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Home My WebLink About20141949.tiffr RESOLUTION RE: APPROVE PETITION FOR ABATEMENT OR REFUND OF TAXES - AMERICAN FURNITURE WAREHOUSE, CIO THE E COMPANY, INC. 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 30th day of June, 2014, at which meeting there were present the following members: Chair Douglas Rademacher, and Commissioners Sean P. Conway, Mike Freeman, and Barbara Kirkmeyer, with Commissioner William F. Garcia being excused, 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, and taxpayer, American Furniture Warehouse, c/o The E Company, Inc., not being] present, 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, approved, and an abatement or refund be allowed as follows: CORRECTION TO ASSESSED ABATEMENT TAX VALUATION OR REFUND YEAR $7,068,750.00 $122,780.13 2013 et: A5K.N,DK3 7' 25- 2014-1949 AS0087 TAX ABATEMENT PETITION -AMERICAN FURNITURE WAREHOUSE, C/O THE E COMPANY, INC. PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 30th day of June, A.D., 2014. BOARD OF COUNTY COMMISSIONERS ELD COUNTY, COLORADO r ATTEST:L1 (1 , ,,/ ' / (q�j 2 si hvt CC// � K DouglassRademache , Chair Weld County Clerk to the Board ®4_ rbara Kirkmeyer, Pro-Tem / BY: —►� ►.1_i I Ir .�� .a' D- .t y Clerk to the Bo.t n P. Conway A ED ORM: � I + ti Mike Freeman ounty Attorney EXCUSED William F. Garcia Date of signature: 1 4 2014-1949 AS0087 PETITION FOR ABATEMENT OR REFUND OF TAXES (� ie/'�� .x`91 'oo7 • County:WELD Date Received 020// '�`•' / • / n r� ' (Use Aa+?ecsor • Section I: Petitioner,please complete Section 1 only.• i •-21 9 Date: I c2&' )C 1'-I Z0I4 JUL 30 Ai i10: FEB 0 5 2014 Month Day Year Petitioner's Name: AMERICAN FURNITURE WAREHOUSE WEI f) COON I ` ASSESSOR Petitioner's Mailing Address: C/O THE E COMPANY, INC. p O BOX 1750 GREELEY. COLORADO CASTLE ROCK CO 80104 City or Town State Zip Code SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY O R4490306 10550 JAKE JABS BLVD ASS 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 /El• 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.) 124.b kk .Tybj GW �7 Pct /i{7 y I I t__c m to m ? s 93 00 0 8 < Petitioners estimate of value: E )itO CGI. (;160(3) 'zZ -s" m aloe Year MI v I declare, under penalty of perjury in the second degree,that this petition,together with any accompanying exhibit or statements,has been prepared or examined by me,and to the best of my knowledge, information,and belief, is true, correct,and complete. Daytime Phone Number( ) Petitioner's 'gnat By Daytime Phone Number( ) Agent's Sigdahr PCCL.ulC1Rt_S 'Letter of agency must be ached 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 RECEIVED (For Assessor's Use Only) Tax Year /3 Anna, Assessed AUG 0 4 2014 Original .5riab/DD. nz you nt e'y� zg WELD COUNTY COMMISSIONERS corrected 2 39-.So°° 7 D6t, ?SO AbateRemna 4 /1f000 - I "3/63-4) - /Z1,-leo. /3 IXAssessor 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:21213 Protest? Fy No ❑Yes (if a proyst was filed,please attach a copy of the NOD.) 2014-1949 M.trke `srp-tif t'2 aef edt-Ffeyes) ❑Assessor recommends denial for the following reason(s): essor's puy is S- re 15-DPT-AR No.920-66/11 PETITION FOR ABATEMENT OR REFUND OF TAXE [ �� ••` 7 •� / • County:WELD Date Received c&/ � 611 ` tf•If or i-• (UseAsyessor Y9l • Section I: Petitioner,please complete Section 1 only. L i '``' -'I q Date: I c2 b Jett!1/i 20(4 JUL 30 Ari I0: 50 FEB 0 5 2014 Month Day Year Petitioner's Name: AMERICAN FURNITURE WAREHOUSE WVFI 1) (3UUN i `( /ASSESSOR Petitioner's Mailing Address: CIO THEE COMPANY, INC. • O BOX 1750 GRRELF.Y. COLORADO CASTLE ROCK CO 80104 City or Town State Zip Code it- SCHEDULE OR PARCEL NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY O R4490306 10550 JAKE JABS BLVD v�(` 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 I,-,,3 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.)/ 04 u- .� nLc AA, I.1,L7( -i c m r� � x), cov v�3j �` � .Oc ,...., m Petitioner's estimate of value: S I-97ico OGt ( YO13) Zz m slue Year rn-c ^ I declare, under penalty of perjury in the second degree,that this petition,together with any accompanying exhibit Y or statements, has been prepared or examined by me, and to the best of my knowledge, information,and belief, is true,correct,and complete. Daytime Phone Number( ) Petitioner's ' net By Daytime Phone Number( ) Agent's SigdaW *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 RECEIVED (For Assessor's Use Only) Tax Year VV/3 AMaal Assessed DA AUG 0 4 2014 Original zrih o bay 6,2fr? goo I'S?: en, z8 WELD COUNTY COMMISSIONERS corrected Z9 3742°L) 7 04f, +'s 7/5-117.13- AheceiReruna W l frli000 - I Ziad 651 - /Z2�4e49. /3 (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 2J3 Protest? EI No ❑Yes (If a p was flied,please attach a copy of the NOD.) ,�1 L L 2014-1949 ci ❑Assessor recommends denial for the following reason(s): airIessors • puty —.esso s re 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.S.shall be acted upon pursuant to the provisions of this section by the Board of County Cwnrtissioners'cr 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 Aohyl 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. Petitioners etdwner's Signature Date Assessors or Deputy Assessors Signature Date Section IV: Decision of the County Commissioners (Must be completed If Section Ill does not apply) WHEREAS,the County Commissioners of County,State of Colora ,at a duly and lawfully called regular meeting held on / / ,at which meeting there were pre t the following members: Month Day Year with notice of such meeting and an opportunity to be present having given to the Petitioner and the Assessor of said County and Assessor (being present—not present)and Name Petitioner (being ent—not present),and WHEREAS,the said Name County Commissioners have carefully considered the w' in petition,and are fully advised in relation thereto, NOW BE IT RESOLVED that the Board(agrees not agree)with the recommendation of the Assessor, and that the petition be(approved—approved i art—denied)with an abatement/refund as follows: /9_ Year Asked Value Taxes A Refund _C �J) �iy ,_^,�t, i)Chairperson�er of the Board of f County r• Commissioners'Signature 1, County Clerk and Ex-Officio Clerk of the Board of County Commissioners in and for the aforementio d county,do hereby certify that the above and foregoing order is truly copied from the record of the proceedi of the Board of County Commissioners. IN WITNESS EOF,I have hereunto set my hand and affixed the seal of said County this day of Month Year County Cleric's or Deputy County Clerk's Signature e: Abatements greater than$10,000 per schedule,per year,must be submitted in duplicate to the Properly Tax Administrator for review. Section V: Action of the Property Tax Administrator (For all abatements greater than$10,000) The action of the Bosnrd of County Commissioners, relative to this petition, is hereby Approved in part$ Deni for the following reason(s): \b, A13//T Secretary's Signature rty Tax in or re /Date 15-DP RN .920-66/11 w the company, inc. REAL ESTATE TAX SERVICES P O BOX 1750 CASTLE ROCK,CO 80104 720-351-3515 /FAX-720-344-3498 SECTION 4:AGENCY AUTHORIZATION FORM AUTHORIZATION TO APPEAR BEFORE THE WELD COUNTY ASSESSOR, CBOE, CBOCC AND THE COLORADO BOARD OF ASSESSMENT APPEALS AND ALL COLORADO STATE COURTS ON BEHALF OF THE OWNER OF RECORD OF REAL PROPERTY FOR VALUATION FOR , TAX YEAR 2013 /2014 AND ALL OTHER YEARS ALLOWED BY APPLICABLE COLORADO LAW. Persons who own, control, or possess property valued by the County Assessor may each year designate an agent to act on their behalf on any matter relating to the review of the valuation of the property before the Assessor and/or the County BOE/BOCC or Colorado Board of Assessment Appeals. • Further, the undersigned expressly revokes all previous authorizations relating to the Property and the subject matters referenced herein. This authorization shall remain in effect until this authorization is terminated in a written instrument executed by the undersigned. • The undersigned further authorize THE E COMPANY INC. to appear as a witness at all formal or informal hearings and to testify as to the valuation of the Property and to the accuracy of any factual documentation submitted on my behalf in connection with the Property. • Notices issued by the Assessor or Board of Equalization or Colorado Board of Assessment Appeals relating to the review of valuation of that property shall be sent to the agent of record at THEE COMPANY INC.P O BOX 1750 CASTLE ROCK. CO 80104 DESIGNAIION MADE BY:(TYDC or Print) AMERICAN FURNrlURR COMPANY NAME �<O tr 77.re n SIC / £,y PRINT NAME OF PERSON OWNING,CONTROLLING OR POSSESSING PROPERTY OR CONTACT PERSON TITLE I,THE UNDERSIGNED,HEREBY DESIGNATE THE ABOVE NAMED AGENT TO ACT ON MY BEHALF IN ALL MATTERS PERTAINING TO THE REVIEW AND APPEAL OF REAL AND/OR PERSONAL PROPERTY VALUATION AND CLASSIFICATION WITH THE ASSESSOR OR THE BOARDS OF EQUALIZATION OR THE COLORADO BOARD OF ASSESSMENT APPEALS.THIS AUTHORIZATION IS LIMITED TO THE PROPERTIES LISTED BELOW AND ON THE ATTACHED CONTINUATI FORM_(S J rsG`� a/yl/ ? Signature of Person Owning,Controlling,or Possessing Property Date ADDRESS: 1 GSSb A lv“"Sam., acteC *Minis O;-• Ogv •' �$CHEDULE NUMBER: R4490306 � 6c . STATE OFQ0\prMO ) ,g;?��G .�r COUNTYOFDr �� ;SS Qp0 ( j r �" f Sworn to and subscribed before me this 1 W/ day of rebt^u.Ary 2043 •�A7EOj� by Leer\ Titik . (� tartness my hand and official seal.My Commission expires o"'cI i .Notary Public:ski 4 0JW n 05/27/2014 Attn: Chris Woodruff RE: 2013 Abatement received 2/2014 R4490306/1313-11-2-06-001 American Furniture Warehouse Co 10550 Jake Jabs Blvd. Firestone, CO 2013 Assessors Value$28,560,000($56/sf) SUBJECT: The subject property is a Two Story Furniture Showroom/Storage Warehouse facility located in the Firestone City Center Business Center located on the east side of I-25, south side of HWY 119 in the city of Firestone. The subject is a 513,183 square foot Masonry showroom/warehouse including 45,000 square foot of second floor warehouse space and 86,160 square feet of second story showroom. The overall sidewall height is 35 feet and was built in 2006. The abatement was filed on behalf of the owner by the E company. The petitioner is requesting a value of$23,800,000 or$46 per sq. ft.. The petitioner provided no comparables. The subject's gross building area (GBA) has been one of the areas of the appeal. The Assessor's office had the GBA at 476,000 square feet with a 45,000 square foot mezzanine. After visiting the property the appraiser estimated the GBA to be 521,000 square feet. The area previously labeled mezzanine has heat, water, break rooms, shops, and offices, and should be valued as GBA. The owner supplied plans that indicate the total GM is 513,183 square feet. The appraiser re-analyzed plans and sampled measurements and concluded the 513,183 square feet is the correct building GBA. Cost Approach: The subjects land has 1,749,129 sq. ft. and is valued at $2 per sq.ft. for a total of$3,498,258. Marshal &Swifts estimate of replacement costs is$32,951,480 and depreciation is estimated at 8%, making the RCNID$30,315,362. This develops a cost approach value of$33,813,620 or$66/sf. Market Approach: Research revealed three sales similar to the subject during the extended data collection period of 07/01/2007-06/30/2012. A sale at 1101 W 48th Ave., Denver, has 353,092 square feet sold in May 2011 for$23,700,000 or$67 per square foot. A sale at 22100 E 26`h Ave., Aurora, has 406,959 square feet sold in Nov. 2011 for$24,500,000 or$60 per square foot. Another sale at 24210 E 19th Ave.,Aurora, has 357,850 square feet and sold in March 2009 for$19,265,671 or$54 per square foot. These sales support a Market Approach value of$60/sf is selected, equating to a value of$30,790,000. Income Approach: Two comparable leases where found. The first at 4001 Salazar Way, Frederick has 189,776 square feet and rents for$4.10 NNN per sq. ft.. A second comparable at 4185 Salazar Way, Frederick has 200,316 square feet rents for$5.00 NNN per sq. ft.. The Assessor's office research of vacancy in the Firestone City Center Business Center and similar business parks resulted in an estimated 10%vacancy for properties similar to the subject. Typical management and reserve are deducted as expenses. The Winter 2011/2012 Burbach & Associates Real Estate Investment Survey indicate the capitalization rate should be 9%. Using this data an Income Approach indicated value is estimated to be $18,878,400 or $37 / sf. Reconciliation and Summary: In reconciling the Cost, Market, Income Approach the Assessor recommends the value for 2013 be adjusted to $24,375,000 or $48 / sf. .-Y 1 }. ip '.. . .. .ti . I e1NLr r e ....e. 11 1111 ! u / �aR/ r91Vr, �' „ J� ' _1J' "w Al ' t • .4-A a.4! ' i " •. t! . _T._ _ _ass _ _ ice. �ri• - • - 750 0' 215.4' Showroom Area Second Floor 86160.0 sf Warehouse / high bay 98.5 O Open Below1 255000 0 sf O -4137.0 sf i A O Showroom Second Floor First Floor Shops, Breakroom & offices 86160.0 sf 45000 0 sf 750.0' Loading Docks /main level 45000.0 sf 750.0' I - CLERK TO THE BOARD PHONE: (970) 336-7215, EXT. 5226 X861 FAX: (970) 352-0242 1150 O STREET P.O. BOX 758 1'1 l v 1 GREELEY, COLORADO 80632 I �II 1 GOUNTY June 9, 2014 American Furniture Warehouse CIO The E Company, Inc. PO Box 1750 Castle Rock, CO 80104 RE: SCHEDULE NUMBER R4490306 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: 10550 Jake Jabs Blvd, Firestone, CO. The meeting is scheduled for June 30, 2014, 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 approve 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. Sincerely, Tkatadik. Rafaela A. Martinez Deputy Clerk to the Board cc: Assessor E Company, Inc. Hello