To: Board of County Commissioners
Through: Ronald A. Carl, County Attorney, County Attorney
Prepared By:
prepared
Gina Garran, Paralegal, County Attorney
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Subject:
title
Approval of BAA Stipulations (1 Resolution Number)
end
Purpose and Request:
recommended action
The purpose of this request is for the adoption of a resolution approving the Board of Assessment Appeals (BAA) stipulations listed below.
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Background and Discussion: 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. 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
2020
80199
Richmond American Homes of Colorado
Vacant Land
1.
$13,907,725.00
$12,288,250.00
2020
80370
Arapahoe Street Mall III LLC
6640 South Paris Street
2.
$7,888,000
$7,100,000
2021/2022
2021BAA1487
BRE DDR BR Cornerstar Co LLC
15900 East Briarwood Circle
3.
$86,469,000
$77,524,000
2021/2022
2021BAA1508
Ironton Aurora Partners LLC
10732-61 East Alameda Avenue
3.
$2,759,000
$2,401,000
2021/2022
2021BAA1552
Par Equities
2250 South Parker Road
3.
$ 4,239,000
$3,850,000
2021/2022
2021BAA1717
Avanath Fox Crossing LLC
8350 East Yale Avenue
4.
$39,600,000
$22,377,013
1. Comparable market sales and present worth discounting for an extended sell out for subject lots indicates that adjustment to this value is correct.
2. Cost, income and sales comparison approaches indicate that adjustment to this value is correct. Due to extended stay rooms, 13.1% is classified as residential.
3. Income and sales comparison approaches indicate that adjustment to this value is correct.
4. Based on subject rent restrictions in relation to comparable market sales, adjustment to this value is correct.
Alternatives: Let protests proceed to...
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