2025_09_10 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID:056FE2E5-FAD3-473E-9E3E-E287COF06262 Statement of Appeal: Request a reduction in value based on a recent independent appraisal. Current Assessed Value $220,000 County Opinion $100,000 Time of Hearin 1:20 PM Appellant Opinion $94,000 County Representative Jimmy Milliken Board Decision $94,000 Evidence submitted by the appellant: • Appraisal from Keystone Consulting Group Evidence submitted by the county representative: • The subject is a small dirt lot that has been used for parking. After reviewing the sales comparison approach in the appellant's appraisal report,the County recommends adjusting the existing-45%for the land an additional-30%,totaling-75%for a new value of$100,000. • Current Property Record Card of Subject • Proposed Property Record Card of Subject • GIS Map of Subject Motion of the Board Accept A ellant's Proposed Value: $94,000 Made the motion Leon Meyers Seconded the motion Saru Salvi Voted For All BOER Members Voted Against ... Property Identification: Property Owner Diane Harrell Trustee Appellant(if different) Joseph Riddle Property Address 425 W. Franklin Street Parcel ID or Abstract 9788164037 Statement of Appeal: Request a reduction in value based on an income approach and a recent independent appraisal. Current Assessed Value $2,636,900 County Opinion $2,636,900 Time of Hearin 1:24 PM Appellant Opinion $450,000 County Representative Roger Gunn Board Decision $2,000,000 Evidence submitted by the appellant: • The subject is currently assessed at$2,636,900 ($176.50/square foot). The appellant is requesting a lower valuation based on the income approach for its current use as a paid public parking lot leased to the Town of Chapel Hill. The appellant also submitted an independent appraisal as of January 1, 2025 in which the property was valued at $1,880,000($125.84/square foot). Evidence submitted by the county representative: