2025_10_15 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID:360B6188-lA59-4lB3-B839-FE17A47C9C50 • The subject is a 1,251 square foot,two-bedroom, 2 bath unit in the Rosemary Village Condominiums project. The subject is a rental unit and per the appellant's prior 2025 informal appeal derived rental income of$26,687.66($2,223.97average per month) in 2024. • Based on the appellant's submitted documentation,the County recommends reducing the effective year built to 2005 to match the actual year built,change the condition from Average to Fair, and apply an additional 10%physical depreciation for deferred maintenance issues. • These recommended adjustments would reduce the valuation of the subject to$395,200. • While no sales or equity analyses were performed for this appeal,the County has included qualified sales in the subject neighborhood from 2021-2024 that illustrates the proposed valuation is well below sales prices of similar sized units. • Photograph of Rosemary Village Condos • Location Map of Subject • Current Property Record Card of Subject • Proposed Property Record Card of Subject • Sales in Rosemary Village 2021-2024 Motion of the Board Accept Count 's Proposed Value: $395,200 Made the motion Shannon Julian Seconded the motion Richal Vanhook Voted For All BOER Members Voted Against Property Identification: Property Owner Bruce Jay Isaacs Trustee TAppeRant(if different) Property Address F208 Della Street Parcel ID or Abstract 19779384631 Statement of Appeal: Request a reduction in value based on the condition and size of the home. Current Assessed Value $692,000 ounty Opinion $689,700 Time of Hearin 3:48PM Appellant Opinion $575,000 County Representative Heidi Whetzel Board Decision $689,700 Evidence submitted by the appellant: • The appellant is appealing based on the size and condition of his home. He states that surrounding homes have sold for approximately one million dollars;however,he contends that his home is smaller and in different condition compared to others and therefore not worth the current assessed value. The house has 2.5 baths not 3 full baths. Evidence submitted by the county representative: • The subject property is located at 208 Della Street in Chapel Hill. A site inspection was conducted on August 14, 2025. The home appeared to be in average condition. • The County recommends correcting the bath count from 3 full baths to 2.5 baths.