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HomeMy WebLinkAbout20151386.tiff RESOLUTION RE: ACTION OF THE BOARD CONCERNING PETITION FOR ABATEMENT OR REFUND OF TAXES -WIND SHORE, LLC WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, the Board of County Commissioners of Weld County, State of Colorado, at a duly and lawfully called regular meeting held on the 18th day of May, 2015, at which meeting there were present the following members: Chair Barbara Kirkmeyer, and Commissioners Mike Freeman, Sean P. Conway, Julie A. Cozad, and Steve Moreno, and WHEREAS, notice of such meeting and an opportunity to be present has been given to the taxpayer and the Assessor of said County, with said Assessor, Christopher Woodruff, being present by, and taxpayer, Wind Shore, LLC, being represented by their agent, David Johnson and WHEREAS, the Board of County Commissioners has carefully considered the attached petition, and is fully advised in relation thereto. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Board concurs with the recommendation of the Assessor and the petition be and hereby is, denied, and an abatement or refund be allowed as follows: CORRECTION TO ASSESSED ABATEMENT TAX VALUATION OR REFUND YEAR $0.00 $0.00 2012 2015-1386 AS0090 TAX ABATEMENT PETITION -WIND SHORE, LLC PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 18th day of May, A.D., 2015. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO A l. ATTEST: Cam( �,�,/ It rte• .�ClLo�� :`Barbara K kmeyer, Chairs �` Weld County Clerk to the Board )_fi Mike Freeman, Pro-Tem BY!'i Okij a.) . i eej uty Clerk to the oard �r.•.�, c` �� �— #� L / 4 , Seam. Conway ..-.--) • APPROVED AS TO FOR J. �4i I f a 1 i..� cit=�D�z�. 'Julie A. ozad County ttorney ikr- fiqk , j12.p2¢.......tc- ( i A 4. Steve Moreno• tflDate of signature: / 2015-1386 AS0090 PETITION FOR ABATEMENT OR REFUND OF TAXES ;)/ /' r; , i' r County:WELD Date Received i� (Use Assessors or Commissioners'Date Stamp) Section I: Petitioner, please complete Section I only. e Date: 12/12/2014 Month Day Year DEC 2 9 2014 Petitioner's Name: Joseph C. Sansone Co.,Attn: David Johnson Wli�Q COUNTY AS.R SOf Petitioner's Mailing Address. 18040 Edison Ave. R F) FY E'f7f ry. Chesterfield MO 63005 City or Town State Zip Code SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY R0126095/080716300014 208 Main St and 220 Main St Petitioner requests an abatement or refund of the appropriate taxes and states that the taxes assessed against the above property for the property tax year 2012 are incorrect for the following reasons: (Briefly describe why the taxes have been levied erroneously or illegally,whether due to erroneous valuation, irregularity in levying, clerical error, or overvaluation. Attach additional sheets if necessary.) The Assessor's calculation of the property's fair market value exceeds the property's actual fair market value. RECEIVED Petitioner's estimate of value: $539,110 (2012 ) WELD COI j N TY COMMValue Year M LSS i NE"P; I declare, under penalty of perjury in the second degree, that this petition, together with any accompanying exhibits or statements, has been prepared or examined by me, and to the best of my knowledge, information., and belief, is true, correct, and complete. >u Daytime Phone Number Petifitrers S 4tur4 / O CP i -1 a.ems � sd By >.Oj � Daytime Phone Number(636 ) 733-5455 Agent's Signature 'Letter of agency must be attached when petition is submitted by an agent. If the Board of County Commissioners,pursuant to§39-10-114(1),C.R.S.,or the Property Tax Administrator,pursuant to§39-2-116,C.R.S., denies the petition for refund or abatement of taxes in whole or in part,the Petitioner may appeal to the Board of Assessment Appeals pursuant to the provisions of§39-2-125.C R S,within thirty days of the entry of any such decision,§39-10-114 5(1),C.R S. Section II: Assessor's Recommendation (For Assessor's Use Only) Tax Year 2Qt4- ��77Acctual Assessed Tax Original , C/f. nv 7/Z/409t 39, 12 ,4 D Corrected �e-17d1, no 37 2,O0 3P, 71V. 31) Abate/Refund 2015-1386 ❑Assessor recommends approval as outlined above. If the request for abatement is based upon the grounds of overvaluation,no abatement or refund of taxes shall be made if an objection or protest to such valuation has been filed and a Notice of Determination has been mailed to the taxpayer,§39-10-114(1)(a)(I)(D),C.R S Tax year: Protest? ❑No 0 Yes (If a protest was filed,please attach a copy of the NOD.) • Assessor recommends denial for the following reason(s): ,),7,c...;,9 ✓U?-� �-urcZ ) tx O Assessor's o eputy Assessor's Sig tore 15-DPT-AR No.920-66/11 _ FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY • (Section III or Section IV must be completed) Every petition for abatement or refund filed pursuant to§39-10-114.C.R.5.shall be acted upon pursuant to the provisions of this section by the Board of County Commissioners or the Assessor,as appropriate,within six months of the date of filing such petition,§39-1-113(1.7).C.R.S. Section III: Written Mutual Agreement of Assessor and Petitioner (Only for abatements up to$10,000) The Commissioners of County authorize the Assessor by Resolution No. to review petitions for abatement or refund and to settle by written mutual agreement any such petition for abatement or refund in an amount of$10,000 or less per tract, parcel, or lot of land or per schedule of personal property, in accordance with§39-1-113(1.5), C.R.S. The Assessor and Petitioner mutually agree to the values and tax abatement/refund of: Tax Year Actual Assessed Tax Original Corrected Abate/Refund Note.The total tax amount does not include accrued interest,penalties,and fees associated with late and/or delinquent tax payments,if applicable. Please contact the County Treasurer for full payment information. Petitioner's Signature Date Assessor's or Deputy Assessor's Signature Date Section IV: Decision of the County Commissioners (Must be completed if Section III does not apply) WHEREAS, the County Commissioners of County, State of Colorado,at a duly and lawfully called regular meeting held on / / , at which meeting there were present the following members. Month Day Year with notice of such meeting and an opportunity to be present having been given to the Petitioner and the Assessor of said County and Assessor (being present--not present)and Name Petitioner (being present--not present), and WHEREAS,the said Name County Commissioners have carefully considered the within petition, and are fully advised in relation thereto, NOW BE IT RESOLVED that the Board(agrees--does not agree)with the recommendation of the Assessor, and that the petition be(approved--approved in part--denied)with an abatement/refund as follows: Year Assessed Value Taxes Abate/Refund Chairperson of the Board of County Commissioners'Signature County Clerk and Ex-Officio Clerk of the Board of County Commissioners in and for the aforementioned county, do hereby certify that the above and foregoing order is truly copied from the record of the proceedings of the Board of County Commissioners. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County this day of Month Year County Clerk's or Deputy County Clerk's Signature Note. Abatements greater than$10,000 per schedule,per year,must be submitted in duplicate to the Property Tax Administrator for review. Section V: Action of the Property Tax Administrator (For all abatements greater than$10,000) The action of the Board of County Commissioners, relative to this petition, is hereby ❑Approved ❑Approved in part$ LI Denied for the following reason(s): Secretary's Signature Property Tax Administrator's Signature Date 15-OPT-AR No.920-56/11 AGENT AUTHORIZATION TO: Assessor's Office and the Assessment Review Agency WIND SHORE LLC hereby authorizes and appoints Joseph C. Sansone Company to act as agent with full authority to handle all matters relating to ad valorem tax matters. This includes but is not limited to filing of property tax declarations or other documents with you or the Assessment Appeals Board, examining any records in your office which I have a right to examine, appearing before any assessment officer or board and discussing assessments and resolving disputes with you concerning the assessment on property for which I am responsible for the property taxes. This agency shall terminate when all matters relating to the 20 i 4'ugh 2015 assessments are resolved. WIND SHORE LLC ,, EXACT NAME OF PROPERTY O t NOTE OF VALUATION) Ft 208 Main Street,Windsor,CO 80550 it, 1 ;0428095/080716300014 STREE ADDRES S ?ULE/PARCEL NUMBER AUT ORIZE SIGNATURE *. PRINT NAME OF SIGNER 1 2-(/ 41AN4G12 DATE TITLE 970.686-9191 PHONE NUMBER State of Colorado City of w,(Aso r • rA �I On this day of •,2014 before me,the undersigned officer,personally appeared A- r' -4el1LQ r known to me(or satisfactorily proven)to be the person whose name is subscribed to within the instrument and acknowledged that he executed the same-for the purposes therein contained. Inwitness hereof 1 hereunto set my hand and official seal. 100 SARAH E SHUBERT Public NOTARY PUBLIC STATE OF COLORADO NOTARY IV 20144017662 8tYCORNHSSt01 EXPIRES 040012018 • 04/27/2015 Attn: Chris Woodruff RE: 2012 Abatement received 12/29/2014 R0126095 Owner: Wind Shore LLC Industrial Flex mall building 208 Main Street Windsor, CO 2012 Assessors Value$1,067,330 or$65/sf SUBJECT: The subject property is 16,588 sf of Industrial Flex Mall space in 2 separate buildings. The property is located at 208 Main Street in Windsor with good visibility and access. The improvements were built in 1997 and 1998 and have been well maintained throughout the years. The various units are occupied by a mix of retail and service companies, each having store front and storage in the rear with rear overhead garage doors. The property owner is represented by Joseph C. Sansone tax agency and is requesting a reduction in value for 2012 from $1,067,330 to$539,110.The petitioner has not provided any documentation or analysis to support a reduction in value. Market Approach: Sales of Industrial Flex buildings similar to the subject were analyzed. For the 2012 value, market data revealed the best comparable sales ranged from $67 psf to $127 psf. R7533299 & R7533399 - 3773 Monarch St, Frederick. Sold 06/30/2009 for$67 psf R8122599—1020 Carbon Court, Erie. Sold 07/17/2008 for$81 psf R6994598—6380 W. 10th St, Greeley. Sold 05/04/2009 for$60 psf(single condo unit) There were no sales of Industrial Flex Mall space in Windsor in the prescribed base period. Comparable 1 was considered to be the most similar to the subject property in terms of size, age, and condition. Cost Approach: Due to the age of the buildings this approach was considered but not developed. Income Approach: There was a lease in Windsor of a 9,600 sf Ind. Flex Mall in 2009-10 for$5.82/sf nnn. Applying this lease rate to the subject, with 10%vacancy, 8%expenses, and an 8%cap rate equates to a total value for the subject of$999,213. Reconciliation: Due to the data presented here on the Market Sales Comparison Approach, we recommend sustaining the Assessor's values for 2012. IS bulking sine 3878.8' 's, et;hu: 749 , w H / ' . .,iRetail area 1279 sq.t is its : i.ti , . . Artyb warehouse/shop + "'tp• 8 2100 sq.tt. Storage rabwe 15'wallheight {n,��: —....4 .. ' •-.r Ella i r • k Industrial Flex Structure Total building size 12910.0' - ?70.0 250 1 25.0 1 ! 20.0' i i >� l I I ! I I — _ - a I i i I I i i t1nN A b %, II__ •, lfill _ _, . z B Unit' l ! ! ! ! " _ � - I I I 1 i I I .. w� _ I i I I 1 I Y 1 • I lay wC �• s, • 5.0' 19.0' 5.0' 1 120' 5.0' 5.0' 19.0' 110.0' .0' �'r 19.0 38 0 38.0' 38.0' 79.0 y - • T. ,- • x _ :Art Ail I — hobby . CLERK TO THE BOARD PHONE: (970) 336-7215, EXT. 5226 1861 FAX: (970) 352-0242 1150 O STREET P.O. BOX 758 �� •:� GREELEY, COLORADO 80632 May 1, 2015 Wind Shore, LLC 208 Main Street Windsor, CO 80550 RE: SCHEDULE NUMBER R0126095 Dear Property Owner: This is to advise you that the Weld County Board of Commissioners will hear your petition for abatement or refund of taxes on the property described as: 208 and 220 Main Street, Windsor. The meeting is scheduled for May 18, 2015, at 9:00 a.m., in the Chambers of the Board of County Commissioners of Weld County, Colorado, Weld County Administration Building, 1150 O Street, Assembly Room, Greeley, Colorado 80631. The Assessor is recommending that the Board deny your petition. You are not required to be present at this hearing; however, this is your opportunity to have your position heard, particularly if your position is opposed to the Assessor's recommendation. If you intend to submit any documentation in support of your position for this hearing, all such documentation must be submitted to the Office of the Clerk to the Board and to the Weld County Assessor's Office at least seven calendar days prior to the meeting date in order for it to be considered at the scheduled hearing. If you have any questions concerning this matter, please do not hesitate to contact me at (970) 336-7215, Extension 5226. Kerely, Raa A. Martinez Deputy Clerk to the Board cc: Assessor Joseph C. Sansone Co. Attn: David Johnson 18040 Edison Avenue Chesterfield, MO 63005 REAL PROPERTY SUMMARY ANALYSIS OF Windshore LLC 208 Main Street Windsor, CO 80550 Parcel ID(s) Appeal Number 080716300014 As of 1/1/2012 Prepared By: p JOSEPH C. SANSONE COMPANY 18040 Edison Avenue Chesterfield, Missouri 63005 <This is not an apps<isal> This information is provided by the Joseph C.Sansone Company as an authorized advocate and representative of the property owner or taxpayer, Therefore,the information is not and should not be considered an objective analysis of the value of the subject property interest. The information is not intended to constitute an"appraisal"or"appraisal report"pursuant to the Uniform Standards of Professional Appraisal Practice("USPAP")or Missouri law. No one from the Joseph C.Sansone Company is acting as a licensed or certified real estate appraiser in this matter.Whether any person involved in the preparation or presentation of the information is a licensed or certified appraiser is of no importance and the information and presentation are not intended to comply with the USPAP requirements of appraisal practice. G20/5 13135 208 Main Street PTR Number:15321700001CO Location I Ds:080716300014. Tax Year 2012 / Pay Year 2013 Area Type WAREHOUSE location Totals Gross Building Area 16,588 16,588 Net Leaseable Area 16,588 16,588 Potential Gross Income 6.00 99,528 6.00 99,528 Vacancy and Credit Loss 10.0% 9,953 10.0% 9.953 Effective Gross Income 89,575 89,575 Overall Expense 10.0% 8,958 10.0% 8958 Net Operating Income 8- L 80,618 Base Cap Rate 9.250 Adj Tax Rate 0.281 Adj Cap Rate 9.531 Value Sum 845,820 Indicated Value 846,000 Total Indicated Value per SF(NLA) 50.99 Prepared for Presented by Zeke Sansone 5115/2015 Joseph C.Sansone Co. (636)537-2307 mmcdonald@jcsco.com License:jkhvhgchc Sold Property Comparison Report for Industrial Properties :9'47 Address 5874 Langley Ave 561 Garden Drive, 1542 Taurus Ct Loveland,CO 80538 Unit J Loveland,CO 80537 Windsor,CO 80550 Property Type Industrial Industrial Industrial Property Subtype Distribution Flex Space Flex Space Warehouse Zoning Year Built 1994 2009 Building Size 13,440 SF 3,140 SF 4,515 SF No.Units No.Stories 1 2 Lot Size 1.97 Acres 0.10 Acres APN/Parcel ID 86273-18-001 85182-30-542 Sale Date 08/03/2010 01/11/2010 08/31/2009 Sale Price $764,250 $130,000 $266,000 Sale Price Per $56.86/SF $41.40/SF $58.91/SF Cap Rate Estimated Days on 559 74 LoopNet Marketplace Notes RERC REAL ESTATE REPORT REAL ESTATE WVWV.RERC.COM I CORPORATION SUMMER 2010 Regional Investment Criteria—20 2010 Second-Tier Investment Properties Office Industrial Retail , COD I Suburban Warehouse I R&D I Flex Regional Mall!Power Center'Neigh/Comm Apartment Hotel West Investment Criteria Range 80-130 80-130 8.0-12.8 8.0-13.8 7.5-13.8 80-130 75-130 80-130 7.0-12.0 90-150 Average 10.7 10.9 10.4 10.7 10.6 10.7 ( 10.6 10.8 9.7 12.2 ➢" ►Calk Range 75-110 70-110 7:0-11.0 7.0-13.0 7.5-13.0 6.5-13.0 68-110 65-110 5.8.10.0 75-125 Average 8.7 8.9 8.6 9.0 8.9 / 8.8 8.8 8.7 7.6 10.3 - *04 P,Ret. Range 78-115 75-120 7,5-11.5 7.5-11.5 8.0-11.5 70-130 70-115 73-115 6.3-10.5 80-130 Average 9.4 9.6 9.2 9.6 9.5 9 4 9.5 9.5 8.1 11.0 Midwest Investment Criteria tire-IazY&dORM( - - Range 95-140 10-0-150 9.0-15.0 9.0-14.0 9,0-15.0 90-125 90-120 90-125 9.0-12,D 105-140 Average 11.6 , 11.7 11.2 11.1 11.4 11.0 10.9 10.6 I 10.3 12.7 Range 80-120 85-120 8.0-11.0 8.0-11.0 8.0-11.0 80-105 80-108 80-110 6.5-10.0 90-125 Average 9.5 • 9.6 9.4 9.5 9.6 9.3 9.2 9.4 8.6 10.7 Temunal Cap.Rlite(x) Range 90-120 90-120 8.3-14.0 8.8-12.0 8.5-13.0 85-110 85-115 85-120 7.5-11.0 £5-130 Average J 10.2 101 10.1 10.1 10.3 9.8 9.8 9 9 9.1 11.4 South Investment Criteria Pie#exYIedPIOt9 Range 90-130 90-140 8.5-13.5 8.3-13.0 8.3-13.0 90-125 90-130 83-130 8.0-14.5 110.145 Average 11.1 11.2 11.0 _ 11.0 11.1 10.8 110 11.1 10.6 12.6 fishy:la Ca. IV Range 80-105 80-115 8.0-11.0 7.5-11.0 8.0-11.0 75-120 7.8-120 7.8-115 6.8-11.3 80-120 Average 9.2 93 } 9.3 9.5 9.6 9.3 9.4 9.4 8.7 10.3 'Yern+ina1 C"Ratsa.% . Range 83.110 8-5-130 8.3-13.0 7.8-13.0 8.5-13.0 85.140 85-140 80-130 7.0-13.0 85.130 Average 9.8 9.9 10.0 10.2 10.3 10.2 10.0 9.9 9.5 10.9 East Investment Criteria pre-t,x Yd1l J,t Range 85-125 90-125 9.0-13.0 9.0-13.0 8.8-13.0 83-125 8.3-125 85-123 7.5-11.0 100-150 Average 1 10.0 10 5 10.6 10.9 10.9 10.4 10.2 10.3 9.7 12.3 10 Cap date(%) _ Range 70-115 75-115 7.8-11.D 7.8-11.5 7.8-11.0 68-100 73-100 75-110 6.0-10.0 75-130 Average 8.5 9.0 9.2 9.3 9.3 87 8.7 9.0 8.1 10.2 Terminal Cap hate ) Range 75-120 80-120 8.3-12.0 8.3-12.0 8.3-12.0 75-120 78-105 80-115 6.5.10.5 90-135 Average 9.2 9 6 9.8 10.0 9.9 9.4 9.4 9.6 8.7 11.2 'Second-tier investment properties are detned as aging,former first-tier properties,in good to average locations, A If of RERC Defined Regions is located In the back of this report in the'Scope and Methodology'section. 02010 Rol ista*Flaseirelt Corp:nibs.AldohdHeardOdaertd indy818 Inn*Frey not bscopddorMwos, dMwryformetladupronwrittencanentdREfaC. [29 CLERK TO THE BOARD 1861 PHONE: (970) 336-7215, Ext. 5226 FAX (970) 352-0242 1150 O STREET �r P.O. BOX 758 ! ■■ GREELEY, COLORADO 80632 04644,4\0 1J NTY -;7) June 16, 2015 Wind Shore, LLC 208 Main Street Windsor, CO 80550 RE: SCHEDULE NUMBER R0126095 Dear Property Owner: On May 18, 2015, the Board of Weld County Commissioners considered your petition for abatement or refund of taxes and denied same. Pursuant to Section 39-2-125(f), C.R.S., you have the right to appeal this decision to the State Board of Assessment Appeals within thirty days. You may obtain the appropriate forms and instructions from: Board of Assessment Appeals, Department of Local Affairs,1313 Sherman Street, Room 315 Denver, CO 80203 Phone: 303-866-5880 In preparation for appealing to the State Board of Assessment Appeals you may also go to the following state link to obtain any further information you may need to proceed, http://www.dola.state.co.us/baa/index.htm Very truly yours, ()0 Ra aela A. Martinez Deputy Clerk to the Board cc: Assessor Joseph C. Sansone Attn: David Johnson 18040 Edison Avenue Chesterfield, MO 63005 RM/eg U.S. Postal ServiceTM U.S: Postal ServlceTM ❑ CERTIFIED MAILTM RECEIPT • ,� m CERTIFIER 'MAILTM RECEIPT r� (Domestic Mall only;No Insurance Coverage Provided) N (Domestic Mail gnly;No Insurance Coverage'Provided) in o F r• livery Inf rmatlon visit urwe• to at wwwus s....ma For delivery Information visit our webstte at www.usps.coms Er cr En ❑ j u1 Postage $ Lrl Postage $ fT'1 Certified Fee r7l p ❑ Certified Fee CI — Postmark Return Receipt Fee Here Return Receipt Fee Postmark (Endorsement Required) ❑ (Endorsement Required) Here O Restricted Delivery Fee --- — O Restricted Delivery Fee Er (Endorsement Required) Er- (Endorsement Required) ED fl_I Total Postage&Fees $ rU Total Postage&Fees I i Sent To j Sent To ---54 PVI4Ut.rN-▪ Street,Apt.No.; ^ N tStreet,Apt.No.; k, ii or PO Box No. „[n yN�(�.a �-�t�.osi er PO Box No. \141,,)9O t�_I • . _- t \n k . n City,State,ZIP+ • 1�lW-r1? 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Article Number (Transfer from service 7 0 0 4 2 8 9 SENDER: COMPLETE THIS SECTION C•M•LETETHISSECTI•N •N •EL/VE•Y PS Form 3811,July 2013 Domestic A. Si gnat re ■ Complete items 1,2,and 3.Also complete 9 ,� item 4 if Restricted Delivery is desired. X >) , f 1 7 (y f, O Agent • Print your name and address on the reverse /L't- `__.!��'�-,`,.. I O Addressee so that we can return the card to you. B. Recei rin�ce(Name) C. Date of Delivery • Attach this card to the back of the mailpiece, 'T 1 ' 7-Z_($ or on the front if space permits. 1 D. Is delivery address different from item 1? 0 Yes 1. Article Addressed to: If YES,enter delivery address below: O No vs\W0\- C. -I AI241.n.5L ( . sL t NO thitQ,V., aalkt1..Q.� 3. Service Type �yl--�,�o�� Certified Mail® 0 Priority Mail Express`" M JJ Registered O Return Receipt for Merchandise O Insured Mail O Collect on Delivery ',f I. i 1,_i H. t',,:', 4. Restricted Delivery?(Extra Fee) 0 Yes 2. Article Number 7,?,t); ..':.2:8:1,t) 0003 5709 0703 (Transfer from service la ,f,. PS Form 3811,July 2013 Domestic Return Receipt Hello