2021_08_24 BOER MINUTES - Laserfiche WebLink

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DocuSign Envelope ID:67AF45A6-6792-466B-A530-32D705D517AA Photographs provided show this building is in dire need of maintenance and repair. Mr. Hiltbold recommended changing the building type from Two-to-Four Family residence to Rooming House and removing the 50%market adjustment factor on the land reducing its value from$495,000 to the$330,000 base lot rate for the neighborhood. Also,what was originally recorded as a finished attic should now be a now a 70%third floor. This would correct the subject's finished area from 3,606 square feet to 4,327 square feet. Mr. Hiltbold also recommended a slight adjustment to the effective year built from 1980 to 1982. After application of all recommended changes,the total property value would decrease by $183,300 from$757,800 to $574,500. 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$574,500. Ms.Levine seconded the motion and the motion carried. Yes: 3 Noes: 0 Mr. Beattie made a motion to recess the meeting until 2:15 PM Mr. Beattie called the meeting back to order at 2:12 PM RIKE PIN 9798475877 This is a continuation from a prior meeting held on August 18,2021. The Board requested this continuation due to the prior Zoom meeting technical difficulties. Leon Meyers was present for this appeal in the last meeting. However,Mr. Meyers was unable to attend this meeting and in his place, Ryan Petrone is serving as an alternate Board member and has reviewed the recording from this appeal. Zachary Rike appeared before the Board to appeal the valuation of the property located at 1054 Canterbury Lane, Chapel Hill. The current assessed value of the property is $1,125,300. The appellant requested that the Board reduce the valuation of the property to $840,500 citing the fact that the appellant purchased the property for that amount in an open market transaction in November 2020,the appellant provided comparable sales to support this value, and the appellant believes $840,500 to be the true value of the property. A list of evidence follows: APPELLANT COUNTY 9798475877 Appeal 9798475877 County Jimmy Milliken represented the County and stated that the appellant's appeal documentation included an appraisal in conjunction with the sale of the subject indicating a value of$893,900. After reviewing the information from the appraisal and the sales from the neighborhood,the County determined the sale appears to be a distressed sale due to a separation per the property deed. Mr. Milliken provided a listing and price history,which illustrated the drastic value drop in a booming market. Two grids were provided from the appraisal report information and the County's evidence. Based on the evidence pointing to a distressed sale, along with 2019 &2020 sales in the area,the County recommends a revised value of $990,300. Mr. Beattie asked if the County would recommend a different revised value other than the$990,300 from the distressed sale due to unknown facts of the contract.