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Docusign Envelope ID:79CD4405-B249-4821-8678-6848F09D893C <br /> • The current assessed value of$641,000 falls in line with the Appellants statement "This <br /> assessed value is similar to the actual sales value." <br /> • It is the appraisers position the current assessed value is appropriate and substantiated due to <br /> the purchase price in 2022 and a comparison to the sales in NBC 7480.No change is <br /> recommended. <br /> 1. Current&Recommended Property Record Card <br /> 2. Photos of Improvements <br /> 3. Maps -Location& GIS <br /> 5. Sales analysis for NBC 7480 <br /> Motion of the Board Accept Count 's Proposed Value: $641,500 No Change <br /> Made the motion Richal Vanhook <br /> Seconded the motion Shannon Julian <br /> Voted For <br /> Voted Against Saru Salvi <br /> Property Identification: <br /> Property Owner Jane F. Heaton Appellant(if different) <br /> Property Address 620 Martin Luther King Jr. Parcel ID or Abstract 9788394516.005 <br /> Boulevard, Unit 303 <br /> Statement of Appeal: Request reduction in value based on six equity comparable properties. <br /> Current Assessed Value $499,700 County Opinion $460,900 <br /> Time of Hearin 10:01 Appellant Opinion $460,000 <br /> County Representative Cyle Anderson Board Decision Continue for possible addition to <br /> consent agenda <br /> Evidence submitted by the appellant: <br /> • The appellant states that there are few comparable sales within the subject property's <br /> neighborhood. To support their opinion of value,the appellant provided six equity comparable <br /> properties. <br /> Evidence submitted by the county representative: <br /> • The subject property is a 1,382-square-foot condominium located at 620 Martin Luther King <br /> Jr. Boulevard, Unit 303,within the Gables Condominium project in Chapel Hill. The County <br /> reviewed the appellant's appeal and conducted an equity analysis of the comparable properties <br /> provided by the appellant. A sales report for the subject's condominium project,which consists <br /> of only sixteen units, indicated limited market activity. Since 2021, there has been only one <br /> comparable sale within the project—Unit 501—which was listed as an estate sale in November <br /> 2021 for$275,000 and sold in December 2021 for$312,500. According to MLS notes,the unit <br /> "needs TLC and updating"and was sold"as is."Due to the limited number of sales within the <br /> project, the County focused on equity comparable properties from the subject's broader <br /> neighborhood when reviewing this appeal. After analysis,the County recommends reducing <br />