2025_06_25 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID:5999C033-1430-4969-A880-AA08E7077BE9 Voted Against Property Identification: Property Owner Richard L. Smith Appellant(if different) Property Address 4314 Oak Hill Road Parcel ID or Abstract 19890383789 Statement of Appeal: Request a reduction in value based on the value of neighboring property and poor soil quality. Current Assessed Value $739,600 County Opinion $658,700 Time of Hearin 2:05 PM Appellant Opinion $500,000 County Representative Kelly Wells Board Decision $658,700 Evidence submitted by the appellant: • We don't understand how you have reached the "land"portion of the valuation. Our property is 2.41 acres,the land is valued at$522,400,which is$216,763/acre. However, for the property at 6 Sweetbriar Lane,which is adjacent to ours(we share about 100 feet of common border), the land is valued at$300,000 for 2.59 acres,which is$115,830 per acre -a difference of over $100,000 per acre! It seems to be generally that there is considerable variation in the $$/acre assessment of land in our neighborhood.Nor do we think this discrepancy is due to the quality of our land-in fact we had an inspection by Orange County some years ago but were denied permission to build a 4-bedroom extension because of poor soil quality. It seems to us that valuations for Oak Hill Road have been inflated by(a)two newly built houses that have added overall value to the neighborhood, (b)several other homes have changed hands recently or undergone major improvements which again increase the average value of homes in our neighborhood,but we have not made any significant improvements to our home.We acknowledge that properties with large lots have increased in value overall,but it is hard for us to believe that we could get more than$500,000 if we were to put it on the open market now. Evidence submitted by the county representative: • The subject property is a single family,frame home with 1,746 sf,built in 1975 on 2.41 acres of land in Chapel Hill. • The property behind the subject parcel belongs to a different neighborhood. It is in a subdivision and land is lot priced with HOA restrictions and dues. • The County recommends adding a-10% adjustment to the land for poor soil quality inhibiting expansion,reducing the grade of the home from B-05 to C+10 and correcting the storage building with measurements and removing the override unit price to allow it to depreciate. • These changes would result in the reduction in assessed value from$739,600 to $658,700. • GIS Map • Neighborhood Map • Photographs of Subject Property • Current Property Record Card of Subject • Proposed Property Record Card of Subject