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HomeMy WebLinkAboutR11-007 Assessor Generated Abatements Commissioner I I'' -J - 1 �- moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO Resolution No. 2011 - le 00 RESOLUTION CONCERNING ASSESSOR 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 the Eagle County Assessor (the "Assessor ") for the purposes of correcting erroneous valuations for assessment, irregularity in levying, clerical errors and/or overvaluations discovered by the Assessor; and WHEREAS, the Board has considered the recommendations of the Assessor with respect to the abatement petitions submitted by the Assessor, and such recommendations are attached hereto as Exhibit "A," and incorporated herein by this reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Eagle County, Colorado, THAT, the Board hereby approves the recommendations of the Assessor for the schedule numbers, the tax years and the reasons set forth in the Assessor's recommendations 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." MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado at its regular meeting held thel,S day of j 0.42..s---} 2011. COUNTY OF EAGLE, STATE OF COLORADO BY AND THROUGH ITS BOARD OF COUNTY COMMI IONERS BY: j J avne Ch. ATTEST: 4 4 00 1°.°1111111. o 'eter F. Runyon, Commissioner Board of Coun Co • • ers Sara J. Fisher, C mmissioner 107 • Commissioner +A (ii'1 -- seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Jon Stavney k+•. A L A Commissioner Peter F. Runyon Commissioner Sara J. Fisher, This Resolution passed by 3 f vote of the Board of County Commissioner of the County of Eagle, State of Colorado. 2 IL ABATEMENT RECOMMENDATION 11 '' ASSESSOR GENERATED X ADMIN CHANGE YES / NO TAXPAYER GENERATED ADMIN- CHANGED BY DATE CHANGED To: Mark Chapin, Eagle County Assessor From: Lee martens Date: 9/13/2010 Owner: John Chaves & Lora Russel Schedule #: R057870 Parcel #: 2111 - 062 -09 -002 The appraisal section has completed its review of the referenced property as of this date and hereby submits it's findings & recommendations as stated below: Denial X Approval as Submitted Abatement /Refund different than requested (Approval in part) Assessment Rate: 29 % Classification: Vacant Land TAX YEAR 2009 TAX YEAR TAC SC070 Mill Rate 50.787 TAC Mill Rate Actual Assd Taxes Actual Assd Taxes rig: $478,540 $138,780 $7,048.20 Orig: ,orr: $370,000 $107,300 $5,449.46 Corr: Abate:$108,540 $ 31,480 $1,598.74 Abate: The basis of the recommendation is: After the appeal the Assessor's Office found that land in the subject's neighborhood was selling for between $44,500 per acre and $9,250 per acre. The Adjusted value is based on the following factors. Sales adjusting for size, location, topography and utilities, coupled with the sale of the adjoining parcel to the subject with the same exact topography and utilities. The adjoining parcel sold on 5/30/2008 for $370,000. The subject was valued at $370,000 to be equitable with the sale price of the adjoining property. This abatement is to correct the 2009 value to the 2010 appeal adjusted value. Accordin g to state law the valuation must be the same for 2009 & 2010 unless an unusual condition has occurr-. Therefore, I would recommend approval to this abatement. EXHIBIT i A ._ Appraisal Manager Approval : { ( t Assessor Approv_ ' r G: \DOCS \Forms \ABATREC2.FRM rev. 08/18/09 jmc 1 ABATEMENT RECOMMENDATION 11 ' ASSESSOR GENERATED X ADMIN CHANGE YES / NO TAXPAYER GENERATED ADMIN- CHANGED BY DATE CHANGED To: Mark Chapin, Eagle County Assessor From: Lee Martens Date: 9/13/2010 Owner: Mountain Goat Properties LLC Schedule #:R051044 Parcel #: 2465- 112 -27 -002 The appraisal section has completed its review of the referenced property as of this date and hereby submits it's findings & recommendations as stated below: Denial X Approval as Submitted Abatement /Refund different than requested (Approval in part) Assessment Rate: 29 % Classification: Commercial property TAX YEAR 2009 TAX YEAR TAC 081 Mill Rate ,61.528 TAC Mill Rate Actual Assd Taxes Actual Assd Taxes Orig: $1,003,050 $290,890 $17,897.88 Orig: eorr: $ 880,080 1 $255,220 $15,703.18 Corr: Abate:$ 122,970 $ 35,670 $ 2,194.70 Abate: The basis of the recommendation is: The original value was set using the mass appraisal market method to value the property. With the appeal the assessor office built a specific grid sheet to defend the mass appraisal value and found the property to be overvalued. The value adjustment made by the assessor office after appeal is based on specific sales of like properties to the subject. The Value adjustment was made to bring in line with comparable sales. According to state statute the valuation must be the same for 2009 & 2010 unless an unusual condition existed. Since there were no unusual conditions, I recommend approval of this abatement. Appraisal Manager Approval: t3dAd Assessor Approval / i i c G: \DOCS \Forms \ABATREC2.FRM rev. 08/18/09 jmc 11 ABATEMENT RECOMMENDATION 11 ASSESSOR GENERATED X ADMIN CHANGE YES / NO TAXPAYER GENERATED ADMIN- CHANGED BY DATE CHANGED To: Mark Chapin, Eagle County Assessor From: Lee Martens Date: 9/15/2010 Owner: Stutsman Tri- Alliance LTD Schedule #: R029423 Parcel #: 2465- 112 -03 -007 The appraisal section has completed its review of the referenced property as of this date and hereby submits it's findings & recommendations as stated below: Denial X Approval as Submitted Abatement /Refund different than requested (Approval in part) Assessment Rate: 29/7.96 % Classification: _Commercial /Residential TAX YEAR 2009 TAX YEAR TAC 081 Mill Rate 61.528 TAC Mill Rate Actual Assd Taxes Actual Assd Taxes _, „rig: $1,877,170 $511,630 $31,479.56 Orig: rr: $1,043,010 269 720 $ $16,595.34 Corr: Abate:$ 834,160 $241,910 $14,884.22 Abate: The basis of the recommendation is: This property was originally valued using the market method with sales in the area. The income method for valuation was considered after the owner provided financials. The owner rents with a gross lease in which the owner pays all the expenses and does not pass any operational expenses on to the renters. The owner's financials were analyzed and fell in line with the market rent analysis conducted by the Assessor's office. The analysis indicated rents at $12.00 S/F which created an effective gross income (after adjustment for vacancy and collection) of $62,580.60. With a local cap rate of 6% applied to the EGI the value is $1,043,010. This abatement is to correct the 2009 value to the 2010 appeal adjusted value. According to state statute the valuation must be the same for 2009 & 2010 unless an unusual condition existed. Since there were no unusual conditions, I recommend approval of this abatement. /7 Appraisal Manager Approval: f -JI << U Assessor Approv / /r/ G: \DOCS \Forms \ABATREC2.FRM rev. 08/18/09 jmc II ABATEMENT RECOMMENDATION 11 •' • ASSESSOR GENERATED X ADMIN CHANGE YES / NO TAXPAYER GENERATED ADMIN- CHANGED BY - DATE CHANGED To: Mark Chapin, Eagle County Assessor From: Lee Martens Date: 9/15/2010 Owner: Stutsman Tri- Alliance LTD Schedule #:_R029424 Parcel #: 2465 - 112 -03 -008 The appraisal section has completed its review of the referenced property as of this date and hereby submits it's findings & recommendations as stated below: Denial X Approval as Submitted _ Abatement /Refund different than requested (Approval in part) Assessment Rate: 29 Classification: Commercial - TAX YEAR 2009 TAX YEAR TAC 081 Mill Rate 61.528 TAC Mill Rate Actual Assd Taxes Actual Assd Taxes Orig: $1,245,080 $361,070 $22,215.92 Orig: orr: $ 747,050 $216,640 $13,329.44 Corr: Abate:$ 498,030 $144,430 $ 8,886.48 Abate: The basis of the recommendation is: This property was originally valued using the market method with sales in the area. The income method for valuation was considered after the owner provided financials. The owner rents with a gross lease in which the owner pays all the expenses and does not pass any operational expenses on to the renters. The owner's financials were analyzed and fell in line with the market rent analysis conducted by the Assessor's office. The analysis indicated rents at $12.00 S/F which created an effective gross income (after adjustment for vacancy and collection) of $44,823.00. With a local cap rate of 6% applied to the EGI the value is $747,050. This abatement is to correct the 2009 value to the 2010 appeal adjusted value. According to state statute the valuation must be the same for 2009 & 2010 unless an unusual condition existed. Since there were no unusual conditions, I recommend approval of this abatement. AillP -.Or Appraisal Manager Approval: : a) I, I fc� Pp 9 pP Assessor Approval: G: \DOCS \Forms \ABATREC2.FRM rev. 08/18/09 jmc D ABATEMENT RECOMMENDATION If • " ASSESSOR GENERATED X ADMIN CHANGE YES / NO TAXPAYER GENERATED ADMIN CHANGED BY ':I7) DATE CHANGED To: Mark Chapin, Eagle County Assessor From: Lee Martens Date: 9/15/2010 Owner: Stutsman Tri- Alliance LTD Schedule #: R029425 Parcel #: 2465 - 112 -03 -009 The appraisal section has completed its review of the referenced property as of this date and hereby submits it's findings & recommendations as stated below: Denial X Approval as Submitted Abatement /Refund different than requested (Approval in part) Assessment Rate: 29 % Classification: Commercial TAX YEAR 2009 TAX YEAR TAC 081 Mill Rate 61.528 TAC Mill Rate Actual Assd Taxes Actual Assd Taxes rig: $1,420,010 $411,810 $25,337.84 Orig: rr: $ 806,110 $233,780 $14,384.00 Corr: Abate:$ 613,900 $178,030 $10,953.8* Abate: The basis of the recommendation is: This property was originally valued using the market method with sales in the area. The income method for valuation was considered after the owner provided financials. The owner rents with a gross lease in which the owner pays all the expenses and does not pass any operational expenses on to the renters. The owner's financials were analyzed and fell in line with the market rent analysis conducted by the Assessor's office. The analysis indicated rents at $12.00 S/F which created an effective gross income (after adjustment for vacancy and collection) of $48,366.60. With a local cap rate of 6% applied to the EGI the value is $806,110. This abatement is to correct the 2009 value to the 2010 appeal adjusted value. According to state statute the valuation must be the same for 2009 & 2010 unless an unusual condition existed. Since there were no unusual conditions, I recommend approval of this abatement. Appraisal Manager Approval: c)l to lO Assessor Approva ./ 7 G: \DOCS \Forms \ABATREC2.FRM rev. 08/18/09 jmc 11 ABATEMENT RECOMMENDATION 1I ASSESSOR GENERATED X ADMIN CHANGE YES / NO TAXPAYER GENERATED ADMIN- CHANGED BY s DATE CHANGED To: Mark Chapin, Eagle County Assessor From: Lee Martens Date: 9/15/2010 Owner: Stutsman Tri- Alliance LTD Schedule #: R029434 Parcel #: 2465- 112 -03 -010 The appraisal section has completed its review of the referenced property as of this date and hereby submits it's findings & recommendations as stated below: Denial X Approval as Submitted Abatement /Refund different than requested (Approval in part) Assessment Rate: 29 Classification: Commercial TAX YEAR 2009 TAX YEAR TAC 081 Mill Rate 61.528 TAC Mill Rate Actual Assd Taxes Actual Assd Taxes Orig: $2,347,300 $680,720 $41,883.36 Orig: `. rr: $1,357,200_ $393,590 $24,216.82 Corr: Abate:$ 990,100 $287,130 $17,666.54 Abate: The basis of the recommendation is: This property was originally valued using the market method with sales in the area. The income method for valuation was considered after the owner provided financials. The owner rents with a gross lease in which the owner pays all the expenses and does not pass any operational expenses on to the renters. The owner's financials were analyzed and fell in line with the market rent analysis conducted by the Assessor's office. The analysis indicated rents at $12.00 & $16.00 S/F which created an effective gross income (after adjusLment for vacancy and collection) of $81,432.00. With a local cap rate of 6% applied to the EGI the value is $1,357,200. This abatement is to correct the 2009 value to the 2010 appeal adjusted value. According to state statute the valuation must be the same for 2009 & 2010 unless an unusual condition existed. Since there were no unusual conditions, I recommend approval of this abatement. Appraisal Manager Approval: � i iO Assessor Approv 7 t G: \DOCS \Forms \ABATREC2.FRM rev. 08/18/09 jmc i II ABATEMENT RECOMMENDATION I • ASSESSOR GENERATED X ADMIN CHANGE YES / NO TAXPAYER GENERATED ADMIN- CHANGED BY '-:) DATE CHANGED To: Mark Chapin, Eagle County Assessor From: Lee Martens Date: 9/15/2010 Owner: Stutsman Tri- Alliance LTD Schedule #: R027863 Parcel #: 2465- 112 -02 -003 The appraisal section has completed its review of the referenced property as of this date and hereby submits it's findings & recommendations as stated below: Denial X Approval as Submitted Abatement /Refund different than requested (Approval in part) Assessment Rate: 29 Classification: Commercial TAX YEAR 2009 TAX YEAR TAC 081 Mill Rate 61.528 TAC Mill Rate Actual Assd Taxes Actual Assd Taxes Orig: $2,004,550 $581,320 _ $35,767.44 Orig: orr: $1,014,160 $294,100 _ $18,095.38 Corr: Abate:$ 990,390 $287,220 $17,672.06 Abate: The basis of the recommendation is: This property was originally valued using the market method with sales in the area. The income method for valuation was considered after the owner provided financials. The owner rents with a gross lease in which the owner pays all the expenses and does not pass any operational expenses on to the renters. The owner's financials were analyzed and fell in line with the market rent analysis conducted by the Assessor's office. The analysis indicated rents at $16.50 S/F which created an effective gross income (after adjustment for vacancy and collection) of $60,849.58. With a local cap rate of 6% applied to the EGI the value is $1,014,160. This abatement is to correct the 2009 value to the 2010 appeal adjusted value. According to state statute the valuation must be the same for 2009 & 2010 unless an unusual condition existed. Since there were no unusual conditions, I recommend approval of this abatement. Appraisal Manager Approval: Lk,/ J3 Jt b Assessor Approvay/'�` G: \DOCS \Forms \ABATREC2.FRM rev. 08/18/09 jmc 1 ABATEMENT RECOMMENDATION II ' ASSESSOR GENERATED X ADMIN CHANGE YES / NO TAXPAYER GENERATED ADMIN- CHANGED BY ¢ DATE CHANGED To: Mark Chapin, Eagle County Assessor From: Lee Martens Date: 9/13/2010 Owner: Rising Sun Real Estate LLC Schedule #: R051043 Parcel #: 2465 - 112 -27 -001 The appraisal section has completed its review of the referenced property as of this date and hereby submits it's findings & recommendations as stated below: Denial X Approval as Submitted Abatement /Refund different than requested (Approval in part) Assessment Rate: 29 % Classification: Commercial TAX YEAR 2009 TAX YEAR TAC 081 Mill Rate 61.528 TAC Mill Rate Actual Assd Taxes Actual Assd Taxes e rig: $1,317,000 $381,930 $23,499.40 Orig: orr: $1,050,000 500 $ $18,735.28 Corr: Abate: $ 267,000 $ 77,430 $ 4,764.12 Abate: The basis of the recommendation is: This property was originally valued using the market method with sales in the area. The income method for valuation was considered after the owner provided financials. The owner's financials were analyzed and fell in line with the market rent analysis conducted by the Assessor's office. The analysis indicated rents at $15 S/F which created an effective gross income (after adjustment for vacancy and collection) of $63,000. With a local cap rate of 6% applied to the EGI the value is $1,050,000. A stipulation for 2010 was signed between the owner's agent and the Assessor's office for a value of $1,050,000. This abatement is to correct the 2009 value to the 2010 appeal adjusted value. According to state statute the valuation must be the same for 2009 & 2010 unless an unusual condition existed. Since there were no unusual conditions, I recommend approval of this abatement. Appraisal Manager Approval / J044 Assessor Approva7,. / G: \DOCS \Forms \ABATREC2.FRM rev. 08/18/09 jmc I ABATEMENT RECOMMENDATION • ASSESSOR GENERATED X ADMIN CHANGE YES / NO TAXPAYER GENERATED ADMIN- CHANGED BY DATE CHANGED To: Mark Chapin, Eagle County Assessor From: Lee Martens Date: 9/15/2010 Owner: William Glasener & Sherie LeBlanc Schedule #: R028764 Parcel #: 2465 - 112 -02 -004 The appraisal section has completed its review of the referenced property as of this date and hereby submits it's findings & recommendations as stated below: Denial X Approval as Submitted Abatement /Refund different than requested (Approval in part) Assessment Rate: 29 % Classification: Commercial TAX YEAR 2009 TAX YEAR TAC 081 Mill Rate 61.528 TAC Mill Rate Actual Assd Taxes Actual Assd Taxes ,...-25ig: $988,380 $286,630 $17,635.76_ Orig: rr: 694 080 : $ $01,280 $12,384.36 Corr. Abate:$294,300 $ 85,350 _ $ 5,251.40 Abate: The basis of the recommendation is: This property was originally valued using the Income method with the main building being valued as rented office space for the market rent of $20 per S /F. Value was adjusted after review of property and owners statement that he used the property primarily for his own fencing company. The owner rents the main building which is used as an assembly shop for $2,000 a month with a gross lease. Using actual rental income would produce an understated value for the property. Using the Market method produces an equitable value that takes into account the value of the land used for the fencing company as well as an equitable value for the rented improvement on the parcel. According to state statute the valuation must be the same for 2009 & 2010 unless an unusual condition existed. Since there were no unusual conditions, I recommend approval of this abatement. 1 Appraisal Manager Approval: J2-WIb Assessor Approval/ 12 . G: \DOCS \Forms \ABATREC2.FRM 7 rev. 08/18/09 jmc lI ABATEMENT RECOMMENDATION II ASSESSOR GENERATED X ADMIN CHANGE YES / NO' TAXPAYER GENERATED ADMIN- CHANGED BY t - DATE CHANGED To: Mark Chapin, Eagle County Assessor From: Lee Martens Date: 9/15/2010 Owner: Oates, Hughes & Knezevich PC Profit Sharing Trust Schedule #: R050665 Parcel #: 2465- 112 -25 -002 The appraisal section has completed its review of the referenced property as of this date and hereby submits it's findings & recommendations as stated below: Denial X Approval as Submitted Abatement /Refund different than requested (Approval in part) Assessment Rate: 29 % • Classification: Commercial TAX YEAR 2009 TAX YEAR TAC 081 Mill Rate 61.528 TAC Mill Rate Actual Assd Taxes Actual Assd Taxes rig: $976,500, $283,190 $17,424.12 Orig: orr: $516,920 149 910 ,$ $ 9,223.6* Corr: Abate: $459,580 $133,280 $ 8,200.4 Abate: The basis of the recommendation is: This property was originally value using the income method with market rents of $19 S /F. After appealing the owners provided a copy of the long term lease for the property with a triple net lease of $10.75 S /F. The analysis of the lease indicated an effective gross income (after adjustment for vacancy and collection) of $31,015.00. With a local cap rate of 6% applied to the EGI the value is $516,920. This abatement is to correct the 2009 value to the 2010 appeal adjusted value. According to state statute the valuation must be the same for 2009 & 2010 unless an unusual condition existed. Since there were no unusual conditions, I recommend approval of this abatement. Appraisal Manager Approval: / idyl l0 Assessor Approva i G: \DOCS \Forms \ABATREC2.FRM rev. 08/18/09 jmc ABATEMENT RECOMMENDATION ASSESSOR GENERATED X ADMIN CHANGE YES / NO TAXPAYER GENERATED ADMIN- CHANGED BY DATE CHANGED To: Mark Chapin, Eagle County Assessor From: Lee Martens Date: 9/13/2010 Owner: Hyrup Properties LLLP Schedule #: R027500 Parcel #: 2467 - 082 -00 -001 The appraisal section has completed its review of the referenced property as of this date and hereby submits it's findings & recommendations as stated below: Denial X Approval as Submitted Abatement /Refund different than requested (Approval in part) Assessment Rate: 7.96/29 % Classification: Residential /Commercial TAX YEAR 2009 TAX YEAR TAC 007 Mill Rate 55.313 TAC Mill Rate Actual Assd Taxes Actual Assd Taxes fi *ig: $1,807,650 $378,320 $20,926.00 Orig: Corr: $1,458,350 $271,960 $15,042.92 Corr: Abate:$ 349,300 $106,360 $ 5,883.08 Abate: The basis of the recommendation is: This property is a combination residential and commercial parcel. The residential value was not appealed. The commercial property was originally valued using the market method with sales in the area. The income method for valuation was considered after the owner provided financials. The owner's financials were analyzed and fell in line with the market rent analysis conducted by the Assessor's office. The analysis indicated rents at $12 S/F which created an effective gross income (after adjustment for vacancy and collection) of $44,452. With a local cap rate of 6% applied to the EGI the total commercial value is $740,870. This abatement is to correct the 2009 value to the 2010 appeal adjusted value. According to state statute the valuation must be the same for 2009 & 2010 unless an unusual condition existed. Since there were no unusual conditions, I recommend approval of this abatement. Appraisal Manager Approval: .// 1a11000 Assessor Approval: G: \DOCS \Forms \ABATREC2.FRM rev. 08/18/09 jmc I� ABATEMENT RECOMMENDATION II • ASSESSOR GENERATED X ADMIN CHANGE YES / NO TAXPAYER GENERATED ADMIN- CHANGED BY DATE CHANGED To: Mark Chapin, Eagle County Assessor From: Lee Martens Date: 9/15/2010 Owner: FPP Associates LLC Schedule #: R032594 Parcel4#: 2467- 074 -05 -016 The appraisal section has completed its review of the referenced property as of this date and hereby submits it's findings & recommendations as stated below: Denial X Approval as Submitted Abatement /Refund different than requested (Approval in part) Assessment Rate: 29 Classification: Commercial TAX YEAR 2009 TAX YEAR TAC 003 Mill Rate 61.003 TAC Mill Rate Actual Assd Taxes Actual Assd Taxes Orig: $2,466,790 $715,370 $43,639.72 Orig: rr: $1.974,530 $572610 $34,930.9. Corr: Abate: 492 : $ ,2�0 $142,760 _ $ 8,708.8® Abate. • The basis of the recommendation is: This property was originally valued using the market method with sales in the area. The income method for valuation was considered after the owner provided financials. The owner's financials were analyzed and fell in line with the market rent analysis conducted by the Assessor's office. The analysis indicated rents at $17 & $25 S/F which created an effective gross income (after adjustment for vacancy and collection) of $118,472. With a local cap rate of 6% applied to the EGI the value is $1,974,530. This abatement is to correct the 2009 value to the 2010 appeal adjusted value. According to state statute the valuation must be the same for 2009 & 2010 unless an unusual condition existed. Since there were no unusual conditions, I recommend approval of this abatement. / .� /A Appraisal Manager Approval: 4 Icy) (!7 Assessor Approval // / Anipm G: \DOCS \Forms \ABATREC2.FRM rev. 08/18/09 jmc