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Docusign Envelope ID:40462423-CB48-41E6-989B-17C70C3813D3 <br /> • Sales Analysis <br /> • Equity Analysis <br /> • Current Property Record Card <br /> Motion of the Board Accept Count 's Proposed Value: $268,200 No Change in Value <br /> Made the motion Leon Meyers <br /> Seconded the motion Richal Vanhook <br /> Voted For All BOER Members <br /> Voted Against ... <br /> Property Identification: <br /> Property Owner Hugh D. Proctor III Appellant(if different) <br /> Property Address 1214 Arborgate Circle Parcel ID or Abstract 9890605507.136 <br /> Statement of Appeal: Request a reduction in value based on comparable sales. <br /> Current Assessed Value $370,200 ounty Opinion $352,500 <br /> Time of Hearin 3:37PM Appellant Opinion $340,000 <br /> County Representative C le Anderson Board Decision $352,500 <br /> Evidence submitted by the appellant: <br /> • The appellant listed five comparable sales in the subject property's neighborhood as supporting <br /> evidence with this appeal. <br /> Evidence submitted by the county representative: <br /> • The subject property is a 1,371 square foot condo,with a garage, located at 1214 Arborgate <br /> Circle, in the Providence Glen Condominium project,in Chapel Hill. The appellant listed five <br /> comparable sales in the subject property's neighborhood as supporting evidence with this <br /> appeal. One comparable sale, 1414 Arborgate Circle,was unqualified as an investor sale in <br /> October of 2024,while two of the five occurred after the reappraisal date of January 1, 2025. <br /> The County analyzed the two remaining sales,which were both qualified sales that sold in <br /> 2024. The County also analyzed several other recent comparable sales in the subject's <br /> condominium complex, all of which were similar in square footage to the subject property. <br /> After review, the County recommends applying a 0.95%construction modifier to the <br /> residence. This recommended change would reduce the subject property's assessment to <br /> $352,500,bringing the assessment in line with the comparable sales submitted by the <br /> appellant. The subject property's lower price per square foot in the County's analysis, which is <br /> comprised of similar sized units, account for the subject having fewer upgrades, as its effective <br /> year built is set to the actual year built of 2005. The County recommends a revised assessment <br /> of$352,500 for the subject property. <br /> • GIS Map <br /> • Sales Analysis <br /> • Sales Analysis of Appellant's Comparable Sales <br /> • Current Property Record Card <br /> • Proposed Property Record Card <br />