. Add total expenses from line 16, columns A through H
18b
( 64,796
19 Net gain (loss) from Form 4797, Part II, line 17, from the disposition of property from rental real estate activities
19
20a Net income (loss) from rental real estate activities from partnerships, estates, and trusts in which
Ibis partnership or S corporation is a partner or beneficiary (from Schedule K-1)
20a
b Identify below the partnerships, estates, or trusts from which net income (loss) is shown on line
20a. Attach a schedule if more space is needed.
(1) Name (2) Employer identification numbe
21 Net rental estate income (loss). Combine lines 18a through 20a. Enter the result here and on:
21
53 , 613
• Form 1065 or 1120S: Schedule K, line 2; or
• Farm 1065-B: Part I, line 4
For Paperwork Reduction Act Notice, see instructions.
DAA
Form 8825 (Rev. 9-2017)
From: Millie Channel)
To: sameen@wipfli.com
Subject: R8929000 5K LLC, 3768 Eureka Way, Frederick, CO
Date: Wednesday, June 3, 2020 2:52:00 PM
Hi Chad,
My name is Millie Channell and I am the commercial appraiser handling this appeal. I spoke with you
regarding the Goddard School down in Erie, CO, in 2019.
I have called and left a message and tried calling again, but it goes straight to voice mail.
I appreciate you sending in the income information and had a few questions.
I work until 4:30 pm today and will be in the office tomorrow from 7-4:30 pm. I am out of the office
this Friday. I look forward to speaking with you.
Thanks, Millie
streeie Channeee
Property Appraiser
Commercial Division
Weld County Assessor's Office
(970) 400-3685
mchannell@weldgov.com
July 6, 2020
Petitioner:
5K LLC
1043 WILLOW CREEK CIR
LONGMONT, CO 80503-7592
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):
RE: THE BOARD OF EQUALIZATION 2020, WELD COUNTY, COLORADO
NOTIFICATION OF HEARING SCHEDULED
Docket 2020-1944, AS0106 Appeal 2008226200 Hearing 7/30/2020 1:30 PM
Account(s) Appealed:
R8929000
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of July 30, 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
August 3, 2020
Petitioner:
5K LLC
1043 WILLOW CREEK CIR
LONGMONT, CO 80503-7592
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):
CHAD ZEZNANSKI
10000 W INNOVATION DR STE 250
MILWAUKEE, WI 53226-4837
RE: THE BOARD OF EQUALIZATION 2020, WELD COUNTY, COLORADO
NOTICE OF DECISION
Docket 2020-1944 Appeal 2008226200 Hearing
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
R8929000 Stipulated - Approved
Stipulated Value
$1,714,608 $1,600,000
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
Agent:
CHAD ZEZNANSKI
10000 W INNOVATION DR STE 250
MILWAUKEE, WI 53226-4837
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
5K LLC
1043 WILLOW CREEK CIR
LONGMONT, CO 80503-7592
RE: THE BOARD OF EQUALIZATION 2020, WELD COUNTY, COLORADO
NOTICE OF DECISION
Docket 2020-1944 Appeal 2008226200 Hearing
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
R8929000 Stipulated - Approved
Stipulated Value
$1,714,608 $1,600,000
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
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