2025_10_09 BOER Minutes - Laserfiche WebLink

Browse Search

Docusign Envelope ID:C8E723E3-2B12-40AF-B37E-6AE9409FEA45 Evidence submitted by the appellant: • I'm writing to request a reduction in Assessed Value for the above referenced parcel from $4,252,800 to below$2,000,000. This parcel's assessed value is inconsistent with assessments of similar properties and is based on the potential future use of the site instead of the existing use of the site as of January 1, 2025. Evidence submitted by the county representative: • The subject is a.69 acre parking lot with frontage on both Mallette Street and Keenan Street. Per the County's commercial property appraisal consultant review,this appeal uses another "pieces and parts"equity argument. This was previously discussed in depth in regard to the appeal of 9778-66-6947 (501 W. Main Street). Grabbing an improved property land allocation from nearby for an appeal of land only is not"apples to apples" as the properties are fundamentally different. They also look at a tiny parking lot on Graham Street that is owned by the Town. That has 3 issues. 1.)Town owned properties are tax exempt, and may not be valued at their market value,thus also not"apples to apples". 2.)Graham Street is further from Campus and thus less attractive for student housing. 3.) The parking lot is much less developable in size and dimensions. Overall,there is very scant evidence to support the appeal. No real sales are provided, and the equity argument does not contain enough depth to have merit. • The County has provided a number of land sales in Chapel Hill and Carrboro from 2022-2024 that illustrates the subject's $141.50 value per square foot is well within range of indicated sales prices from the provided land sales. As a result,no adjustment to the current value is supported. • Photograph of Subject • Location Map of Subject • Current Property Record Card of Subject • Comparable Land Sales Appraisal Worksheet Motion of the Board Accept Count 's Proposed Value: $4,252,800 No Change in Value Made the motion Saru Salvi Seconded the motion Richal Vanhook Voted For All BOER Members Voted Against Property Identification: Property Owner Joseph P. Saponaro Appellant(if different) Property Address 2208 New Hope Drive Parcel ID or Abstract 9882026124 Statement of Appeal: Request a reduction in value based on an independent appraisal. Current Assessed Value $363,100 County Opinion $353,700 Time of Hearin 2:12PM Appellant Opinion $301,000 County Representative Jimmy Milliken Board Decision $353,700 Evidence submitted by the appellant: