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<br /> <br /> <br />the land for both parcels compared to $700,000 that was assessed for tax purposes across both <br />parcels. <br /> <br /> <br />Evidence submitted by the county representative: <br />• The subject property is a vacant lot located in NBC 7460 (Forest Creek) at 108 Old Forest <br />Creek Drive. <br />• The parcel was included in an appraisal prepared for lending purposes that combined 108 and <br />112 Old Forest Creek Drive under a single valuation. The lending contract is dated September <br />25, 2023, with an effective appraisal date of October 3, 2023. The appraisal assigns a combined <br />value of $150,000 for both lots and references one listing for the subject property and one for <br />112 Old Forest Creek Drive (0.35 acres / 15,246 square feet). The report does not provide <br />specific details or a separate valuation for the subject parcel alone, nor any support for the <br />$150,000 combined land valuation. <br />• A sales analysis of County records was completed to support existing land values, along with a <br />review of the comparable sales used in the submitted appraisal to compare land valuation <br />trends across Orange County. <br />• Per Orange County Register of Deeds, the properties are not legally combined and are <br />therefore valued individually in accordance with the County’s Schedule of Values. <br />Additionally, because this was a multi-parcel sale, it is classified as an unqualified sale and not <br />used as a primary indicator of market value. <br />• Lots within NBC 7460 are currently assigned a base land value of $350,000, and the subject <br />property has been valued accordingly. Based on the supporting documentation and analyses, <br />the County recommends no change to the current assessed value. <br />• Sales analysis <br />• Appraisal analysis <br />• Maps <br />• NBC Analysis Report <br />• Current Property Record Card <br />• GIS Map <br /> <br /> <br />Motion of the Board Accept County's Proposed Value: $350,000 No Change in Value <br />Made the motion Leon Meyers <br />Seconded the motion Richal Vanhook <br />Voted For ... ... <br />Voted Against Saru Salvi ... <br /> <br /> <br />Property Identification: <br /> <br />Property Owner Silas Wong Appellant (if different) <br />Property Address Unimproved 3.83 acre <br />parcel on Old Orchard <br />Road <br />Parcel ID or Abstract 9787515200 <br /> <br />Statement of Appeal: Request a reduction in value based on an independent appraisal. <br /> <br />Current Assessed Value $398,800 County Opinion $279,200 <br />Docusign Envelope ID: 9059FA55-A276-4268-BB65-E0BF0D9AD45E