Friday, May 11, 2012

Adams County Assessor Charged for Lowering Appraisals

Adams County District Attorney Don Quick announced today that the joint investigation with the Federal Bureau of Investigation and United States Attorney’s Office of Adams County Assessor Gil Reyes (DOB: 10/12/1952) has been completed. After a thorough review of the evidence and the applicable statues, and in consultation with federal authorities, the District Attorney’s Office has concluded that the appropriate charges to be filed against Mr. Reyes are nine counts of Official Misconduct (M2).

 The charges stem from allegations that in June 2005 and February 2007 Reyes instructed his administrative assistant to lower the appraisal values of nine warehouses in Adams County owned by Majestic Realty. The original property appraisal values had been established by the staff commercial appraisers in Reyes’ office.

The Colorado Constitution requires a County Assessor to determine property values based on the actual value of such property by appropriate consideration of cost approach, market approach and income approach. The criminal charges allege that Reyes failed to follow the appropriate rules, regulations and statutes in lowering the appraisals for the identified Majestic properties.

In August 2011, the Division of Property Taxation at the Colorado Department of Local Affairs completed a report regarding an investigation of taxpayer complaints against Reyes. Their conclusion was “The warehouse subclass has not been valued at the correct level of value.”

Reyes is scheduled to appear in Adams County court on June 14, 2012, 8:30 AM in Division R.

1 comment:

  1. Make sure you have soap on a rope, my friend.