To: Board of County Commissioners
Through: Ron Carl, County Attorney
From:
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Gina Garran, Paralegal
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Subject:
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A resolution to approve the Board of Assessment Appeals (BAA) stipulations
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Purpose and Recommendation:
recommendation
Adoption of a resolution approving the Board of Assessment Appeals (BAA) stipulations listed below.
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Background:
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These stipulations are a result of agreements reached between the taxpayers and the County regarding a reduction in the amount of property tax owed, settling tax protests filed with the BAA.
Discussion:
The following BAA docket numbers have been stipulated to for the tax years indicated below.
|
Tax Years |
Docket# |
Property Owner |
Property Address |
Reason |
Original Value |
Stipulated Value |
|
2017/2018 |
79223 |
Southglenn Property Holdings Llc |
6853 South York Street |
1. |
$14,520,000 |
$14,000,000 |
|
2017/2018 |
79259 |
Sapkin Richard M, Sapkin Shelly C |
9 Wildrose Trail |
2. |
$4,556,000 |
$4,265,800 |
|
2020 |
79745 |
Intown Suites Sheridan, LLC |
2900 West Hampden Avenue |
3. |
$6,614,000 |
$6,614,000 |
|
2020 |
79746 |
Its Centennial LP |
12943 East Brinwood Avenue |
4. |
$7,135,000 |
$7,135,000 |
|
2019/2020 |
79886 |
Timothy W Balsley |
6685 South Ogden Street |
2. |
$375,300 |
$338,200 |
|
2019/2020 |
2020BAA138 |
MERRITT 777 LLC |
7909 South Chambers Road |
1. |
$11,000,000 |
$10,075,000 |
1. Cost, income and sales comparison approaches indicate that adjustment to this value is correct.
2. Comparable market sales indicate that adjustment to this value is correct.
3. For this settlement of tax year 2020, the value will remain unchanged at $6,614,000 and, based upon the property’s occupancy, the County will change the classification of the property to 15.3% commercial and 84.7% residential. Based upon this classification change, 15.3% of the property’s total actual value will be assessed at the commercial rate and 84.7% at the residential rate for tax year 2020.
4. For this settlement of tax year 2020, the value will remain unchanged at $7,135,000 and, based upon the property’s occupancy, the County will change the classification of the property to 64.8% commercial and 35.2% residential. Based upon this classification change, 64.8% of the property’s total actual value will be assessed at the commercial rate and 35.2% at the residential rate for tax year 2020.
Alternatives:
Let protests proceed to the BAA for a decision. Said alternative would involve unnecessary time and expense for the County and the taxpayer.
Fiscal Impact:
Reduction in the amount of property taxes collected for the above listed properties.
Reviewed By:
Ronald A. Carl, County Attorney
Gina Garran, Paralegal
Attachments:
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