GFT Cascade LLC.pdf
Gft Cascade LLC, Petitioner V Township Of Cascade, Respondent · 24-003634-TT
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Page 1
STATE OF MICHIGAN
DEPARTMENT OF LABOR & ECONOMIC GROWTH
PROPERTY TAX APPEAL
DOCKET NUMBER
MICHIGAN TAX TRIBUNAL
PETITION FORM
SMALL CLAIMS DIVISION
Failure to complete this form, including signature, and return it by filing deadline will result in dismissal.
If additional space is needed to provide the information requested, please use a separate sheet.
1. Petitioner(s} Name and Address
2. Agent or Attorney (if any) Name and Address
GFT Cascade LLC
McGuire Sponsel LLC
112 Bay Circle Dr, Hollland, Mi 48424
4925 Greenville Ave, Suite 775, Dallas, TX 75206
Petitioner's Daytime Phone No,
(616) 378-8806
Agent/Atiorney Phone No,__
(678) 770-4161
{residential, agricultural, personal, commercial, industrial, timber cutover,
3. Classification of property
Industrial
personal utility, developmental)
4. Location of Property:
City
_Hotland
Local School District:
County_Kent
Pawnship Cascade
Forest Hills Public Schools
5. Did Petitioner protest to the Board of Review?
[0]
Yes
C D
No
If no, please check all applicable reasons below and explain in the
space provided.
[The Assessment Change Notice was not properly sent to Petitioner prior to the March Board of Review.
[| Petitioner is appealing within 30 days of issuance of notice of action taken by July or December Board of Review.
[i] Petitioner is appealing a Clerical Error or Mutual Mistake of Fact.
[| Petitioner is appealing within 30 days of issuance of a State Tax Commission Order.
[petitioner is appealing within 35 days of receipt of Notice of Taxable Value Uncapping.
|
6. Did Petitioner request a Poverty Exemption at the Board of Review?
O
Yes
®
No
7. Check the reason for this appeal and explain in the space provided.
[Ihe property's true cash value and taxable value are incorrect, (SEE Line by Line Instructions.)
Clthe property's taxable value only is incorrect.
[Jthe uncapping of the property's taxable value is improper.
OO Petitioner was denied a property tax exemption.
Cl Petitioner was denied a poverty exemption.
8. Provide the Board of Review's determination of the state equalized or assessed value and taxable value for each parcel, for each tax year being
appealed.
Parcel Number
Tax Year
State Equalized Value or
Taxable Value on Roll
Assessed Value on Roll
41-19-18-426-008
2024
$2,723,600.00
$2,512,377.00Page 2
9. Provide Petitioner's contention or belief of the true cash ( fair market) value and taxable value for each parcel, for each tax year being appealed Parcel Number Tax Year True Cash (Fair Market) Value Taxable Value Contention Contention 41-19-18-426-008 2024 $4,107,430.00 $2,053,715.00 10. Explain the basis of your appeal. Marshall and Swift Cost Approach 11. Does the property have a principal residence exemption of at least 50% for the tax year(s) at issue? [eo] Yes: Petitioner is not required to pay a fee for the filing of this appeal. [o} No: Petitioner is required to pay a fee for the filing of the appeal. (See Fee Schedule.) Failure to remit a required fee with this Form may result in dismissal. Amount Paid: RB naree If not using an agent or attorney, Petitioner is required to sign: WW If using an agent or attorney, only agent or attorney is required to sign: Nick Kesling N\ PLEASE RETURN THE ORIGINAL AND ONE COPY OF THIS COMPLETED FORM WITH TWO COPIES OF ANY ATTACHMENTS to: Michigan Tax Tribunal, PO Box 30232, Lansing, MI 48909. Keep a copy of the Form and any original attachments for your records. The Department of Labor & Economic Growth will not discriminate against any individual or group because of race, sex, religion, age, national origin, color, marital status, disability or political beliefs. If you need assistance with reading, writing, hearing, etc., under the Americans with Disabilities Act, you may make your needs known to this agency. For further information, please contact the Tribunal at: PH: (517) 373-3003 Web Site: www.Michigan.govitaxtribunal E-mail: taxtrib@Michigan.gov TT262 Revised 01/05 1973 PA 186, As Amended
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6/26/2024 Summary Report Estimate Number Estimate ID Property Owner Property Address Property City State/Province ZIP/Postal Code Section 2 Occupancy 100% Industrials, Light Mftg. Total Area Number of Stories (Section) Shape Effective Age (years) Section 3 Occupancy 100% Storage Warehouse Total Area Number of Stories (Section) Shape Effective Age (years) Components Land and Site: Land Site Improvements Cost as of 04/2024 Basic Structure Base Cost Exterior Walls Heating & Cooling Basic Structure Cost Extras Site Improvements - Depreciated Replacement Cost New Less Depreciation 23 41-19-18-426-008 GFT Cascade LLC 5569 33rd ST SE Grand Rapids Mi 49512 Class Height Rank Wood or steel framed exterior walls 1 63,676 : 1.00 1 2.00 1 21.00 Class 27.00 Height 2.5 Rank Wood or steel framed exterior walls : 1,500 : 1.00 2.00 2 11.00 Units/% 15.00 Other 2.5 552,000 129,495 Units/% Cost Total 65,176 65,176 65,176 65,176 65,176 67.58 16.76 5.72 90.06 92.05 4,404,823 1,002,415 372,793 5,870,031 129,495 5,999,526 2,444,096
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6/26/2024 Input Data Listing Page: Estimate Number : 23 Estimate Number Property Owner Property Address Property City State/Province ZIP/Postal Code Estimate ID Surveyed By Survey Date Apply depreciation % to Replacement Cost New Section 2 Occupancy 494 Industrials, Light Mftg. Total Area Number of Stories (Section) Shape Effective Age (years) Typical Life (years) Base Date Adjustment Depreciation Type Section 3 Occupancy 406 Storage Warehouse Total Area Number of Stories (Section) Shape Effective Age (years) Typical Life (years) Base Date Adjustment Depreciation Type Components Land and Site: 61 Land 62 Site Improvements 123 : GFT Cascade LLC : 5569 33rd ST SE : Grand Rapids : MI : 49512 + 41-19-18-426-008 : Tanner Cox : 06/19/2024 Height Rank 100 D 27 25 121 : Marshall & Swift Tables : 01/2024 01 : Marshall & Swift Tables Height Rank 100 D 15 2.5 c 11 : Marshall & Swift Tables : 01/2024 01 : Marshall & Swift Tables Units/% Rank Depr% Other 552000 129495
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6/26/2024 Detailed Report Page: 1 Estimate Number: 23 Estimate ID: 41-19-18-426-008 Section 2 Occupancy Class Height Rank 100% Industrials, Light Mftg. Wood or steel framed exterior walls 27.00 2.5 Total Area : 63,676 Number of Stories (Section) 1 1.00 Shape $2.0 Effective Age (years) 121.0 Cost as of 04/2024 Total Cost Less Total Cost Units Unit Cost New Depreciation ~~ Deprecated Basic Structure Base Cost 63,676 67.63 4,306,408 1,808,691 2,497,717 Exterior Walls 63,676 16.79 1,069,120 449,030 620,090 Heating & Cooling 63,676 5.70 362,953 152,440 210,513 Basic Structure Cost 63,676 90.12 5,738,481 2,410,161 3,328,320 Less Depreciation Physical & Functional 420% 2,410,161 3,328,320 Depreciated Cost 63,676 52.27 3,328,320
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6/26/2024 Detailed Report Page: Estimate Number: 23 Estimate ID: 41-19-18-426-008 Section 3 Occupancy 100% Storage Warehouse Total Area Number of Stories (Section) Shape ‘ Effective Age (years) Components Land and Site: Land Site Improvements Cost as of 04/2024 Basic Structure Base Cost Exterior Walls Heating & Cooling Basic Structure Cost Extras Site Improvements - Depreciated Replacement Cost New Less Depreciation Physical & Functional Depreciated Cost Miscellaneous Land Total Cost Class Height Rank Wood or steel framed exterior walls 1 1,500 : 1.00 120 : 110 Units/% 15.00 Other 552,000 129,495 Units Unit Cost Total Cost New Depreciation Total Cost Depreciated 1,500 65.61 1,500 15.53 1,500 6.56 1,500 87.70 1,500 174.03 13.0% 1,500 151.41 1,500 519.41 98,415 23,295 9,840 131,550 129,495 261,045 12,794 3,028 1,279 17,101 16,834 33,935 552,000 85,621 20,267 8,561 114,449 112,661 227,110 227,110 -552,000 779,110
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