2025_10_23 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID:79CD4405-B249-4821-8678-6848F09D893C Property Identification: Property Owner Beth Kurtz Costes Appellant(if different) Property Address 375 Tenney Circle Parcel ID or Abstract 19788791742 Statement of Appeal: Request reduction in value based on condition of house and land. Current Assessed Value $693,500 County Opinion $613,500 Time of Hearin 9:03 AM Appellant Opinion $530,000 County Representative Louise Benson- Board Decision $595,400 Lochner Evidence submitted by the appellant: • The Appellant filed a formal appeal on 4/28/2025. The Appellant noted detailed aspects of the condition of the home and site inadequacies as reasonings to lower the assessed value of the parcel. • No additional evidence e.g.photos,repair bids, comparable sales were provided. Evidence submitted by the county representative: • On October 9, 2025, a drive-by site visit was performed by the County and an exterior photo was taken of the residence. A drive-by evaluation is considered to be a sufficient review due to the evidence provided by the Appellant along with public information and the nature of the appeal. The property appears in the image to be grown over,but the owner has chosen to grow vegetables and fruit in lieu of a manicured yard. • Appraiser observations and recommendations: • HOME- • The Subject home was built in 1952. It currently has an Effective Year Built of 1962 (63-years-old). Due to a lack of upgrades, the current Effective Year Built is appropriate. No change is recommended. • The Appellant noted but did not provided evidence that the home was appraised for insurance purposes for$319,000. The current assessed value for the home is$333,500 which falls into the general range of the noted insurance value. • LAND- • The subject is located in a historic neighborhood in Chapel Hill with high demand.NBC 7170 is lot priced at$400,000 per site. The subject lot size of 0.59 acres is smaller than the average size of 0.87 acres. As the Appellant noted,the lot is narrow for rebuilding(100' wide), has a steep slope at the rear, and due to limited road access, it has a driveway located on the adjoining property. Currently there is a-10% land adjustment for access, this results in a-$40,000 adjustment. It is recommended that this be removed, and instead apply a Market Adjustment of-30%. The recommended adjustment would reflect the combination of the negative land factors for access, size, shape,topography. This would be a net adjustment of-$80,000, for a total adjustment of$120,000,yielding an assessed value of$280,000 for the land. • COMPS -