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 Post subject: Re: RIVER BEND RESTAURANT -WHAT HAPPENED
Post Posted: Feb 18, 2018 10:20 am 
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Freezeman wrote:
I am curious as to what a small business like the Riverbend is changed yearly for property tax?

That should be public information on the County Assessor's website if you're curious


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 Post subject: Re: RIVER BEND RESTAURANT -WHAT HAPPENED
Post Posted: Feb 18, 2018 10:51 am 
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Property tax on small businesses is for the personal property plus the real estate (if any.) At my cafe we are charged tax on all of the equipment we own inside the cafe, but because we do not own the real estate we are not charged the taxes on that.

The amount paid is on the county assessor's website, but it differs greatly depending on what is actually owned in the building vs. what equipment is leased. It also depends on if the equipment is new or used and what the actual value of the equipment is.

So... Basically the question is very difficult to answer.. :)


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 Post subject: Re: RIVER BEND RESTAURANT -WHAT HAPPENED
Post Posted: Feb 18, 2018 11:03 am 
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Thanks for the well informed input :)


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 Post subject: Re: RIVER BEND RESTAURANT -WHAT HAPPENED
Post Posted: Feb 18, 2018 12:23 pm 
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Thanks Rak, the Assessor's website seems to have loads of information for the curious.

It was easy to see that the River Bends property taxes went up 50% from 2016 to 2017 much like many of the other small business property taxes did.
It doesn't seem that difficult to see the cost of doing business crowhillcafellc the website shows your personal property tax expense and amount being charged for the real estate you are on. I assume you do pay rent?
I have a hard time understanding how any business can make it with the cost of just being here grows like it has.


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 Post subject: Re: RIVER BEND RESTAURANT -WHAT HAPPENED
Post Posted: Feb 18, 2018 1:24 pm 
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Yes I pay rent :) lol

Cost of business is constantly increasing, but the real estate and personal property taxes are the least of your worries. Those taxes are a simple once per year problem that can be planned for. The real increase in the cost of business is payroll taxes, minimum wage, product price increases. Congress likes to wait till very the last minute or later to make changes to the tax code, and it is nearly impossible to plan for.

You see even though we pay most everyone more than min. wage, the warehouses that I purchase my food from has to increase their prices because min. wage increased their costs. In addition to that, your workers comp insurance is based on your payroll and so are your portions of payroll taxes. So you see, when Min wage increases, my costs go up way more than just the min wage increase on payroll.

In addition to that, prices of things like eggs, fruit, and other products fluctuate quite a bit, so you must also consider that when pricing your product for retail sale. You can't just change prices on a menu everyday.

Next year Colorado will start enforcing many new rules on restaurants, this will force owners to put at least 1 full time employee through food safety training and certification (its not free either.) That means, every restaurant will have to pay an employee their regular wage plus travel to go sit in training which we will also have to pay for, if that employee is salary, then I will likely have to pay an hourly employee to cover the salaried employees shift. This is going to likely cost the business close to $1000 by the time everything is said and done. We will also be forced to have much more strict records revolving around when food was prepared and when it should be thrown out. This again will increase labor and administrative cost, but the customers will expect prices to stay the same. While this doesn't amount to a hill of beans to us because we already have a serve safe certified full time employee, and I know the health code well enough to simply take the test for certification without the classes and, we already are compliant with next year's regulations because dating product and food safety are very important to us.

This is just a small taste of what it takes to run a business up here and really anywhere. We do it because we either we love what we do, or we just don't want to work for someone else. Its hard and sometimes scary, but with proper planning, a little bit of logic, and a lot of practice it can be very rewarding.... Or so i have heard... lol :)


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 Post subject: Re: RIVER BEND RESTAURANT -WHAT HAPPENED
Post Posted: Feb 18, 2018 6:55 pm 
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It's good to see a clear explanation of a complex problem that is hitting restaurants and many other businesses hard. Most people don't realize the costs of compliance to the myriad of regulations.


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 Post subject: Re: RIVER BEND RESTAURANT -WHAT HAPPENED
Post Posted: Feb 19, 2018 1:29 am 
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mtree wrote:
Contrary to what many believe, this had nothing to do with Riverbend closing.

Hmmm...OK...the the real reason was what? You're telling us all the news stories on this were wrong?


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 Post subject: Re: RIVER BEND RESTAURANT -WHAT HAPPENED
Post Posted: Feb 19, 2018 1:36 am 
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Thanks crowhillcafellc for running a good establishment and informing the public how difficult it really is running a good business. It is a fine line between over-regulation and under-regulation.


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 Post subject: Re: RIVER BEND RESTAURANT -WHAT HAPPENED
Post Posted: Feb 19, 2018 9:12 am 
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sunsetinthepines wrote:
mtree wrote:
Contrary to what many believe, this had nothing to do with Riverbend closing.

Hmmm...OK...the the real reason was what? You're telling us all the news stories on this were wrong?


Not wrong just not ALL of the factors in its closing. There is an unresolved dispute involving joint ownership.


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 Post subject: Re: RIVER BEND RESTAURANT -WHAT HAPPENED
Post Posted: Feb 19, 2018 4:54 pm 
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yeah, I heard the same thing as Jmiller, but have virtually no more insight than that.


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 Post subject: Re: RIVER BEND RESTAURANT -WHAT HAPPENED
Post Posted: Feb 20, 2018 11:52 am 
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crowhillcafellc wrote:
I assume this must now go to the senate where it will likely die after Chuck U gets wind of it.

A round of :applause: for the Dems. They never miss a chance to put Americans out of work

A round of :applause: for crowhillcafellc for always providing excellent and informative messages, and great breakfasts


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 Post subject: Re: RIVER BEND RESTAURANT -WHAT HAPPENED
Post Posted: Feb 20, 2018 4:12 pm 
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WeimMom wrote:
A round of :applause: for the Dems. They never miss a chance to put Americans out of work

I'm not a Dem, but I'm much closer to them than I'll ever be again (as I once was) to the right.
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