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 stated that the owner has appealed the valuation of the property citing soggy ground after a rain and the unpaved Dove Street at the southwest corner of the property negatively affecting the subject's value. Mr. Hiltbold noted that GIS photographs indicate a nearby flood plain to the west of the property,but the subject property is not located in a flood plain. Mr. Hiltbold stated that he visited the property,re-measured the house and found it to be only 28 feet wide,not 29 feet and the garage to be only 14 feet wide,not 20 feet. After correcting the sketch,the living area of the property would be reduced to 1,804 square feet, and with the size correction to the garage,the overall value of the property would be reduced$7,200 to$377,400. A comparable analysis indicates the subject's revised property value of$377,400 would be less than the sale prices of all but one property in the analysis. Therefore, it is the recommendation of the County that no further changes be made to the property's value. 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$377,400. Ms. Levine seconded the motion and the motion carried. Yes: 3 Noes: 0 GRASTY PIN 9788342830 Thomas Grasty III elected not to appear before the Board and requested that the submitted documentation serve as the appeal. The appellant is appealing the value of the property located at 216 Vance Street, Chapel Hill. The current assessed value of the property is $696,700.A list of evidence follows: APPELLANT COUNTY 9788342830 Appeal 9788342830 County Bill Hiltbold represented the County and stated that the appellant is appealing the value of the subject property due to the building value per square foot of the subject being significantly more than the building value per square foot of three neighboring properties. The appellant is requesting that the subject building value be reduced to $303,696. Mr. Hiltbold provided the Board an analysis of these three properties along with other comparable properties in the area. Mr. Hiltbold explained his analysis as follows: Sales in Neighborhood 7162 are shown at the top of the report and are sorted by finished area from largest to smallest. The appraiser boxed sales from Comper based on a range of plus or minus 562 square feet from the square footage of the subject. Within the boxed sales, grades from B to A-10 should be considered. The subject property last sold in 2018 for $760,000 and is presently assessed at$696,700. Mr. Hiltbold further explained that comparable properties found in other neighborhoods should not be considered unless their land value is $330,000 like the subject's land value. 321 W. University Drive had a correction to the basement in February of 2020 reducing its value, and is therefore not considered comparable. 423B Westwood Drive had a lower value after demolition for a renovation in progress at 30%completion in December of 2020. 1 Penick Lane sold for$795,000 in June 2019.