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DocuSign Envelope ID:3ACB38FB-1D97-4586-9480-003E257BCC45 Property Identification: Property Owner Investors Title Company Appellant(if different) Property Address 121 N. Columbia Street Parcel ID or Abstract 9788371399 Statement of Appeal: Request a reduction in value to $906,904 based on recent income and expense data. Current Assessed Value $2,741,500 County Opinion $2,741,500 Time of Hearin 2:09 PM Appellant Opinion $906,904 County Representative Kelly Wells Board Decision $2,741,500 Evidence submitted by the appellant: • We believe that the assessment for parcel#9788371399 is overvalued based on our recent income and expense data.We believe that the market value for the property is $906,904. • A copy of income and expense data. Evidence submitted by the county representative: • Columbia St.,Chapel Hill.Market data supplied by Analytical Consultants indicates a potential gross income of$23/square foot,22% expense rate and an unloaded capitalization rate of 7% (loaded 8.67%) for an office building in downtown Chapel Hill. Based on these rates including the local tax rate, it was determined that the current valuation is supported,and the County recommends no change in value. • Supporting expense rates supplied by Analytical Consultants for Office and Medical(Orange County&Triangle Market Area)and calculations. • Street view of the property. • Property Record Card with current valuation. Motion of the Board To accept the County's recommendation of no change in value Made the motion Barbara Levine Seconded the motion Tony Blake Voted For Leon Meyers Voted Against Property Identification: Property Owner Investors Title Company Appellant(if different) Property Address 107 n. Columbia Street Parcel ID or Abstract 9788372336 Statement of Appeal: Request a reduction in value to $251,032 based on recent income and expense data.