2021_10_20 BOER MINUTES - Laserfiche WebLink

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DocuSign Envelope ID:C96AFABB-155D-4309-8C5B-76691BED5397 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$2,550,300 for the property. Ms.Levine seconded the motion and the motion carried. Yes: 3 Noes: 0 MCDONALD'S CORPORATION PIN 9799473234 Rex Willoughby appeared before the Board to appeal the value of the property located at 1748 Fordham Boulevard, Chapel Hill. The current assessed value is $1,907,700. A list of evidence follows: APPELLANT COUNTY 9799473234 Appeal 9799473234 County The appellant is requesting that the Board reduce the valuation citing the fact that the property has had a value increase with no changes to the property and requests that the Board lower the valuation to the 2020 valuation of$1,501,400. Kelly Wells represented the County and stated that upon review of this property by CCA, CCA weighted the sales comparison approach at 50%and the income approach at 50% for a reconciled valuation of $1,749,883 for the property.As a result of this review, Orange County recommends decreasing the market adjustment on the land from 95%to 65%for a revised valuation of$1,744,100 for the property. 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$1,744,100 for the property. Ms. Levine seconded the motion and the motion carried. Yes: 3 Noes: 0 LILA Y.PAYDARFAR,TRUSTEE PIN 9799013406 Lila Paydarfar elected not to appear before the Board and requested the submitted documents serve the appeal. The appellant is appealing the value of the property located at 223 Valley Park Drive, Chapel Hill. The current assessed value of the property is $432,200. A list of evidence follows: APPELLANT COUNTY 9799013406 Appeal 9799013406 County Bill Hiltbold represented the County and stated the appellant is appealing the valuation of a one-story property on the basis that the property is old and in need of renovation. The appellant states that the rent for each unit has not been increased for many years due to condition.