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Home My WebLink About20162337.tiffAugust 5, 2016 Petitioner: VALERO DIAMOND METRO INC AD VALOREM TAX DEPT PO BOX 690110 SAN ANTONIO, TX 78269-0110 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): DELTA PROPERTY TAX ADVISORS, LLC PO BOX 91898 AUSTIN, TX 78709-1898 RE: THE BOARD OF EQUALIZATION 2016, WELD COUNTY, COLORADO NOTICE OF DECISION Docket #: 2016-2337 Appeal #: 2008211228 Hearing Date: 8/4/2016 10:00 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 2016. The Assessment and valuation is set as follows: Actual Value as Actual Value as Account # Decision Determined by Assessor Set by Board R6779756 Stipulated - Approved Stipulated Value $412,028 $390,000 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 2O/ -0233 7 -50091 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 COUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number 2016-2337 STIPULATION (As To Tax Year 2016-_ Actual Value) RE PETITION OF : R6779756 NAME: Valero Diamond Metro Inc. ADDRESS: 101 Denver Ave. Fort Lupton, CO Petitioner (s) and the Weld County Assessor hereby enter into this Stipulation regarding the tax year. 2016 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: I . The property subject to this Stipulation is described as: L9 TITRU L14 BLK21 TWOMBLYS SUB BEG E4 COR. SEC Ill S45D53'E 42.24' TPO13 THE SR8D51'W 17.00' N44D06'E 24.15' SOOD37'E 17.00' TO TPOB 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 2016: Total $412,028.00 4. After further review and negotiation, Petitioner (s) and Weld County Assessor agree to the following tax year 2016 actual value for the subject property: Total $390,000.00 5. The valuation, as established above, shall be binding only with respect to tax year 2016. 6. Brief narrative as to why the reduction was made: After review of the Cost Appraoch to value indicated an adjustment. 7. Both parties agree that: EThe hearing scheduled before the Board of Equalization on August 4, 2016 at 10 AM be vacated. 2016-2337 1 020/6► -,233'7 ❑A hearing has not yet been scheduled before the Board of Equali ation. TED this 25th day of July, 2016. Petit' er(s) or Ager r Attorney (Assistakt) County Attorney for Respondent, Weld County Board of Commissioners Address: e equc ?c i Telephone: ca -i4io10 - O ( Docket Number 2016-2337 Stip- l .Frm 2016-2337 6 Address: 1150 "O° Street P.O. Box 758 Greeley, CO 80632 Telephone:(970) 336-7235 r261 County As ssor 2 Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 353-3845 ext. 3697 Esther Gesick From: Sent: To: Subject: Attachments: Wade Melies Tuesday, July 26, 2016 9:40 AM Courtney Anaya; Esther Gesick Stipulation for R6779756 R6779756 - Stipulation.pdf Here is the signed stipulation for CBOE appeal for account R6779756. Wade From: Taylor Vaughn[mailto:taylor@dettapropertytax.com] Sent: Tuesday, July 26, 2016 8:57 AM To: Wade Melies <wmelies@co.weld.co.us> Cc: Kaitlen Brown <kaitlen©deltapropertytax.com> Subject: RE: Canopies Wade, Attached is the executed Stipulation. Thanks again! Taylor Vaughn, CMI Senior Property Tax Consultant DELTA Property Tax Advisors, LLC 6110 W. Hwy 290 Austin, TX 78735 Office: Fax: 512.640.0891 512.777.4065 Cell: 512.963.1662 Email: Taylor@deltapropertytax.com www.deltapropertytax.com CONFIDENTIALITY: The information contained in this transmission may contain privileged and confidential information. It is intended only for the use of the person(s) named above. If you are not the intended recipient, you are hereby notified that any review, dissemination, distribution or duplication of this communication, and the information contained in it, is strictly prohibited. If you are not the intended recipient, please contact the sender and immediately destroy all copies of the original message. From: Wade Melies [mailto:wrnelies@co.weld.co.us] Sent: Tuesday, July 26, 2016 9:48 AM To: Taylor Vaughn <taylor@deltapropertytax.cont> Subject: RE: Canopies Taylor Here is the stipulation. Please sign and return so we can vacate the hearing. Thanks Wade From: Taylor Vaughn[mailto:taylor@deltapropertytax.com] Sent: Monday, July 25, 2016 3:01 PM To: Wade Melies <wmelies@co.weld.co.us> Subject: RE: Canopies Sounds good — we can do that. Do I need to sign a stipulation? Thanks, Taylor Va ugh n, CMI Senior Property Tax Consultant 2 DELTA Property Tax Advisors, LLC 6110 W. Hwy 290 Austin, TX 78735 Office: Fax: 512.640.0891 512.777.4065 Cell: 512.963.1662 Email: Taylor@deltaprppertytax.eom www.deltapropertytax.com CONFIDENTIALITY: The information contained in this transmission may contain privileged and confidential information. It is intended only for the use of the person(s) named above. If you are not the intended recipient, you are hereby notified that any review, dissemination, distribution or duplication of this communication, and the information contained in it, is strictly prohibited. If you are not the intended recipient, please contact the sender and immediately destroy all copies of the original message. From: Wade Melies [mailto:wmelies r@co.weld.co.us] Sent: Monday, July 25, 2016 4:00 PM To: Taylor Vaughn <tayl.orl@deltapropertytax.com> Subject: RE: Canopies I'm closer to $400K. Split the difference and call it $390,000 even. Wade From: Taylor Vaughn [rnailto:taylor@deltapropertytax.com] Sent: Monday, July 25, 2016 2:52 PM To: Wade Melies <wmelies@co.weld.co.us> Subject: RE: Canopies 3 I think that is a more accurate representation of the cost/value for canopies. That puts my value around 380K — is that in line with your value after changing the canopy? Thanks, Taylor Vaughn, CA1I Senior Property Tax Consultant DELTA Property Tax Advisors, LLC 6110 W. Hwy 290 Austin, TX 78735 Office: Fax: 512.640.0891 512.777.4065 Cell: 512.963.1662 Email: "Taylor@deltapropertytax.com www.deltapropertytax.com CONFIDENTIALITY: The information contained in this transmission may contain privileged and confidential information. It is intended only for the use of the person(s) named above. If you are not the intended recipient, you are hereby notified that any review, dissemination, distribution or duplication of this communication, and the information contained in it, is strictly prohibited. If you are not the intended recipient, please contact the sender and immediately destroy all copies of the original message. From: Wade Melies[mailto:wmelies@co.weld.co.usj Sent: Monday, July 25, 2016 3:46 PM To: Taylor Vaughn<taylorcu4deltapropertyta.x.corn> Subject: Canopies 4 Taylor We have done some review and feel canopies should be valued according to Section 64, page 2. See what you think. Thanks Wade Wade J. Melies Commercial Appraiser Weld County Assessor's Office 970-400-3672 wmelies@weldgov.com wmelies@co.weld.co.us 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. 5 NOTICE OF DETERMINATION Christopher M. Woodruff Weld County Assessor 1400 N 17th Ave Greeley, CO 80631 Date of Notice: 6/30/2016 Telephone: (970) 353-3845 Fax: (970) 304-6433 Office Hours: 8:00AM — 5:00PM ACCOUNT LEGAL DESCRIPTION/ PHYSICAL LOCATION NO. TAX YEAR TAX AREA R6779756 2016 5194 - L9 THRU L14 BLK21 TVVOMBLYS SUB BEG E4 CO R SEC TH S45D53'E 42.24' TPOB THE S88O51 'VV 17.00' N44D06'E 24.15' S00D37'E 17.00 ' TO TPOB 101 DENVER AV FORT LUPTON . CO PROPERTY OWNER VALERO DIAMOND METRO INC AD VALOREM TAX DEPT PO BOX 690110 SAN ANTONIO, TX 78269-0110 ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW COMMERCIAL 412,028 412,028 TOTAL $412,028 $412,028 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: OM05 - The law requires that data from Jan 2013 to June 2014 be used to establish current values_ We have considered all three approaches to value and we have denied your appeal based upon this data. If you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equalization for further consideration, § 39-8-106(1)(a), C.R.S. The deadline for filing real property appeals is July 15. The Assessor establishes property values_ The local taxing authorities (county, school district, city, fire protection, and other special districts) set mill levies. The mill levy requested by each taxing authority is based on a projected budget and the property tax revenue required to adequately fund the services it provides to its taxpayers. The local taxing authorities hold budget hearings in the fall. If you are concerned about mill levies, we recommend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional information. Agent (If Applicable): DELTA PROPERTY TAX ADVISORS, LLC PO BOX 91898 AUSTIN, TX 78709-1898 2016-2337 16-DPT-AR PR 207-08/13 R6779756 10610130 APPEAL PROCEDURES County Board of Equalization Hearings will be held from August 1St through August 5th at 1150 O Street. To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail, file online, or deliver a copy of both sides of this form to: Weld County Board of Equalization • 1150 O Street, P.Q. Box 758 Greeley, CO 80631 Telephone: (970) 356-4000 ext, 4225 Online: http://www.co.weld.co.us/apps/oboe/' To preserve your appeal rights, your Petition to the County Board of Equalization must be postmarked or delivered on or before July 15 for real property — after such date, your right to appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of mailing. You will be notified of the date and time scheduled for your hearing. The County Board of Equalization must mail a written decision to you within five business days following the date of the decision. The County Board of Equalization must conclude hearings and render decisions by August 5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by September 10, § 39-2-125(1)(e), C.R.S. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, CO 80203 (303) 866-5880 www.dola.colorado.gov/baa 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. District Court Contact the District Court in the County where the property is located. See your local telephone book for the address and telephone number. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2014? (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.) 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.) ATTESTATION I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein and on any attachments hereto are true and complete. Signature Telephone Number Email Address 1 Attach letter of authorization signed by property owner. Date 16-DPT-AR PR 207-08/13 R6779756 10610130 CALCULATOR COST FORM Source: Marshall Valuation Service Calculator Cost Method SQUARE FOOT COSTS 1 2 3 Store Number: 86779756 State: Colorado County: Weld 4 5 Occupancy 6 Cost Section 7 Building class and quality 8 Average floor area 9 Average perimeter 10 Effective Age 11 Region 12 Climate 13 14 Square foot cost (Bldg Includes Package A/C) 15 Sprinklers 16 Total 17 HEIGHT AND SIZE REFINEMENTS 18 Height Multiplier 19 Floor area/perimeter multiplier 20 Combined height and size multiplier 21 FINAL CALCULATIONS 22 Refined square foot cost {Line 16 x 20) 23 Current cost multiplier (Sect 99, pg 6) 24 Local multiplier (Sect 99, Pg 6 - 10) 25 Final square foot cost (Lines 22 x 23 x 24) 26 Area (square foot) 27 Replacement Cost 28 Life in Years / M&S Source 29 Depreciation % 30 Depreciation amount (Line 27 x Line 29) 31 Depreciated cost (Line 27 + Line 30) 32 Buildings' RCN less Physical Depreciation 33 Yard Improvements 34 Paving Type 35 Paving Sq Ft 36 Paving Cost per Sq Ft 37 Paving RCN (Line 35 x Line 36) 38 Sub -Total Yard Improvements RCN 39 Paving/Yard Impry Life In Years 40 Yard Improvements Depreciation % 41 Yard Improvements RCN less Physical Depr 42 Other/Extra Features 43 Total Yard Improvements RCN less Physical Depr 44 Less Functional/External Obsl (Imprvmnts Only) 45 Total RCNLD Improvements 46 Land 47 Total buildings + site improvements value Account: R6779756 Valuation date: 6/30/2014 Section I Section II Section III C -Store (419) Canopy Sect. 14, Pg 14 (494) Sect. 13, Pg 40 / Sect. 43 Pg 9 C Average C Average 2,940 217 23 23 Western Western Moderate Moderate Section I Section II Section III $88.28 $19.00 $4.01 $0 $92.29 $19.00 1.00 1.00 1.09 1.00 1.09 _ 1.00 Section I Section II Section III $100.21 $19.00 1.00 1.00 1.02 1.02 $102.22 $19.38 2,940 1,600 $300,515 $31,008 40 Sect. 97, PG 11 l 15 Sect. 97, PG 19 80% 37% (111,191) (24,806) $189,324 $6,202 $195,526 J Concrete 13,480 $4.77 $64,300 $64,300 13 80% $12,860 $0 $12,860 30% ($62,516) $145,870 $129,908 $275,778 --> Source: M&S Sect 97, PG 19 -->See Attached FO/EO Evidence -->UST Stigma Associated with C -Stores (See Attached) And New Stores Further Upgrade Portfolio CD E a) I- O to V O LL 6- (.O 1 0 co I O) C 02 L1. ` Cfr CO W CD �i1'Mr C A T a2 • • a) U co ?le Co a O_ O t LO C) 4 V ffa Co O) rafts as 0 co mil/ • C "P 0 mIPS ice ttk 0 s zs IL 1 i t� a E O 0 O co is O 0 C c1 E � C1�/ V O O 1) O z • lot Included $100,000 $250,000 $350,000 $140 ge has taken own the d is - :(I part of the hese cornpa- included iiienc'e store n. which .is a ice store ap- valu.es other ,ss appraisal doting enti-- 3rated by the rgible assets, Est. Business itiet'nce store 7 such as the gs exist over le appraiser mall single - no goodwill rship of ,ev- ef a qualified ', a chain of administra- as this may a Service, which le priority of the 'rata, a9A, RSA, ' 2002), 7-28. create a cost advantage that a single -store operation. does not: er140 -. A trained and assembled workforce is an intangible asset that has economic vahte. Be 'ruse convenience stores frequently sell as going concerns and then titust be analyzed as going -concern entities that include tangible and intangible assets. itis highly rem amended that convenience store appraisers attend the Appraisal lnstit►►te's bourse 800, Separating Real and Personal Property from Intangible Business Assets, Much of the procedure and theory in the following valuation sections is based on this course, Cost Approach Applying the cost approach to canveruenc�e stores is similar to applying the cost a.p- proac-,In to other property types. Estimating the site value and replacement cost of the in►provemerits in the cost approach will be useful in allocating the €a-ngible assets in the sales comparison and income capitalization approaches. With few exceptions, the site value establishes the minimum threshold of value for the tangible assets, while the replacemeTit cost of the improvements phis the site value establishes an upper limit of value iinr the tangible assets. The cost approach does not include consideration of the value of intangible as- sets such as capitalized economic profit or franchises, and developing estimates of depredation is often difficult, Types of physical deterioration, functional obsoles- cence, and external obsolescence unique to convenience stores are described below. Physical Deterioration in Convenience Stores Convenience stores receive a great deal of daily customer traffic because the stores typically sell high -turnover items such as milk and bread. and are open longer than most other types of retail businesses. The high customer traffic causes the floor coverings, restroom fixtures, and other features to wear out q'rtic,k:ly. The automatic doors and asphalt paving in the forecourt may also deteriorate more quickly than those elements in other retail stores. On the other hand, the building foundation, exterior shell, and roof are similar to other types of commercial construction and usually rich not experience any abnormal deterioration. The fuel service, ' 7 , T sei��ce, even when it is classified as part of, the real property, will have an economic life that is shorter than that of the building. Functional Obsolescence The convenience store industry is intensely competitive. Old formats and business models for store operation arc continually bei.n, replaced with new ideas. To re- main competitive, each store must modernize and upgrade frequently; A (0 -year - old convenience store can be f.rh}sit alit adequate but Rind ionatty obsolete when new design standards dominate the market. Fur exit nipie, .sorue earl! stores were tots small tit accommodate its -.store flood sen ire, which et,ttid be a t'urni of func- tional obsolescence, Valuation Assessment 105 Page 1 of 1 stigma Damages: Property Damage and the Fear of Risk Courts are struggling with the public porky considerations of where to draw the line between just compensation and cost to society BY TIMOTHY I, Muwowmw AND KENDALL 77'4 HARRISON TODAY, more than ever before, concerns about risk abound. Whether it be the risk posed by an abandoned landfill, an inactive industrial site or a. farm with a leaking underground stor- age tank, people fear that environmental risk — health problems or financially devastating legal liability for cleanup or repair ---w, be over- whelming. Not surprisingly, concern about en- vironmental contamination can affect publ perception of the value of property. An environmental stigma results from percep- tion of uncertainty and risk. It may be relatively easy to quantify the cost to remedy a simple con- tamination problem, such as a leaking under- ground storage tank. However, as the complexity of the contamination increases, the level of uncer- tainty and perceived risk rise.s.t Stigma, of course, can be associated with matters other than environmental contamina- tion,. It has been claimed to affect the value of buildings that have had structural damage or defectsor that have been infested by termites. Here, too, negative public reaction to risk awl worry about future problems is often the basis for the claim of the stigma and accompanying damages. Claimants assert that prospective pur- chasers will not take the chance that the stigma - causing problem might recur or that repair or remediation might not have been a complete solution. In short, where stigma is claimed to exist, property owners often seek recovery for market value losses in addition to whatever repair costs might be involved. The damages they seed are commonly labeled 'stigma damages NATURE OP STIGMA DAMAGE it What Is Stigma? Stigma can result from a multitude of fac- tors, including a simple fear of the unknown) People fear what they do not understand and MDC member Timothy .l. Muldowney is a partner In l aFollette sinykin. Madison, Wis- consin, and a graduate ir#4 the University of Wisconsin -Madison (BA. 1974) and the Uni- versity f Wisconsin Law School (10.1977). Kendall Il . Harrison 4 a Judicial clerk for the U.S. District Judge Barbara D Crabb of the Western District of Wisconsin, He is a graduate of Duke University (BA. 1991) and the University if Wisconsin Law School (.1.D„ 19951 feel they cannot adequately control. Real estate purchasers are no different The level of fear and severity of concern increases according to the complexity of the stigma -inducing problem. Even if a contaminated property has been re- stored to the extent that present technology al- lows and indemnity is offered to protect against future problems, sometimes the property still might not attract purchasers.3 Stigma, however, is not entirely irrational. Because it is premised on public uncertainty and lack of complete knowledge, purchasers may have legitimate concerns for property val- . For rational reasons, they may choose to avoid properties where the potentialfor future problems exists. They may even ignore scien- tific assessments of the nature of a problem — say, an environmental c eaA gip assessment —or protection, such as, a seller's warranty or agree - meat to indemnify. Yet, when the stigma -inducing activity has not physically affected a claimant's property, but rather has touched only surrounding proper- ty, it seems less rational for a purchaser to sup- pose that an environmental consultant's clean bill of health given to the surrounding property I. BM Many, &1, mo and Yale.] APPRAISAL 3. 7 10 (Mn. 1992) [hereinafter Mundy]. 2. Peter Patchin, Contaminated Properties—Sdgma Re- visited, APPRAISALS. 167 (April 1991). 3. 14 at 169. http://heinon(ine.org/HOL,Viewirna.geLocal` handle=he:in.aourna.ls/def on52&div�g5&col1... 5/14/2012 and recorded in an adjustment grid. The consistency of the results will be affected by how physically similar the sale properties are to the subject The store building's vatic Gus physical components —the fuel service, food senvicer and carwash—should be treated as separate line item adjustments. Examples of convenience store adjustment catego- ries processed in the sales comparison approach are shown in Table 7,4 using the information from Sample Sale it Sale it is comparable to the subject in location, site size, store building, and food service. However, adjustments are required for food ser-. vice and a carwash. Sale 11 has a 750-sq.-ft. quick -service restaurant and an exterior - rollover carwash. The subject has no branded food service and net carwash. Sale At ust mentsa The location adjustment should include consideration of vis- ibility, traffic characteristics, and the location's competitiveness. A high -visibility location with too many competitors may not be as good as a less visible location R Table 7.4 Example of Adjustment Categories, • Price per Square Foot Comparison Sale price (real property) Date of sale Adjustment Condition of sale Adjustment Base sale price Location Site Building size Building age/condition Fuel service includes dispensers and canopy Food service Carwash Other Net adjustments Indicated value N/A N/A N/A WA N/A N/A Average 20,000 sq. ft. 3,000 sq. ft. Two years/good Good None None None $305.89, Fehruary 1997 +10% Typical 0% $336.48 Inferior +5% 21,300 sq; ft 0% 3,024 sq. ft: 0% Three years/good 0% Good 0% QSR -25% Exterior -rollover -5% None 0% -25% $252.36 Convenience Stores and Retail Fuel Properties: Essential Appraisal issues ,• 114 -. , , • r" `, l r � t+'\ '; cr' , < �Y. :'r-- �. .•,..:4144,1' 1I1 9!l,iil - ��t �•�. • a24 -I with less competition., ' factors. Frontage and a to the overall site area, and carwash are treat For example, one stor graded fuel service an. building but older, ini components separate, Technology and de age and condition adjt limited number of sail store to a newer store, Convenience store fore, the fuel service, son approach can logi gin. The calculations • tributions to the gross Note the wide difi) (60%) and fuel profits t developed for the mar: Table (7.5 Adjustment C Gross dollars Gross profit (%) Gross profit (dollars) Gross Profit Summary Fuel Merchandise Food service Carwash Total Fuel Merchandise Food service Carwash frerii D[itL Property Tax Advisors P.O. Box 91898 Austin, TX 78709 Ph: (512) 640-0891 9 Fax: (512) 777-4065 www.de lta p ro pe rtyta x. co m July 15, 2016 Weld County Board of Equalization 1150 0 Street P.O. Box 758 Greeley, CO 80631 RE: Tax Year 2016 Appeal/Protest for: Certified Mail Receipt: 7016 0910 0000 6062 6101 TAXPAYER ACCOUNT / PARCEL ADDRESS ASSESSOR MARKET VALUE TAXPAYER ESTIMATE OF MARKET VALUE CST Metro, LLC R2396786 426334 ie i 1 -3 f el 2720 35TH AVE R4060986 113 N 2ND ST 486,394 .� i ']0 -`?, CST Metro, LLC Valero Diamond Metro, Inc. R6779756 101 DENVER AVE 412,028 2 7 9 , 770 Dear Sir or Madam: Please accept this protest of assessment for the property listed above. We are protesting the assessed value for the following reason(s): X Property is appraised in excess of market value as of June 30, 2014 for 2016 Tax Year - X Property is valued unequally compared with other property in the jurisdiction. X Other action of the chief appraiser, appraisal district, or appraisal review board that applies to and adversely For our records, please acknowledge receipt via email to david@deltapropertytax.com. Please see the enclosed updated Agency Authorization Form and update your records to reflect the Authorized Agent change to Delta Property Tax Advisors and send all correspondence regarding this protest to our address below: % DELTA Property Tax Advisors P.O. Box 91898 Austin, TX 78709 Should you have any questions or require additional information regarding the filing of this 2016 Protest, please contact me at (512) 640-0891 or via email at david@deltapropertytax.com. Respectfully, DELTA Property Tax Advisors David T. DeLeon, Jr., CMI Managing Partner D LETTER OF AUTHORIZATION RECEIVED JUL 2 1 2016 WELD COUNTY COMMISSIONERS CST Brands, Inc. and companies owned by CST Brands, Inc, hereby appoints Delta Property Tax Advisors, LLC as agent for the purpose of filing business personal property and real estate renditions, filing assessment appeals, filing applications or petitions of review of valuations with all Counties, Appraisal Districts, Property Appraisers, Boards of Assessors, Boards of Equalization and Value Adjustments Boards, appearing on our behalf before said Boards, examining any records, and discussing with the appropriate governmental authority the assessment of any property owned by CST Brands, inc. outside the State of Texas I further authorize Delta Property Tax Advisors, LLC to receive all communication from the assessor's and tax collector's office of all notices, appointments, decisions and tax bills such as: Personal Property Reporting Forms Proposed Value Notices Hearing Notices & Hearing Results Tax Bills Property Tax Agent contact & mailing information: Delta Property Tax Advisors, LLC P.C. Box 91998 Austin, TX 78709 if you should have any questions, please give me a call. Respectfully, CST Brands, Inc. Tracee Neal, Tax Specialist Phone: (512) 640-8891, Fax: (512) 777-4065 PRINTED NAME & TITLE C State of County of 4110N DATE Before me, eL ('t (An r t,c \/ w 5 l; Lt19. (notary name) on this day personally appeared (RipCa & e .j& A t , known to me to be the person whose mark is made on the foregoing instrument and acknowledged to me that he executed the same for the purposes and consideration herein expressed. Given under my hand and seal of office this (6 day of PPP I I., , 2016. (seal) CUQ'Dftbla )SCUBA,; Notary Public h STATE OF TEXAS ► My Comm, Exp. 1111.212016 ID# 7692938 L i•eikPildteliartC r SAG (Notary Public's Signature) e------- USPS.com® - USPS Tracking® https://tools.usps.corn/go/TrackConfirmAction?tLabels=701609100000... 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Sign up for My USPS LEGAL INFORMATION Privacy Policy Terms of Use FOIA No FEAR Act EEO Data 1 of 2 7/21/2016 5:34 PM ©IWWO)r- Ifl '.' irk'CO -J co q) OG o a a rR -a C1 Ca r ti 0 -4 C) U) n O 17; /I, July 22, 2016 Petitioner: VALERO DIAMOND METRO INC AD VALOREM TAX DEPT PO BOX 690110 SAN ANTONIO, TX 78269-0110 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): DELTA PROPERTY TAX ADVISORS, LLC PO BOX 91898 AUSTIN, TX 78709-1898 RE: THE BOARD OF EQUALIZATION 2016, WELD COUNTY, COLORADO NOTIFICATION OF HEARING SCHEDULED Docket #: 2016-2337, AS0094 Appeal #: 2008211228 Hearing Date: 8/4/2016 10:00 AM Account(s) Appealed: R6779756 Dear Petitioner(s): The Weld County Board of Equalization has set a date of AUGUST 4, 2016, at or about the hour of 10:00 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, 2016, 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