2021_11_16 BOER MINUTES - Laserfiche WebLink

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DocuSign Envelope ID:C9ACA973-728D-4853-A135-6BC01CA1C2D5 and the appeal is based on the percentage of increase in value over the last four years with no improvements made to the property. The appellant's opinion of value is $192,300. Ms.Wells stated that the County conducted a site visit on October 7,2021 and as a result,the County recommends reducing the grade of the house from B-05 to C, changing the floor covering from hardwood to tile,removing the fireplace and adding 20%functional depreciation for design due to no upstairs bathroom to accommodate the upstairs bedrooms. These changes would result in a reduction of the valuation of the property from$233,100 to $191,300. 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$191,300. Ms.Levine seconded the motion and the motion carried. Yes: 3 Noes: 0 WELLS PIN 9788271901 Randy Wells 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 407 Church Street, Chapel Hill. The current assessed value of the property is $523,200.A list of evidence follows: APPELLANT COUNTY 9788271901 Appeal 9788271901 County Kelly Wells represented the County and stated that the subject property is a four bedroom, four-bath rooming house located in the Northside Conservation District in Chapel Hill. Ms. Wells stated that the appeal is based on an inequitable percentage of increase in value compared with other properties owned in the area. The appellant's opinion of value for the property is $385,000. Ms.Wells stated that the properties used for comparison by the appellant are single-family homes. The County's research indicates that lots utilized for two-to-four family residences or rooming houses should be valued from 10%to 70%higher than the lots utilized for single Family residences. Ms. Wells stated that the County conducted a site visit on October 18,2021 and as a result,the county recommends correcting the sketch for measurements of the main area and reducing the market adjustment on land from 65%to 60%. These changes would result in an increase of the valuation from$523,200 to $538,100. 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$538,100. Ms. Levine seconded the motion and the motion carried. Yes: 3 Noes: 0