2025_10_22 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID: E1E12D4B-C73D-4424-8A3B-CE4FB0113F17 Current Assessed Value $333,900 County Opinion $296,100 Time of Hearin 4:35 PM Appellant Opinion $300,000 County Representative C le Anderson Board Decision $296,100 Evidence submitted by the appellant: • The appellant states that the subject property was purchased for$93,000. The appellant further contends that the adjacent property, located at 3708 Brockwell Road, is in such poor condition that it would significantly impact the potential resale value of the subject property. • As supporting evidence,the appellant submitted an offer-to-purchase letter dated April 29, 2025, from an investor offering $296,554.80 for the property. The appellant also included photographs of the adjacent property at 3708 Brockwell Road to demonstrate its alleged lack of maintenance. Evidence submitted by the county representative: • Property Summary and Recommendation: The subject property is a 1.54-acre tract improved with a 1,704-square-foot single-family residence located at 3714 Brockwell Road in Durham. The appellant reports that the property was purchased for$93,000; however,the County did not consider this sale, as it occurred in May 1996 and is therefore not reflective of current market conditions. • As supporting documentation,the appellant submitted an offer-to-purchase letter from an investor dated April 29, 2025, indicating an offer price of$296,554.80. The County contends that this offer does not represent true market value, as it originated from an investor seeking to acquire property at discounted rates. The appellant also asserts that the adjacent property at 3708 Brockwell Road is in poor condition and negatively impacts the subject property's resale potential. Several photographs of the adjacent parcel were provided in support of this claim. • The County conducted an on-site inspection for verification and documentation purposes. During this visit, staff spoke with the appellant and confirmed that the subject property does not have a well. A subsequent sales analysis of the neighborhood was performed. Based on the findings,the County recommends a-20%land adjustment to account for the lack of a well. Additionally,the County recommends revising the effective year built from 1997 to 1987 to better reflect the dwelling's observed condition. With these adjustments applied,the revised assessed value for the subject property is $296,100. • Subject Photo • GIS Aerial Photo • Sales Analysis(Subject Assessed Without Recommended Changes) • Sales Analysis(Subject Assessed With Recommended Changes) • Current Property Record Card • Proposed Property Record Card Motion of the Board Accept Coun 's Proposed Value: $296,100 Made the motion Saru Salvi Seconded the motion Richal Vanhook Voted For All BOER Members Voted Against