2025_11_11 BOER Minutes - Laserfiche WebLink

Browse Search

2025, and supplied photos as supporting documentation. Lastly, the appellant provided a fee appraisal dated 4/22/2022 with an opinion of value of $978,000. Evidence submitted by the county representative: • The subject property is a 0.36-acre tract with a 3,306-square-foot single-family dwelling located at 105 Songbird Lane in Chapel Hill. County staff visited the property for physical verification and photos. The County also reviewed the appellant's supporting documentation, which included three recently sold properties and one equity comparable. • Two of the comparable sales required -15% lot size adjustments, reducing their adjusted lot assessments to $212,500. All three sales, as well as the equity comparable, reflected lower quality grades than the subject property. For this reason, these comparables were given limited consideration. The County also reviewed a sales analysis demonstrating significant volatility in price per square foot among neighborhood sales. These variations were primarily attributed to differing quality grades among dwellings. Accordingly, the County placed greater emphasis on the fee appraisal submitted by the appellant. • The appellant submitted a fee appraisal dated April 22, 2022, with an opinion of value of $978,000. County staff also reviewed the sale of the subject property in May 2022 for $1,102,000, noting it was originally listed on April 7, 2022, for $925,000. • After review, the County recommends the following changes: - Reduce the Quality Grade from AA to A+70 - Lower the Effective Year Built from 2017 to 2012 These adjustments would align the assessment more closely with the appellant's appraisal conclusions. • The appellant provided photos showing the property's condition as of January 1, 2025, and stated in the accompanying email that approximately 10–15% of the dwelling was under repair or renovation at that time. To reflect this, the County recommends applying a 15% Percentage Completion Remaining (PCR) adjustment to the dwelling. • With these proposed adjustments, the County recommends a revised assessed value of $950,900 for the subject property. • Photo of Subject • GIS Map • Appellant Email • Sales Analysis • Current Property Record Card • Proposed Property Record Card Motion of the Board Accept County's Proposed Value: $950,900 Made the motion Saru Salvi Seconded the motion Richal Vanhook Voted For All BOER Members ... Voted Against ... ... Property Identification: Property Owner Laura Wilson Appellant (if different) Property Address 103 Circadian Way Parcel ID or Abstract 9779162111 Docusign Envelope ID: 9059FA55-A276-4268-BB65-E0BF0D9AD45E