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DocuSign Envelope ID:3ACB38FB-1D97-4586-9480-003E257BCC45 <br /> Motion of the Board Deny compromise of the $662.93 listing penalty <br /> Made the motion Barbara Levine <br /> Seconded the motion Tony Blake <br /> Voted For Leon Meyers <br /> Voted Against <br /> Property Identification: <br /> Property Owner Investors Title Company A ellant if different <br /> Property Address 117 W. Rosemary Street I Parcel ID or Abstract 19788370384 <br /> Statement of Appeal: Request a reduction in value to $996,000 based on current value being inconsistent <br /> with assessments of similar properties. <br /> Current Assessed Value $1,486,100 County Opinion $1,486,100 <br /> Time of Hearin 2:05 PM Appellant Opinion $996,000 <br /> County Representative Kelly Wells Board Decision $1,486,100 <br /> Evidence submitted by the appellant: <br /> • The assessment for parcel#9788370384 is inconsistent with assessments of similar properties. <br /> A comparable property is parcel#9788374469. This property is located just down the street <br /> from Investors Title Company's property. The comparable property is assessed at a rate of <br /> $60.00 per square foot of land, as compared to the assessment of$90.00 per square foot of land <br /> for Investors Title Company's property. <br /> Evidence submitted by the county representative: <br /> • The subject property is a parking lot located at 117 W.Rosemary Street in Chapel Hill. The <br /> property used as the appellant's comparable is located at 100 E. Rosemary Street and although <br /> just a few blocks away on the same street is determined to be in a different neighborhood. <br /> • Land such as the subject property, in NBC L005 (100-300 block of W. Rosemary) is <br /> considered approximately 50%more valuable than land in L004(100 block of E.Rosemary) <br /> due to better access to modern shopping centers and restaurants and was priced accordingly. <br /> • Equity Analysis of like properties <br /> • Aerial view of the property <br /> • Property Record Cards with current valuation <br /> Motion of the Board To accept the County's recommendation of no change in value <br /> Made the motion Tony Blake <br /> Seconded the motion Barbara Levine <br /> Voted For Leon Meyers <br /> Voted Against <br />