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FILFr l "0:1nITY .r_rICE N•i+ •YNTY, MARLa' J. CONL.EY, Cu. N r i;LERK May 2TM, 2016 MAY 0 2 L7,3 To TIME From County Board of Equalization ------- Topperz. Inc. 121 South Pine Street 1115 Allen Dr.# B Grand Island NE 68801 Grand Island, NE 68803 Store phone: 308-384-1536 Cell phone: 308-390-1509 Re: Protest of 2015 Topperz, Inc Personal Property Assessment Dear County Board of Equalization Authorities, We are hereby protesting the Personal Property Return for the year of 2015. The assessed value was $992,690. The actual value was $66,098. We understand this protest has come very late, but due to the fact that the difference was extreme, please continue to read this letter. We are really hoping to come to a collective solution between us and the Country for this matter. In 2015, we did not receive the Personal Property Return for Topperz Inc. for 2015 that Hall County Assessor's Office sent out. In April 2016, we received the Personal Property Return for Topperz Inc. for 2016. We contacted the County Assessor's Office on April 2e, 2016 and discussed this matter regarding both 2015 and 2016 assessed value significantly over actual value. We were told that we can file protest for 2016's assessment, and we are no longer able to protest for 2015's assessment. We believe this advisement was inaccurate based on the procedures set out in Nebraska Department of Revenue Property Assessment Information Guide. We will file 2016's protest in a separate letter to keep the documents clear. In this letter, we are filing the request to protest/dispute the 2015's assessment. We understand this is not the typical processing timeline. However, due to the fact that the assessed value was 1500% higher than the actual value, we want to ask your attention for further consideration. Topperz, Inc. a frozen yogurt and smoothie store, retails frozen yogurt and drinks at said location on the letter header. Our store square footage is —2900 sqft, with only 8 small tables and short window bench for servicing to the customers. The major equipment we have is 5 frozen yogurt/ice cream machines. The store opened in August 2014. Therefore, 2015 was the first year we needed to file personal property tax. Since it is our first year in business, there were a lot of things to learn. We did not know we need to initiate the personal property tax returns, but we learn now. Since, we did not receive the letter the Country Assessor's office had sent out, we failed to file the protest on time. We recognize we are responsible for some of the discrepancies, and it is fair to pay the penalties for the late filing. However, we feel it is not justifiable to pay for the over assessed value where the error was so huge. We understand the assessor had to estimate the amount, if the value was 25% even 50% higher, we will be happy to pay for the assessed amount and not trouble the County. However, the assessed 1000% over the actual value is shocking and unfair coming from assessment professionals. To support our dispute, attached Schedule 1 lists the properties we purchase when we open in 2014. It also includes the 1st year tax report depreciation schedule. The total purchase value was $66,098.