2021_10_20 BOER MINUTES - Laserfiche WebLink

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DocuSign Envelope ID:C96AFABB-155D-4309-8C5B-76691BED5397 Ms.Wells 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$26,926,389.As a result of this review, Orange County recommends changing the market adjustment on the land from-41%to- 38%and applying an economic market adjustment of E12 to the property for a revised valuation of $26,900,600 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 valuation of $26,900,600. Ms. Levine seconded the motion and the motion carried. Yes: 3 Noes: 0 AMBIENT AIR LLC PIN 9788056472 Larry Burks,tax representative for the appellant 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 116 S. Merritt Mill Road. Chapel Hill. The current assessed value of the property is $1,505,400. A list of evidence follows: APPELLANT COUNTY 9788056472 Appeal 9788056472 County Kelly Wells represented the County and stated that the property includes an office building and 0.77 acres of land, and the appellant is requesting a lower valuation based on comparable sales and suggests a valuation of$1,044,982. Ms. Wells 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$1,166,305 for the property. As a result of this review, Orange County recommends increasing the economic market adjustment on the property from E28 to E45 for a revised valuation of$1,149,900 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 valuation of $1,149,900. Ms. Levine seconded the motion and the motion carried. Yes: 3 Noes: 0 86 NORTH CGC LLC PIN 9880346537 Alex Carr,tax representative for the appellant elected not to appear before the Board and requested that the submitted documentation serve as the appeal. The appellant is appealing the value of property located at 200 Westminister Drive, Chapel Hill. The current assessed value of the property is $16,264,800. A list of evidence follows: