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Home My WebLink About20172590.tiffJuly 28, 2017 Petitioner: WANG YINGFANG 3215 SHALLOW POND DR FORT COLLINS, CO 80528-9403 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 2017, WELD COUNTY, COLORADO NOTICE OF DECISION Docket #: 2017-2590 Appeal #: 2008216844 Hearing Date: 7/27/2017 9:00 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 2017. Account # Decision The Assessment and valuation is set as follows: Actual Value as Actual Value as Set by Determined by Assessor Board R0166594 Adjust - Denied in Part $394,000 $380,000 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. 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 CLERK TO THE BOARD 1150O STREET PO BOX 758 GREELEY Co 80632 Petitioner: WANG YINGFANG 3215 SHALLOW POND DR FORT COLLINS, Co 80526-9403 U.S. POSTAGE >> PITNEY BOWES 4 com=ifsis aared saw ZIP "631 0 00 A 6 0 f., 411 0000335769 JUL 31 2017 Christopher M. Woodruff, Weld County Assessor Valuation Report Of Residential Improved Property For County Board of Equalization WANG YINGFANG Petitioner VS. Weld County Assessor's Office Respondent Parcel Number: 070736306004 Schedule Number: R0166594 Appeal Number: 2008216844 Date: 27-JUL-17 Time: 9:00 AM Board: 1 Prepared By LUIS A MUNOZ Assessor's Office Residential Appraiser Assessor's Indicated Value RESIDENTIAL $394,000 TOTAL: $394,000 Page 1 of 7 Subject Photo General Description and Market Summary Subject Site and Improvements The subject property is located at 40 CHERRY AVE inEATON. The legal description of the property is ETN CEN1-4 L4 BLK1 CENTENNIAL SUB. The subject is a Frame Siding house constructed in 1994. It has 3423 square feet of finished living area above grade. There are 5 bedrooms and 4 bathrooms. The Assessor has classified the structure as a 2 Story home of Average quality construction using Average quality materials. An exterior physical inspection was completed on (07/21/2017). Page 2 of 7 Market Approach Summary The subject property has been classified as Residential for assessment purposes. Residential property value shall be determined solely by consideration of the Market Approach to Value {39-1-103(5)(a), CRS}. As required by 39-1-104(10.2), CRS, the market value is determined by utilizing data from the period of one and one-half years immediately prior to June 30th, 2016. If sufficient comparable valuation data is not available within the eighteen -month time period, the assessor shall use market data from the five year period immediately prior to June 30th, 2016. When appropriate, all sales are to be time adjusted to the appraisal date of June 30th, 2016. Although the appraisal date is June 30, 2016, the physical characteristics are reflective of the property as of January 1, 2017. The comparable sales in this report were selected using county records and the Multiple Listing Services. The Weld County Assessor's Office has verified that the comparable sales are arms -length transactions based on review of the Real Property Transfer Declaration, telephone or personal confirmation interviews and physical inspections to confirm property characteristics at the time of sale. DEFINITION OF MARKET VALUE: The most probable price, as of a specified date, in cash, or in terms equivalent to cash, or in other precisely revealed terms, for which the specified property rights should sell after reasonable exposure in a competitive market under all conditions requisite to a fair sale, with the buyer and seller each acting prudently, knowledgeably, and for self interest, and assuming that neither is under undue duress. {The Appraisal Institute} The market value of the property as of June 30th, 2016 is: Assessors Indicated Value RESIDENTIAL $394,000 TOTAL: $394,000 Page 3 of 7 Time Adjusted Sales Prices By law, sales prices are time adjusted to the appraisal date of June 30, 2016. An adjustment for time is made if during the sales collection period of January 2015 to June 30, 2016 the sale prices of properties have appreciated or depreciated due to inflation or deflation. We refer to the adjustment as a `time' adjustment, although it is market conditions that are changing over time that creates the need for the adjustment. If market conditions have not changed, no adjustment is required even though considerable time may have elapsed. {CRIS. 39-1-104 ...said level of value shall be adjusted to the final day of the data -gathering period.) Sales and resales of the same or similar properties are a good indication of the changes in market conditions overtime. In addition, we run simple linear regression where we graph the sales and the month the sale occurred to indicate the trend of the market. This trend is tracked as a monthly rate of change. Since we consider one of the most important aspects of market value to be location, we determine our time trends by location, also known as economic area or neighborhood, and by the use of the property (vacant land, residential, commercial). This neighborhood had 89 sales and indicates a time adjustment of .592 % per month. 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In July of 2015, Weld County Property Appraiser Luis Munoz physically visited the property and appraised the property at $315,000 (Exhibit B Stipulation R0166594). I agreed Mr. Munoz's number in 2015. Since then, there has been no upgrade on the property. The value for my property in 2017 estimated by Weld County is too high. The value increase in my neighboring properties range from 4.2% to 16% (Table 1). Based on these increase rate, my property should be valued between $328,215 and $365,497, with an average of $344,295. The value increase rate for my property is way too high than average neighboring properties. Therefore, I think the $344,295 is the proper value for my property in 2017. Documents 1.) PetitionToCBE.pdf 2.) ReasoningOfNlyPropertyValue.pdf You have selected the following Date Preferences: July 27, 2017, at 9:00 a.m. - 10:30 a.m. July 26, 2017, at 1:30 p.m. - 3:00 p.m. July 27, 2017, at 1:30 p.m. + 2:30 p.m. July 31, 2017, at 130 p.m. - 3:00 p.m. NOTICE OF DETERMINATION Christopher M. Woodruff Weld County Assessor. 1400 N 17th Ave Greeley, CO 60631 Date of Notice: 6/30/2017 Telephone: (970) 400-3650 Far (970) 304-6433 Office Hours: 8:00A -- 5:00PM :/er- t t --.,1"rr .. �! ; t•�i1i{`yYrJ:4, +r ..f -. ':- ..~•��• .ors .YL {GTS: - :�fi .{.. __ w Y M .. ,. •� _ • - • i 3 a• v `T I•1 _ �� .t/ t.' .r.. p„ .d. ! ... • - lrf'�.t. • r • i (i�• 3 _ - .' — Fl •�.� /�. .� ar _ _ \ 11�lllll TTT lll. � � • � 1 •i eri -• 9l'•_r1 - .Sr. ra.: w^ f+f - 't•.. . '1 . -~• ... x . � -2 ].S 'e fi ,• - ♦.-J { cti Y^5�. -• ,f.,� ....--;.• "Ay . LiT � . . ��. V' _ - •. •_ t• r't.. _ �p.Y}.... • r..•• _• •' .f••• C.. _ - -.-",:-.....:.;•- � Y. ti .• ,. � .r j!. •• •1 ::a N� ,... .• • . , vtV.. .�•� .R%'� ..{r • �)'l'• .•.t v. .f/_ - ••- . - - .. ;r P. * P.. . •r .4 ••T }'�' d•i1 — Y.► .k- -. .-. -•as.• E! . r-1. , s!•• -d !. ..f..! ,-...:1-••--e- ]/• AY, 1i3f .21 1 "x. 4__ .$.,� _ � -• /JS 80186594 2017 5064 ETN CE N1-4 L4 E L1 1 CENTENNIAL SUB 40 EATON CHERRY , GO AVE --".F 4 A'r WANG Y}NGFANG ''� �' 3215 SHALLOW FORT COLLINS,CO i DAR �� - 4 •xT r .�r.. - i _fg-.5 . F:'A9 ✓ .`h ,$ �- •. - • - < .; 5' T['•� _.' . �. tom' .' 3, �� f 1, r 11 _ , .. _ �• •. P .Y.. ' c P . ti •ti ^4 f _ , •►•,•y -V Y• •_ • d - r t;'S1- .. � w •w # • 'v,^. 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'"a =3 ��:i .A��•' �� 3 . \S � �* jiYC tl..y� � ' •.rfw�l �•r 1�` .�1rar��•e�t •T3 •. °j��.. ur Y r - Y' . - 'y _ . rti T_t -ti,. - _ • •�/i i�. •J. ---ti;.. ..-kr�!1. .ir•r RESIDENTIAL 404$67 394,000 J • -7.--1/47.-r,-._ " a P a f " ` � $404, 967 $394,000 1 - -• -•• -. - i�- s - 4 :.e •'�," _.... /mow. - The Assessor has carefully studied alt 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: AL02 a The actual vafuatlon of your property has been adjusted based on new information. This may be information you have supplied, corrections of characteristics or additional sales. If you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equalization for further consideration, § 394-106(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): 16 -OPT —AR PR 207-08113 80166594 . letr., !r3 •� a aipylb*k .: l�i°¢'S r� , :72r2 CEDU r }v.... • F `41.'1- .,- i. .s` �m 3 rl;e9 ri'., _ • J _ I C }, 9 1i { County Board of Equalization Hearings will be held from July 24th through August 4 at 1150 0 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 a t, 4225 Online: http: www.co.weld.coms a s 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.5 - 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: �o rdofA will ntAppeals 1313 Sherman Street, Room 315 Denver, 80203 (303) 866-5880 ww r.dola.coloradc. ovfbaa District Court tRTEt the 'strict Court in the county where the property is located. See your local telephone book for the address and 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•1420(3), C.R.S. 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 to39-8-106(I.5 �} , � � p rap �+'` §�► $ - 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.) f 71 c v4 ill i c. r1r r� v e . ' ' ftn_s C f ' 0 ' � -- i c _ tit cro 1` ci # - e a to r � - Pgig r 0y -7b, ' 4# i i, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein and on any ?ttachments hereto are true and complete. „ tit f Telephone Number Signature pVC/ 7cc1ggr)czL J Email Address ' Attach letter of authorization signed by property owner. Date f'3/ii7 16.DPT-AR PR 207-08/13 R0166594 The Basis of My Estimated Value of My Property ,� {--�.• My property (40 Cherry Ave., Eaton, CO) (80166594) was appraised in 1/7/2014 by Katherine 5luyter at $296,000 (Exhibit A Appraisal report), In July of 2015, Weld County Property Appraiser Luis Munoz physically visited the property and appraised the property at $315,000 (Exhibit B Stipulation R0166594). I agreed Mr, Munoz's number in 2015. Since then, there has been no upgrade on the property, The value for my property in 2017 estimated by Weld County is too high. The value increase in my neighboring properties range from 4.2% to 16% (Table 1). Based on these increase rate, my property should be valued between $328,215 and $365,497, with an average of $344,295. The value increase rate for my property is way too high than average neighboring properties, Therefore, I think the $344,295 is the proper value for my property in 2017. Table 1, Property value and increase rate from 2015 to 2017 in the neighbor of 40 Cherry Aim, Eaton, Cot Address Value in 2015 ($) Current value ($) Difference 1 %Increase 40 Cherry 315,000 394,000 ! 79,000 25.1 30 Cherry 320,130 343,266 23,136 7.2 20 cherry 322,744 - 356,892 34,148 10,6 10 cherry 331,271 345,169 13,898 4.2 5 Cherry 241,805 257,221 15,416 6.4 15 Cherry 227,174 _ 263,592 36,418 16.0 35 cherry 249,159 274,270 25,111 10.1 45 Cherry 310,645 343,454 32,809 10.6 Exhibit A i 1 1 r!. •1tiOlt 7 Pay CI Qf ai • p . i r• . .P•_ •s- y - . .f- 1 ly ..ii r. . ...Tr?�i• iT ♦ • a tip.• — I s. • - -. .�• r . r IL -1r ••. a. .4'•-�:.1: t.• -.. fig, l -:::.;.° FMK -s t - . , •- : • .,- . APPRAISAL OF REAL PROPERTY a I LOCATED AT: 40 enemy AVE Ent CENI-4 L4 eLlci CENTENNIAL SUB Eaton, CO 80615 FOR: wee!* Fargo Bank, N A - 00349e6 Fart Collins, CO 80525 AS OF: 01,07/2'014 BY: k3lheflne $iuyiOf Sage 4pitr31 2610 11th SF! et: Road Su to 13 Gro*y, CC 60634 .. ' t. ' • 1 .S .r . . .� C.... . rye. • • . :, •<- r v -i .t. • Eta. - I I Ctotilgronf ViS • 06 ; in 3A2--'N:nT0TAL+ appraiso s•:tIlr re by a 4 m03e, to . —1400-ALAMON Ai. • • • a _ ▪ fl e • - J • • - Reis St_ RESIDENTIAL APPRAISAL REVIEW SHORT FORM Rsaitidt+d Use Report Ooan Rcv ew [0 desk Review w/ Data Verification Loon e: 2014014990007$ Order it 07772901 urdng institution: Lender/Client At za 'Name of Son : Pioporty Address. !Loan Number: Appraised Value enders Appraiser: Appraisers Address Revisal Appraiser: Rs view's Midges*: DESCRIPTION I . Lea! bescrildon fverifil 2. Caritas Trsti 3. Ndtrtd 4. Site Remas: iMARKET DATA ANALYSIS SECTION: 15, Documentation Numbers (} it LIICarlDil Ar itr.tinis . site & View Adiuserten:s It Quaint enter:: & Appal Adjustments ants 10. Condon Adjusinverne 20.. Room Count 3< Scuare Feet Atjuernenis 2! Amenities Adjutant's, Remark se. Ail *opted adeistments scan* reasonable 4 eppwoprlale given the data and analyses presented in Mal appraisal report under review. WEE - Phoenix H&C AU OQ1 Z# Phoenix, AZ 05029 YINGFANG WANG 40 CHERRY AVE 20140149900075 3296,000 Astatine Skyter See eraieal Report Cam' i8 Ferrell Car Eaton DOW: 01/07/2014 Phone: Phone: 3034502600 P.0_ Dow 1182 L earsomar:t. co 20s01 162 REMew ANAL. 513 . Acceptable Unacceptable NIA 21 a O El a L 0 COST ANALYSIS SECTION 3. Physics* Decrecialion 0 0 1Q_ Functional D.precistion . ti tsna.i Depreclatket Remarks: The Cosi Approach hats not been doh kw this assignment. O 0 El 91 f.� 0 C I Improvements 8. Stud. Unit 1. Contract Analyzed 5. Column Section RI 12. Lad to irntwovernent Ratio (v1Nh) 9 13_ Adjustenents i Caleb ions 14, Cmrrwss it p 0 f. mat Cstzjat °mom 23. commonte 0 El 9 ti S a a i a a 3 0 ci 24. Net Arrt Thatib 1M14.4% 2}15.2% 3)19.0% 25. Gross Adjustment Rath 1)21.3% 2)28,1% 3)35.7% 25. Compsrablo Oats Sections 27. Income A,pprrtach (if app.) 26 c rtdo Project Addenda Sate: CO bp: 80515 Acceptable Unacceplabte NIA Q 0 a a Q a 7 a a 2 a 9 4,15.5% 2 4it4% U 0 C3 'gt} o 0 IJ 0 E G 0 a 5119.7% 6)31% 0 6)35.5% 0401% 0 2g. Plat Map 30. Buidinti Sits:ch 31. Curvet -e ° Map 32. Photy Page, 33 Sietemert of tlns'dng Conditions 34. Putnam Agreement 3d. Original Signature 3€ 1064D 37. Copy of Perms For Adatacticarrveteien Rernarn: The exhibits provided appear adequate but %d i clarity due to being taxed. They ate asstaned to be dear Mtn the anginal, Un+ erwulbr 10 verify. AFA REOUIRE) 0 a 4- a a 0 0 0 0 0 3$_ Nc. tines Not Complete 39. Negate Regurrsinoait Not Mat 40. Sab(s) From Project Needed 41. Sale(s) Out of Project Needed La c O 42. Ar cienturn A e3. AdOenithein a CONDOM: M1JrNt 0 0 0 0 a D O a a a C) C C 0 44. Ieni4 Survey 4$.. Operate, Intro Statement UNITS i O o rr REVIEW CONCLUSION IQUALIV OF APPRAISAL REPORT I A Oun • Opinion of Value SuppOdedarcs with Value Inadequate - Op ni*w: o£ Value Ur supportediNew Sittornrmixted Vriltre Provided 0 Unarm -Rejw:t appraisal COMMITS: The subject Intorrnsiton and,proorty cbaraeteristka are assumed to be Pus and tweet. Sams Price: 3 Appraised Value; $x29&000 Reviewed Value: $294,000 RentOW Form 2006 I i CERTIFICATION: i certify that to the beat of my knoavledgo and belief: - • Reis --- RESIDENTIAL APPRAISAL REVIEW SHORT FORM ResttIctec Use Report Loan is. 20140140)0M Order tt: 877728D1 DEFINITION Or REVIEWED VALUE: Jetinta4gi slewiew kt the art of plotless el developing, and oornsnurtlealing en oftiion about the quaff of aU n part of ite,wort €►t another a pr2i<aer !hat wac performed Set pail ar or eppcaiNAL pperaLs.al rev w, or AOpraise tormi.ting as#Iynnent. The revnbwef'S epNllon Strout quality rrus'- ems -closet the C0tiV&si'iess. ad cuscy, cglevanee, apprppriataness, and Faastxneb:ancss tha work fader rev Q-w,toyelpped in the context n( the rec iairarnente applic]ble la that watt The reviewed value reflects the ;A:riposted value wtmin the et'prtti.Sal Otld not neteasar the glue of the 3t.r# ect t %e1'y. SCOPE Of REVIEW: The tom. at this review is 11nitact to Only t1;a information being provided by the Qrt trot atom ant. Thk retiree a ;rues all hypothetical conditions made in the t rime! appraisal report ate Mott, forrtrls an opinion as to me opponent adequacy and relevance of the dots end the oroprietyr hi arty eaiutmerrs to the deter leans tin opinion St 10 the itypropEerere5t. of the er.preisainvectiods and to hriiue5 used and develop the reasons Far tarty disagreement: forms art opinion as to whether the analyses, cpinipns, and conclusions in U e repot under re+riaw are appropriala one rsosonat;t. stile de rote ti h teasCEIS TOT any tfl,saoreeiiti►. 0 The scopo 01 this review ie irritted to only the khforrntaxi Galva prtrrltsad by original appraiser. M edMkion. in no date and price of a minimum S two ctrrxriarathie Gales are verified and dtaCiOsso vrit.`:eN this rrSow. Tura review assures all hypothetical condition' made in the# cri9trral appraisal report ere reltnbiu: (orris ern ophlntoti as to the apparent adequacy and relevance of the data and the propriety of any adjustmenta to the dew to ns an epim'ron as to the app'roprialnnae of Oa appraisal methods and Fn lnicives wsecl and cievekm tie reasons tot any disegr rrciii- frsTrI all Winittn ?9 !d whets:Jrr :ha ansly sos. cpeiarts, artd cone#jwcna in the report cinder retrk,w are &wrapr'sh r and Jeasorltnia. and develop rho reasons for 2ny disepaernant. INTENDED USE: This bi"htth scope review ie completed 10. as - SW with the undorvaitita miss INTENDED USER: The intended user of this aboraisei rt9oor% ) the icnderklleri CERTIFICATION AND STATEMENT OF LIMITING CONLetiOnp3 1 I 1. The staternunts of Fart cantaired In this rrpo"t are true and ccrrect. 2. The re ontd analyses, opinions end oanctasrstors ore limited Only by the reporiAri aatt_'rnpdorts end Irriling clurditlor's and are My persorlet, icanp eltal. and us -biased professicrta ar *sae. oriniOnS conclttsbrrs. 3. I have no presant r5r prosoecti Ja irt'eroet in the property that Is the sows of th* % Prude: rev Qtie. F1r71 no personal kfhetest with rasp < ct to the parties !nvoh'eo 4. I have to bias with inspect to the P -c -petty .hilt Is the irjla,ct of the wrk under rr,icw er to tie p. r'bcs lnvo'ved with this assignment. S. My artg,ageernorst rr: shit 2bs:ynmeent was am contingent upon baveIppirng a nepttrtang predetermined results. 6. My compsnisatiori is not contiru•,tarn or an action or event resell -ins& from the atislyzt3, {',pknhxfl. Or C J1CtusionG iii Intl; review nr from Its {J5C. 7. My compersatio I,r etvitptetirio leis assignment fv n,st conthgont upon the devok prnent or reporting Of Oredottreftried *tignrmtot results or rtssii2nment rest.lts :hat favors ttio ca isa of the thew, tha ottGtinment of a s1iC elated reta.ult, ear ihsi orcurrorc* of a subsequent wont dtrwcuy seethe' to the ir.:eryded usio Col this ap prnisul review. 8_ My &rtwtysin. opinions. end rartciusio s ware developed and this review report was prepared in , inierinary with the lJnttorrn sarda is or Professional Appraisal Practice. . t rave riot inedea parscrel insp.aciro+i of the strhje+ i op the wort, under review. 10. No One prodded significant eppio`sel, eaprobal review_ or eppraisat ConSurelig estiStente to the µOrson sicning Mitt cottilk-2t ri. (11 tient are exr eptlon& the name of e, cP ir&skh colts} providing appraisal. app:viss rsvAv,,.-, of sepc.i sec consultirg assists' non muss be scaled.) CONTINGENT AND LIMITING CONDITIONS: The csrt flentian or the R4v+iower appearing in the review won :s subject to the following conditW s and to such other specific and limiting corrdtthOris at WO SP.t Win try to Reviewer in the retrieve rvpcnt- 1. The Reviewer al:mimes no resPoets]bility t'rr rnnzten of a legal nteirc a11ercttnt; the migrant! which rs the} tubjeci o! Ibis review or the tide thereto, nor dges the Review?, rand, any opinion Al '.b the tins, vithiOi it illi*Unten to be good and rriartetabIo 2. The Ftev!ewaf It not recuire6 to give testimony or *peer in court because of having rrl.sda the teife". I�TI!c $ arrangements haw boon P�AVth416yyr made. 3. MD Slevitwor na3WFrrtieh Thai tiessre ate nc hidden or unflts'p ei'g'ht orondaent oS The prep itf. satisolt. QV Mrocturas, v,ttch'a tit id Pandit'. it mote Or brig vahrable. The Reviewer anyrnos nO resporraitigthf far Such conditions,. or for engirreenng which coign be rsQUtrsd to diRCOver 811th 4 Infort-nrgion. est"matts. herd opinions furnished to lrta RI:mimGc, and oeintela+ad ire tip review repori. %tiers obtaint4 tarn aousr.ai1: considered reliable and be ievtc) It tie MVO and rortfett- Mogvovcr. no responsibility for accuracy of suer iitcrrns furnished the Revitivior can tie tttSurtied by the Reviewer 5. DtsckiNift of the coot opts the mart is governed by the Uniform Stard'sds of Pco(essionet ApprasM Pract ..e and the Bylaws and Regulations of he profestional aopiersti orflenlitione Wit!, whiCh the appraiser is affiliated. 4- NEMMEr s'I, nOr 8riy part of Dv c ntenl of tha review report, or copy thereof [ncklblg Lho conclusions al This review. the identity of the Reviewer. professional clesionalons, reference to arty pcofess:or.af appraisal or9aninuir n, et the firm vilti wuch the Rev -sewer 'a ten rte . shall be used ter arty per es by anycrr'ra but the dent specified ;r1 the review repot. as 3ucxaasorI an, assigns. prclef donor appraisal organgetions, any stage crtec'arally approved tlnenclal tsttutiot any department. s *ncy', or instrumentality or the United LiMos ti aril Slot* Or the Divtrrct of Columbia. withcci The previous wain-cr. consent end apprraverl or:he htsnheutier T. No 'mange cif any item in Ilse review report shat' be mace by Anyone otter than the Reviser and the Reviertr' et 9hatt have no rssponsibitity for any arch unauthorized trance. A4 Reviewers SSrgrta.uro. / Rcv ewe/* Nern' . Cyrtirro d�wrrbH eteha hedge.. C+I ws @ kittOtettal ApOraifrar License or Certification tr: 1 639 $trite: CC) Expi atOn Date of License or CGeittrication: 5213112016 091e of Signature: 01;23120th Effective Date of Review oinsacne Review term 2otlG RESIDENTIAL APPRAISAL REVIEW SHORT FORM Remitted U30 Report Loan* 20140t4Q900075► Order* 67772801 STATE OF COLORADO Department of Regulatory Agencies Division of Real Estate Active Curt Residential Appraiser PRINTED ON SECURE PAPER 100004639 I Jan 1 2013 1 Dec 31 2015 Number Issas Date a exvires cvwTw;* R FERRELL LONGMONT. CO 80502 F t! PFgram Adminisitator Amaral, of License Appraiser LIcenrf Licensee Sgnalure Roost* Fungal 2 Exhibit B COUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Sep ink Number R0166594 • STIPULATION (As To Tax Year,2015_ Actual Value) RE PETITION OF NAME: YINGFANG WANG ADDRESS: 3215 SHALLOW POND DR FORT COLLINS, CO 80528 Petitioner (s) and the Weld County Assessor hereby enter into this Stipulation regarding the tax year 2015 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: ETN CENt-4 L4 BLK1 CENTENNIAL SUB 2. The subject property is classified as Residential property. 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2015: Total $371,426.00 4. After further review and negotiation, Petitioner (s) and Weld County Assessor agree to the following tax year 2015 actual value for the subject property: Total S315,000.00 5. The valuation, as established above, shall be binding only with respect to tax year 2015. 6, Brief narrative as to why the reduction was made; Reviewed comparable sales. '. Both parties agree that: The hearing scheduled before the Board ofEqualization tion on 07/30/2015 at 11 :5 Dam be vacated. R01 I DATED this 24Th day of July, 2015. Petitioner(s) or Agent or Attorney Address: (Assistant) County Attorney for Respondent, Weld County Board of Commissioners Address: 1150 UC9 Street P.D. Box 758 Greeley, CO 80632 Telephone: _ Tele hone:(970) 336-7235 County Asesso p/ Docket Number Stip- l •Fnn R0166594 Address: 1400 .1? Avenue Greeley, CO 80631 Telephone: (970) 353-3845 ext. 3697 2 mail - Stipulation form, Page 1 of 1 I ";,. fl [ Stipulation form. 1 message Luis Munoz <imunoz@co.weld.co.us> To: "yw9700@gmail.com" cyw97OO@grnail.com> IV _ Yingfang Wang <yw9700@gmatl.com> Fri, Jul 24, 2015 at 4:18 PM Hi Mr. Wang, I have attached the stipulation form. I need a signature, address and phone # on the back. Thank you, please give me a call if you have any questions. Luis Munoz Property Appraiser Natural Resources & Commercial Personal Property Weld County Assessor's Office Phone: 970 353-3845 ext. 3663 Fax: 970 304-6433 Imunoz@weidgov.com Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. if you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. --I Stipulation R0186594.pdf 11-163K httpsgoole. coati/ ail/ 0/' ui=2 1k=2 3bfc 9dad sver=1EZ PUTRTfxI.en, view ,.. 7/7/2017 July 21, 2017 Petitioner: WANG YINGFANG 3215 SHALLOW POND DR FORT COLLINS, CO 80528-9403 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 2017, WELD COUNTY, COLORADO NOTIFICATION OF HEARING SCHEDULED Docket #: 2017-2299, AS0097 Appeal #: 2008216844 Hearing Date: 7/27/2017 9:00 AM Account(s) Appealed: R0166594 Dear Petitioner(s): The Weld County Board of Equalization has set a date of JULY 27, 2017, at or about the hour of 9:00 AM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Administration Building, Assembly Room, 1150 O Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5, 2017, 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 Estimation of my property tax value for 2017 tax year Weld County assessor office assessed my property (40 Cherry Ave, Eaton, CO 80615) based on incorrect living area. The Weld County record shows the property has total above grade living area of 3423 square ft, but the actual measured area is 3235 square ft. It shows the basement area of 1422 square ft, but the actual measured area is 1286 square ft. It shows the basement fished area of 1422 square ft, but the actual measured finished area is 1222 square ft. Therefore it overestimated my property tax value. Weld County Record Actual Katherine measured Sluyter by Difference Gross Above Living Area Grade SF 3423 3235 188 Basement SF 1422 1286 136 Finished basement SF 1422 1222 200 The property on other side of the street (45 Cherry Ave, Eaton, CO 80615) was sold in January 2016 with a sale price $141 per SF. Based on its sale price my property tax value has been overestimated by $26,508. Therefore, my property tax value for 2017 should be $367,492. I attached Weld County record showing the square footage for my property. I also attached the actual measured square footage and building sketch made by Katherine Sluyter (CO certified Appraiser). We/C CO-CC/4,16) t .�2 . c -rot o -r- f La c h dam'cy t t Building !nfo`rnatior Account • R016.6524 AccountNo ID Type 1 Res aen a: ID Exterior Parcel 0707263C60.04 04 Space Account Type Resdent.al Tax Year 'C,7 Buildings 1 Building 1 Building 10 Occupancy SiecIs Fart y Residar•'ia` NBHO Occupancy K10 3 n Fant Sesideitat Roof Cover Interior HVAC 2rame Siding Dry Kaf; ID Square Ft Condo SF Total Basement SF 1 _-23 U 1. .22 Ce^ra Air to Actual Value Assessed Value 394 '300 2$.360 y Complete Bedrooms rZ 3 Baths Rooms 3 12 Perimeter Units Unit Type brake 3 Finished Basement SF Garage SF Carport SF Balcony SF Porch SF 1. _22 523 0 17.E 376 Uniform Residential Appraisal Report 114-1 File # 67710847 The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property. Property Address 40 Cherry AVE City Eaton Borrower Wang, Yingfang State CO Zip Code 80615 Owner of Public Record Wang, Yingfang County Weld Legal Description ETN CEN1-4 L4 BLK1 CENTENNIAL SUB Assessor's Parcel # 070736306004 Tax Year 2012 R.E. Taxes $ 1,879 I-. Nei hborhood Name Centennial Occupant Owner ® Tenant g Property Rights Appraised N Fee Simple Assignment Type i Vacant Leasehold i Map Reference 24540 Census Tract 0015.00 Special Assessments $ 0 LI PUD HOA $ 0 Other (describe) Purchase Transaction X Refinance Transaction n Other (describe) per year (1 per month Lender/Client Wells Far. o Bank N.A. - 0034908 Address Fort Collins, CO 80525 Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Report data source(s) used, offering price(s), and date(s Yes ES No MLS/IRES Not currently listed for sale. Has not been listed for sale during the past 12 months. i did performed, did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not E--. U Q Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source s z Is there any financial assistance oan charges, sale concessions,gift or downpayment ment assistance, etc.) to bepaid by any party on behalf of the borrower? o � 9 PY 0 If Yes, report the total dollar amount and describe the items to be paid. IJ Yes Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Clintcferisties One -Unit Housing Trends anestinit Aber . Location ❑ Urban a Built -Up I ' Over 75% o Growth Rapid (X] Stable Neighborhood Boundaries Suburban Rural Property Values Z Increasing ❑ Stable 25-75% II Under 25% Demand/Supply O Shortage Slow Marketing Time X Under 3 mths I In Balance 3-6 mths Declining PRICE AGE One -Unit 75 % Over Supply Over 6 mths Subject neighborhood is defined by the entire Town of Eaton, bounded to the m north by CR76, east by CR39, south by CR35, west by CR35 r Neighborhood Description Subject neighborhood is located in the Town of Eaton (population +/- 4500) with basic commerce, schools and some retail, z but close proximity to City of Greeley (population +/- 95,000), seven miles distant, which containspublic parks and schools, major centers of retail 000 rs 2-4 Unit 15 % 50 Low 0 Multi -Family 0 % 600 High 120 Commercial 10 % 230 Pred. 15 Other and commerce, and major centers of employment. The subiect's subdivision is comprised of all average/good quality single family homes Market Conditions (including support for the above conclusions) Generally good market conditions should result in marketing period not in excess of 120 days. Seller not typically required to pay discount fees or interest buydowns in excess of 3%. Interest rates are affordable, between 2.0% and 7.0%. See 1004mc_ Dimensions 77'X70'X130'X63'X151' Specific Zoning Classification R1 Area 14066 sf Shape Rectangular Zoning Description Single Family Residential View B; Res; Pstrl Zoning Comollance ►Ti Legal l 1 Leo al Nonconforming (Grandfathered Use No Zonin l legal (describe .Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? Z Yes ❑ No If No, describe Utilities Public Other (describe) Public Other (describe) Off -site Improvements - Type Public Private Electricity Gas Water .. Street Asphalt Sanitary Sewer Alley None FEMA Special Flood Hazard Area Yes PI No FEMA Flood Zone C FEMA Map # 08026604880 FEMA Map Date 09/28/1982 I Are the utilities and off -site improvements typical for the market area? igi Yes Q No If No, describe I Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? if Yes, describe General Description Foundation Exterior .Description ra als/c ondflton l a tid tot Units NI One One with Accessory Unit O Concrete Slab El Crawl Space Foundation Walls PouredConcr/Avg/Gd Floors Crp/Wd/Tile/Avg # of Stories 2 Full Basement Partial Basement Exterior Walls Vinyl/Avq/Gd Walls Drywall/Avg Type Det. Existing I Design (Style) Att. S-Det./End Unit Proposed Under Const. Contem Basement Area Basement Finish 1,286 sq.ft. 95 '/o Outside Entry/Exit [1 Sump Pump Roof Surface Asphalt/Avg/Gd Gutters & Downspouts Metal/Avg/Gd Window Type Vinyl/Avq/Gd Trim/Finish Wood/Avg Bath Floor Tile/Crp/Avg Year Built 1994 Evidence of Infestation Storm Sash/Insulated None age _ None Effective Age (Yrs) 15 Dampness `~ Settlement Screens PartialAvg/Gd JO Driveway # of Cars 3 i Attic Drop Stair None Stairs Floor Scuttle Heating N FWA Other Or Fuel NG HWBB Radian Amenities Fireplace(s) # 4 wir Woodstove(s) # 0 Fence End Driveway Surface Concrete Garage # of Cars 3 Cooling M Central Air Conditioning � Patio/Deck Patio M Porch Cvd Fl Carport # of Cars 0 Finished Heated individual Other Pool None Other Ba is Att. Det, Built-in Appliances N Refrigerator N Range/Oven Dishwasher Disposal Microwave ►r Washer/D er Other describe Finished area above grade contains: 8 Rooms 4 Bedrooms 3.0 Bath(s) 3,235 Square Feet of Gross Living Area Above Grade itra Additional features (special energy efficient items, etc.). Appliances that are not built-in are considered personal property and not valued in this report. ..r.., 'noun' r ;au raw. 4r r r %overt 1 i Qyc 7r c.0 in uaj Building Sketch Client Rels Valuation Property Address 40 Cherry AVE City Eaton County Weld State CO Zip Code 80615 Borrower Wang, Yingfang i • 19' 17' N 19' 12' 22' 13' 4' r 4' -11 a a a n m 14' N w 8' 10' 6 11' 58' 34' 10' 14' NINO sago MIND MEW • IPS 13 8 = 30 Hello