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Weld County denies one tax abatement, approves two to align prior-year assessments
Summary
At its Jan. 29 meeting the Weld County Board of Commissioners denied one commercial tax-abatement petition and approved two others that reset 2023 assessments to match decisions reached for 2024, producing tax abatements and valuation changes for each property.
The Weld County Board of Commissioners on Jan. 29 denied a petition to reduce the 2023 assessed value of a commercial property in the Gateway Business Park and approved two separate petitions that adjusted 2023 values to match 2024 County Board of Equalization determinations.
Weld County Assessor Brenda Jones told commissioners the first petition (account R2420803) concerns a 6,396-square-foot commercial building in Johnstown occupied by Arapahoe Rental. Jones said the assessor reviewed cost, market and income approaches and set the assessor value at $1,032,015 (about $161 per square foot). She said comparable sales ranged from $140 to $213 per square foot and that a sale during the data-collection period occurred at about $213 per square foot. Jones recommended denial of the abatement request for tax year 2023 because any further appeal would be filed with the State Board of Assessment Appeals and adjustments must be consistent across years.
After public comment produced no speakers, Commissioner James moved to deny the petition; Commissioner Maxey seconded. The board called the vote and the denial was approved.
The board next considered account 2459786 (commonly called the Willows Apartments at 2026 120 Third Avenue in Greeley). Jones said the County Board of Equalization set a 2024 value at $131,700 per unit after reviewing sales that ranged from $119,000 to $236,000 per unit; she recommended aligning the 2023 assessment with that 2024 determination. The adjustment would set the property value at $20,545,200 and would reduce 2023 taxes by $12,069.85, Jones said. Following no public comment, Commissioner James moved to approve the petition in part to match the assessor’s public-record assessment; Commissioner Peppler seconded. The board approved the abatement in part.
Finally, the board approved an abatement for account 8965669 (LAN Colorado LLC), an industrial manufacturing facility near Brighton. Jones said the primary building — 116,301 square feet on a 62-acre parcel built in 2019 for production of prestressed concrete panels — had an original 2023/2024 valuation of $43,256,635. After review of an independent appraisal submitted by the owner and county inspection, Jones said staff set the 2024 value at $36,500,000 and recommended matching the 2023 value accordingly. She said the adjustment would reduce the tax from $776,469.59 to $655,186.02, for a tax abatement of $121,283.50. Commissioner James moved to approve the abatement as recommended; Commissioner Maxey seconded, and the board approved the motion.
Each of the three petitions was heard as a public hearing; no members of the public spoke on the items. The actions take effect as recorded in the board minutes.
