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HomeMy WebLinkAboutbocc.res.084.202012cso dill. 08t1- ZO'ZO PETITION FOR ABATEMENT OR REFUND OF TAXES RECEIVED County: Pitkin _ Date Received MAY 29 2029 (Use As lessors or Commissioners' Date Sfiamp) Seen®it I: PetltEon+3r, please complete Section I only. NTKIN COUNTY ASSEsSOR Date: 5 27 2020 Month Day Year Q Petitioner's Name: SIL.VERTREE PROPCO LLC Petitioner's Mailing Address: CIO Starwood Capital Group Global LLP, 400 Galleria Parkway SE, Suite 1450 Atlanta GA 30339 City or Tawe State Tip Code SCHEDULE OR PARCEL NUMBERtS) PROPERTY ADDRESS OR LE13AL DESCRIPTION OF PROPERTY 800307 40 Elbert Latta, Snowmass Village, CO 81615 Petitioner requests an abatement or refund of the appropriate taxes and states that the taxes assessed against the above property for the property tax year 2019 are Incorrect for the following reasons: (Briefly describe why the taxes have been levied erroneously or illegally, whether due to erroneous valuation, irregularity in levying, clerical error, or overv&ivation. Attach additional sheets if necessary.) Value too high based on an income approach to value utilizing 2017 and 2018 actual operations. Property includes 30 employee units. The value per unit for the operating portion was applied to the employee units to derive the total value. Petfitloner's estimate of value: $ 7,393,500 2( 019 Value Year 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. See attached authorization Daytime Phone Number 770 644-2348 Patitloners Signature Email 7049 0700 0001 7462 4827 By. _ _ 1� �%,,� ., _,...,, Daytime Phone Number( 303 )955-4523 Agent's Slgna W Printed Name: Michael Rogers _ Ema!L_Trogers@atatex.com 'Letter of agency must be attached when petition le submitted by an agent II the Board of County Comrnissianers, pursuant to § 39-10-114(1), C.R.S., or the Property Tax Administrator, pursuant 10 § 39.2-116, C.R,S., denies the petition far refund or abatement of taxes in v tela or in pan, the petitioner may appeal to ftte Board of Assessment Appeals pursuant to u a pn,vision& or g 3s Z-125. c.rx_s., wtrhtn tntrry nays oftne entry of any such tlrtlsfan, §3%.10-114,5(j). C -RS. Section ll: ,� e 'b.'Vo Assessor's Recommendation 1k Neo-' (For Assessor's Use Ontyl Tax Year clue Asagggad T fh it16 Q A Original SQA oaLt} j i— 0 L 1 }{ Corrected (y t) 001.) Z t L�4i i� 1 � 1, ; 7 t) 7 i pLy L'A b dt Rbaterttatuna ❑ Assessor recommends approval as outilned above. {f the request for abatement IS based upon ihegrounds of or Waluation, no abatement or refund of taxes shall be masa H an objection or protest io such nratuation has been filed and a Notice of Delermination has been mailed to the tazpayer, § 39-10.114(1)(a)(1)(1)). C.R.S. Tarr year: _4u k 1 Protest? Kilo Yea (if a protest was filed, plaase attach a copy of the NOD.) © Assessor recommends denial for the following reason(a): Assessor's or Deputy Assessa s ftnati4ru 7019 0700 00017462 4827 FOR ASSESSORS AND COUNTY COMMISSIONERS USE ONLY ($action BI 91 Section IV must be complelad) Every p88tion for abatement or refund filed pursuant to g 39-113.114C.R.S. shall be acted upon pursuant lothe provisions et Ibis section by the Board of County Commiss4oners or tyre Assessor, as appropriate, within six months of the date of eting such petition, § 39.1-113(1.71. C.R.S. c to Ill: t4Wriften Mutual Agreement of Assessor and Petitioner (Only for abatements up to $10,000) The Commissioners of County authorize the Assessor by Resolution No, to review petitions for a ateWannt or re n a— o settle by Written mutual agreement any such petition g — abatement or refund in an amount of $110,000 or fess per tract, parcel, or lot of land or per schedule of personal property, in accordance with g 39 1-113(1.5}, C.R.S. The Assessor and Petitioner mutually agree to the values and tax abatemenVrefund of: Tax Year Actual ftessod ILS Original - Cor mcled - AbateiRefund_^� Note: The tote€ tax amount does not include aimed interest, penalties, and fees associated w rh late andlor daliaquent tax payments, 0 appiicobte. PleaseeanlactThe County Treasurer farfu€i paymentintomration. petitioner's signature Bele Asses eot+s or osputy Assessor's signature pate Shen tV: Decision of the County Commissioners (Must be completed If Section Ili does not apply) D ` WHEREAS, the County Commissioners of ` L�Y�. County, State of Colorado, at a duly and lawfully called regular meeting held on _a !_L�Lj 2.G' , at which meeting there were present the following members: Month Day Year wren rtuuw or suorl meeang aha an o p rtunit to be pre$ Fit having Been given to the Petitioner and the Assessoi o€said County and Assessor (being present -root presonQ and Petitioner Name �_(bafngp sent r►ot� and WHEREAS, the said County Commissioners have carefully considered the within petiflon, and are fully advised in relation thereto, NOW BE IT RESOLVED that lhe_Board 4Rg does not agree) with the recommendation of the Assessor, and that the petition be f4eeTvwapprov fn part-d8rrigaq with an abatemenllrefund as follows: Year Assessed Value ransAAefeiRerund S4,. F. GLld. Chairpereoh ofiite Roard ofCoantyCornmles3onera' $Ignahrre Jeanette Jones I County Cleric and Ex -Officio Clerk of the Hoard 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 seat of said County this; day of Aug -17-2020 MOnm Year �t,aura6 �6vt.s Countyclerk's or Deputy County Clews Signatu, Note: Abatemends nrenterihan 510,006 par schedule, per year, must be submAted in duplicate to the Property Tax Administrator for msAew. s t± inn : Action Of the Property Tax Administrator (Far all abatements greater than $10,000) The action of the Board of County Commisslnners, relative to this petition, is hereby ® Approved ❑ Approved in part $ ❑ Denied for the following reason(s): Secretary's signature Property Tax Administratoes Signature Data PITKIN COUNTY ASSESSOR 506 E MAIN ST STE 202 ASPEN CO 81611 PHONE: (970) 920-5160 FAX: (970) 920-5174 PETITIONER: _ q IV Wr ff SCHEDUI~E #:t L 61 Z The Pitkin County Assessor and the above mentioned petitioner, stipulate to the terms and values listed below: ABATEMENT STIPULATION AGREEMENT For the tax year of The Assessor and petitioner mutually agree to an actual value of for a totel tax amount of $ i_-�' resulting in an abatement/refund of PLEASE NOTE: THE TOTAL TAX AMOUNT DOES NOT INCLUDE ACCRUED INTEREST, PENALTIES, AND/OR FEES, IF APPLICABLE, AS THESE ITEMS CAN NOT BE ABATED/REFUNDED. PLEASE CONTACT YOUR COUNTY TREASURER FOR FULL PAYMENT INFORMATION. Assessor's Office Date lku'e �0 Z.Dr-0 Date APPOINTMENT OF AGENT Pitkin County Assessor Phone 970-920-5160 530 E. Main Street, #244 Fax 970-920-5174 Aspen CO 81611 This form may be used to name a tax agent to represent you on property valuation matters for the current year. Please read the instructions carefuliv. The Owner of record must siffn this form. STEP 1: Owner's name OWNERS NAME I SILVERTREE PROPCO LLC AND ADDRESS Current mailing address (number and street) CIO Starwood Capital Group Global LLP, 400 Galleria Parkway SE, Suite 1450 City, State, and Zip Code Daytime telephone Atlanta, GA 30339 (779 644-2348 STEP 2: DESCRIBE THE PROPERTY © All property listed for this owner at the above address ❑ The following property (give parcel # or legal description) Attewh additional pages if necessary STEP 3: SPECIFY THE AGENT'S AUTHORITY © Authorization to act on my behalf for the current year regarding property valuation on the property described FOR PROPERTY VALUATION MATTERS 0 Mail all correspondence regarding this protest to the below named agent ❑� If an on site inspection is necessary, contact the below named TAX YEAR agent 2019 ❑ Other action (specify) STEP 4: Agent's name NAME THE Alliance Tax Advisors - Michael B. Rogers AGENT FOR Current mailing address (number and sheet) PROPERTY TAX 1745 Shea Center Drive Suite 441 MATTERS City, State, and Zip Code Daytime telephone Highlands Ranch CO 80129 L301955-4523 STEP 5: Owner's Signature Date OWNER'S SIGNATURE' �` 05/18/2020 REQUIRED This forma must be signed by the property owner or by the corporate officer of a company. Appraiser Recommendation for an Abatement Assessor Generated ❑ Taxpayer Generated 0 To: Deb Bamesberger, Pitkin County Assessor From: Larry Fite Date: June 11, 2020 Petitioner: Silvertree Propco, LLC Schedule #: R3072 Parcel #: This is the Wildwood Hotel, situated on a metes and bounds parcel The appraiser has completed a review of the referenced property, as of this date, and hereby submits a recommendation as stated below, - 0 Deny ❑ Approve as Submitted 0 AbatementlRefund Different than requested Abatement for Year: 2019 Data collection period for year #1: July 1, 2016 to June 30, 2018 Assessment Rate: 29% Tax Area: 004 Mill Levy: 50.78 Actual Value this ear: $15,423,500 New Value: $9,000,000 Abatement for Year: _ Data collection period for year #2: Assessment Rate: Tax Area: Mill Le : Actual Value this year: New Value: value: Refun value: Tax Amount The basis of this recommendation is: This is the Wildwood Hotel, next to the Westin. The total value was appealed during the 2020 appeal period and an adjustment was made based on the income and expense data provided by the owner. The total adjusted value is being made retroactive to 2019 via the abatement process. Chief Appraiser Approval: Assessor Approval: Westin (Silvertree) Hotel Abatement for Tax Year 2019 The value of the silvertree Hotel was appealed in 2020 and the overall value was adjusted from a starting total value of $58,470,900 to $51,600,000 based on a review of the profit and loss statements from 2017 and 2018. The 2020 adjusted value was applied retroactively to 2019 via the abatement process. The abatements have been approved by the assessor's office so that the first year of the 2 year cycle matches the second. The hotel is comprised of 4 different accounts making up the Silvertree Hotel PIJD and conference center. Of the 4 accounts, the adjusted value resulted in a refund in excess of $10,000 on two of the four (see highlighted accts) and those are the two being approved by the County Commissioners. The other two, with refunds less than $10,000 have already been processed. A summary of the before and after values for each account is shown below. Value allocation- before adjustment 12786 silvertree lot 1 $27,539,700 47.0998% 12787 silvertree lot 2 $5,440,400 9.3045% 12788 silvertree lot 3 $21,339,800 36.4964% 13945 conference center $4,151,000 7.0993% total $58,470,900 100.0% Value allocation- after adjustment 12786 silvertree lot 1 $24,303,500 47.1% 12787 silvertree lot 2 $4,801,200 9.3% 12788 silvertree lot 3 $18,832,100 36.510 13945 conference center $3,663,200 7.1% total $51,600,000 100.0% Similarly, the Wildwood Hotel, sch# R003072, was appealed in 2020 and based on the actual income and expense data, the value was reduced from $15,423,500 to $9,000,000. This adjustment was also applied to 2019 via the abatement process. Again, the 2019 abatement was approved so that both years of the two year cycle would have the same level of value.