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Home My WebLink About20142343.tiff BOARD OF ASSESSMENT APPEALS STATE OF COLORADO Docket Number 64974 Single County Schedule Number R6275086 STIPULATION(As To Abatement/Refund for Tax Year 2014) Copart Inc., RECEIVED Petitioner(s), .IAN 2 1 vs. WELD COUNTY COMMISSIONERS Weld COUNTY BOARD OF EQUALIZATION, Respondent. Petitioner(s)and Respondent hereby enter into this Stipulation regarding the tax year 2014 valuation of the subject property, and jointly move the Board of Assessment Appeals to enter its order based on this Stipulation. Petitioner(s)and Respondent agree and stipulate as follows: 1. The property subject to this Stipulation is described as: 1281 CR 27, Weld County 2. The subject property is classified as commercial property (what type). 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2014: Land $1,491,930.00 Improvements $936,000.00 Total $2,427,930.00 4. After a timely appeal to the Board of Equalization,the Board of Equalization valued the subject property as follows: Land $1,491,930.00 Improvements $736,000.00 Total $2,227,930.00 5. After further review and negotiation,Petitioner(s) and County Board of Equalization agree to the following tax year 2014 actual value for the subject property: R6275086 CAn1 muAuCaix ono 1-28-15- CCt AsR Mo:babe) Vz8 ,20141--23113 Land $1,491,930.00 Improvements $508,070.00 Total $2,000,000.00 6. The valuation, as established above, shall be binding only with respect to tax year 2014. 7. Brief narrative as to why the reduction was made: After further review of depreciation schedules an adjustment was deemed approperate. 8. Both parties agree that the hearing scheduled before the Board of Assessment Appeals on March 2, 2015 (date)at 8:30 AM(time) be vacated; or, a hearing has not yet been scheduled .-fore the Board of Assessment Appeals (check if appropriate). AT ri thi' iri&' . . ,a 2015 Pe ioner(s) gent o` 'rney (Assistant) County Attorney for Respondent, Weld County Board of Equalization Address: Address: 1150 "O" Street P.O. Box 758 Greeley, CO 80632 Telephone: h :(970) 336-7235 } id o County Ass ssor Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 353-3845 ext. 3697 Docket Number Stip-1.Frm R6275086 2 BOARD OF ASSESSMENT APPEALS STATE OF COLORADO NOTICE OF HEARING SCHEDULE NO. R6275086 DOCKET NO. 64974 Petitioner (s): Tax Year(s): 2014 COPART INC. RECEIVED V. Respondent: DEC 0 3 2014 WELD COUNTY BOARD OF EQUALIZATION WELD COUNTY - COMMISSIONERS The Board of Assessment Appeals will hear the above-captioned matter: Date: March 2, 2015 Time: 8:30 AM Mountain Time on a trailing docket Location: 1313 Sherman Street Room 315, 3rd Floor Denver, CO 80203 Time Allocated: 1.5 hour(s) per side PLEASE TAKE NOTICE: The Board of Assessment Appeals uses a one-day modified trailing docket. Several cases are scheduled for hearing at 8:30 am each day. Cases are heard in the order determined by the Board,with the first case commencing at 8:30 am. At the completion of the first case on the docket, the Board hears the second case on the docket. The Board proceeds through the docket in this manner until all cases have been heard or until insufficient time remains to fully hear the remaining cases on the docket. Cases not heard will be continued to another day. You are required to appear for your hearing at 8:30 am on the date noted above and remain until your case is heard or continued, unless the Board removes your case from the trailing docket and schedules your case for a specific time later in the day. A list of cases removed from the trailing docket will be available at least one week prior to the hearing date, If your case is removed from the trailing docket, you are required to appear at the specific time scheduled by the Board. Please check the Hearing Schedule on the Board's web page(www.dola.state.co.us/baa/index.htm)or call (303)864-7711 within one week prior to your hearing date to determine if your hearing has been scheduled for a specific time on the hearing date. If the Petitioner is a closely held entity as defined in CRS 13-1-127,the Petitioner must be represented by either an attorney licensed in Colorado or an officer of the entity. If the Petitioner is a domestic or foreign entity that is not closely held, as defined in CRS 7-90-102, an attorney licensed In Colorado must represent the entity in all legal proceedings before the Board. Pursuant to Board Rule 11, documentary evidence and witness lists must be received by the Board and the opposing party no later than February 16,2015. If this date falls on a State Holiday, the documentary evidence and witness lists are due the following working day. Petitioner's Representative of Record: Mailed: November 26, 2014 STEVENS &ASSOCIATES INC TODD J. STEVENS 9635 MAROON CIRCLE, SUITE 450 ENGLEWOOD, CO 80112 &minununixon.o £014 - 23'/3 l2-s 2oi� Cc hsie dpla. ycda,e) �2/2 1 As COVE 1861 CLERK TO THE BOARD PHONE (970) 336-7215, EXT 4226 FAX 352-0242 x TE WEBSITE: www.co..co.weld.co.us 1150 O STREET P.O. BOX 758 COUNTY GREELEY CO 80632 July 31, 2014 COPART INC C/O TAX DEPT 14185 DALLAS PARKWAY SUITE 300 DALLAS, TX 75254 RE: THE BOARD OF EQUALIZATION 2014, WELD COUNTY, COLORADO DENIAL OF PETITIONER'S APPEAL AND AFFIRMATION OF ASSESSOR'S VALUE ACCOUNT NO.: R6275086 Dear Petitioner On July 29, 2014, 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 your petition for appeal of the Weld County Assessor's valuation of your property described above, for the year 2014. The Board of Equalization found that the evidence presented at the hearing supported the value placed upon the above-described property as set forth below. Such evidence indicated the value was reasonable, equitable, and derived according to the methodologies, percentages, figures and formulas dictated by law. This decision is based upon the Board's analysis of the written and oral testimony presented by both parties. Further that it is the Board's decision that the taxpayer/did not present sufficient evidence to show that the value of the property was not reasonably valued by the Assessor. The Assessment and valuation of the Weld County Assessor was affirmed as follows: ACTUAL VALUE AS ACTUAL VALUE AS DETERMINED BY ASSESSOR SET BY BOARD $2,427,930.00 $2,200,000.00 2014-2343 AS0088 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, 2014, MUST comply with the following provisions of C.R.S. Section 39-8-107(5): (5)(a)(I) On and after August 10, 2014, 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 2O14-2343 AS0088 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: 303-866-5880 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 39-8-1080), 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 2014-2343 AS0088 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 contact me at (970) 336-7215, Ext 4226. Very y truly yours, ,,/ �/-d s1J aLge6 '. Esther E. Gesick, Clerk to the Board Weld County Board of County Commissioners Cc: Christopher Woodruff, Weld County Assessor STEVENS &ASSOCIATES COST REDUCTION SPEC 9635 MAROON CIRCLE SUITE 450 ENGLEWOOD, CO 80112-5902 2014-2343 AS0088 Weld County CHRISTOPHER M. WOODRUFF COUNTY ASSESSOR BRENDA DONES,DEPUTY ASSESSOF VALUATION REPORT OF COMMERCIAL PROPERTY FOR Weld County Board of Equalization COPART INC PETITIONER vs. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 1471-30-0-00-012 Schedule Number: R6275086 Log Number: 7956 Date: 7/29/2014 Time: 03:30 PM Board: CBOE PREPARED BY WADE MELIES WELD COUNTY ASSESSOR'S OFFICE STAFF APPRAISER ASSESSOR'S VALUE COMMERCIAL $2,427,930 2014-2343 CBOE Page I SALIENT FACTS AND CONCLUSIONS Purpose of Appraisal To determine Market Value as of 1/1/14 based on an appraisal date of 6/30/12. Property Rights Appraised Unencumbered fee simple interest. Location 1281 27 CR WELD Land Area 1,491,930 Square Feet, 34.25 Acres Property Type Commercial Service Garage Office Building Year Built 1980 Year Remodeled 2006 Quality Average Class Metal Frame Number of Stories 1 Improvement Sq. Ft. 16,800 Value Indications: Cost Approach N/A Market Approach $2,425,200 Income Approach $2,603,404 Reconciled $2,427,930 CBOE Page 2 Office and Service Garage r fir . . - 07/11 /2013 A lilmg '�- �. iD 0' ,a once orke era I rims an S 1: F Dice Ostrom St"Arta �0osF ate 60JOSE F b Saxe Hams b Remodeled b $ $ HVAC cit. 8 `� NM 16' one Clau S Y0C 1980 Mks , IUR Flr—aro 8017 1200' First Fleola 0 S F BM h huh" CBOE Page 3 Building Two Service Garage II lib • � • r � 3 rs Q.O. Fist Poor 7kW F YOC Estimated 1980 WH t6 Class S Pedant Heat o b 93C• aaab er pn ry Fenced Lot Eet �Tn?t M 7. 74k Art _� — r'Sarf' I 07'11 !2013 • - '� ;► CBOE Page 4 Arial Photo j i 1 i 1?f ‘ tin.r. ) a .. . i } } _ i' _ et b sum ds.wYf lusts I - j yen 1 rat jil -_ . _ ____-__-_-__ r-- . . / r .,. . i .4 - 1, V estas llUL = • • • miss • / `riff aille 1., K &iti. _ ,. - 4 41 . : , - ) rii i ,: , _ t • 08• . . . f_ 4 C- a i r '., r. � = O1 S t S- 4 it .'� _ '�' + - :w•- ..-� I.:_ .....{;;.�: 4.•..A... _ � Tr r �� 103• 02, I 103, rr 49 : •.. :016 � (�10S 104en ' -- _ _.. i �� 0A , � • •.Vp umar.44i1Lto9;N._104:48"42 F Q walk soot:A Zoos Is Act+e ta'ir: Parcel CBOE Page 5 Description The subject property is used as an auto storage yard for wrecked vehicles waiting to be auctioned off. The majority of the auctioning is done online. The entire parcel, along with 2 adjacent parcels, is securely fenced with metal posts and metal panels 6 feet tall to minimize visibility of the wrecked vehicles. There is limited access to these lots. There is a smaller fenced area for loading and unloading vehicles. Building one is used as an office and service garage. Building two is used as a service and storage garage. The property was visited in July of 2013 by the Appraiser as a result of a 2013 appeal. CBOE Page 6 COST APPROACH SUMMARY The cost approach was considered but not completed. The subject property was built in 1980 and remodeled in 2006. The buildings have been maintained and are in average condition. For buildings more than 15 years old it is difficult to accurately determine the amount of physical deprecation that should be applied to the Cost Approach to value. For this reason the Cost Approach was not provided for this analysis. CBOE Page 7 LAND VALUE Sales utilized to establish the value in the subject neighborhood are from 2011 and the first six months of the 2012 market for the 2014 assessment date. The comparative sales approach is the most reliable method of land valuation. Pursuant to 39-104-(10.2) (c) C. R. S., the Assessor may utilize sales from July 2007 through June 2012 to establish the proper value, if sufficient information is not available in the prior 18 months. Also, comparables outside the subject property area may be used. The Weld County Assessor has an established ongoing sales confirmation and validation program for property transactions used in developing value. To determine the amount of excess land the subject property has, three comparables were found near the subject. The first comparable is a sale and the others are newly constructed. R6275486 Sold 10/12/10 23 to 1 ratio R6780769 Built 2012 10 to 1 ratio R6780770 Built 2012 17 to 1 ratio For this report a 17 to 1 land to building ratio will be used as the land to support the improvements or 280,000 square feet. The remaining 27.8 acres land will be considered excess land. Comparable commercial land sales range from $30,445 to $74,070 per acre. A value of $54,000 per acre was chosen to be applicable for the subject property excess land. Parcel Number Sale Date Sale Price Land Size Per Acre Comparable 1 147120200010 12/31/10 $2,039,800 67 $30,445 Comparable 2 130736001017 6/4/10 $3,200,000 43.2 $74,070 Comparable 3 147120000021 12/17/08 $2,839,500 65 $40,000 ASSESSOR'S SUBJECT EXCESS LAND VALUE $1,501,200 CBOE Page 8 _ .tr } Wey I - ^f.I I II ttri IAir a--_ r• p: I a-Y COMPARABLE SALE 1 COUNTY: WELD ACCOUNT NUMBER: R6239686 PARCEL NUMBER: 147119000078 PRIMARY OCC: Indust Lght Manufacturing PERCENT: 100.0% SECONDARY OCC: Office Building PERCENT: 100.0% THIRD OCC: Light Commercial Utility PERCENT: 100.0% ADDRESS: 12672 6.25 CR WELD RECEPT NUMBER: 3751416 SALE DATE: 2/17/2011 GRANTOR: CARR FAMILY LLC SALE PRICE: $ 1 .300,000 GRANTEE: WINCHESTER CI [ARLES E ADJ SALE PRICE: $ 1 ,300,000 YEAR BUILT: 1976. 1981 , 1997, 2001 CLASS: S EFFECTIVE AGE: 34 to 9 LAND/BLDG RATIO: 31 .9167 LAND SIZE (SF): 653,400 LAND VALUE: $300,000 BLDG SIZE (SF): 20.472 for 4 bldgs IMPS PRICE/SF: $48.84 WALL HEIGHT: 16 SALE PRICE/SF: $63.50 STORIES: 1 .00 QUALITY: Average COMMENTS: Purchase price was for real property only. Price was based on mutual agreement. Property consists of 4 buildings, an Office building, 2 light Industrail buildings and a light commercial building. The property does have Highway 85 visibility. CBOE Page 9 flog 160 YF�STORAuF AREA ]IOLad A10PI WAREMC515E AREA "0 0' %4000 10360 -00 1119 16'Nil WI 52e 45 C 'B r n Z _ .• . a0 CFRCE AREA 'a0 SOS Ost Ipl 0 C0nCRETE PARAY/G AREA In30Y 600 01 /17/2012 1480 COMPARABLE SALE 2 COUNTY: WELD ACCOUNT NUMBER: R5267286 PARCEL NUMBER: 130929000035 PRIMARY OCC: Indust Lght Manufacturing PERCENT: 80.0% SECONDARY OCC: Office Building PERCENT: 20.0% ADDRESS: 13025 85 HWY WELD RECEPT NUMBER: 3806169 SALE DATE: 11 /10/2011 GRANTOR: I-IOAD INC SALE PRICE: $775.000 GRANTEE: GEN III ENTERPRISES LLC ADJ SALE PRICE: $775,000 YEAR BUILT: 1965 CLASS: S EFFECTIVE AGE: 20 LAND/BLDG RATIO: 10.7197 LAND SIZE (SF): 148. 104 LAND VALUE: $148, 104 BLDG SIZE (SF): 13.816 IMPS PRICE/SF: $45.37 WALL HEIGHT: 16 SALE PRICE/SF: $56.09 STORIES: 1 .00 QUALITY: Average COMMENTS : Buyer and seller are in the oil business . Seller had vacated property to new facilities approximately year prior to sale . Seller had three interested parties , buyer agreed to sellers price , no appraisal , and was a cash transaction . CBOE Page 10 80.04 s _ ._ - . _. _ 2000 Addition 8000 0 of 100.0' -�T 80.0' Total sq ft 17600 20.0' industnal Ur Kanutaclump YOC 1999 Class S coray-vac heat m ch walls �.� N• 8'sandwich..i Insulated , Gravel Parking 120.0' 0 120.0 II. , '' 9600.0 sf 46O . . ; . ... . I 100 Me o.. 7D P46400- q *. .6 44----r = 02 //26/2010 '--...._- p 1011 M'p.rwes '00 COMPARABLE SALE 3 COUNTY: WELD ACCOUNT NUMBER: R3470305 PARCEL NUMBER: 130920200057 PRIMARY OCC: Industrial Light Manufacturing PERCENT: 100% ADDRESS: 13066 20 CR WELD RECEPT NUMBER: 3669034 SALE DATE: 1/7/2010 GRANTOR: WALKER KRISTI SALE PRICE: $800,000 GRANTEE: ESPINOZA DON L & ESPINOZA JOANN R ADJ SALE PRICE: $800.000 YEAR BUILT: 1999 CLASS: S EFFECTIVE AGE: 2000 LAND/BLDG RATIO: 15.84 LAND SIZE (SF): 278,784 LAND VALUE: $ 105.938 BLDG SIZE (SF): 17.600 IMPS PRICE/SF: $39.43 WALL HEIGHT: 16 SALE PRICE/SF: $45.45 STORIES: I INTEREST RATE: QUALITY: Average COMMENTS: Confirmed with buyer an appraisal was done. Subject has good visibility from Highway 85. CBOE Page 1 1 1E17, --""Sales Corn i arable Ma ArtL.-•: , . .1 ...I . ;ZS \ ---• t ittfro • i _ . Ft(,,t :u]. _•R8�` ?. �"_ �� },fit •r , . z— �'_"d II•171 If�,. yF Y �/' • �' 1 c r 4l Y 1•.'}- {��l-, r ILI* 1 ' _ .'i ♦1• !.V s. .tit , 1 . I _��.' •� �_ J f:} _ tat'~.'r . :... . ;♦ • ��. ><M1 �f— i ♦ _ _ems _I r., ,,a.et , ... .._. , • 2 .„ , ,_ —� i *, y tJ' tat " I ,� ' ' �' -.,-• -'" Anstacrat f anche ;� Comp2 t o u' .4. * a' -r ..S I. 1 , .; ' ) -•^�•to _ a .- I C.� -4•• y 1 _• ' • •v 1-71 �r � _Syr - I/ I �1�. t , -dPr TI It 1. �s�...' , �. fete ♦• illir 4 ?:.irc • ; I — '. .l L4 It {� �. +► — : r - c ' . . _- f r - c' �. i/ 1 -__ 1.+ I. i . gat o Fort Lu• pton .ts I- f DP'. ' t •, 1` tit 'tl �' i ' r - � •4'�d . • + lst;St 1 r <.. , r ♦ 1 . � wyi+rpy .. • 111 a £t. all- - tip. !1- 1:j: f . i i 1111' •. . P.IQ - ) - •r 4 (....- liir. • >t.�ss.I -•.`. >�.• 11 , -4,_ . SIC'" . at ., ' ':1 I1r ` i I .r . { • 01 .- *tilt ., �fy_ .t.aeo - pi, - - -- -a .L.+ f • all • .... , ,,, - . f i r-Ai �Y ,Y₹i e A • • ' c Y— kl iii ce 'r � • .�'zd? 'I aa� J 1 1� it '� " r f 1 - / 1 y I S 1 ' Yom, Y f s - - ^�. attenberg !'alligg I' '55 Subject 'y Comp 1 ' f .„ r c.A air , 1 .. . 4,_. ,. , a ., a. Oil ...map- ;.15fLc t•`q I •A a J•1• . - .. _i 1i ' -• . 't'. .,� •�=�_ e ,10/6/2013 it 40"05gQ9 .4 N 10445'57 21 " W elev 5037 ft il CBOE Page 12 MARKET APPROACH SUMMARY Real property for the tax year 2014 must be valued utilizing the level of value for the period of one and one-half years immediately prior to June 30th, 2012. A period of five years immediately prior to July 1, 2012 shall be utilized to determine the level of value if adequate data is not available from such one and one-half year period to adequately determine the level of value for a class of property. Said level of value shall be adjusted to the final day of the data-gathering period. Changes occurring between base years are not to be accounted for until the following level of value is implemented, other than additions, change in use, detrimental acts of nature, damage due to fire, etc., creation of a condominium, new regulations restricting or increasing the use of the land, or a combination thereof{39-1-104(11)(b)(1), CRS}. The comparable sales in this report were selected using county records, as well as 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. The three comparable sales range from $45.45 to $63.50 per square foot. Based upon investigation and analysis, it is the opinion of the appraisers that the value of$55 per square foot accurately reflects the market value of the subject property. VALUE As INDICATED BY THE MARKET APPROACH $55 * 16,800 = $ 924,000 Excess Land $1,501,200 Equals $2,425,200 CBOE Page 13 INCOME APPROACH SUMMARY The Weld County Assessor has appropriately considered the Income Approach to value for the Subject property on appeal. The Assessor has gathered income information from local commercial properties for the time frame of January 1, 2011 through June 30, 2012. This information, combined with statewide and industry-wide data, is used to determine typical income and expenses for various property types. In conclusion of the Income Approach, the Assessor has considered both groups of data and has put more emphasis on the local factors and data than the state and national data. This information was then applied to the subject property to arrive at an appropriate Income Approach Value. TOTAL INCOME VALUE FOR THE SUBJECT PROPERTY $2,602,251 Lease Comparables Size Land to Bldg Rate Owner Tenant 1392 Denver Ave., Ft Lupton 10,770 s.f.27 to 1 ratio $11.14 mod gross N&J NAKAMOTO LLC Ready Services 12739 CR4, Brighton 3,710 s.f. 20 to 1 ratio $40.43 mod gross FOSTER PROPERTIES J-W Energy 1812 CR 27,Brighton 5,500 s.f. 45 to 1 ratio $7.64 mod gross RAILROAD VENTURE Haliburton 12750 CR 4,Brighton 18502 s.f. 40 to 1 ratio $32.43 mod gross TRI-COUNTY REAL ES Baker Hughes The Subject 1281 CR 27, Brighton 16,800 s.f.89 to 1 ratio $20 mod gross Potential Income 16,800 $20 $336,000 Vacancy 5% $16,800 Effecive Gross Income $319,200 Expences Management 5% $15,960 Reservse 3% $9,576 Total $25,536 Net Operating Income $293,664 Effective Cap Rate 11.28% Indicated Value $2,603,404 Mrkt Cap Mill Levy Assmt Eff Cap 9% 0.078793 29% 11.28% CBOE Page I4 1 Lease Comparable Ma • _ _ ~ 1Ti1iC1lMV zrrismin m Itlith 1 il owe Sti 41, i a ;t _ . - 60 C o R d 1 4 1 2' . >., X 1 - r-, , r I rr� ♦�''. I f Fv.{.r to f- F !• �-- _ �1;=-�. , -r - - ftililt . �.. i ti =T 44 r c f. 1.1S y ♦ , r 1 f . upt0t 1 ' ,r �•I i 4 ii fi r1-. - A' - . _ _ _ . _ . ... - -- 1�s Po, . .rte. _ tt . - - �4 1 1 it r • E4 1 1,--";,:i --o. - , rte.1py 1 4 • h 114:" f. • _ • ! OR R 3 ' ti• — • _ • et in -- al i a ••IS ka ar A. .416 li Si it J , , ri I Z. • • ,,,,,t,: _ets,,, ,i_i_l_ai _ ,.. �. s ! 1, . / itia ) . . if I I •- .. 4 r 85 4 4` r, PI" f - f • r. -r '-- ' sr- v1 Lease 3 r #?e le 23 i It .../..1..E. v kit'. ' rP- 4 r- i • r�F �. . • $ ; 5 ` a , Wittenberg ri • - I `~' x . Lease 2 , :4 • Subject do 4 _Ai _ ... t rel. TT ` ' ' I I - ` lice, .r T Lease 4 , I- :4 4 - hi r.!' : 1 'fny� 31 - 2 -' f y. 4, ti t l ' .t X41 - J � 1j". 41\ y 40. 02'59. 12 ' N 104 -47'57 06" Wi elev 4956 ft 4 CBOE Page 15 CONCLUSION Real property for the tax year 2014 must be valued utilizing the level of value for the period of one and one-half years immediately prior to June 30th, 2012. A period of five years immediately prior to July 1, 2012 shall be utilized to determine the level of value if adequate data is not available from such one and one-half year period to adequately determine the level of value for a class of property. Said level of value shall be adjusted to the final day of the data-gathering period. Changes occurring between base years are not to be accounted for until the following level of value is implemented, other than additions, change in use, detrimental acts of nature, damage due to fire, etc., creation of a condominium, new regulations restricting or increasing the use of the land, or a combination thereof{39-1-104(11)(b)(1), CRS}. The subject property has been classified as Commercial Property for assessment purposes. Commercial property value shall be determined by appropriate consideration of the Cost Approach, Market Approach, and Income Approach to value. {39-1-103(5)(a) C. R.S.} The Assessor has considered all three approaches to value for the subject parcel on appeal. FINAL RECONCILIATION After consideration of the cost, market and income approaches, it is the Weld County Assessor's opinion that the value of$2,427,930 , most accurately reflects the value of the subject property in Weld County for the 2014 tax year. COST APPROACH MARKET APPROACH INCOME APPROACH N/A $2,425,200 $2,603,404 ASSESSOR'S VALUE COMMERCIAL $2,427,930 CBOE Page 16 APPRAISAL STANDARDS AND ETHICS CERTIFICATION I certify to the best of my knowledge and belief that: The statements of fact contained in this report are true and correct. The reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions and is my personal unbiased professional analyses, opinions and conclusions. I have no present or prospective interest in the property that is the subject of this report, and I have no personal interest or bias with respect to the parties involved. My compensation is not contingent on an action or event resulting from the opinion or conclusions in, or the use of, this report. My analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. No one provided significant professional assistance to the person signing this report. I have made a personal inspection of the property that is the subject of this report. I/a 724 Wade J.Melies Colorado Certified General Appraiser CG40036400 CBOE Page 17 • NOTICE OF DETERMINATION RECriVED Christopher M. Woodruff Date of Notice: 6/27/2014 Weld County Assessor JUL 16 2014 Telephone: (970) 353-3845 1400 N 17th Ave Fax: (970) 304-6433 Greeley, CO 80631 WELD COUNTY AS • Office Hours: 8:00 AM - 5:00 PM G EY, Ot3L t.!L DESCRIPTION/PHYSICAL LOCATION ACCOUNT NO. TAX YEAR TAX AREA R6275086 2014 3331 15996 NE4SE4 30 1 66 EXC BEG AT E4 COR SEC 30 S669'WLY 245'TO PT 1078'E OF W LN NE4SE4 re COPART INC N663' E245'TO BEG (3.75A LESS 1.08A R) (1 R1 RR) C/O TAX DEPT 1281 27 CR WELD, CO CIE14185 DALLAS PARKWAY SUITE 300 DALLAS,TX 75254 O CC ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW COMMERCIAL 2,427,930 2,427,930 TOTAL $2,427,930 $2,427,930 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: CM01 - The Colorado Constitution requires commercial property to be valued based on actual value and assessed at 29%. Replacement cost, market, and income are approaches used to determine the actual value of your property. 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. RECEIVED STEVENS & ASSOCIATES COST REDUCTION SPEC JUL 1 7 231k 9635 MAROON CIRCLE SUITE 450 15-DPT-AR ENGLEWOOD, CO 801125902 WELD COUNTY PR 207-08/13 COMMISSIONERS R6275086 19584 a. APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 1400 N 17 AVE. To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail or deliver a copy of both sides of this form to: Weld County Board of Equalization 1150 O Street, P.O. Box 758 Greeley, CO 80631 Telephone: (970) 356-4000 ext, 4225 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 12, § 39-2-125(1)(e), C.R.S. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals District Court 1313 Sherman Street, Room 315 Contact the District Court in the County Denver, CO 80203 where the property is located. See your (303) 866-5880 local telephone book for the address and www.dola.colorado.qov/baa telephone number. Binding Arbitration For a list of arbitrators, contact the County Commissioners at the address listed for the County Board of Equalization. If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on the next business day, § 39-1-120(3), C.R.S. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2012? (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.) $ S & A Value $1,500,000 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.) to value or aspects to the property in question. I ATTESTATION I, the undersigned owner o ' •f the property identified above, affirm that the statements contained herein and on any attachmteilts ~-re tr = and complete. //// �/ rl4 d 7-13-14 Signature TelephonPlimqber718 8 Date toddastevensandassoc.com Email Address I Attach letter of authorization signed by property owner. 15-DPT-AR PR 207-08/13 R6275086 19584 0© Stevens & Associates RIN Specialists in:Property Tax Reductions RECEIVED JUL 166 2014 July 15, 2014 WELD LD l CCV .,"cc!L.on Weld County Board of Equalization RECEIVED 1400 N 17th Ave Greeley, CO 80631 JUL 1 7 2014 WELD COUNTY COMMISSIONERS Dear County Board: Please find enclosed our 2014 Real Property Tax Appeals for the following properties. Meeker Commons Mha Ltd 903 6th Street R8848600 96105304026 Medical Systems Denver Inc 7600 Johnson Dr R6884497 131326202001 CopartInc 1281 27 CR R6275086 147130000012 If you should have any questions regarding these appeals, please feel free to call our office. Sincerely, Todd J. Stevens President Stevens &Associates Cost Reduction Specialists,Inc. 9635 Maroon Circle,Suite 450,Englewood,Colorado 80112 (303) 347-1878 •fax(303)347-9242 .. Property Tax Consultant-Agency Agreement Owner Address: 14185 Dallas Pkwy, Suite 300,Dallas,TX 75254 Property Address/Legal Description/Schedule#:See Attached exhibit A Consultant/Agent: Stevens&Associates Cost Reduction Specialists, Inc. I/We Copart Inc,subsidiaries,parent companies and all affiliated companies agree with Stevens&Associates Cost Reduction Specialists, Inc. that for the property tax assessment years 2014,2015 and prior years,in Colorado as the property referred to above,that Stevens&Associates Cost Reduction Specialists, Inc. is hereby engaged and authorized to act as agent and consultant before either the Board of review as well as the State Tax Review Board or for any hearing pertinent to the property for the property tax assessment years 2014,2015 and prior years. Please direct all correspondence and refunds to Stevens&Associates Cost Reduction Specialists,Inc. The undersigned further authorizes Stevens&Associates Cost Reduction Specialists, Inc.as agent of the undersigned,in the name of the undersigned,to execute and cause to be filed on behalf of the undersigned.in the name of the undersigned, any and all documents relating to an appeal of the said assessments,for the assessment years in question and prior years,before either the Board of review as well as the State Tax Review Board or any hearings pertinent to the property. � e Thus done and executed on this �J{ day of \Y' 2014. Agreed By. Copart Inc By: Title: Oft) STATE OF T- 0.S The kite-going instrument was acknowte�ged before me} This day of igpt4A .W l Please Direct all correspondence/refunds to: By: V.1n t Stevens&Associates/Inc. (Print n e here) 9635 Maroon Cir,Suite 450 Witness my hand and official seal. Englewood,Colorado 80112 my commission expires: L}{,/4t, Nolery Public kd 1� "" IIRISTI ROGERS Notary Pudic,State 01 Texas f MyCommlitlon Expires AprIl 24.2017 Exhibit A Coped Inc 6484 Downing St Adams County Parcel/Account# 0182502308043/R0134298 Copan Inc 1281 27 CR Weld County Parcel/Account# 147130000012/R6275086 f r< Ma IIIINamamMEI r-1 Q' aa rU .�, m w ,n CO. . I". mamma OrIn CD > �QWo—O ` _o(D w � Z r` Q (l1ru �l-�JQ �7 0 r 0 J OO ll Uw V -., p - a w2 • i �a alas HR O o co N TOr� o O _ C - Q, 0 - - .- al — cn � N N — r"� r' _ o o stems 06 2 E ea Qo lamas w co O M = c2 � 00 > 0 = 'n CD Q CO ci� aw = N. V Uz a) _ z o o . ,.., —. CLERK TO THE BOARD 1861 PHONE (970) 336-7215, EXT 4226 FAX (970) 352-0242 MOM 1l ` WEBSITE: www.co.weld.co.us 1150 O STREET P.O. BOX 758 GREELEY CO 80632 COUNTY July 22, 2014 COPART INC CIO TAX DEPT 14185 DALLAS PARKWAY SUITE 300 DALLAS, TX 75254 Account No.: R6275086 Dear Petitioner(s): The Weld County Board of Equalization has set a date of July 29, 2014, at or about the hour of 3:30 PM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Administration Building, Assembly Room, 1150 0 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, 2014, and mailed to you on or before August 12, 2014. 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. AS0088 COPART INC - R6275086 Page 2 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 STEVENS &ASSOCIATES COST REDUCTION SPEC 9635 MAROON CIRCLE SUITE 450 ENGLEWOOD, CO 80112-5902 AS0088 4 LIMITED SUMMARY CONSULTING ASSIGNMENT OF Copart Inc Auto Service 1281 27 CR Brighton, Colorado Weld County PREPARED BY Stevens & Associates/Inc. DATE OF VALUE JANUARY 1, 2013 and 2014 BASE PERIOD ENDING JUNE 30, 2012 DATE OF REPORT JULY 26, 2014 I 16t- 1+ .. 4- 4 SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS Property Location: 1281 27 CR Brighton, Colorado Schedule # R6275086 Parcel # 147130000012 Land Size: 1,491,930 square feet or 34.250 acres Improvement Size: 16,800 square feet YOC 1980 Highest And Best Use: For ad valorem tax purposes in Colorado the highest and best use of the subject is its current use. Cost Approach $1 ,647,371 Market Approach N/A Income Approach N/A Reconciliation $1,600,000 Date of Value: January 1, 2013 and 2014 t 4- • CALCULATOR COST FORM MARSHALL&SWIFT COST VALUATION MANUAL SCHEDULE NO. R6275086 PARCEL NO. 147130000012 APPRAISER TODD STEVENS ' DATE 1. LEGAL 2. BLDG. NAME OWNER NAME CopartInc 3. BLDG.ADDRESS 1281 27 CR 4. OCCUPANCY Service(Repair)Garages-528 5. BUILDING CLASS C BUILDING QUALITY AVERAGE 6. EXTERIOR WALL 7. NO.OF STORIES 8. AVERAGE FLOOR AREA 16,800 9. AVERAGE PERIMETER 10.EFFECTIVE AGE 32 YOC 1980 2012 CONDITION LIFE 35 11. BASE SQUARE FOOT COST $49.89 12. HEATING,COOLING,VENTILATION 13. ELEVATOR DEDUCTION 14.MISC., SPRINKLER $3.13 15.TOTAL LINES 11 THROUGH 14 $53.02 HEIGHT&SIZE REFINEMENTS 16. NUMBER OF STORIES-MULTIPLIER 1.000 17. HEIGHT PER STORY- MULTIPLIER 1.000 18. FLOOR AREA-PERIMETER MULTIPLIER 1.000 I 19.COMBINED MULTIPLIERS 1.000 FINAL CALCULATIONS 20. REFINED SQUARE FOOT COST $53.02 21.CURRENT COST MULTIPLIER 1 22. LOCAL COST MULTIPLIER 1.02 23. FINAL SQUARE FOOT COST $54 24.AREA 16,800 25.AREA X SF COST $908,551 26.LUMP SUMS 27. REPLACEMENT COSTS $908,551 28, DEPRECIATION% 80% 29. DEPRECIATED AMOUNT $726,841 29. DEPRECIATED COST $181,710 INDEXED COST 100% $181,710 JUL-2012 COST ADJUSTMENT 1.169 $155,441 COUNTY LAND VALUE $1,491,930 TOTAL COST 2012 $1,647,371 BOE SUMMARY SHEET Account Number: R6275086 COPART INC C/O TAX DEPT 14185 DALLAS PARKWAY SUITE 300 DALLAS, TX 75254 HEARING DATE: July 29, 2014, AT 3:30 PM �) / HEARING ATTENDED? `rh/N)p ne NAME: &YD1 Al/fQAe7'/7t AGENT NAME: STEVENS & ASSOCIATES COST REDUCTION SPEC 9635 MAROON CIRCLE SUITE 450 ENGLEWOOD,.� CO/80112-5902 APPRAISER NAME: WJM U)ade fie%e5 DECISION ACTUAL VALUATION APPROVE BY SET BY ASSESSOR BOARD TOTAL ACTUAL VALUE $2,427,930.00 a, aODI ODD. 00 COMMENTS: �jJ n n', MOTION BY /-/ F� TO !(Q41 SECONDED BY a6 a Conway -- LOC Freeman -- N Failed to prove appropriate value Kirkmeyer-- Y No comparables given Rademacher--WN) Assessor's value upheld Garcia --ON) Other: �-ed on 9€ of build;nq RESOLUTION NO. 2014-2343 M:\CBOE\Letter Templates\Summary Sheet.docx Hello