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<br /> <br /> <br />Property Owner Kathy Yu Trustee Appellant (if different) <br />Property Address 601 W Rosemary St Unit <br />1002 <br />Parcel ID or Abstract 9788066395.110 <br /> <br />Statement of Appeal: Request a reduction in value based on a comparable sale. <br /> <br />Current Assessed Value $1,440,400 County Opinion $1,390,700 <br />Time of Hearing 4:14 PM Appellant Opinion $1,200,000 <br />County Representative Kelly Wells Board Decision $1,390,700 <br /> <br />Evidence submitted by the appellant: <br />• The assessed value of our units has increased by almost 70 percent. This is a sharp and <br />sudden rise that is difficult to reconcile with long-term market trend. I respectfully <br />request a review of my assessment. Thank you for your time and consideration. <br />• Opinion of value: $1,200,000: The other penthouse unit sold at this price. <br /> <br /> <br />Evidence submitted by the county representative: <br />• The subject property is a 10th floor, penthouse condo, unit 1002, in Greenbridge <br />Condos located at 601 W Rosemary Street. in Chapel Hill. It is the largest unit in the <br />complex with 2,536 square feet, 2 bedrooms, and 3 baths. <br />• The other penthouse in this building, unit 1001 sold in 2020 (previous to this <br />revaluation cycle) for $1,200,000 as mentioned in the appeal. Another unit on the 6th <br />floor of the same building with 1,926 sf sold in January of 2024 for $1,200,000. With <br />the sale of the similar penthouse unit being 5 years ago and the sale of a smaller unit, 4 <br />floors lower each at $1,200,000, the market would suggest the subject would sell for <br />more. <br />• The County recommends a reduction in the construction modifier-design factor from <br />1.45 to 1.4 to be more equitable with the neighboring penthouse unit, resulting in a <br />reduction in value from $1,440,400 to $1,390,700. <br />• GIS Map <br />• Google Image <br />• Plat map <br />• Current Property Record Card <br />• Proposed Property Record Card <br /> <br /> <br />Motion of the Board Accept County's Proposed Value: $1,390,700 <br />Made the motion Saru Salvi <br />Seconded the motion Richal Vanhook <br />Voted For All BOER Members ... <br />Voted Against ... ... <br /> <br /> <br />Property Identification: <br /> <br />Property Owner Victor C. Fowler Appellant (if different) <br />Property Address 2615 Beavertail Drive Parcel ID or Abstract 9886080194 <br />Docusign Envelope ID: 288E0C02-CDC7-42EE-8ACF-A225778F48C2