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23 <br /> 1 Slide #5 <br /> Residential Revaluation Example <br /> f • Subject property: <br /> • Located in The Meadows in Mebane.The <br /> Meadows is a Market Area or <br /> Neighborhood forthe 2o25 Revaluation. <br /> • Sold for$296,000 in June 2020 <br /> • 2021 was assessed at$304,000 <br /> • Its sales ratio at 2021 Revaluation equaled <br /> 103%($304,000/$296,000) <br /> +M • Sold for$395,000 in March of 2024 <br /> ►,, • The current sales ratio is approximately <br /> 77% <br /> 2 <br /> 3 <br /> 4 Roger Gunn, Real Property Appraisal Manager, continued the presentation. <br /> 5 <br /> 6 Slide #6 <br /> Residential Revaluation Example <br /> (continued) <br /> • 2025 Land Sales analysis <br /> • Transfers of vacant lots average sale price of$85,000 <br /> A lot value of$85,000 was established for this neighborhood <br /> • 2025 Quality Grade analysis <br /> • Homes in The Meadows show inconsistences in grade from B-15 <br /> to B+10 using the 2021 Schedule of Values <br /> • For 2025 grade B-o5 was selected as the quality grade to be <br /> applied to all homes,with application of design factors as <br /> necessary to account for homes with significantly more or less <br /> features <br /> 7 <br /> 8 <br /> 9 <br />