2021_08_24 BOER MINUTES - Laserfiche WebLink

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DocuSign Envelope ID:67AF45A6-6792-466B-A530-32D705D517AA Bill Hiltbold represented the County and noted that the appeal documents included a fee appraisal developed May 20,2021 with a valuation of$950,000,which is after the revaluation date,but four of the five comparable properties in the appraisal sold prior to January 1,2021 and can be considered. Mr. Hiltbold noted the subject parcel is larger than those around it at 1.2 acres and with the countywide revaluation was given a 100%increase above the $330,000 per lot base rate for the neighborhood since it is directly across Columbia Street from UNC Hospitals. Mr.Hiltbold recommended a 50%increase over the base rate,which would reduce the land value to$495,000,the same value as smaller lots surrounding the subject. Mr. Hiltbold stated that he visited the property and corrected the sketch with an open(not screened)porch on the front, a storage basement(unfinished)with a full bath.Along with adjustments to the second floor and attached apartment,the living area would be corrected from 3,591 square feet to 3,516 square feet and the bath count corrected from 3 full baths and 1 half bath to 5 full baths and 1 half bath. Mr.Hiltbold also recommended changing the effective year built from 2010 to 1980. If the Board approves these changes the land value will decrease by$165,000,the building value will decrease by$111,000 and the total property value reduced by$276,000 from$1,229,300 to $953,300. The Board reviewed all documents and information provided by the appellant and the County. After deliberation and review,Mr. Beattie made a motion to accept the County's revised value of$953,300. Ms.Levine seconded the motion and the motion carried. Yes: 3 Noes: 0 KANTOR PIN 9777800334 Boris Kantor failed to appear before the Board to appeal the valuation of the property located at 1013 Shagbark Court, Chapel Hill. The Board considered the submitted documents as the appeal. The current assessed value of the property is $868,300. A list of evidence follows: APPELLANT COUNTY 9777800334 Appeal 9777800334 County Bill Hiltbold represented the County and stated the owner included a fee appraisal with the appeal and requests the value be reduced from$868,300 to the October 2020 sale price of$820,000. Mr. Hiltbold stated that he visited the property and corrected the sketch adding a 762 square foot deck, corrected the bath count to 4 full baths, and corrected the finished area to 4,509 finished square feet. Mr. Hiltbold referenced an analysis report that indicated the subject is the largest home to sell during 2019-2020 and it has a pool and detached patios. Of the comparable sales selected by the fee appraiser and county appraiser only 560 Sun Forest Way is not in the neighborhood. That property sold for$935,000 but has 6 acres of land. Mr. Hiltbold recommended applying 10% functional depreciation to the subject for being overimproved and removing the 5%land size adjustment which would lower the total property value from$868,300 to $831,200. The Board reviewed all documents and information provided by the appellant and the County. After deliberation and review,Mr. Beattie made a motion to accept the County's revised value of$831,200. Ms. Levine seconded the motion and the motion carried.