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Docusign Envelope ID:67ADOF44-02C2-4953-B595-13B4C7134235 <br /> • GIS Map <br /> • Equity Analysis <br /> • Current Property Record Card <br /> • Proposed Property Record Card <br /> Motion of the Board Accept Coun 's Proposed Value: $564,000 <br /> Made the motion Barbara Levine <br /> Seconded the motion Saru Salvi <br /> Voted For All BOER Members <br /> Voted Against ... <br /> Property Identification: <br /> Property Owner James W. C. Pendergraft Appellant(if different) <br /> Trust <br /> Property Address 602 Church Street Parcel ID or Abstract 9788189675 <br /> Statement of Appeal: Request reduction in value based on comparable land values and property rental <br /> designation. <br /> Current Assessed Value $624,800 ounty Opinion $558,400 <br /> Time of Hearin 10:15 AM Appellant Opinion $275,000 land <br /> County Representative Kelly Wells Board Decision $558,400 <br /> Evidence submitted by the appellant: <br /> • Land value should be $275,000 to match surrounding comps. <br /> • The 4 property units built by us are single unit 4-bedroom homes. They were not designed for <br /> rental homes. <br /> • They certainly can be rented to a single person, family,or students. <br /> Evidence submitted by the county representative: <br /> • The subject property is 1,835 square foot,4 bedrooms and 3 baths home built in 2017 in the <br /> Northside neighborhood in Chapel Hill. <br /> • All Two-to-Four Family and Designed Rental Single Family Residence (DRSFR) are receiving <br /> a+30%adjustment in this neighborhood due to being approved for these uses and the <br /> properties'potential for greater income generation and value compared to single family homes <br /> with otherwise similar property characteristics. <br /> • During the BOER ordered neighborhood review, smaller lots in this neighborhood received a <br /> negative adjustment for the Floor Area Ratio restriction. This parcel's 30%adjustment was <br /> reduced to 10%for the current land value of$302,500 and total parcel value of$624,800. <br /> • Although the bedroom and bath count could be considered atypical for a 1,835 square foot <br /> home, it is common in this neighborhood and area. <br /> • Based on equity, The County recommends changing the: <br /> *Building type from DRSFR to Single Family, <br /> *Increasing the grade from C+10 to A to account for the bed and bath count and quality, <br />