2021_10_12 BOER MINUTES - Laserfiche WebLink

Browse Search

DocuSign Envelope ID:CD609373-3AA7-4A4A-AD96-60FEBC2424AD Kelly Wells represented the County and stated the subject property is 0.85 acres of vacant commercial land located on US 15-501 across from Southern Village in Chapel Hill. The appellant's opinion of value is $647,950 but no supporting evidence was submitted to support this opinion. Ms. Wells stated that after review of the property,the County recommends applying a-20%topography adjustment for the slope of the land,making the subject's value more equitable with similar,nearby commercial land. This would reduce the value of the subject property from$1,295,900 to $1,036,700. The Board reviewed all documents and information provided by the appellant and the County. After deliberation and review, and due to a lack of supporting evidence from the appellant,Mr. Beattie made a motion to accept the County's revised value of$1,036,700.Ms. Levine seconded the motion and the motion carried. Yes: 3 Noes: 0 OBEY CREEK VENTURES LLC PIN 9787144852 Ryan Alexander Carr elected not to appear before the Board on behalf of the appellant and requested that the submitted documentation serve as the appeal. The appellant is appealing the value of a 10.93 acre property located on S. Columbia Street, Chapel Hill. The assessed value of the property is $10,960,800. A list of evidence follows: APPELLANT COUNTY 9787144852 Appeal 9787144852 County Kelly Wells represented the County and stated the subject property is 10.93 acres of commercial land located on US 15-501 across from Southern Village in Chapel Hill. There are three dilapidated homes on the parcel as well. The appellant's opinion of value is $3,528,400 but no supporting evidence for this opinion was submitted with the appeal. After reviewing the property and similar sales in the area,the County recommends further depreciating the homes from 90%to 99%, applying a-60%adjustment to the land for topography, shape, and flood plain,thereby reducing the value from$10,960,800 to $4,375,100 which is $400,000 an acre for the land and$3,100 for improvements. For comparison, a similar nearby property was sold in 2017 for$406,300 an acre. 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$4,375,100. Mr. Meyers seconded the motion and the motion carried. Yes: 3 Noes: 0 AANIKA HOTELS LLC DBA SIENA HOTEL ACCOUNT 1054345 Sean Singhi elected not to appear before the Board and requested that the submitted documentation serve as the appeal. The appellant is requesting a compromise in taxes associated with a discovery of business