2025_10_08 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID:C1C9D8C0-856C-4210-8FBB-3D5A9118D2E3 • The subject is a State Employees Credit Union branch bank built in 1999 and containing 6,163 square feet of gross building area. An analysis of the appellant's evidence by the County and the county's commercial appraiser consultant found the appellant's representative only uses comps from outside the Triangle area and that is not appropriate. Some of the highest values in the Triangle are found in Orange County. The area is very desirable for banks and there have been a number circling for years looking for a good Chapel Hill/Carrboro location,but the entitlement process(especially for a drive-thru)is very,very difficult. All the appellant's sales are assessed below the average of the sales the County has identified. The idea that Orange County does not contain primary market pricing is a deeply false narrative. The County does not believe a reduction to the current assessed value is supported. • Photograph of Subject • Location Map of Subject • Current Property Record Card of Subject • Comparable Sales for Subject Motion of the Board Accept Count 's Proposed Value: $2,089,700 No Change in Value Made the motion Richal Vanhook Seconded the motion Saru Salvi Voted For All BOER Members Voted Against Property Identification: Property Owner State Employees Credit Appellant(if different) Tom Berry Union Property Address 110 S. Elliot Road Parcel ID or Abstract 9799144784 Statement of Appeal: Request a reduction in value based on comparable bank sales. Current Assessed Value $1,197,600 ounty Opinion $1,197,600 Time of Hearin 2:17PM Appellant Opinion $816,000 County Representative Roger Gunn Board Decision $1,197,600 Evidence submitted by the appellant: • Bank sales within 40 miles of Orange County excluding Orange,Wake, and Durham Counties support a lower valuation. Evidence submitted by the county representative: • The subject is a State Employees Credit Union branch bank built in 1982 and containing 4,052 square feet of gross building area. An analysis of the appellant's evidence by the County and the county's commercial appraiser consultant found the appellant's representative only uses comps from outside the Triangle area and that is not appropriate. Some of the highest values in the Triangle are found in Orange County. The area is very desirable for banks and there have been a number circling for years looking for a good Chapel Hill/Carrboro location,but the entitlement process(especially for a drive-thru)is very,very difficult. All the appellant's sales are assessed below the average of the sales the County has identified. The idea that Orange