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<br /> <br /> <br />Time of Hearing 1:50PM Appellant Opinion $327,127 <br />County Representative Kelly Wells Board Decision $279,200 <br /> <br />Evidence submitted by the appellant: <br />• Recent purchase of this parcel (9787515200) , which was bought together with adjacent parcel <br />and house (9787513647) was executed at a sale price of $1,145,000 total for both parcels. <br />Assuming the same parcel: parcel ratio of value used in the Orange County Tax Appraisal, then <br />this parcel would have a market value of $327,127 per recent purchase price. <br /> <br /> <br />Evidence submitted by the county representative: <br />• The subject property is 3.83 acres of vacant land located off Old Orchard Road in Chapel Hill. <br />• The subject property sold with another property in May 2025 for $1,145,000 and an appraisal <br />was done for the lender at the time of the sale recommending a value of $1,030,000. Both the <br />sale and the appraisal are outside the scope of the revaluation dates. <br />• Based on physical attributes of the property, the County recommends adding an adjustment on <br />the land of -30% for access and the streams throughout the property resulting in a revised value <br />from $398,800 to $279,200. <br />• GIS Map <br />• Current Property Record Card <br />• Proposed Property Record Card <br /> <br /> <br />Motion of the Board Accept County's Proposed Value: $279,200 <br />Made the motion Leon Meyers <br />Seconded the motion Saru Salvi <br />Voted For All BOER Members ... <br />Voted Against ... ... <br /> <br /> <br />Property Identification: <br /> <br />Property Owner Silas Wong Appellant (if different) <br />Property Address 910 Old Orchard Road Parcel ID or Abstract 9787513647 <br /> <br />Statement of Appeal: Request a reduction in value based on an independent appraisal. <br /> <br />Current Assessed Value $995,900 County Opinion $855,700 <br />Time of Hearing 1:59PM Appellant Opinion $817,873 <br />County Representative Kelly Wells Board Decision $855,700 <br /> <br />Evidence submitted by the appellant: <br />• Recent appraisal of this home (9787513647) , which was bought together with adjacent <br />land parcel (9787515200) was determined to be $1,030,000 total for both parcels. Assuming <br />the same parcel: parcel ratio of value used in the Orange County Tax Appraisal, then this <br />parcel would have a value of $735,729 per third party appraisal. <br /> <br /> <br />Docusign Envelope ID: 9059FA55-A276-4268-BB65-E0BF0D9AD45E