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DocuSign Envelope ID:9A676531-F35E-4E66-B48C-3107043DBD2E <br /> Cyle Anderson represented the County and stated that after reviewing the subject property and the <br /> appellant's appraisal,the County recommends decreasing the number of mobile home spaces to 14 spaces <br /> and applying an E70 economic modifier to the property which would result in a revised valuation of <br /> $240,700 for the subject property. <br /> The Board reviewed all documents and information provided by the appellant and the County. After <br /> deliberation and review,Mr.Beattie made a motion to accept the County's revised valuation of$240,700. <br /> Mr. Meyers seconded the motion and the motion carried. <br /> Yes: 3 <br /> Noes: 0 <br /> Mr. Beattie made a motion to recess the meeting until 2:30 PM. <br /> Mr. Beattie called the meeting back to order at 2:29 PM. <br /> Daniel Boone Ltd. PIN 9864807203 <br /> James E. Hopper appeared before the Board to appeal the value of the property located at 378 S. Churton <br /> Street,Hillsborough. The current assessed value of the property is $2,182,800. A list of evidence follows: <br /> APPELLANT COUNTY <br /> 9864807203 Appeal 9864807203 County <br /> The appellant is requesting that the Board reduce the valuation citing the fact that the cost to manage, <br /> maintain, and insure the subject property is more than the income derived made from the property. The <br /> appellant stated that the subject property was previously an occupied steak house and a motel/apartment <br /> complex,but the steak house was demolished in 2020 and the motel/apartment complex was demolished <br /> within the last 30 days due to it being a liability. The appellant gave no opinion of value for the property <br /> but stated that their taxes increased 34% over the past year. <br /> Cyle Anderson represented the County and stated the subject property is a 4.94-acre commercial tract, <br /> and after reviewing the subject property and comparable sales in the area,the County recommends <br /> applying 95%functional obsolescence to the vacant motel/apartment building located on this tract and <br /> increasing the market adjustment on the land to -50%. These changes would result in a revised valuation <br /> of$1,584,000 for the subject property. <br /> The Board reviewed all documents and information provided by the appellant and the County. After <br /> deliberation and review,Mr. Beattie made a motion to accept the County's revised valuation of <br /> $1,584,000. Ms. Levine seconded the motion and the motion carried. <br /> Yes: 3 <br /> Noes: 0 <br />