Orange County NC Website
Browse       Search
Docusign Envelope ID: B7F456FA-D17C-4C6B-AA5F-44C01B4312A8 <br /> Property Identification: <br /> Property Owner Li Xu Yu Appellant(if different) <br /> Property Address 103 Carriage Circle Parcel H)or Abstract 19890415827 <br /> Statement of Appeal: Request a reduction in value based on the fact that this is rental property and has <br /> had almost no repair or improvement since it was purchased in 2014. <br /> Current Assessed Value $411,100 County Opinion $408,500 <br /> Time of Hearin 1:40 PM Appellant Opinion $350,000 <br /> County Representative Bill Hiltbold Board Decision $408,500 <br /> Evidence submitted by the appellant: <br /> • The appellant bought this home in foreclosure and presents a settlement statement from <br /> Housing and Urban Development for a$200K sales price dated August 7,2014. It has been a <br /> rental property since and there has been almost no repair or improvement. The appellant <br /> considers it worth no more than$400,000. <br /> Evidence submitted by the county representative: <br /> • A functional design factor of 25 was applied to depreciation in 2017 which increased total <br /> depreciation to 44.5%. <br /> • The equity analysis of this neighborhood shows houses close to the subject's living area and is <br /> sorted by living area from largest to smallest. The subject property is the smallest at 1561 <br /> square feet. The land price is the same for all the properties, so value varies with the building. <br /> Please notice the building value per square foot of living area column"BV/FA". The subject <br /> already has the lowest value per square foot of all 8 close to its size. <br /> • I measured the house and found it to be 1 foot wider than the current sketch which increases it's <br /> area to 1625 square feet. The garage side photo of the home shows signs of weathering. I <br /> propose setting the effective year built to the year built of 1989. <br /> • Photographs of Subject <br /> • Current Property Record Card of Subject <br /> • Proposed Property Record Card of Subject <br /> • Email Correspondence <br /> Motion of the Board Accept the Coun 's revised value of$408,500 <br /> Made the motion Saru Salvi <br /> Seconded the motion Richal Meyers <br /> Voted For Leon Meyers <br /> Voted Against <br />