2025_11_13 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID:ADDFB1EB-BBE4-4481-9F18-1365FOBA00KE To move into recess 1:11 PM,2:45 PM Saru Salvi Richal Vanhook To return to order 1:51 PM,2:53 PM Leon Meyers Saru Salvi Related meeting notes: Leon Myers recused himself from 9883345764 and 9883346573 due to the appellant being his neighbor. Richal Vanhook chaired for these two appeals only. Property Identification: Property Owner I Ying K. Lau Appellant(if different) Property Address 501 Lakeshore Lane Parcel ID or Abstract 19890007684 Statement of Appeal: Request reduction in value based on condition of house and calculations from comparable properties. Current Assessed Value $740,300 1 ounty Opinion 1 $614,000 Time of Hearin 1:08 PM I Appellant Opinion $560,000 County Representative Jimmy Milliken I Board Decision $614,000 Evidence submitted by the appellant: • It's challenging to find comparable sale of a house in the property's neighborhood that was in comparable dilapidated condition. 2152 Lakeshore Court(about 90 yards from the property), was sold at$210.83/square foot on 8/15/2023 and did not have the structural/foundational problems the property has, came close. Multiplying $210.83 by the 2,837 square-feet at 501 Lakeshore Lane("property")results in an estimated value of$598,125. The need to fix the property's foundational and structural problems renders any attempt to renovate impractical and too costly. To completely rebuild, after fixing the settling foundation, consequently,is the sensible and most cost-effective thing to do for the property. This necessarily makes the estimated value higher than the Owner Opinion Value of$560,000,considering the escalating cost to rebuild. • The condition of the building as described in the Property's 'BUILDING(1)' as "Fair." It should have been"Worse than Poor" as stated in the 2021 Appeal. After Ms.Heidi Whetzel's review of the 2021 Appeal,the Property's Total Market Value ("TMV")was reduced from $523,100 to $459,400. It was the third consecutive reduction. The 2017 Appeal reduced the TMV from $491,000 to $477,000 and the 2009 Appeal, for which Mr. Ray Jordan came on 4/27/2009 to appraise the Property, reduced the TMV from$569,416 to $478,466.And the condition of the building has been deteriorating relentlessly. Prolonged settling caused 1.5-inch crack in the foundation and large fissures in exterior walls. Leaking roof,termite infestation, dry rots in the attic and sidings,rotten fascia, and soffit,torn and broken gutter,broken and cracked windows,not to mention peeling paint,make the Property extremely dilapidated. Evidence submitted by the county representative: • The subject property is located at 501 Lakeshore Lane. It was constructed in 1970 and contains approximately 2,837 square feet of living area.