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Home My WebLink AboutR10-059 Taxpayer Generated Abatement PetitionsCommissioner moved adoption of the folio ng Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO Resolution No. 2010 - RESOLUTION CONCERNING HEARINGS ON TAXPAYER GENERATED PETITIONS FOR ABATEMENTS AND REFUNDS OF TAXES BEFORE THE EAGLE COUNTY BOARD OF COUNTY COMMISSIONERS WHEREAS, the Board of County Commissioners for Eagle County, Colorado (hereinafter referred to as the "Board") is responsible for hearing petitions for refunds or abatement of property taxes pursuant to C.R.S. §§ 39-1-113 and 39-10-114; and WHEREAS, various petitions for abatement have been submitted to the Board by taxpayers for the purposes of correcting alleged erroneous valuations for assessment, irregularity in levying, clerical errors and/or overvaluations; and WHEREAS, said petitions have been previously submitted to the Eagle County Assessor (the "Assessor'') for consideration and recommendation; and WHEREAS, the Board has appointed an independent hearing referee experienced in property valuation (the "Referee") to conduct hearings on behalf of the Board, to make findings based upon testimony and evidence presented by taxpayers and Assessor's representatives, and to submit recommendations to the Board for its final decision; and WHEREAS, the Referee has submitted his recommendations to the Board for its final decision, the Board has considered such recommendations and such recommendations are attached hereto as Exhibit ``A" and incorporated herein by this reference; and NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Eagle County, Colorado, THAT, the Board hereby approves the recommendations of the Referee for the schedule numbers, the tax years and for the reasons set forth in the Referee's recommendation sheets attached hereto as Exhibit "A" and enters orders with respect to the petitions for abatement in accordance with such recommendations. THAT, for each order issued by the Board in which an adjustment to the respective Petitioners' valuation is indicated, subject to approval by the State Property Tax Administrator where required by the terms of C.R.S. § 39-1-113(3), the Board directs the Assessor to adjust the valuation or take such other action as more particularly set forth in the recommendations set forth and attached hereto as Exhibit "A." BE IT FURTHER RESOLVED that a petition denied, in whole or in part, by the Board can be appealed to the Board of Assessment Appeals within thirty (30) days of the date said decision was mailed to the taxpayer, pursuant to C.R.S. 39-8-108. The appeal forms and instructions for appeal to the Board of Assessment Appeals may be obtained from the Board of Assessment Appeals, Department of Local Affairs, 1313 Sherman Street, Room 315, Denver, Colorado 80203. MOVED, READ AND ADOPTED by the Board of Count ommissioners of the County of Eagle, State of Colorado at its regular meeting held th~~day of /~~~~ , 2010. COUNTY OF EAGLE, STATE OF COLORADO BY AND THROUGH ITS BOARD OF COUNTY COMMISSIONERS BY: J. Fisher, ATTEST: t ~'~'`~' ~ ~ _ St ney, C .~ ,~ ,~ ~ ~ Teak J. Simonton, Clerk to the ~°taa~ // ,~ Board of County Commissioners '~ Peter F. Runyon, Commissioner seconded adoption of the foregoing resolution. The roll having been called, the vote was as fo s: Commissioner Sara J. Fisher Commissioner Jon Stavney Commissioner Peter F. Runyon -~ ~~d April 24, 2010 R022373 122 Allen Circle Tax Years 2007 & 2008 Assessor's Value: $ 350,000 (each year) Petitioner's Value: $ 265,000 (each year) Referee's Recommendation: $ 275,000 (each year) Classification: Residential Land Reason: Small size of lot limits improvement development Differences in treatment of market supported adjustments Selection of sales comparables Unquantifiable view adjustments by each analysis Larger adjustments as percentage of value for elements of comparison NIP~~t r~x I April 30, 2010 R019905 111 Chambers Avenue Tax Years: 2007 & 2008 Assessor's Value: $ 1,553,510 (each year) Petitioner's Value: $ 1,150,000 (each year} Referee's Recommendation: $ 1,653,510 (each year) Classification: Commerciallmproved Reason: Petitioner submitted cost approach of dated property No additional approaches to value or narrative by petitioner Respondent submitted cost, income and sales approaches to value Respondent included sale of subject property in sales analysis Petitioner formed no rebuttal to respondent's approaches to value Properties similar to the subject property buy/sell on income or sales April 24, 2010: Revised 5/3/2010 ' R011551 179 Fairway Drive Tax Year: 2008 Assessor's Value: $ 3,987,130 Petitioner's Value: $ 1,800,000 Referee's Recommendation: $ 2,200,000 Classification: Residential Reason: Improvements of questionable contribution, later "teardown" Partial contribution due to sale late in 2008, (carrying costs) Completely different approaches by petitioner and respondent No improvement recognition by petitioner Full improvement recognition by respondent Although subsequent buyer effected "teardown"; market must attribute value April 30, 2010 Accounts Various Address Various Tax Years: 2009 Assessor's Value: $ 679,170 Petitioner's Value: $ 0 (2009) Referee's Recommendation: $ 679,170 (2009) Classification: Personal Property Reason: Petitioner did not attend hearing Respondent present and prepared to proceed at hearing Petitioner requested administrative denial April 30, 2010 Accounts Various Address Various Tax Years: 2007 & 2008 Assessor's Value: $ 125,360 (2007) $ 307,060 (2008) Petitioner's Value: $ 0 (2007) $ 0 (2008) Referee's Recommendation: $ 125,360 (2007) $ 307,060 (2008) Classification: Personal Property Reason: Petitioner did not attend hearing Respondent present and prepared to proceed at hearing Petitioner requested administrative denial April 25, 2010 R008227 1275 Westhaven Circle Tax Years 2007 & 2008 Assessor's Value: $ 2,600,000 (each year) Petitioner's Value: $1,350,000 (each year) Referee's Recommendation: $ 2,000,000 (each year) Classification: Residential Land Reason: Aerial easement on property end Limited available sales comparables; (each party's selection) Traffic impacts, limited views, site utility & size Challenging improvement development Respondent's sales grid analysis below current value Proximity to village positive aspect April 30 2010 R006918 18 Chateau Court #3 Tax Years: 2007 & 2008 Assessor's Value: $ 5,562,500 (each Year) Petitioner's Value: $ 5,175,000 (each year) Referee's Recommendation: $ 5,562,500 (each year) Classification: Residential Reason: Petitioner presented dated sale of the subject property 4/30/2004 Petitioner did not present sales comparison analysis or narrative Petitioner did not consider any additional sales comparables Respondent presented a complete analysis of comparable sales Respondent presented narrative to support sales comparison grid (~ April 25, 2010 R019944 341 Jackman Ranch Road Tax Years 2007 & 2008 Assessor's Value: $ 993,420 Revised $ 940,000 (each Year) Petitioner's Value: $ 715,000 (each year) Referee's Recommendation: $ 800,000 (each year} Classification: Residential Reason: Improvements nearing "teardown" status Quality and condition classification Range of adjusted sales comparables by each party Selection of sales comparables by each party Lack of market support for improvement contribution No element adjustment for view characteristics (lack of) ~~ April 25, 2010 R019943 341 Jackman Ranch Road Tax Years 2007 & 2008 Assessor's Value: $ 967,960 Revised $ 890,000 (each Year) Petitioner's Value: $ 700,000 {each year) Referee's Recommendation: $ 750,000 (each year) Classification: Residential Reason: Improvements nearing "teardown" status Quality and condition classification Selection of sales comparables by each party Lack of market support for improvement contribution No element adjustment for view characteristics (lack of) April 24, 2010 R022371 560 Homestead Drive Tax Year 2008 Assessor's Value: $ 350,000 Petitioner's Value: $ 280,000 Referee's Recommendation: $ 280,000 Classification: Residential Land Reason: No bracketing in respondent's analysis; selection of comparables Little recognition given to site size by respondent Relationship between site size vs utility Size limitation of improvement for subject borderline size I April 24, 2010 R011605 268 Holden Road Tax Years: 2007 & 2008 Assessor's Value: $ 4,279,660 Revised $ 3,800,000 (each year) Petitioner's Value: $ 2,950,000 (each year) Referee's Recommendation: $ 3,500,000 Classification: Residential Reason: Amended sales comparison grid analysis by respondent Selection of sales comparables by each party Large less supported adjustments by each analysis Comparing gross/net adjustment percentages of each analysis Total adjusted range with revised adjustment values April 25, 2010 R028004 120 Offerson Road Tax Years: 2007 & 2008 assessor's Value: $ 2,281,540 (each year) Petitioner's Value: $ 1,580,000 (each year) Referee's Recommendation: $ 2,281,540 (each year) Classification: Residential Reason: Paired sales time adjustment analysis for specific neighborhood Differences in each party's viewpoint of view corridors Relatively sound sales comparison adjustment grid by respondent Larger gross/net and absolute adjustment percentages by petitioner for "best" comps Variances in square footage adjustments/percentages April 30, 2010 R040434 104 Granada Glen Tax Year: 2009 Assessor's Value: $ 400,500 Petitioner's Value: $ 125,000 Referee's Value: $ 400,500 Classification: Residential Land Reason: Petitioner presented a great many logical arguments Some were based beyond the allowable time frame Some were based on listings and listing histories One was based on sales frequencies in subject neighborhood Petitioner's valid sales analysis had unsupported adjustments Respondent presented a well supported sales comparison grid analysis Respondent presented a verbal narrative in support of adjustments Respondent's sales comparable's selection is market significant ~--- ~ . April 24, 2010 Tax Years: 2007 & 2008 R045300 2385 Daybreak Ridge Assessor's Value: $ 4,50b,250 (each year) Petitioner's Value: $ 3,200,000 {each year) Referee's Recommendation: $ 3,500,000 (each year) Classification: Residential Land Reason: Relatively well supported analysis by petitioner with good narrative Selection of comparable sales by each party questioned Lack of key adjustment amounts and elements of comparison by respondent Large adjusted sales range after analysis in respondents sales grid analysis Reclassification of subject property to lower value grouping April 30, 2010 R055644 1265 Berry Creek Road Tax Years: 2007 & 2008 Assessor's Value: $ 3,034,970 (each year) Petitioner's Value: $ 3,400,000 (each year w/R055645) Referee's Recommendation: $ 3,034,970 (each year) Reason: Assessor/Respondent present and prepared to proceed with hearing Petitioner chose not to attend hearing April 30, 2010 R055645 1265 Berry Creek Road Tax Years: 2007 & 2008 Assessor's Value: $ 4,336,060 {each year) Petitioner's Value: $ 3,400,000 (each year w/R055644) Referee's Recommendation: $ 4,336,060 (each year) Classification: Commercial (golf course) Reason: Assessor/Respondent present and prepared to proceed with hearing Petitioner chose not to attend hearing