HomeMy WebLinkAbout20182393.tiffAugust 2, 2018
Petitioner:
ECOVAPOR RECOVERY SYSTEMS
700 17TH ST STE 950
DENVER, CO 80202-3548
CLERK TO THE BOARD
PHONE (970) 400-4226
FAX (970) 336-7233
WEBSITE: www.co.weld.co.us
1150 O STREET
P.O. BOX 758
GREELEY CO 80632
Agent (if applicable):
RE: THE BOARD OF EQUALIZATION 2018, WELD COUNTY, COLORADO
NOTICE OF DECISION
Docket #: 2018-2393 Appeal #: 2008217977 Hearing Date: 8/2/2018 8:30 AM
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. Section 39-8-101 et seq., considered
petition for appeal of the Weld County Assessor's valuation of your property described above, for the year
2018.
Account # Decision
The Assessment and valuation is set as follows:
Actual Value as Actual Value as Set by
Determined by Assessor Board
P9101502 Deny - Denied in Full
$1,592,305 $1,570,267
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 followinq 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. Section 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, 2016, MUST comply with the
following provisions of C.R.S. Section 39-8-107(5):
(5)(a)(I) On and after August 10, 2011, 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 section 39-8-108(1) or a denial of an abatement of taxes pursuant to section 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. Section 39-8-108(1), the rules of Colorado appellate
review and C.R.S. Section 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. Section 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,
Esther E. Gesick, Clerk to the Board
Weld County Board of County Commissioners
and Board of Equalization
Cc: Christopher Woodruff, Weld County Assessor
Weld County
CHRISTOPHER M. WOODRUFF
COUNTY ASSESSOR
BRENDA DOMES
DEPUTY ASSESSOR
VALUATION REPORT
OF
PERSONAL PROPERTY
FOR
County Board of Equalization
Ecovapor Recovery Systems
PETITIONER
Vs.
WELD COUNTY ASSESSOR'S OFFICE
RESPONDENT
Schedule Number: P9101502
Log Number: 2008217977
Date: 8/2/18
Board: Board #1
PREPARED BY
Sean McElroy 08/02/18
Signature Date
ASSESSOR'S OFFICE STAFF APPRAISER
Personal property is e erything that is the subject of ownership and that is not included in the
term `real property'. This includes machinery, equipment and other articles related to a
commercial or industrial operation that are either affixed or not affixed to the real property.
Leased Vapor Recovery Units are classified as personal property.
Personal Property values 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. Page 3.01 in the
Colorado Assessor Reference Manual states
For Colorado personal property assessment purposes, the actual value is the value in
use, as installed. Colorado statutes require that personal property be valued inclusive of
all costs incurred in acquisition and installation of the property. The costs of acquisition,
installation, sales/use tax, and freight to the point of use must be considered in the
personal property valuation. The inclusion of these costs requires that personal property
be valued in use. Therefore, the actual value of personal property is based on its value in
use
Furthermore page 3.19 of the Colorado Assessor Reference Manual states
The assessor is appraising property at value in use not at liquidation value.
ASSESSOR'S CURRENT VALUE
Account if Actual Value
P9101502 $1,570,267
2
HISTORY OF SUBJECT PROPERTY
Below is an excerpt from Ecovapor's website.
Since 2010, EcoVapor Recovery Systems has been helping leading E&P operators capture more
production, increase uptime, generate more revenue and improve wellsite safety with our
innovative solutions for capturing tank vapor gas and removing oxygen.
We bring an independent and unbiased approach to understanding and solving the rising
challenges E&P operators face when developing and producing hydrocarbon assets. Our diverse
team of technical experts come from multiple backgrounds, and not all are from the oil and gas
industry, giving the ability to put fresh eyes on problems and develop innovative, patented, out -
of -the -box solutions.1
EcoVapor Recovery Systems Website (accessed July 27, 2018); http://www.ecovaporrs.com
3
COST APPROACH
NARRATIVE
The values on this account were originally derived from an asset listing supplied by the
petitioner with their 2018 Personal Property Declaration. The declaration was submitted
electronically to our office by the taxpayer and it was reviewed and valued by our appraiser.
They included 17 Vapor Recovery Units that are leased to various well sites. The declaration
was signed by the owner/agent declaring that the information provided on the declaration
included a full and complete list of property and that no attempt had been made to mislead the
Assessor as to its age, quality, quantity or cost.
The Colorado Di\ ision of Property Taxation (DPT) publishes tables that are used in the cost
approach to establish the value. An inflation factor is used to calculate the replacement cost new
(RCN) values for all reported equipment. Then an economic life for the equipment is determined
and an age for the equipment is calculated. With an economic life and an age determined for the
equipment, a percent good is applied to the RCN value for the equipment to find the replacement
cost new less depreciation (RCNLD) value. A level of value (LOV) is then applied to the
RCNLD to reach the actual value for the equipment. The LOV is used because C.R.S. 39-1-
104(12.3)(a)(I) requires personal property to be adjusted to the June 30 appraisal date. The DPT
tables have been attached to this report.
The economic life tables are developed from the IRS, Marshall Valuation Services and other
sources. The percent good tables are assembled from the Iowa State University property
retirement & depreciation studies. The minimum value on the general percent good table is 15%
because Colorado is a value in use state. This means that nothing is ever fully depreciated as
long as it is in use. For technologically advanced personal property the floor value is 7%.
Since no original installed cost information was provided for these assets, the Weld County
Assessor has not derived a value using thecost approach.
4
MARKET APPROACH
Pursuant to the Colorado Revised Statutes the Assessor has considered the Market Approach. This
approach is an appraisal technique in which the market value estimate is predicated upon prices
being paid in the actual market. It is a process of correlation and analysis of similar recently sold
properties. The reliability of this technique is dependent upon:
1. The degree of comparability of each property with the property under appraisal;
2. The time of the sale;
3. The verification of the sale data;
4. The absence of unusual conditions affecting the sale.
The assessors of the several counties of the state, with input from industry and approval of the
Property Tax Administrator, developed an equipment valuation method using Basic Equipment
Lists (BELs) and valuation grids. The BELs were developed for the different types of oil and gas
wells found in the state, and are used to identify and value equipment common to each particular
type of well by basin, depth, production level, and method of production. The BELs are a
market valuation for the production equipment inclusive of acquisition cost, installation cost,
sales/use tax and freight to the point of use..
County Assessors are required to use the BELs to value production equipment. "The BLLs and
the valuation grids shall be used to determine the actual value of the production equipment." 4
The following information was used to determine the value of the vapor recovery units by
condition from the BEL tables.
Very Good
4'
The equipment is in near -perfect to perfect working condition. It has had limited use and has a
long service life ahead. This includes equipment associated with a well that is zero to less than
five years o -.
Average
The equipment is in good mechanical condition and needs no major repairs or maintenance. This
includes equipment associated with a well that is five to less than fifteen years old.
Minimum
The equipment has had a substantial amount of service, a limited amount of use remains.
Equipment associated with a well that is fifteen years old or more, or equipment associated with
a well that meets stripper well status, should be classified as minimum condition equipment.
Vapor Recovery System Very Good Average Minimum
(Includes Manifold/Pumps) 94,611 72.350 16,697
2 Colorado Assessor's Reference Library Volume 5 pg 6.1
Colorado Assessor's Reference Library Volume 5 pg 6.3
Colorado Assessor's Reference Library Volume 5 pg 6.2
5 Colorado Assessor's Reference Library Volume 5 pg 6.10
5
The table below shows the summary of EcoVapor Recovery Systems BEL value calculation.
Unit
Age
Unit
Condition
Market
Value
Per Unit
Quantity
Total
Value
LOV
Actual
Value
Average
$72,350
I
$72,350
.99
$71,627
4
Very Good
$94,611
10
$946,110
.99
$936,650
3
Very Good
$94,611
4
$378,444
.99
$374,660
Very Good
$94,611
2
$189,222
.99
$187,330
$1,586,126
$1,570,267
The actual value of $1,570,267 was established by determining the appropriate condition based
on age of the vapor recovery units and applying the value for them by condition from the BEL
tables as mandated by the DPT through C.R.S §39-2-109(e).
The Colorado Property Tax Administrator is required to...
C.R.S. §39-2-109(e)
To prepare and publish from time to time manuals, appraisal procedures, and instructions, after
consultation with the advisory committee to the property tax administrator and the approval of
the state board of equalization, concerning methods of appraising and valuing land,
improvements, personal property, and mobile homes and to require their utilization by
assessors in valuing and assessing taxable property. Said manuals, appraisal procedures, and
instructions shall be based upon the three approaches to appraisal and the procedures set forth in
section 39-1-103 (5) (a). Such manuals, appraisal procedures, and instructions shall be subject to
legislative review, the same as rules and regulations, pursuant to section 24-4-103 (8) (d), C.R.S.
(emphasis added).
MARKET APPROACH VALUE
$1,570,267
INCOME APPROACH
Pursuant to the Colorado Revised Statutes the Assessor has considered the Income Approach to
value on Personal Property. This approach considers value in relation to the present worth of
future benefits derived from ownership and is usually measured through capitalization of a
specified level of income. This approach is the least common approach used in the valuation of
machinery and equipment, since it is difficult to isolate income attributable to such assets from the
income attributable to the services received from the assets. Leased property is one of the few
assets thatthe income can be isolated to assets and not the services received from the assets. Using
the direct capitalization method and estimating the net operating income from the gross operating
income, provided by EcoVapor. The following table shows the income approach to value for these
assets.
Gross Income
Net
Income
Cap
Rate
Income Value
Each
LOV
Actual
Value
Each
Qty'
Total
Actual
Value
$41,400
$28,000
13%
$216,383
99%
$214,219
17
$3,641,731
INCOME APPROACH VALUE
$3,641,731
VALUE SUMMARY
Cost Approach Value
N/A
Market Approach Value Income Approach Value
$1,570,267 $2,968,725
CONCLUSION
The subject property has been classified as Personal Property for property tax purposes.
Personal Property values 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
reviewed the Cost, Market and Income approach to value and selected the Market Approach as
the most accurate method for determining the value.
After consideration of the three approaches, it is the Weld County Assessor's request that the
value be set at $1,570,267 for the tax year 2018.
FINAL VALUE
$1,570,267
7
ADDENDUM 4-A INDUSTRY CAllEGORY TABLE
Types of Personal Property included in Industry Cate:
Indust'"?
Category Table
Irrduftot
Care
Nunrrbi.r
-oaf
PlOpettE.1pe
1
Average of All
Cared -y and Confecth.onery
_ Creamery and Dairy., Flour. Cereal
and
Feed,
Garage, Meat
PacktnF_
Plaint, nt,
Refrigeration anE. Rubber
Office Penonal Property
(excluding
copiers and other technologically
advanced personal
property)
4 Retail and. Wholesale
Stores,
Warehousing
5 Rental Furnithings,
Aparlment.L.
Hotels
and Motels
6 Banks, Savings and
Loans,
Restaurants and.
Lounges, and Theaters.
7
e Contractors
Personal
Property
8 r . Cleaning
Per
on:i
i
Property
9
Industrial
BaketT.,
Bo t-tlin
_ C:Rlill eri s, and Fruit Packing
._
I
Brewing
and. Distil
n Cement.
L
Thv Products, Glass, Mme](., logging„
1
Metal
t
orking,
Mti
nip
_
u and
,
Milling
'cal,.
1
°lan
fac-tnarinp
of Chemical.., El -M1
Papa!: Motion. Piettffes
and
11
Television,
Panting, and.
Woodworking Personal Property
12
All Petroleum,
Oil, Gas,
Ethan.
Bie-di
el,:
and
Textile
,
Comer and, PC, iinputcr-into
grated
P ers o Property, Telephone
; t d.
13*
Tic*IIF
tii
in
:. Lion
Personal
Property,
and
Copiers
'14 Renewable Energy Personal
Property
Source: lidlushall'Valuation Senrice
*Please refer. to Chapter 7, Special Is su e a L guider rte t h,i,i oio . c alit. _A.ahami red Personal
Pr ope ,, for more information.
17--DPT
ARL VOL .5
2-89 Rfro 1-18
6.23
8
g
ADDENDUM 4—B, COST FACTOR TABLES
2018 PERSONAL PROPERTY
COST FACTOR TABLE
11
IA
eise
1992
1993
1994
1995
1996
1997
1995
1999
2000
2.002
2003
2004
2005
2006
2007
2009
0100
2011
2012
2013
2014
2015
2017
Industry C
1
1.69
1.66
1.62
1.56
1.54
1.65.
1.62
re
1.:.2
S
1.5
1.55
1.52
1A7
1.50 1.45
I.52 1.1S
1..50
1.47
1..16
1.47
1.16
1.44
1.13
1.45 I 1.42
138
.29
1..23
1.13
..a9
1.10
1.,5
. 2
1.21
1.16
1. os
1.10
1.09
..07
1.04
1.03
1.02
1.01
1.02
1.06
1.03
1.03
1.01
1.01
1.0?
1.00 I 1.00
1.13
1.42
1.12
1.40
1.38
1.36
aLiegory Number
o
1.68
1.67
1.61
1.62
1.58
1.5
6
1.62
1. 0
1.59
1.65
1.54
1.5.
1.19
1.52
1.50
1c17
L48
1.46
1 A
1.'1:5
11.49
1.4
1.57
1.54
I ..51
1.45
1.50
IAi1
1..19
1.4_5
1.43
1.012
1..43
1.40
I:AI
1.39
1.33
1.26
1.21
1.16
1.12
1.09
1.10
1.07
1.04
1.4
1.03
1.36
1.,5
..
1._.3
1.42
1..46
IA
IA5
1.44)
1.44
1.38
1.34
138
1.26
1..71
1.18
1.19
1.14
1.15
1.12
I..08
1.0')
1..06
1.05
1.21
1.2
1..19
1.13
1.12
1.10
113
1.08
1.05
1.06
.us
1.03
1.03
1.03
1�.03
1.02
1.02
.02
1.0?.
1.0
L02
1.02
1.02
1.02
1.00
1.00!
1.00
Source: .Miutal1 Valuation Service
1 7 -Are —rarer
ARI VOI 5
7 —fig Rcw 1-11i
,
October 2017
9
ADDENDUM 4-B1 COST FACTOR TABLES CONTINUED...
2018 PERSONAL PROPERTY
C OSI FACTOR TABLE
1992
193
1994
1095
1996
1997
1998
1909
000
2001
2002
200.
2004
suit
2005
20061
2007
2008
2009
010
2011
201°2,
201 3
X014
2015
2;016
2017
Industry Category Number
1.7R
1.69
1.6
1.57
1.51
1,53
1.5
1.50
1.*19
c
1.40
1.30
1.24
1.18
1.13
1.10
I .'
1.04
1.03
1.02
1.01
1.02
1.00
9 1` 1l 12 13 1.1
1.73
1.7
1.65
..
1.57
�
I..51
1.53
1.53
1.51
1.10
1.4w
1.15
1.40
1.29.
1.16
.08
1.76
L68
1.76
1.00
LOU
1_i6
1.1
1.00
1.00
1.70
1-;
1.71
1.00
1.00
1.64
1.65
1.00
LOU
1.61
1.53
1.62
1.00
1.00
1'5
1S-. Y
1.57
1.00
1.00
1.58
1.00
1.00
_2
1.54
[.0a0
1.00
1.54
L49
1.00
1..00
1.53
I AS
1.:
1.00
LOU
1.5-11
L48
1.50
1.00
1.00
1.19
_�•16
1.-1S
1.00
1.00
1.43
L40
1.43
1.00
1.00
1.31
1.00
1.26
1.21
1.'4
LOG
LOU
1.19
11 6
1.00
1.1
1.06
1.03
.0ti
1.01
I.01
1.02
1.00
L14
LO
1.00
LOU
1.09
1. 6
1.07
1.00
1.00
1.04
LO7
1.08
1.00
1.00
1. 2
1.06
1.00
LOU
1.00
1.03
1.00.
1.00
1.03
1.00
1.02
I.0O
LOU
1.02
1.00
1.01
1.00
1.00
1,.01
1-00
1.00
1.00
1.00
1.02
1_02
1.01
1.00
1.00
LOG
LOU
1.4)
1.00
LOU
Source: Marsha. Valuation S e. nice, October 2017
17 -AS- DPT
ARI V Ol 5
Rico,: 1-1A
10
11
ADDENDUM 4-Cr ECONOMIC LIFE ESTIMATES
Recommended
PROPERTY
TYPE
E Bono " 1-i a Life (yean)
IC'Olidan
a':CL
personal property
9
Wl i'1 1;e retail
s, calculators
6
olli-rierairreithacu '4fl Yi• ir addi7�lona modal; l; sn 'Own? r S7)
■Y i
6
.1l.czenax
t parks
.
12
dahrialPiaald Uer i'T,lelll SC b ( MitV. se Chapter 7
COMSAT i e'iecI rian' c OM= I wham
4
Sin:rural 1
10
AlliD
,
1 1-
repair ho
�0
0
210
tat docas
Emberand 'LPea.ut shops
,,.�}} } 7,py�
ie a ild iii' 1�' °.4i i
4 1 1
to 1 1
'
T �yq Ch �,p�
on: adaT i ' ��tl LP� its 'Ch '�if-J� 2)
,
Computers
t accessories
36
- personal
fiainputen
-
and Mani-aloneMani-alone peri her
4
other
Cow= -integratedpersonal property
4
Construct, on personalproperty„general6
'Copiers
,°
Data
handling p
th1
6
lard; except ci'c
E'nik personal Pr0PETrit,
6
tw r t COMM= or gala
F
. -
10
,
Gaming.- (zee Ch i . )
Electronic ('e!
4., slot machi„ )
5
Lariat P mfhthpi
personal pronerty (t e.., tbb1eS)
10
Gas
'p7u
staSr2
r
fp
E k c. LL' 1: J.11t�.
d
Genii
10
Tomah (e.g.,above growl, ix'. Ionia- )
10
Tam (e.
20
!mod,. ]e- Thedd, fuel)
p q
.aE S
20
H e'GIe1Yic CEDE
Golf
6
ca
Laundry
10
andcleaning
Machinery arn�y�l�r equipment (aot
�otherwise �gy���:, seenaps?
MMetere l sonal is r{il ttart lJ . �tr see 'i)
}1�0
3 to 10
� property
6
Office
10
furnime
. .eab s
10
Photo
processingpersonal
propertv (electronic)
6
Port-a-pcxtty
10
Rath
on broadcasting
6
L, and
Recreation and
guzaasement
10
I
'-4. t; II .ail nil
10
tar '4__
Renewable to l property
20
Commercial Cows' n next paw
Use apprirfira Vain athariced caviare peentgoal l'aS
Sources: DiVilink of Priverty Taxation; Marshall Valuation Service, I.R.S.
17- -DP T'
SILL'VOL .5
2-89 Rev 1-18
11
12
ADDENDUM 4-C, ECONOMIC LIFE ESTIMATES CONTINUED....
l
+r m� ended
PROPERTY TYPE
E
Leone
i I:
e Lire (years)
C O HCIAL (co atin ilea)
Rita Rafts 1(1
5
Slopping carts
Sip (billboard arid t ) 20
Signs. (other) 10
Sims (e1.
nic)
6
Snow t: Otr additional nvitrmation zati Okrietar ")
Henry use (e.g., snow -grooming operations) 6
Moderate iic (e_ g., aanspeataiican J ! o cans) 10
Stoma
Tanks (e.g., above gromml, propn, septic) 10
Thanks (e. g.,, below mot driobleanalled,fuer, 20
Telecomnimicati it it':
property: High Tech .■ (axc
hiJi np mp a nn) 4'
Theater 10
Typewriters 6
y 10
__jin
Video �(.�
s
(a cad ) 6
NATURAL O RESOURCES
I
.8Sing - Mnallie vial NtutitrialEr
Aj All & s
gJii ., . cranes (with 50+ in liftcapacity) 20
E ]ECIXiC mining shovels 15
otbEr in i mht cr,gr ;min & milting
p& song 'property 10
,
Peolem and Natural Gas
'
Iii- 6
f ghgh- l ]gr drilling rigs 10
Exploration and Prectaction rexclaiiing, o es)
14
Marketing, Mail. P
Machin (mot owe listed) 10
.. ' it iii 6' 16
� °
Tinier
IA Ming 6
Sawmills.. permanent 10
portable 6
* Efige apply -pimp torimologicarte admired comperrarpircenz.grood ale.
17 -AS -OPT
AFL VOL 5
2-89 Rev 1-18
12
ADDENDUM 4-C, ECONOMIC LIFE ESTIMATES CONTINUED...
ir �iended
PROPERTY TYPE
Eton tw t Life (years)
DTITS TRIAL
Aerospace 10 ,
Apparel and fabricated tellies P
Bakeries and Confectionery 12
Brewery 12
Cates and. frozen fwd 12
Cement manalattume 20
Cerealflour, grain :'MP min
products 17.
Coals and related moth= 10
! fir and gvp sal product s 15
Comage manufacture 15
Dairy pests manufac nnng 12 L
Eaectri€al pent property manufacturing 10
Elm oersonaluroperm maunfacturine d
Fab i.cited metal pints 1
Roil and beage per on 12
Special handling dervic BS 4
Farkii
its 10
Glass an glass prod= 14
'fin Bins 20
Jewel 12
Lumber, wood.pr is and furniture 10
Ma (not otherwise listed) 10
Meat packing 12
Motion picture aid t lethiCa aitUdliCtion 12
Paint and vanish 10
Plastics and plastic products 11
.ruing and publichi
g 11
Professional and scientific insirimieuts 10
Paperboard aid ''RI. 10
Rubber pry. 14
Jl
t ii 6 : personal property 16
_
Sc S —ont eaor J} • r r o -
General 5
Rah and development 3
Test per! pry 5
War fbricati 3
Soft drink bottling 12
Special tools (all industries) ies) 3
Steel ad related
pmts 15
Stone products 15
Sugar and sugar pi hiUs 18
Sources: Division of Property Taxation, i i V3 '
Service, & I:.F..E.
17- -Di' I
RILL VOL 5
2-89 Rev 1-1.S
13
14
ADDENDUM 4-D, GENERAL PERCENT GOOD TABLES
2018 GENERAL, PERCENT GOOD TABLE
Average Economic Life in Years_
3 4 5. 45 7 8 9 10. 1-1 12 13 14
15 16 17 11 19 20
68
76
81
85
8
90
91
92
93
94
95
95
96
96
97
97
97
97
38
53
63
7C
75
79
82
84
86
88
89
90
91
92
93
94
94
93
17
33
46
55
62
62
72
76
79
81
83
85
87
88
89
90
91
92
15
18
30
40
50
57
63
67
71
75
77
80
82
84
85
86
88.89
15
18
29
3g
47
53
59
68
71
74
77
79
.1
83
84
86
15
19
2..8
37
44
50
56
61
65
68
71
74
77
79
80
$
15
20
22
36
42
49
54
59
63
66
69
72.
75
7i
79
15
20
28
3.5
42
47
32
_57
61
64
67
70
73
75
15
21
28
34
4
46
51
55
59
62
66
69
71
1:
45
68
40
I
64
1
1
34
44
47
52
5760
rip; e
1
0
30
-
56
1.5
21.
25
30
3
38
5
1!
19
25
31,
3.5
40
48
1
18
44
15
1
2
140
36
1�
1
32
1
1
20
25
29
17
22
26
15
19
2.3
1.
20
1.5
18
16
1.5
See: Division of Property Taxation
17 -AS -OPT
ARL VOL 5
249 Rev 1-18
Rate jiZail
14
16
ADDENDUM -4—E, LEVEL ^ F VALUE FACTORS
2018 PERSONAL PROPERTY WV FACTOR TABLE
'hue 30, 2016 Level of Value
Industry
CategorT Number
1
2
3
4
55
sY'
7'�j{
8
9
10
11
1'
13
14
Fixtures. & Leasehold :74
OV Factor
038
0.98
038
0.92
0_98
0.92
0.92
0.98
038
0.98
0_99
1.00
1.00
038
Smime: ThIris ion c -f Property Taxation sin M4- 11 Vale lion Spice
1 �: PT
ARIL '!I L 5
241g Rev 1-16
15
ADDENDUM 6-C,
2018 ADDITIONAL INSTALLED EQUIPMENT LIST
Description
Cathodic Protection Unit
with Rectifier
with Solar Panels
Chemical Pump & Tank
Circulation Pump Unit
Combuster
Small Combuster (<50" Diam x 10')
Dehydrator (up to 5 mmscf /day)
Filter Vessel (average all sizes)
Flanged Immersion Heater Tank Heaters
Fuel/Chemical Tanks (500 gallon)
Free Water Knockouts
30" x 10'
4' x 10'
6'x10'
8' x 10'
4'x15'
6'x20'
Gas Booster Line Compressor
Compressor (15-30 HP)
Compressor (30-50 HP)
Compressor (50-100 HP)
Compressor (100-1SOHP)
In -Line Heater
LACT Unit
Measurement Equipment
Meter Run/paper-chart recorder/with
2" Meter Run, Sending Units & RTU
Recycle Pump
Sound Panels (Galvanized Steel)
Wall & Roof Panels/SqFt (Padded)
Condition Rating
Very Good Average
9,523
23,433
2,120
16,731
37,844
20,739
38,342
16,557
6,208
1,015
5,916
8,953
13,435
17,916
11,826
16,791
43,919
56,468
119,210
159,280
8,042
68,717
11,206
27,221
1,146
8.66
7,282
17,919
11621
12,794
28,940
15,860
29,320
12,662
4,747
776
4,524
6,846
10,273
13,701
9,044
12,840
33,586
43,181
91,160
121,802
6,150
52,549
8,570
20,816
876
6.63
Minimum
1,681
4,136
374
2,952
6,679
3,660
6,766
2,922
1,096
179
1,044
1,580
2,371
3,162
2,087
2,963
7,750
9,965
21,037
28,109
1,419
12,127
1,978
4,803
203
1.53
15-AS-DPT
ARL VOL 5
1-89 Rev 4-18
16
6.24
2018 ADDITIONAL INSTALLED EQUIPMENT (Cont.)
Description
Triplex Water Injection Pump
75 HP Electric Motor
Vapor Flare System
(Enclosed Stack)
Vapor Recovery System
(Includes Manifold/Pumps)
Vapor Recovery Tower
Water Flow Lines — Steel (per foot)
Water Flow Lines — Poly (per foot)
Very Good
Wellhead
Threaded (Total Value)*
Flanged (Total Value)*
Flanged (Differential}**
Flanged/Threaded Combo(Differentialr*
Waste Oil Recycling operations
Tank(1) 300BBL
Separator 30" x 10' Vertical
Separator 24" x 10' Horizontal
51,787
30,219
94,611
32,367
9.27
8.01
21838
9,860
7,022
9,860
18,524
7,629
14,436
Condition Rating
Average
39,602
23,110
72,350
24,751
7.09
6.13
2,170
7,540
5,370
7,540
14,166
5,833
11,039
Minimum
9,140
5,333
16,697
5,712
1.64
1.42
* For use only with wells having dual wellheads on same wellbore.
** For use only in basins where threaded wellheads are typical.
(see Valuation Procedures)
15-AS-DPT ARL VOL
5
2-89 Rev 4-18
501
1,740
1,239
1,740
3,268
1,346
2,548
17
Secure . h, s%/ ;ec*vapors.ream/sytems-technci!ogy-2/
ECCVAFOR
LRECOVERY
ied SYSTEMS
EcoVapo r's systems
ABOUT NEWS y STE & TECHNOLOGY CONTACT
DATA S U B MfISSIION FOP.M
M
Eco a por"s systems focus on pulling vapors directly from oil storage tanks to enable 100% gas
capture on site. EcoVapor por- has the right size system ava i I ab e to match to the unique
characteristics of your wellsite. The Company's systems can function stand-alone, in parallel
with one -another, or in conjunction with low pressure separationand/or vapor tower
compression . EcoVa►por's systems can be configured to recover flash gas from oil tanks and
other separation vessels, inr_ uclin,g Vapor Recovery Towers (NWT's"), T s"), treaters, and separators.
18
NOTICE OF DETERMINATION
Christopher M. Woodruff
Weld County Assessor
1400 N 17th Ave
Greeley, CO 80631
RECEIVE:.
JUL 252018
WELD COUNTY
Date of Notice: 07/10/2018
Telephone: (970) 400-3650
Fax: (970) 304-6433
Office Hours: 8:00AM — 5:00PM
ACCOUNT NO.
GOMMI5blUIlt,t-t
TAX YEAR
TAX AREA
LEGAL DESCRIPTION/ PHYSICAL LOCATION
P9101502
2018
0604
LEASED VAPOR RECOVERY UNIT FOR TA 0604
ECOVAPOR RECOVERY SYSTEMS
PROPERTY OWNER
ECOVAPOR RECOVERY SYSTEMS
700 17TH ST STE 950
DENVER, CO 80202-3548
PROPERTY CLASSIFICATION
ASSESSOR'S VALUATION
ACTUAL VALUE PRIOR TO
REVIEW
ACTUAL VALUE AFTER
REVIEW
PERSONAL PROPERTY
1,592,305
1,570,267
TOTAL
1,592,305
1,570,267
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:
PP09 - Your personal property valuation has been adjusted based on additional information which
you furnished our office.
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 personal property appeals is July 20.
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):
RECEIVED
JUL 2 3 2018
WELD COUNTY ASSESSOR
GREELEY, COLORADO
15-DPT-AR
ARL V0L 2
1-84 Rev 01-16
2018-2393
.So (00
APPEAL PROCEDURES
County Board of Equalization Hearings will be held from
July 30th through August 3th 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 20 for personal property — after such date, your right to
appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we
recommend that all correspondence be mailed with proof of mailing.
You will be notified of the date and time scheduled for your hearing. The County Board of
Equalization must mail a written decision to you within five business days following the date of the
decision. The County Board of Equalization must conclude hearings and render decisions by
August 5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of
Equalization and you wish to continue your appeal, you must file an appeal with the Board of
Assessment Appeals by September 10, § 39-2-125(1)(e), C.R.S.
If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your
appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of
the following:
Board of Assessment Appeals District Court
1313 Sherman Street, Room 315 Contact the District Court in the County
Denver, CO 80203 where the property is located. See your
(303) 866-5880 local telephone book for the address and
www.dola.colorado.gov/baa telephone number.
Binding Arbitration
For a list of arbitrators, contact the County Commissioners at the address listed for the County Board
of Equalization.
If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document
falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed
on the next business day, § 39-1-120(3), C.R.S.
PETITION TO COUNTY BOARD OF EQUALIZATION
What is your estimate of the property's value as of June 30, 2016? (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.)
$ 131351 p,ci, cik
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.)
-1,0A APP eci'ldl c 6 -6- AO)=,,k /igoi Ifjy#./_
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.
SoS- es -3- / ?I191).,0,1i
Signature
b!�
Email Address
6
Telephone Number
'Attach letter of authorization signed by property owner.
15-DPT-AR
ARL VOL 2
1-84 Rev 01-16
Date
ECOVAPOR
RECOVERY
SYSTEMS LLC
July 19, 2018
Mr. Christopher Woodruff
Weld County Assessor
1400 N 17th Ave
Greeley, CO 80631
Mr. Woodruff,
I am writing to appeal our Notice of Determination for personal property tax for EcoVapor Recovery
Systems (Account Number P9101502). We were originally assessed $1,592,305 and per the letter dated
7/10/2018 after review, we are assessed a value of $1,570,267.
As you may know from recent email exchanges with Mr. Dave Young, we have raised concern that the
changes to assessed value in 2017 compared to 2016, specifically related to Addendum 6-C for
"Additional Installed Equipment", dramatically increased the assessed value of Vapor Recovery Systems.
In fact, while most equipment had an increase in assessed value, Vapor Recovery Systems had the
largest assessed value increase at nearly 10 fold.
As you also may be aware, Vapor Recovery Systems play a critical role in mitigating air emissions at oil
well sites, especially in Weld County, where such emissions are a leading contributor to ground level
ozone problems. I have trouble believing that whoever set these values understood the implication of
increasing the cost of vapor recovery which is a significant contributor to reducing air emissions in
Colorado.
In communication with Mr. Dave Young, I understand there was a stakeholder process to evaluate these
values when re -set in 2016-2017. Unfortunately, we were not part of that process.
We are requesting tax relief in the form of 2016 assessed rates (a total of approximately $225,000) and
respectfully suggest that the county and state review the assessed value of Vapor Recovery Systems.
Regards
Brewster Boyd
Chief Financial Officer
EcoVapor Recovery Systems
p �F itkiNt F.
�r. ckLt—
Li&id (oiy �P3sa—
Riao A -v -e
Gtetley ra 80 63i
• vrewwv»s%
470802
PM 7 t
RECEIVED
JUL 2 3 2018
WELD) COUNTY ASSESSOR
GREELEY, COLORADO
SO .r.. , Iw.S AM.CC.j7��ii�F������ir��#�����#�#1���}}�i;�4�j��}�
July 27, 2018
Petitioner:
ECOVAPOR RECOVERY SYSTEMS
700 17TH ST STE 950
DENVER, CO 80202-3548
CLERK TO THE BOARD
PHONE (970) 400-4226
FAX (970) 336-7233
WEBSITE: www.co.weld.co.us
1150 O STREET
P.O. BOX 758
GREELEY CO 80632
Agent (if applicable):
RE: THE BOARD OF EQUALIZATION 2018, WELD COUNTY, COLORADO
NOTIFICATION OF HEARING SCHEDULED
Docket #: 2018-2393, AS0097 Appeal #: 2008217977 Hearing Date: 8/2/2018 8:30 AM
Account(s) Appealed:
P9101502
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of August 2, 2018, at or about the
hour of 8:30 AM, to hold a hearing on your valuation for assessment. This hearing will be
held at the Weld County Administration Building, Assembly Room, 1150 O Street,
Greeley, Colorado.
You have a right to attend this hearing and present evidence in support of your petition.
The Weld County Assessor or his designee will be present. The Board will make its
decision on the basis of the record made at the aforementioned hearing, as well as your
petition, so it would be in your interest to have a representative present. If you plan to be
represented by an agent or an attorney at your hearing, prior to the hearing you shall
provide, in writing to the Clerk to the Board's Office, an authorization for the agent or
attorney to represent you. If you do not choose to attend this hearing, a decision will still be
made by the Board by the close of business on August 5, 2018, 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 obtain the data supporting the Assessor's valuation of your property, please
submit a written request directly to the Assessor's Office by fax (970) 304-6433, or if you
have questions, call (970) 353-3845. 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 County Commissioners
cc: Christopher Woodruff, Assessor
Hello