Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
abatements
June 14, 2010 Dear Commissioners, This is just a note to let you know that after I prepared the packet of information regarding the denied abatements to be heard tomorrow June 15th, two of the five abatements were settled. The two properties are both owned by Aaron 2002 Family Trust, sch# 16765 and 16766. With Schedule # 16765, the vacant parcel, they agreed to no change in value essentially dropping their appeal and with Schedule # 16766, the improved parcel, they agreed to accept our recommendation of $9,550,000. As a result, these two properties will not need a formal hearing tomorrow as originally scheduled. As a result, we will only have hearings for the 3 remaining abatements: Rich Wagar, sch# 19849; Warren Oak LLC, sch#s 4173 and 4174. I apologize for the late notice. It wasn't until the owner received his written notice of the abatement hearing that he returned our call regarding our recommendations. The signed stipulations just came through today. Should you have any questions, please don't hesitate to give me a call, 920-5166. Thanks, Larry Fite Pitkin County Assessor's Office AGENDA ITEM SUMMARY SPECIAL MEETING DATE: June 15, 2010 AGENDA ITEM TITLE: Denied Abatement Hearings STAFF RESPONSIBLE: Larry Fite and Wendy Schultz ISSUE STATEMENT: These are 5 abatements where the taxpayers are requesting a reduced value as the basis of "erroneous taxation". The assessor's office has reviewed their abatements and has recommended that each be denied. BACKGROUND: A brief summary of each abatement has been attached along with the supporting documents. KEY DISCUSSION ITEMS: Whether or not to approve or deny the requested abatements. BUDGETARY IMPACT: The total amount of taxes to be refunded will be dependent on the outcome of each hearing. RECOMMENDED BOCC ACTION: The BOCC is to make a determination for approval or denial based on the attached information and any presented at the hearing. ATTACHMENTS: Abatement summary, copies of petitioner's exhibits, copies of assessor's exhibits and recommendations. 1 Denied Abatement Summary Sch# 19849, Rich Wagar This parcel is a vacant lot known as Wagar/Detweiler subdivision, lot 1. This abatement is for 2007/2008 with values based on sales that occurred from July 1, 2004 through June 30, 2006. The assessor's assigned value is $2,550,000 and the petitioner is requesting a value of $1,437,500. The parcel is located adjacent to the Smuggler Racquet Club and Molly Gibson Park. After reviewing comparable sales and making adjustments for the differences between the sales and the subject, the assessor's office is recommending that the abatement be denied. In addition, the subject parcel was sold to the City 4/10/2008 for $4,105,000 after having been listed for $4,500,000 (see listing info). As a result of this sale, no taxes were levied for the 2008 tax year. This abatement should only be for the 2007 tax year. If approved, the refund would be: 2007 $9,458.40 ; 2008 N/A Sch# 16765, Aaron 2002 Family Trust This property is a vacant lot identified as Moore Family PUD, Block G, Lot 1. The abatement is for 2007/2008 with values based on sales that occurred from July 1, 2004 through June 30, 2006. The assessor's assigned value is $2,900,000 and the petitioner is requesting a value of $2,300,000 or no change from the previous 2005/2006 valuation cycle. After reviewing 2 comparable sales in the neighborhood, the assessor's office is recommending denial of the abatement. The petitioner's agent provided no supporting documentation in support of their request for a lower value. Of note, this property had appealed the valuation in 2007 to the first round of appeals and was denied. They did not further their appeal beyond the assessor's office at that time. However, since they have already been through the appeal process in 2007, this abatement only applies for the 2008 tax year. If approved, the refund would be: 2007 N/A ; 2008 $7,344.88 Sch# 16766, Aaron 2002 Family Trust This property is an improved property identified as Moore Family PUD, Block G, Lot 2. The abatement is for 2007/2008 with values based on sales that occurred from July 1, 2004 through June 30, 2006. The assessor's assigned value is $9,841,200 and the petitioner is requesting a value of $7,000,000. After reviewing comparable sales and making adjustments to account for the differences between the sales and the subject, the assessor's office is recommending a slight adjustment to $9,550,000 but not the $7,000,000 requested value. The petitioner's agent has not provided any support of their requested value. Of note, this property had appealed the valuation in 2007 to the first round of appeals and was denied. They did not further their appeal beyond the assessor's office at that time. However, since they have already been through the appeal process in 2007, this abatement only applies for the 2008 tax year. If approved, the refund would be: 2007 N/A ; 2008 $9,546.66 Sch# 4174, Warren Oak, LLC This property is an improved metes and bounds parcel located within the Aspen Grove subdivision at 521 McSkimming Road. The abatement is for 2007/2008 with values based on sales that occurred from July 1, 2004 through June 30, 2006. The assessor's assigned value is $2,994,100 and the petitioner is requesting a revised value of $1,130,000. The petitioner's agent states that this parcel was purchased together with an adjacent vacant parcel for $866,666 on 9/17/2004 and that with a time adjustment, the adjusted sale price would be $1,230,000 for the two parcels together. This purchase was part of a 9 parcel bulk sale with a total sale price of $7,800,000. The same $866,666 doc fee was applied to each of the 9 parcels included in the transaction. For this parcel, the assessor's office review improved comparable sales in the subject neighborhood. After making adjustments for the differences between the subject and comparables, the value assigned by the assessor is supported by the comparable sales. The assessor's office is recommending that the abatement be denied. If approved, the refunds would be: 2007: $4,402.06 ; 2008: $4,555.48 Sch# 4173, Warren Oak, LLC This property is a vacant metes and bounds parcel located adjacent to the previous parcel and adjacent to the Aspen Grove subdivision. The abatement is for 2007/2008 with values based on sales that occurred from July 1, 2004 through June 30, 2006. The assessor's assigned value is $1,100,000 and the petitioner is requesting a value of $100,000 with a residential classification as excess land to the adjacent improved parcel (sch# 4174). This parcel, while adjacent to sch# 4174 has always been on a separate account and is treated as a separately buildable parcel. As of the assessment date, this parcel did not have an access road in place. Plans have been made to extend Skimming Lane to access Tots 10, 11 and the subject property. In their 2009 appeal, the owner estimated approximately $1,000,000 to account for the cost of access construction and site specific expenses. The assessor's office has recognized the limitations of the parcel in its current condition and has made a 50% adjustment to account for the expenses associated with the development of the parcel. See screen shot from assessor's software. Last, the assessor's office reviewed similar vacant land sales and made adjustments to account for limited access, views, land size etc.. Based on these comparable sales, the assessor's office is recommending that the abatement be denied. If approved, the refund would be: 2007: $9,227.60 ; 2008: $9,649.22 County Name Pitkio PETITION FOease R tABATEMENT In duplicate es a RE answREr FUNDquestions, TXES Date Received Use Assessor's or Commissioners' Dale Stamp PETITIONER; Complete Section I on this side only Section 1; Data: October 16, 2009 ?.innih Day Year Petitioner's Name: Rich Wager Petitioner's mailing address: 100 South Spring Street 03 CO 81611 Aspen City or TOOft SCHEfULE OR PARCEL IIUMBER(S) R019899 RECEIVED OCT 19 2f08 P)tkin County Afssaictior Slate 2ipCade PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY 517 Park Circle Petitioner slates Thal the taxes assessed against the above properly for property lax year(s) 2007 21'48 .. are incorrect for the following reasons: (Briefly describe the circumstances surrounding the incorrect value or lax. (The petitioner's estimate of actual value must be Included.) Allach additional sheets if necessary. See Exhibit 1 attached hereto and made an integral part hereof. Petitioner's estimate of actual value b 1 437, Son (2002) and SJ_, 437, 500 12008) Value Year Value Year Petitioner requests an abatement or refund el the appropriate taxes associated frith a reduction In valun. I declare, under penally of perjury in the second degree, lhat this petition, together with any accompanying exhibits or statements, has been examined by me, and le the best any knowledge, information and belief, is true, correct and complete. f PalilialbNxlt'iign�irire � �-`_ By Daytime Phone Number P031 757-8865 13 BarrA9an7r:x 5I9pn ru e' y: y G �.c{stein for Sterling Property Tax Specialists, Inc 'Leiter of agency must be attached when petition is submitted. Daytime Phone Number ( Every petition for abalament or refund filed pursuant to section 39t10.114, C.R.S., shall be acted upon pursuant to the provisions of this section by the board of county commissioners or the assessor, as appropriate, within six months of the dale of filing such petition. 391-113(1.7), C.R.S. Section II: Assessor's Use Only Tax Year ___2QQ 1 Tax Year "r013 Assessed Value Tax Assessed Value Original 13113 1Y1r50 Corrected 7510500 139E )0 AbatelRetund Tax (FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY) RESOLUTION OF COUNTY COMMISSIONERS Resolution No, Section it In accorda(ice with 39-1.113(1.5), C.R.S., the commissioners of County authorize the assessor to ravtetyp aldtons for abatement or refund and to settle by written mutual agreement any such petition for, abatement or refund in an amount of one thousand dollars or less per Iracl, parcel, or lot of land or per schoduto of personal properly. • The assessor and petitioner mutually agree to an assessed value and tax abatement/refund of: Tax Year Tax Year Assessed Value . DA Assessed Value Original Corrected Abate/Refund PLEASE 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 YOUR COUNTY TREASURER FOR FULL PAYMENT INFORMATION. petitioner's signature • Auesaor's or DeputyAsaeusor's signature bah Data If Section I Is not complete and/or If petition le for more than $1,000, Section II must be completed. Submit an original petition and a copy to the Division of Property Taxation. Section 11; Assessor's recommendallon: r I Approved or .1 Approved In part $ No protest flied in or . (If a protest was filed, please attach a copy of NOD.) r I Pentad for the following reason(s): • Assessor's qr Deputy Assessor's Signature Secllon 1111 WHEREAS, The County Commissioners of County, Stele of Colorado, of n duly and lawfully called regular meeting held on j i al which meeting there woro prosoni the following mo day lv members: with notice of such meeting and an opporluntly In be present having been given to the taxpayer and the Assessor of said County and Assessor • (being presenf/nat present) and • Name • petitioner (being present/not present). and WHEREAS, The said Mama County Commissloners have carefully considered the within petition, and are tufty advised in retailers thereto, NOW BE IT RESOLVED, Thal the Board (agrees/does not agree) with the recommendation of the assessor and the petition be (approved/donled) and an abatemenUrefund be (approved/dented) for property tax year(s) . and. . The taxes to be•abated/refunded for properly lax year are $ which reptesents an assessed value of $ and the saxes to be abated/refunded for property lax year . are $. which represents an assessed value of $ Chairperson of the Board of County Commissioners' Signature I. County Clerk and Ex-officio Clerk of the Board of County Commissioners in end for Ilte aforementioned county, do hereby certify That the abbvo and foregoing order Is Truly copied from the record of the proceedings of the Board of County Commissioners. • • IN WITNESS WHEREOF,1 have hereunto'set my hand and affixed the seal of said County at • , This day or Time • Data Month Year County Clerk's or DepgtyCounty Cie/We Signature • ACTION OF THE PROPERTY TAX ADMINISTRATOR Denver, Colorado, •l,tonth The action of the Board of County Commissioners, relative to the within petition, Is hereby Approved; • . Approved In pert $ • r•I Dented for the following reason(s): Day Yur PROPERTY TAX SPECIALISTS, INC October 16, 2009 Pitkin County Board of County Commissioners c/o Mr. Tom Isaac 506 East Main Street Suite 202 Aspen, Colorado 81611 RE: 517 Park Circle (Schedule No. R019849) (the "Property") Gentlemen: rl5US. cherry Street, Sutte 32o Denver, CO 8024o Office: 303-757.238(35 Fax: 303-757-7691 wWW.s1crllt1gpr0i)ertyiatspecittlists.co111 PETITIONER'S EXji11BIT The undersigned, Sterling Property Tax Specialists, Inc., represents the owner of the Property for the purpose of filing an abatement for the 2007 and 2008 Valuation. A copy of the Letter of Authorization is attached hereto and made an integral part hereof. The Property is a 14,375 sq. ft, single family lot, which the assessor has valued at $2,550,000. Attached hereto as Exhibit A are two similar sized Tots, which sold during the base period. One is In a similar location on Mt. Laurel, and the second is in the Aspen Highlands area. Both have excellent views. Both properties are slightly larger than the subject and sold for approximately $74 per sq, ft, during the base period, We have made an upward time adjustment as well as a slight adjustment for size to arrive at an adjusted price per sq. ft. for the Property of $100 per sq. ft., based on these two base year sales. Based on $100 per sq. ft., Petitioner hereby requests the Board adjust the value of the Property to $1,437,500 for 2007 and 2008. AD information contained herein should be considered confidential and not available to any third parties. Respectfully submitted, STERLING PROPERTY TAX SPECIALISTS, INC. By: 4.7,/te'd,t ,./e--.4............. Ste Barry J. Gol in, President LETTER O AUTHORIZATION March 4, zoos Sterling Property Tax. Specialists, Inc 950 South Cherry &red, Suite 320 Deaver, Colorado 80246 RE: 2007 and 2008 Property Tax Assessment Matters Gentlemen: The undersigned, as owner(a) ofpropetty located in Pitkin County. Colorado, at 517 Park Circle end more particularly described on Assessor's Notice of Valuation, Schedule Nos. R019849 hereby authorizes Sterling Property Tax Specialists, Inc. and Barry J. Goldstein, Esq, to act as agent on my behalf regarding all 2007 2008 property taut assessment matters, and obtain any.and all doowaeads relating th - and file any protests necessary. Tills Authorization shall be effective as of the da . ,, above, oloseier a - d E 'd 66E0 'oN RICH 11(), ••,agar, Owner Telephone: 970 920-3137 x�� .LRca3SL 1 dH 1 dZS:Z i800Z 'OE 'adaw ALL FIELDS CUSTOMIZABLE MLS # Status Type Address City State Zip Area Class Asking Price Sale/Rent 46113 Sold Single Fm Lot 881 MOUNTAIN LAUREL ASPEN CO 81611 01 EA -East Aspen LOTS/LAND $1,496,000 For Sale LOT SIZE ACREAGE IMPROVED WIHOME 12,001 - 22,000 Refer to Lot Size Yes PETITIONER'S EXHIBIT IA GENERAL Realtorcom (YIN) Fiat Fee (Y/N) Expiration Date Legal # of Acres Zoning FAR Directions Status Date Price Date General Date Original Price Price/Acres Yes No 4/30/2006 LOT101BLOCK3MTNVALLE 0.42 SF Y HIGHWAY 82 TO MOUNTAIN VALLEY SUBDIVISION LOOK FOR SIGN 4/13/2005 4/13/2005 4/12/2005 $1,600,000 $3,273,809.62 Variable (YIN) Listing Date SublLoc Lot SOFT County Owner Allowable FAR Off Market Date HotSheet Date Input Date Associated Document Count Days On Market No 2/1/2003 Mtn Valley 18295.20 Pitkin BASS 3600 4/12//2006 4/13/2005 2/5/2003 0 801 FEATURES ACCESS Paved ELECTRIC Yes GAS Available Natural Gas WATER City Other MINERAL RIGHTS No DOCUMENTS ON FILE Other POSSIBLE USE Single Family LOT DESCRIPTIONS View TERMS OFFERED Cash AGENCY Exclusive Right to Sell SIGN Yes SHOWING INSTRUCTIONS Cali Listing Office Vacant FINANCIAL Taxes Transfer Tax (Y/N) Special Assessment $9,483.44 No N Tax Year HOA Fees ($!Per) Financing Remarks 2003 N TAXES SUBJT TO CHG SOLD STATUS How Sold Closing Date Cash 4/12/2005 Contract Date Sold Price 1/19/2005 $1,375,000 REMARKS SPECTACULAR VIEWS OF INDEPENDENCE PASS, ASPEN MOUNTAIN SKI AREA AND THE ASPEN CLUB FROM THE TOP OF MOUNTAIN VALLEY IN ASPEN. THE 1041 APPROVAL IS IN PLACE! AN INCREDIBLE OPPORTUNITY! DISCLAIMER This information is deemed reliable, but not guaranteed. 1 ALL FIELDS CUSTOMIZABLE MLS # Status Type Address City State Zip Area Class Asking Price SaleIRont Virtual Tour 51372 Sold Single Fm Lot Maroon Lot 2-Exhibition Lane Aspen CO 81811 01 WA -West Aspen LOTS/LAND $1.950,000 For Sale LOT SIZE ACREAGE IMPROVED WIHOME 22,001 - 32,000 Refer to Lot Size No GENERAL Realtor.com (YIN) Flat Fee (Y/N) Expiration Date Legal # of Acres Owner Directions Status Date Price Date General Date Original Price Price/Acres Yes No 12/20/2005 AHV PUD BIk:G Lot2 0.58 POC BOHN AHV - Right on Exhibition Lane 9/27/2005 9/27/2005 9/8/2005 $2,295,000 $3,189,655.17' Variable (YIN) Listing Date SublLoc Lot SOFT County FAR Off Market Date HotSheet Date Input Date Associated Document Count Days On Market No 12/2012004 Asp Hlghlandvtg 25284.80 Pitkin Y 7/22/2005 9/27/2005 12/22/2004 0 214 FINANCIAL Taxes Transfer Tax (YIN) Spacial Assessment 36,555.84 No 0 Tax Year HOA Fees ($!Per) 2003 8301gtr SOLD STATUS How Sold Closing Date Cash 9/8/2005 Contract Date Sold Price 7/22/2005 $1,850,000 REMARKS Rare slopesfde Aspen Highlands Premier ski-In/out iot.Expansive views of MLBaldy, Red Mountain & the Maroon Bells Wilderness area. Ritz Carlin Club ammentlies association Included in purchase. Far is 6000 above grade & 4000 below grade. ADDITIONAL PICTURES DISCLAIMER This information is deemed reliable, but not guaranteed. Appraiser Recommendation for Abatement Assessor Generated C Taxpayer Generated IZ. To: Toni Isaac, Pitkin County Assessor From: Wendy Schultz Date: 1 /7/10 Petitioner: Rich Wager Schedule #: R019849 Parcel #: 273707401016 The appraiser has completed a review of the referenced property, as of this date, and hereby submits a recommendation as stated below: IZ Deny 0 Approve as Submitted 0 Abatement/Refund Different than requested Abatement for Year: 2007 Data collection period 7/1/04 — for year #1: 6/30/06 Assessment Rate: 29% Tax Area: 001 Mill Levy: 29.317 Actual Value this year: 2,550,000 New Value: 2,550,000 Assessed Value Tax Amount Original value: $739,500 $ Corrected value: $739,500 $ Refund: $0 $0 Abatement for Year: 2008 Data collection period 7/1/04 — for year #2: 6/30/06 Assessment Rate: 29% Tax Area: 001 MIII Levy: 30.351 Actual Value this year: 2,550,000 New Value: 2,550,000 Assessed Value Tax Amount Original value: $739,500 $ Corrected value: $739,500 $ Refund: $0 $0 The basis of this recommendation is: The subject property is a vacant parcel of 0.33 acres located on the East side of Aspen at 517 Park Avenue, in the City of Aspen zone district. It has excellent views of Aspen Mountain, Mount Sopris, Red Mountain, and Smuggler Mountain. The lot Is flat with Smuggler Racquet Club on one side and Pitkin County —owned Mollie Gibson Park on the other side. The subject's lot is higher in elevation than the Racquet Club so views are unobstructed. The subject has an allowable FAR of 3,400 square feet, which is similar to the comparables l looked at. The 3 comparables used are all on the East side of Aspen. 1. The first comp is 271 Park Avenue which is less than % mile away from the subject. Thls property has much inferior views and an inferior location since it's in a dense part of town and is not next to a park. However, it Is closer to town and near the pedestrian bridge on Hopkins. It is also a flat lot but is much smaller. This lot sold on February 9n, 2005 for $2,448,625. oI 2. The second comp is 774 Spruce Street which is less than half of a mile away from the subject to the North. This site is very steep with limited access and will be difficult to hook up to utilities. It is 1.179 acres and has excellent views. This property is located in the County and is zoned TR-2 which gives it 3,500 square feet of FAR. Although superior in respect to size and views, this site has issues of setting up utilities as well as concerns on steepness that may detract property value. The property sold on October 26th, 2005 for $2,153,906. 3. The final comp is 681 Mountain Laurel which is outside of town to the East in the Mountain Valley subdivision. This property is in the County and allows 3,696 square feet of FAR. The site is slightly larger than the subject yet is steeper and has inferior views. The neighborhood is considered inferior thus there are greater positive adjustments made to this comparable. The land sold February 9th, 2005 for $1,723,906. Our office does not use price per square foot to value properties. I fully believe these comparables support our value of $2,550,000 for the appraisal date of June 30th, 2006. Chief Appraiser Approval: Assessor Approval: �0 PITKIN COUNTY ASSESSORS OFFICE Rich Wagar r 4. v ITEM SUBJECT COMPARABLE 1 COMPARABLE 2 COMPARABLE 3 SCHEDULE* 19849 19134 13303 4160 -4 A Address 517 Park 271 Park 774 Spruce 681 Mountain Laurel Proximity to Subi. less than 1/4 mile away towards town 0.30 miles North outside of town § 0 . 02/09/05 - 02/09/05 1 - 1 Park/Dale Lot 1 1 - M8,2 Smuggler Mountain - 1 Mountain Valley 1 $ 500.000 I _ 1.179 acres 6,000 sq ft $ $ - 18,480 sq ft $ _ _ • No views, close to river Exc views - Aspen Mountain and pedestrian bridge $ 150,000 to Red Mountain $ inferior views 1 $ 200 000 Fiat lot 1 $ -1 Very steep lot 1 $ 200,000 1 Steep lot 1 $ 100,000 veli I City 2400 sq ft*- 1 $ 100,000 County 3500 sq ft $ - County 3696 sq ft $ Utility hook-ups - Difficult to access $ 100,000 Utility hook-ups $ - Limited access $ 100,000 § v3, I g at. R I ESTIMATED MARKET VALUE AS OF JUNE 30, 2006: 1 $2550,000 r • 1 1 § ci c) .nt a 0 69 2 c4 z 1 M o tn N to o4 to § fft c4' 64 W <NI z 0 1 1 a. LOCATION Wagar/Detweiler Lot 1 0.33 acres or 14,375 sq SITE SIZE ft Exc view - Aspen Mountain to Sopris VIEWS Mountain 'TOPOGRAPHY Flat lot InEDWABLE FAR (ABOVE GROUND) 1 City 3400 sq ft 'OTHER Utility hook-ups OTHER .. 4) 1:1 q 1 0 > 0 u R 4 U) t .0 0 004 4r- 1.\ pen t Land Sales g > > > > — > > > > $1,875:000 I safe price 1 time adj pric:e I $1,025.000 I $1,213,344 t $5,300,000 I $6,088,375 C3 a V) V"' 0, 1 $1,900,000 I $2,448,625 I $1,375,000 I $1,723,906 0 tc, RI - LC) (47 0) - 8 . 8 ' otz• . f2,`/ 0/ (ft fi) 0 0 0 LO 0 0 0 0 t NI Q Cs3. 0 It to 8 ,..c° i.,0 ci• Q cd 0 tti t,- ....,, 3 •,-- (f) %-,. til „,- 4e) _10 tttlyt1 "4' tO tO 10 in to D ,..7) 42 Is 9 .° ,-, 90,9. 94 9 Squ 9 9,8 sut? •ci .t- 5 'y < 7 LI- 2 2 1 (NI r w 21000 18480 .IS 0 01 0) -0 0) HWY 82 DIFFICULT $NULL PARK MOUNTAIN LAUREL HWY 82 CEMETERY SPRUCE 1SPRUCE E co c co a a C4 0 Is4 a o (V 0 1020101 1020101 43399 102020! 271 I co co to a 0 1020511 1020521 102100 102100 774 as v .0 nbhd description 0 V) STILLWATER RANCH PARK -DALE !MOUNTAIN VALLEY KNOLLWOOD lEASTVVOOD th 0 'CIO 0 0 '0 C C C = 0 0 2 2 2 2 .2 TS V 'CI '0 C 01 C ttl C $ A (t) 2 Iii 8 15 E E E E E co cy) cs4 tp I Cr1 0 CO CD OP tO 1-... r- r-- 01 o 0) c::$ c, 0 40 t•-• CO v." Nr- __•• cn r- v- au fr3 -1. C.) V• V. OD 11) (0 r- (9 0 v-^ 0000000000 a C4WCEVECt(tWCettir flexmls Web Page 2 of 5 Address: 617 Park Circle Aspen, CO 61611 Status: Closed Asking Price: $4,260,000 List 97996 Number: Type: Single Family Lot Area; O1SM- Smuggter Major Area: Aspen Sub!Loc: Smuggler Mtn County: Pitkin Lot Size: 12,001 - 22,000 Lot SqFt: 14,458 Acreage: Refer to Lot Size Nbr of 0.33 Acres: Zoning: List Price Per/Acre: 12,878,787,88 Allowable FAR: 3400+BELOW FAR: Taxes: 13,011.24 Tax Year: 2006 Transfer Tax: Yes List Price Per/Acre: 12,878,787.88 Payment Par: Special TBD Assessments: Legal: Wagar/Detweiler Lot 1 Public Remarks: VESTED BUILDING RIGHTS! Two -level lot ideal for valk out, Views from Aspen Mt o Mt Sopris, and Smuggler M! In your back yard! 14,000+ Sq. Ft, lot for sale within CITY LIMITS,ivalkIng distance to town, awesome views, fully landscaped, Irrigated, FAR 3400 plus below grade. Directions: On Park Circle above Smuggler Racquet Club. Short Sale: REO: Access: Agency: Exclsv Right to Sell Crops: Documents on File: Survey Disclosures: Sir Licensed RE Agnt Electric; Yes Extras;• Gas; HOA Amenities: HOA Fee Includes: Lot Description: Mineral Rights: Possession: DOD Possible Use: Member Association: Aspen Association Sold Price: 4,105,000 Sold Date: 04/10/2008 How Sold: Cash DOM; 611 Original List Price: 4,200,009 � AO ego., p coy' ZGU B 05X•Y 4 p r-1Gk Main St 0. Ste 202 S CID 00) <* flap Aspen, CO 81611 t` t I4liyyfin�rT�at�iit;iil I !dli� 970.920.5160 lee ctu.es\:\ i ` 1i�,1 Shh Larry Fite Larry Fite '\W506 E Mai Sign: Yes Showing instructions: Cali Listing Office Sanitation: Terms Offered: Cash Water Rights: Water: City ADOM: 611 Information is deemed to be reliable, but Is not guaranteed. 02010 MIS and [WI. a. Prepared by Larry File on Thursday, March 11, 2010 1:26 PM The Information on this sheet has been made available by the MIS and may not be the listing of the provider. Blip:/fags.flexinls.conilcgi-binhiiainmenu.cgi 3/11/2010 1'6 flexmls Web + MLS # Status - 94800 Expired + Status + Price Change + Price Change + Price Change + Price Change + New - 97996 Closed + Status + Selling Office + Price Change + New SV \* Price $4,500,000 $4,500,000 $4,500,000 $4,350,000 $3,690,000 $3,990,000 $4,500,000 $4,105, 000 $4,250,000 $4,250,000 $4,250,000 $4,200,000 Page 3 of 5 % Change Date ADOM Address 9.6% 05/16/2008 366 517 Park Circle 05/15/2008 3.4% 12/13/2006 17.9% 12/04/2006 -7,5% 10/10/2006 -11.3% 09/23/2006 08/08/2006 04111/2008 611 517 Park Circle 04/11/2008 04/10/2008 1.2% 04/27/2007 08/08/2006 http://ags.flexmis.corn/cgi-bin/inainmentLcgi 3/11/2010 tlt flexmis Web Prima Photo Additional Photo Additional Photo http://ags.flexmis.com/cgi-bin/mainmentt.egi Additional Photo Additional Photo Additional Photo Page 4of5 3/11/2010 flexmls Web Additional Photo Additional Photo Additional Photo Page 5 of 5 http://ags.flexmis.com/cgi-bin/mainmenti.cgi 3/11/2010 1 is PITKIN COUNTY ASSESSOR 506 East Main Street, Suite 202 Aspen, CO 81611 Phone (970) 920-5160 Fax (970) 920-5174 W '2008 VALUATION FOR ASSESSMENT STIPULATION TAXPAYER: Aev•orl E'u;y Tau. SCHEDULE NUMBER: F) 016 "Uh PROPERTY DESCRIPTION: / " l/)Vf! 1 por), 6- The Pitkin County Assessor and the above mentioned Taxpayer stipulate to the value noted • below for the 2008 Valuation of Assessment of the noted property. STIPULATED VALUE: $ ,461 DO, a0o iUp Taxpayer Assessor C -/q --(o Date b!(4Ao five Date diar6e) PETITION FOR ABATEMENT OR REFUND OF TAXES County: Pilkin Dale Received (Use Assessor's or Conuriss oners' Date Stamp) Section I; Petitioner, please complete Section I only. Dale: 12.20•2009 Month Day Year Petitioner's Name: Jun Schwalls & Associates, Inc. as Agent forAARON 2002 FAMILY TRUST Petitioner's Mailing Address: P.O. Box 3077 McKinney, TX 75070 City or Town Stale Zip Code SCHEDULE OR PARCEL NUMBER($) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY R016765 MOORE FAMILY PUD Black: O Lot 1 Petitioner states that the taxes assessed against the above property for properly lax year(s) 2007 and 2008 are incorrect for the following reasons: (Briefly describe the circumstances surrounding the incorrect value or lex. Attach additional sheets if necessary.) The current value appears to exceed the correct actual value as of the statutory base year lime period, The current value is significantly higher than the October, 2003 purchase price. Petitioner's estimate of value: $ 2,300,000 (2007 ) and $ 2,300,000 (2008 Varue Year Value Year Petitioner requests an abatement or refund of the appropriate taxes. i declare, under penalty of perjury in the second degree, that this petition, together with any accompanying exhibits or statements, has been prepared or examined by me, and la the best of my knowledge, information and belief, is true, correct. and complete. By f Petttoner's 51 nature Agent's Stan atura' 'Letter of agency must be attached when petition Is submitted by an agent. If the board of county commissioners, pursuant to section 39.10.1141(1), or the property tax administrator, pursuant to section 39-2-118, 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 section 39.2.126 within thirty days of the entry of any such decision, § 39.10.11b.6(f), C.R.S. Daytime Phone Number f 1 Daytime Phone Number f 20/11 l `f 'rf '-Z 8&otierik Assessor's Recommendation (ForAasussor's die aniy) r' Tax Ysar, j,UO Tax Year Actual ��� Assessedt 70E Actual Assessed as Original LI/(I ° 'ff'l 2 ge Vet) Corrected G� tllt<li,! c.X() edit e,) // AbsteiRefund t -t "t'„ D Assessor recommends approval as outlined above. No protest was filed for the year(s): or (If a protestwas riled. please attach a copy of the NOM) CO Assessor recommends dental for the following reason(s)s `TissessorTe putyresesso gi cure 15-OPT-AR Ho, 820-66r06 JAty U b'LOU Pitkln County ACAD. 0n 3Or. �I FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY (Section HI rite on IV must be completed) Every petition for abatement or refund tiled pursuant 10 section 39-10-114 shall be tided upon pursuaM to the provisions of This section by he board of county commissioners or the assessor. es appropriate, within six months of the data ailing such petition, § 39-1.113(1,7), C.R.S, Section III Written Mutual Agreement of Assessor and Petitioner (Only for abatements up to $1,000) The commissioners of County authorize the assessor by Resolution No. to review petitions for abatement or refund and to settle by written mutual agreement any such petition or abatement or refund In an amount of one thousand dollars or less per tract, parcel, or lot of land or per schedule of personal property, in accordance with § 39-1.113(1.5), C.R.S. The assessor and petitioner mutually agree to the values and tax abatement/refund of: Tex Year Tax Year Athol A a Ls Actual Assessed I111 0riginal Corrected Abate/Refund Note: The total tax amount does not Include accrued Interest, penalties, end fees associated veldt late and/ordetlnquenl Lax payments, ti applicable. Please contact the county treasurer for full payment Information. Petitioners Signature Assessors or Deputy raSignature Date Date Section IV: Decision of the County Commissioners (Must be completed 1f Section Ile does not apply) WHEREAS, The County Commissioners of called regular meeting held on / / , at which meeting there were present the following members: Month Day `leer with notice of such meeting and an opportunity to be present having been given to the taxpayer and the Assessor of saki County and Assessor (being present —not present) and Name petitioner (being present —not present), and WHEREAS, The said Name County Commissioners have carefully considered the within petition, and are fully advised In relation thereto, NOW BE IT RESOLVED, That the Board (agrees —does not agree) with (he recommendation of the assessor and the petition be (approved --approved In part —dented) with en abatement/refund as (allays: Year Assessed Value TaxesAbale$Rerund Year AssessedVekra TaxesAbate/Refund Chairperson of the Board of County Commisatonarsr Signature County Clerk and Ex-officio Clerk of the Board of County Commissioners in and for the aforementioned county, do hereby certify that the above and foregoing order is Truly copied from the record of the proceedings of the Board of County Commissioners. IN WITNESS WHEREOF, 1 have hereunto set my hand end affixed the seat of said County this day of Month Year County Clerk's or Deputy County Clerk's Signature Note: Abatements greater than Si ,000 per schedule, per yeer, must be submitted In dupileate to the Propeny Tax Administrator for review. Section V; County, State of Colorado, at a duly and Iavrfutiy Action of the Property Tax Administrator (For all abatements greater than $1,000) The action of the Board of County Commissioners, relative t0 the within petition, Is hereby 0 Approved ❑ Approved In part S ❑ Denied for the following reason(s): Secretary's Signature Property Tex Administrator's Signature Data 16-OPT-AR No. e20-ee/00 JI. U ti �dW Pltkin Counts Assessor JANV U b Yd1U Pltkln Cour :. At1&H8�^ KNOW ALL PERSONS BY THESE PRESENTS: Aaron 2002 Family Trust does hereby constitute and appoint JIiVI SCEWALLS & ASSOCIATES, INC, and it's ngents and employees, as it's authorized representative for Ad Valorem tax matters, for it and In Ws name, pince and stead, to perform In the Stnto of Colorado, County of Pitidn any or all of the following, at or for the property Identified as Account Numbers R016765 and R016766. To obtain corrections and refunds, to file and prosecute protests and appeals from any assessment or assessments, and to make appearances in connection therewith before any and all officials and Boards, including but not limited to assessors and all reviewing authorities having jurisdiction pertaining to Ad Valorem taxation matters or other matters related thereto, This authorization is expressly limited as set forth above for the 2007 & 2008 Tax Years . This authorization is granted subject to written revocation by owners, partners, or officers of the granting entity. M WITNESS WHEREOF, Aaron 2002 Family Trust has caused these presents to be signed, Authorized by: Print Name Signature: Title; C,okirizo G i� Date: : D.e ember 31, 2009 Authorized Agent: Jim Schwaiis & Associates, Inc. P. O. Box 3075 McKinney, TX 75070 Phone (214) 544.9300 ,._X „. __ Agent Is authorized to receive all correspondence regarding this protest. lck Appraiser Recommendation for Abatement Assessor Generated ❑ Taxpayer Generated Wit To: Tom Isaac, Pitkin County Assessor From: Wendy Schultz Date: 1 /14/10 Petitioner: Aaron 2002 Family Trust LLC Schedule #: R016765 Parcel #: 273514111101 The appraiser has completed a review of the referenced property, as of this date, and hereby submits a recommendation as stated below: Er Deny ❑ Approve as Submitted ❑ Abatement/Refund Different than requested Abatement for Year: 2008 Data collection period 7/1/04 — for year #1: 6/30/06 Assessment Rate: 29% Tax Area: 087 Mill Levy: 42.212 Actual Value thls year: 2,900,000 New Value: 2,900,000 Assessed Value Tax Amount Original value: $841,000 $ Corrected value: $841,000 $ Refund: $0 $ i Abatement for Year: Data collection period for year #2: Assessment Rate: Tax Area: ,Mill Levy: Actual Value this year: New Value: Assessed Value Tax Amount Original value: $ $ Corrected value: $ $ Refund: $ $ The basis of this recommendation is: The property was protested in 2007 thus an abatement cannot be done for that year. This abatement is for 2008 only. The petitioner provides no information on why they believe their value should be $2,300,000 for 2008. I looked over 2 comparables in their immediate neighborhood and determined that $2,900,000 set on their vacant property was valued correctly. Chief Appraiser Approval: Assessor Approval: 2� § �$ PTTKIN COUNTY ASSESSORS OFFICE Aaron 2002 Family Trust ITEM SUBJECT COMPARABLE 1 COMPARABLE 2 SCHEDULE # 16765 E 16776 16769 Address Powderbowi 37 Five Trees 991 Moore Proximity to Subj. - Sales Price !$ 2,900,000 $ 2,900,000 ( $ 3,520,781 $ 3,520,781 Price!SF/Abv.Grade i __._ , ALUEADJUSTMENTS DESCRIPTION _DESCRIPTION _ ADJ. (DESCRIPTION ._L ADJ. DATE OF SALE - A 106/07/06 I- 11/04/04 - LOCATION Moore Family PUD Moore Family PUD Moore Family PUD t i SITE 5121= 2.427 acres 1 0.834 acres I $ 1.266 acres I $ - Very good views over the 1 V1EWS nbad; ski access I Comparable views $ _ Comparable views I $ - (TOPOGRAPHY Gently sloping; treed Comparable ($ - € Comparable I $ - \ 4.0 :: y� !INDICATED VALUE $2,900,000 ) $ 2,900,000 I $ 2,520,781 1 \: r n x ESTIMATED MARKET VALUE AS OF JUNE 30, 2006: $2,900,000 I (same value for 2007 & 2008 tax years) (2007 was already protested so this document is only for 2008) _: _ # \ ..: i � . "8 . . . . /lw Ei .» 0 t k j .. \� 2 S PITKIN COUNTY ASSESSOR 506 East Main Street, Sufte 202 Aspen, CO 81611 Phone (970) 920-5160 Fax (970) 920-5174 2008 VALUATION FOR ASSESSMENT STIPULATION TAXPAYER: PY&n p�© �AM I l`Z.' SCHEDULE NUMBER: 0 )111%6/O PROPERTY DESCRIPTION: &Ore ;M; I 'PIM t-0 2 6)a4-Z6 The Pitkin County Assessor and the above mentioned Taxpayer stipulate to the value noted below for the 2008 Valuation of Assessment of the noted property. STIPULATED VALUE: Taxpayer $ a, 559,E C'tet-10 Date OH 1 Assesso presentative Date PETITION FOR ABATEMENT OR REFUND OF TAXES County:Pilkrn Date Received (use Assessofs or Comnils:loners' Date Stamp) Section I; Petitioner, please complete Section I only. Dale: 12-29 2009 Month Day Year Petitioner's Name: Jim SchwaIle &Associates, Inc. as Agent for AARON 2002 FAMILY TRUST Petitioner's Mailing Address: P.O. Box 3077 McKinney, TX 75070 City or Town Slate 210 Coda SCHEDULE OR PARCEL NUMBERS) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY .R016768 15 FALCON RD ASPEN Petitioner states that the taxes assessed against the above property for property fax year(s) 2007 and 2008 are Incorrect for the following reasons: (Briefly describe the circumstances surrounding the incorrect value or tax. Attach additional sheets if necessary.) The current value appears to exceed the correct actual value as of the statutory base year lime period. The current value Is significantly higher than the August, 2003 purchase price. Petitioner's estimate of value: $ 7,000,000 (2007 ) and $ 7,000,000 (2008 ) Value Year Value Year Petitioner requests an abatement or refund of the appropriate taxes. I declare, under penalty of perjury in the second degree, that this petition, together with any accompanying exhibits or statements, hes been prepared or examined by me, and to the best of my knowledge, information and belief, Is he, Correct, and complete. ' Daytime Phone Number f 1 Petitioner's elgnafpn gy ALL/. ���V��/dC. Apnl'a Signature Daytime Phone Number I Z/`#) ' «9 1? Metter of agency must be attached whin pillion is subminod by an sgtnt. If the board of county commissioners, pursuant to section 39.10.114(1), or the property tax administrator, pursuant to section 39-2-116, 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 section 392-125 within thirty days of the entry of any such decision, § 39.10.114.6(1), C.R.S. ?aa3 et.l'Y_-t'1 JAIV 0 8 21110 Pltkin County Assessor Section II: Origins! p, �y,�� p ' Corseted ti, :/�Ge�G/ 7 tDo 5 4 (� r -r AbatNRefund •l: 179t48 Assessor's Recommendation (For Assassin's Use Only) Tex Year 1453 Tax Year AStul1 Assessed DA 61.111114 I!X ` $' I, a1V 101340 /33/%7;c) rroisessor recommends approval as outlined above. No protest was flied for the year(s): Or Of a protest was filed, please attach a copy of th , ' D. (]Assessor recommends denial for the following reason(s): h/J Assessor's or spy sa so a - gn&iu 16.DPT-AR No.920.68re8 FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY (Section NI 4! Section IV must be completed) Every petition for abatement or refund filed pursuant to section 39.10.I 14 shall be acted upon pursuant to the provisions of this section by the board of county corrurlssionere or the assessor, as appropriate, within six months of the date of BEng such petition. § 39.1.113(1.7). C.n.S. §ectIon iif; Written Mutual Agreement of Assessor and Petitioner (Only for abatements up to $1,000) The commissioners of County authorize the assessor by Resolution No. to review petitions for abatement or refund and to sellle by written mutual agreement any such petition for abatement or refund in an amount of one thousand dollars 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 tho values and tax abatement/refund of: Tax Year Tax Year Mat Assessed In Actual Assessed DA Original Corrected AbateiRefund itch: The total lax amount does not Include accrued interest penalties. and fees assodated with tate and/or delinquent tax payments. tf oppkebte. Please contact ate county treasurer for am payment tnrorma0on. Petitioner's Signature A r'sorDeputy A r'sSignature Date Date Section IV; Decision of the County Commissioners (Must be completed I/Section Ili does not apply) WHEREAS, The County Commissioners of called regular meeting held on / / at which meeting there were present the following members: Month Day Year County, State of Colorado, at a duly and lawfully with notice of such meeting and an opportunity to be present having been given to the taxpayer and the Assessor of said County and Assessor (being present —not present) and Nanw petitioner (being present --not present), and WHEREAS, The said Name County Commissioners have carefully considered the within petition, and are fully advised In relation thereto, NOW BE IT RESOLVED. That the Board (agrees —does not agree) w th the recommendation of the assessor and the petition be (approved —approved In part••denfec)1Nth en abalementlrefund as follows: Year Assessed Value TaxesAbatenetund Year Assessed Value TaxesAbalektefund Chairperson of lhs Board or County Commissioners' Sign tlure I, County Clerk and Ex•oflclo Clerk of the Board of County Commissioners in and for the aforementioned county, do hereby certify That the above end foregoing order Is truly copied from the record of the proceedings of the Board of County Commissioners. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County this day of Month Year County Clerk's or Deputy County Clerks Signature Note: Abatements greater than 51,000 per schedule, per year, must be submitted In duplicate to the Property Tax Administ etor for review. Section V: Action of the Property Tax Administrator (For all abatements greater than $1,000) The action of the Board of County Commissioners, relative to the within petition. Is hereby ❑ Approved D Approved in pert S ❑ Denied (or (he following reason(s): Seaelary's Signature Property Tax Administrator's Signature Date t&OPT•M No.010418/08 • JAN 06 ZOO Rusin Court" Assesso. �. 1 JAN 0 b 1.UW Pttkin Cote". ASSetattl KNOW ALL PERSONS BY TEES PRESENTS: Aaron 2002 Fondly Trust does hereby constitute and nppoint JIM SCEWALLS & ASSOCIATES, INC. anti It's agents and employees, as It's authorized representative for Ad Valorem tnx mattors, for it and In Ws name, place and steed, to perform to the State of Colorado, County of Pitidn any or all of the following, at or for the property Identified as Account Numbers R016765 and 11016766. To obtain corrections and refunds, to file and prosecute protests and appeals from any assessment or assessments, and to make appearances in connection therewith before any and all officials and Boords, including but not limited to assessors and all reviewing authorities having jurisdiction pertaining to Ad Vnlorern taxation matters or other matters related thereto. This authorization is expressly limited as set forth above for the 2007 & 2008 Tax Years. This nuthorization is granted subject to written revocation by owners, partners, or officers of the granting entity. IN WITNESS WHEREOF, Anion 2002 Family Trust has caused these presents to be signed. Authorized by: /94-RS. 50eletrue.S Print Name Signature:s��� eoRlr/zA Date: : December 31, 2009 Authorized Agent: Jim Sehwalls & Associates, inc. P. O. Box 3075 McKinney, TX 75070 Kona (214) 544-9300 XXX Agent is authorized to receive all correspondence regarding this protest. JIM SCHWALLS & ASSOCIATES, INC. NATIONAL PROPERTY Ti\X CONSULTANTS Jim Schwalls, Chit Rowland Welch, Gill Dane Taylor December 30, 2009 Certified Mail it: 7008 1140 0004 2583 9723 Assessor for Pitken County 506 F. Main St., #202 Aspen, CO S161 RE: 2007 and 2008 Tax Year Filing Petition for Abatement Dear Sir or Madam: 115 E. Virginia, Suite 201 McKinney, TX 75069 Post Office Box 3075 McKinney, TX 75070 Phone (214) 544-9300 Fax (214) 5449301 JAN 0 0 4010 Min Count AtyfiOMIOr Please find enclosed our completed form as described above which is being filed by Jim Schwalls <<: Associates, Inc., on behatf olour client. A complete list of the accounts is shown below. AGENCY ACCOUNT NUMBER JSA FILE. NUMBER �� *tit t i — 13 FaLon Rd Aspen 2000.0S35-0001 0167 65 — th ore Family PUl7 Block G Lot 1 Rt 2000-0835-0002 Should you have any questions regarding this appeal, please contact me at (214) 544-9220. Alter your ufliee has had the opportunity to review and verity that the form received matches that listed, please sign the bottom of this letter and return via facsimile to Jim Sehwalls & Associates, Inc. at (214) 544-9301. Very truly yours, JIM SCI RVALLS AND ASSOCIATES, INC Rowland Welch R\V/ttttb Enclosure ** * *$ * k****$,F****4e+i,#,a?f3+i 0***8,*****tF:4#i,lR#,*************s: *4****#at#•*, Please complete the following information and fax to (972) 544-9.391. On belie] l of the Assessor, Appraiser or Taxing Agency listed above, 1 rrekno wledee receipt of the form described above, for the account numbers listed on this page and attachments. 13y:: * *4. *#*a* 4a4.44,Ar Ada***4.# **,s 8'**. Date: �t.,4:0* **iiii3O***pk**.i)* 4 4�tz.:R4 Appraiser Recommendation for Abatement Assessor Generated ❑ Taxpayer Generated ❑ To: Tom Isaac, Pitkin County Assessor From: Wendy Schultz Date: 6/17/10 Petitioner: Aaron 2002 Family Trust LLC Schedule #: R016766 Parcel #: 273514111102 The appraiser has completed a review of the referenced property, as of this date, and hereby submits a recommendation as stated below: ❑ Deny ❑ Approve as Submitted IX Abatement/Refund Different than requested Abatement for Year: 2008 Data collection period 7/1/04 — for year #1: 6/30/06 Assessment Rate: 7.96% Tax Area: 087 Mill Levy: 42.212 Actual Value this year: 9,550,000 Assessed Value Tax Amount Original value: $783,360 $33,067.20 Corrected value: $760,180 $32,088.72 $ 978.48 Refund: The basis of this recommendation is: Abatement for Year: Data collection period for year #2: Assessment Rate: Tax Area: Mill Levy: Actual Value this year: New Value: Assessed Value Tax Amount Original value: Corrected value: $ Refund: The property was protested in 2007 thus an abatement petition cannot be done for that year. This abatement is for 2008 only. The petitioner provides no information on why they believe their value should be $7,000,000 for 2008. I looked over 3 comparables In their neighborhood and recommend a new value of $9,550,000 for the 2008 tax -year. PITKIN COUNTY ASSESSORS OFFICE Aaron 2002 Family Trust ITEM I SUBJECT 1 COMPARABLE 1 COMPARABLE 2 I COMPARABLE 3 SCHEDULE # 1676616784 16777 13846 'Proximity to Subj. - NO Q i , ! V^ tl , , ' $ 987,343 $10.504,5431 (2007 was already protested so this document is only for 2008) S 0 69 0fi, 69 69 lli 69, VT 64 S [DATE OF SALE - 05/27/06 - I 01/13/06 - 09/06/05 Moore Family PUD Moore Family PUD Moore Family PUD / Wiltrout Family LOCATION/VIEWS / very good views / good views $ 6$0,000 . very good views $ - Partnership • ACTUAL YEAR BUILT 2001 — 2005 $ - 2002 3 $ - 2003 [EFFECTIVE YR BUILT 2001 2005 EMIR 2003 I $ 2003 (FINISH BSMT Unfinished 315 1836 $ (507,254) 3894 I $(1,193,597)1 1176 QUALITY Excel T 13+ Excel T 13+ $ - Excel T-13+ $ - Excel T-13+ GARAGE/CARPRT 704 sf 852 sf I $ 825 sf $ - 807 sf [NET ADJ. (TOTAL.) 4 —,- 539,611 $ (377,856) INDICATED VALUE $ 9,524,411 I $ 9,546,699 [ESTIMATED MARKET VALUE AS OF JUNE 30, 2006: $ 9,841,200 (same value for 2007 & 2008 tax years) O N 05 69 3 ; tp cor CD &' 69 69 0 M a ato N t!? O ' CO 8 00 co 0 y 13 a C? B in r u 8 W s 1 i ce Cd LIJ PETITION FOR ABATEMENT OR REFUND OF TAXES County:f llkin Date Received (Use Assessor's or Comm ssionere Dale Stamp) Section I; Petitioner, please complete Section I only. Date: October 10, 2009 Month Day Year Petitioner's Name: Warren Oak, LLC Petitioner's Marling Address: 595 South Oroadway #200 Denver, CO 80209 City or Town Stale Zip Code so -null OR PARCEL. NUMBER(S) PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY R004174 j 521 McSktmming Road R004173 Skimming Lena Petitioner states that the taxes assessed against the above property for property tax year(s) 2007 and 2008 are incorrect for the following reasons: (Briefly describe the circumstances surrounding the incorrect value or tax. Attach additional sheets if necessary.) See Exhibit 1 attached hereto and made an integral part hereof. Petitioner's estimate of value: $ 1,230,000 (2007 ) and $1,230,000 (2008 ) Value Year Value Year Petitioner requests an abatement or refund of the appropriate taxes. 1 declare, under penalty of perjury in the second degree, that This petition. together with any accompanying exhibits or statements, has been prepared or examined by me, and to the best of my knowledge, information and belief, Is true, correct, and complete. Daytime Phone Number' ) Daytime Phone Number 1 Bo l )151- 1,' (p5 Agent's Sign al re B ep.tr a- 61111,4 "*. 1ARtt Ntee e"%1 Oro +�1 ��x r�eciD-iiS'};S'r CAC 'Lot er of agency must be attached when petition is submitted by an agent t S f If the board of county commissioners, pursuant to section 30.10.114(1), or the property tax administrator, pursuant to section 39.2.116, 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 section 38-2-125 within thirty days of the entry of any such docislon, § 39.10-114.6(1), C.R.S. OCTRECEIVED 19 2009 r-whin County Section ii Assessor's Recommendation (For Assessor's Use Only) Tax Year x07 Tex Year (0') AIM Assessed III AslisLi Assessed Tel Original .Zt`lrlr ,j 0v :� 1 a ,Y I lo, I Z J4'�' 7 Corrected 17 g1 it i i00 ) J 2,(04,1o6 i )ilr 11) Abele/Rotund 0 Assessor recommends approval as outlined above. No protest was filed for the year(s): or Of protestwas111 ., p e , eh a Copy of the NOD.) Assessor recommends dental for the following reason(s): Sasso r Deputy s,es o s - gnitura 16OPT.AR No. 820-66106 7)0 FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY (aecean Is II Section IV must be completed) Every petition for abatement or refund fled pursuant to section 39-10.114 shell be acted upon pursuant to the provisions of this section by the board of county commissioners orthe assessor. as appropriate. within six menthe of the dell of Ming such peltilon, 9 39-1-113(1.7), C.R.S. Section III: Written Mutual Agreement of Assessor and Petitioner (Only For abatements up to $l,00o} 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 o� r abatement or refund In an amount of one thousand dollars or less per tract, parcel, or lot of land or per schedule of personal property. In accordance with § 39-1-113(1.5), G.R.S. The assessor and petitioner mutually agree to the values and tax abatemenUrefund of: Original Corrected Abate/Refund Tax Yaar Tax Tier &tad Assseesd lax Actual - A 4 Iss Note: The total tex amount does not include accrued Interest, penalties, end fees associated vlth fate and/or dernquent tax payments,11 appicabte. Please contact the county treasurer for Nil payment information. Petitioner's Signature Assessor's or Deputy Assessor's Signature Date Dale Section IV: Decision of the County Commissioners (Must be completed If Section III does not apply) WHEREAS, The County Commissioners of County, Stale of Colorado, at a duly and iawft.y called regular meeting held on / i at which meeting there were present the following members: Month Day Year with notice of such meeting and en opportunity to be present having been given to the taxpayer and the Assessor of said County and Assessor Name petitioner (being presenf••notpresent), and WHEREAS, The said Name Courtly Commissioners have carefully considered the within petition, and are fully advised in relation thereto, NOW BE IT RESOLVED, That the Board (agrees --does not agree) with the recommendation of the assessor and the petition be (approved --approved in part --denied) with an abatement/refund as follows: (being present..notpresent and Year Assessed Value Taxes Abate/Refund Year Assessed Value Taxes Abate/Refund Chairperson of the Board af County Commiesloners' Signature I, County Clerk and Ex officto Clerk of the Board of County Commissioners in and for the aforementioned county do hereby certify that the above and foregoing order Is Iruy copied from the record of the proceedings of the Board of County Commissoners. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County this day of Month Yaar County Clerk's or Deputy County Clerk's Signature Note: Abatements greater then S1,000 per schedule, per year, must be suhmtted in duplicate to the Property Tax Adminisirelor for review. • Section V: Action of the Property Tax Administrator (For ail abatements grsalerthen $1,000) The action of the Board of County Commissioners, relative to the within petition, Is hereby 0 Approved ❑ Approved in part S ❑ Denied for the following reason(s): Secretor/8 Signature Properly Tax Adminisvelors Signature Dale 15-0PT•AR No.920-e0106 7,1 PROPERTY TAX SPECIALISTS, INC October 16, 2009 Pitkin County Board of County Commissioners c/o Mr. Tom Isaac Pitkin County Assessor 506 East Main Street Suite 202 Aspen, Colorado 81611 930 8, (:harry Streit, Suite 320 Deriver, CO 802413 O f riCe: 3.7 i 7-88(33 FnX: 303.757-7091 wVW,Sieriingpropc^rrylaxspCCtallsis.com RE: McSkirming Road (Schedule Nos. R004174 and R004173) (the "Property") Gentlemen: PETITIONER'S EXHIBIT 1 The undersigned, Sterling Property Tax Specialists, Inc., represents the owner of the Property for the purpose of filing an abatement for the 2007 and 2008 Valuation. A copy of the Letter of Authorization is attached hereto and made an integral part hereof. The Property consists of a residential hone consisting of approximately 3,200 sq. ft. built In 1959, and a separate schedule number, which is an adjoining parcel as part of the house. The house and excess land were acquired during the two year study period on September 21, 2004 for total purchase price of $866,666.66. This base year purchase price includes both the excess land and house. During the base period, as well as on January 1, 2007 and January 1, 2008, no additional development was allowed for Schedule No. R004173, This parcel should be considered part of the overall residence at 521 McSkimming Road, and classified as residential also for the purpose of this abatement as it has no separate development potential. Applying a 2% per month upward adjustment to the base year purchase price results in a value for both properties at S1,230,000 (rounded). If a separate allocation is made to the assessor's Schedule No. R004173, it should bear a residential rate and value of no greater than S100,000 of this total for excess land. The house is over 50 years old and has significant obsolescence and deferred maintenance. Based upon the time adjusted value of the subject sale, Petitioner hereby request the Board approve its abatement based on an overall value for the two schedule numbers of S1,230,000. McSkimming Road Page 2 All information contained herein should be considered confidential and not available to any third parties. Respectfully submitted, STERLING PROPERTY TAX SPECIALISTS, INC. By: Barry J. Goldstein, President Sep 29 09 08:48p Warren Cohen 9 i....259054 p.3 LETTER OF AUTHORIZATION September 28, 2009 Sterling Property Tax Specialists, Inc. 950 South Cheny Street, Suite 320 Denver, Colorado 80246 RE: 2007 and 2008 Property Tax Assessment Matters Gentlemen: The undersigned, as owner(s) of property located in Pitkin County, Colorado, at 521 McSlimming Road, and more particularly described an Assessor's Notice of Valuation, Schedule No(s). See Attached hereby authorizes Sterling Property Tax Specialists, Inc. and Barry I. Goldstein, Esq., to act as agent on my behalf regarding all 2007 and 2008 property tax assessment matters, and obtain any and all documents relating thereto and file any protests necessary. This Authorization shall be effective as of the date set forth above. Warren Oak LLC By: Name: MIix ..etb4 C)\ . Title: Telephone: 303-733-2455 VA Warren Oak, LLC 2007-2008 R004173. R004174 ‘5S Appraiser Recommendation for Abatement Assessor Generated EY Taxpayer Generated Lk! To: Tom Isaac, Pitkin County Assessor From: Wendy Schultz Date: 1/13/10 Petitioner: Warren Oak LLG Schedule #: R004174 Parcel #: 273718100005 The appraiser has completed a review of the referenced property, as of this date, and hereby submits a recommendation as stated below: fi6 Deny Approve as Submitted Q Abatement/Refund Different than requested Abatement for Year: 2008 Abatement for Year: 2007 Data collection period for year #2: 7/1/04 - 6/30/06 Data collection period for year #1: 7/1/04 — 6/30/06 Assessment Rate: 7.96% Assessment Rate: 7.96% Tax Area: 056 Tax Area: 056 Mill Levy: 30.701 Mill Levy: 29.667 Actual Value this year: 2,994,100 Actual Value this year: 2,994,100 New Value: 2,994,100 New Value: 2,994,100 Assessed Value Tax Amount Assessed Value Tax Amount 0rlginal value: $238,330 $ Original value: $238,330 $ Corrected value: $238,330 $ Corrected value: $238,330 $ Refund: $0 $0 Refund: $0 $0 The basis of this recommendation is: The house is an older 60s-style home with outdated features however, there were permits taken out in 2004 to make some upgrades to the home including reconfiguring some rooms, adding a bathroom, remodeling the kitchen, and more. This Increased the effective age. The kitchen now has stainless steel appliances, new counters, new tile backsplash, and new cabinets with the old ceramic tile flooring. The comparables used are all older style homes as well with similar quality ratings. The subject has superior views than all of the comparables since it is located higher up on the mountain with more privacy. The range of the adjusted values is $2,898,600 to $3,767,300, The subject is in this range and therefore, our value of $2,994,100 is fully supported for tax years 2007 and 2008. Chief Appraiser Approval: Assessor Approval: 3b PITKIN COUNTY ASSESSORS OFFICE Warren Oak LLC ITEM " SUBJECT COMPARABLE 1 COMPARABLE 2 COMPARABLE 3 COMPARABLE 4 1 11) vo lAddre= 521 Mcskimming 452 McSkimming ; 267 McSkirnming 602 Mountain Laurel I 267 Roaring Fork 1 [Proximity to Subj. Sales Price = $ 3,151,860 ; $3,151,860 I 3,792,500 $3,792,500 $ 2,246,200 ; $2,246,200 $ 2,895,2401 $2,895,240 , f2 tu IDATE OF SALE 04/01/05 - 06/28/06 05/16/06 03/16/06 Aspen Grove! Aspen Grove ; Mountain Valley / Knollwood / Aspen Grove / inferior views & inferior views & inferior views & inferior views & FLOCATIONNIEVIiS very good views location $ 200,000 location $ 200,000 iocation $ 790,900 ; location $ 450,000 isrrE sizE 3.4 acres 16100 sf ; 19800 sf - 18717 sf 1 - 15400 sf - 1 !ACTUAL YEAR BUILT 1960 1965 $ - ; 1980 - 1972 $ ; 1969 1 $ !EFFECTIVE YR BUILT 1980 1992 ; $ (225,000) 1985 1985 -; $ - 1985 $ lUVE AREA 3540 2831 $ 169 451 3567 $ (6 453), 2824 $ 171.124 2885 $ 156,545 FINISH BSMT Unfinished 680 ; 360 $ 38,240_ 0 $ 81,260 0 $ 81260 ; 0 $ 81,260 IQUAUTY ; Good T-12 - VG T-12+ $ (300,000); VG T-12+ 1 $ (300• 000) VG T-12+ $ (300.000)1 Good T-12 ; $ - % "- GARAGE/CARPRT Carport 774 sf Finfdetached 500 st 576 sf $ - 425 sf - ; 504 sf $ !NET ADJ. (TOTAL) $ (117,309)' $ (25,193) 652, 384 ; $ 687,805 !INDICATED- VALUE ; $3.034,551 ! i $3,767,307 j I $2.898,584 ; ; $3,583,045 !ESTIMATED MARKET VALUE AS OF JUNE 30, 2006: 1 $2,994,100 ! same value for 2007 & 2008 tax years „,— I" The subject had permits out in 2004 to reconfigure some rooms, add a bathroom, remodel the kitchen, etc.; ..... Co .„. 0 P .4. 1.0 F 1 o JO' '‘\ "C^;•,i,fr 1U PETITION FOR ABATEMENT OR REFUND OF TAXES County: Pilkin Date Received (Uso As*essnes of Crrrvtsssioness' Dee Stamp Section is Petitioner, please complete Section i only. Date: October 10, 2009` Month Day Yeer Petitioner's Name: Warren Oak, LLC Petitioner's Mailing Address: 595 South Broadway 0200 Denver, CO 00209 City or Tosw State SCHEDULE OR PARCEL NUMBER(S) R0041Z4 Zip Code PROPERTY ADDRESS OR LEGAL DESCRIPTION OF PROPERTY 521 McSktmming Road R004173 Skimming Lane Petitioner states that the taxes assessed against the above property for property tax year(s) 2007 and 2008 are incorrect for the following reasons: (Briefly describe the circumstances surrounding the Incorrect value or tax. Attach additional sheets If necessary.) See Exhibit 1 attached hereto and made an integral part hereof. Petitioner's estimate of value $ 1,230,000 (2007 ) and $ 1,230,000 (2008 Value Year Value Year Petitioner requests en abatement or refund of the appropriate taxes. I declare, under penalty of perjury in the second degree, that this petition, together with any accompanying exhibits or statements, has been prepared or examined by me, and to the best of my knowledge, information and belief, Is true, correct, and complete. P rtoner' ti7t. rs 7 Agent's Signature •fjptri 3•, 6ableAti-e.4vvCot s1t✓.t;n1 rep aril Tox She tutiltst CtrYG , 'Letter of agency must be attached when petition is submitted by an war. 1f the board of county commissioners, pursuant to section 39.10•114(1), or the property tax administrator, pursuant to section 39.2-11 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 section 39.2.125 within thirty days of the entry of any such decision, § 39-10-114.5(1), C.R.S. Daytime Phone Number ( ) Daytime Phone Number (SDI )"iS1-ii53(v5 REC?IVVJ OCT 19 2009 PillCIn County nor Section lit Original Corrected AbatefRefund Assessor's Recommendation (For Assessor's Use Only) Sax Year '1[b 1 Tax Year _� tJ)- Aaluat Assessed ?A mai Assessed (i ( 69f6C0 ` )1,Qri'`...) to(t9C109 '<tCOICCO Al coo 0 Assessor recommends approval as outlined above. No protest was filed for the year(s): dr Lire protest was flied, please attach a copyof the NOD,)` Assessor recommends denial for the following reason(s): ,l Assessor's or Deputy AssessoY4 9nature Y&DPT•AR No. 920-66/0e 1Il FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY IS action 1119f S•titan IV must be completed) Eveursuant to provisions is ction by tha board of mantitionly o raTdasionsrr or or abatement or the assessornd Sad , as appropriateent section , within six atud be acted months of the date al cling such peb7ion, § 39.1 1It3(1? .. C.R S. Section ut, Written Mutual Agreement of Assessor and Petitioner (Only for abatements up to St 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 -Wm — abatement or refund in an amount of one thousand dollars or lass 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 spree to the values and tax abatemenUrofund of: Tax Year Tax Year �{et^at Assasssd cwal Asssssed 31.s OrIglnal Corrected ..^ Abate/Rebind Nola: The total tax amount does not Include acaued interest, perudUes. and fees assodated YAM late andfor deimquent tax payments. If spptcade. Please contact the county treasurer for full payment lnformalion. Petitioner's Signature A raorDeputy AssasodsSignature bat, Dale Section IV: Decision of the County Commissioners (Must be completed If Section III does not apply) WHEREAS, The County Commissioners of County, State of Colorado, at a duly and lawfully called regular meeting held on / 1 , at which meeting there were present the following members: Manta Day Year with notice of such meeting and an opportunity to be present having been given to the taxpayer and the Assessor of said County and Assessor (being present —not present) and Name petitioner (being present —not present), and WHEREAS, The sold Name Courtly Commissioners have carefully considered the within petition, and are fully advised in relation thereto, NOW BE IT RESOLVED, That the Board (agrees —does not agree) with the recommendation of the assessor and the petition be (approved --approved In parh•denlert) with an abatement/refund as follows: Year Assessed Value Texas Abate/Refund Year Assessed Value Taxes Abate/Refund Chairperson of the Board of County Commissioners' Signature 1, County Clerk and Ex-officio Clerk of the Board of County Commissioners in and for the aforementioned county, do hereby certify that the above and foregoing order Is truly copied from the record of the proceedings of the Board of County Commissioners, IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County this day of Month Year County Clerk's or Deputy County Clerk's Signature Nola: Abatements greeter than $1,000 per schedule, per pier, must be submitted In duplicate to the Property TaxAdminiatrator for review. Section v: Action of the Property Tax Administrator (For Mt abatements greater than $1,000) The action of the Board of County Commissioners, relative to the within petition, Is hereby 0 Approved 0 Approved In part $ ❑ Denied for the following reason(s): Secretary's Signature Property Tax Administrator's Signature Date 16•DPT-AR No.920.55108 Amami wrra pa rma1 =ma. Pm Imp aaarAf par..- .i..... - art atti - ......5 ati tar Naar - t 11001111111111 tam OM aat as - I Mt *\wrWa r - OMB/ Mt Mat /r'�rw tad Nr Mill - era NNW I NM - Milli - •rrr.r. tar via. r•ma - tar Mtrgr 1111111011111W - - S MOM MIN aa! PROPERTY TAX SPECIALISTS, INC Dso S. Cherry Street, Suite 320 Denver, CO 80240 Office: 303-757-8865 Fax: 303-757.709 r www, steriingpropertytaxspeciailsts. com October 16, 2009 Pitkin County Board of County Commissioners c/a Mr. Tom Isaac Pitkin County Assessor 506 East Main Street Suite 202 Aspen, Colorado 81611 RE: McSkimming Road (Schedule Nos. R004174 and R004173) (the "Property") Gentlemen: PETMONER'S ir EXHIBIT The undersigned, Sterling Property Tax Specialists, Inc., represents the owner of the Property for the purpose of filing an abatement for the 2007 and 2008 Valuation. A copy of the Letter of Authorization is attached hereto and made an integral part hereof. The Property consists of a residential home consisting of approximately 3,200 sq. ft. built in 1959, and a separate schedule number, which Is an adjoining parcel as part of the house. The house and excess land were acquired during the two year study period on September 21, 2004 for total purchase price of $866,666.66, This base year purchase price includes both the excess land and house. During the base period, as well as on January 1, 2007 and January 1, 2008, no additional development was allowed for Schedule No. R004173. This parcel should be considered part of the • overall residence at 521 McSkimming Road, and classified as residential also for the purpose of this abatement as it has no separate development potential. Applying a 2% per month upward adjustment to the base year purchase price results In a value for bath properties at $1,230,000 (rounded). If a separate allocation is made to'the assessor's Schedule No. R004173, It should bear a residential rate and value of no greater than $100,000 of this total for excess land. The house Is over 50 years old and has significant obsolescence and deferred maintenance. Based upon the time adjusted value of the subject sale, Petitioner hereby request the Board approve Its abatement based on an overall value for the two schedule numbers of $1,230,000. Mc.Skimming Road Page 2 All information contained herein should be considered confidential and not available to any third parties. Respectfully submitted, STERLING PROPERTY TAX SPECIALISTS, INC. By: 9 dele1/46- Barry J. Goldstein, President Sep 29 09 08:48p Warren Cohen 8iu..._'59054 p,3 LETTER OF AUTHORIZATION September 28, 2009 Sterling Property Tax Specialists, Inc. 950 South Cherry Street, Suite 320 Denver, Colorado 80246 RE: 2007 and 2008 Property Tax Assessment Matters Gentlemen: The undersigned, as owner(s) of property located in Pit do County, Colorado, at 521 McSkimming Road, and more particularly described on Assessor's Notice of Valuation, Schedule No®. See Attached hereby authorizes Sterling Property Tax Specialists, Inc. and Barry J. Goldstein, Esq., to act as agent on my behalf regarding all 2007 and 2008 property tax assessment matters, and obtain any and all documents relating thereto and file any protests necessary. This Authorization shalt be effective as of the date set forth above. Warren Oak LLC By: Name: Title; 1AX£ r M C Telephone: 303-753-245 5 4s