2025_11_20 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID:67ADOF44-02C2-4953-B595-13B4C7134235 *Reducing the land by removing the market adjustment and adding a-20%to account for the Floor Area Ratio restriction on smaller lots resulting in an overall reduction in value from $624,800 ton$558,400. • Photo • GIS Map • Equity Analysis • Current Property Record Card • Proposed Property Record Card Motion of the Board Accept Coun 's Proposed Value: $558,400 Made the motion Barbara Levine Seconded the motion Saru Salvi Voted For All BOER Members Voted Against ... Property Identification: Property Owner James W. C. Pendergraft Appellant(if different) Trust Property Address 203 Caldwell Street Units Parcel ID or Abstract 9788281812 A&B Statement of Appeal: Request reduction in value based on comparable land valuations. Current Assessed Value $568,700 County Opinion $568,700 Time of Hearin 10:17 AM Appellant Opinion $275,000 land County Representative Kelly Wells Board Decision $568,700 No change in value Evidence submitted by the appellant: • The land value should be$275,000 to match surrounding comps. Evidence submitted by the county representative: • The subject property is a Duplex with a total of 1,926 square feet, 5 bedrooms and 3 baths built in 2019 on a .18-acre lot in Northside, Chapel Hill. • All Two-to-Four family and Designed Rental Single Family Residence (DRSFR)are receiving a+30%adjustment due to being approved for these uses and the properties'potential for greater income generation and value compared to single family homes with otherwise similar property characteristics. • During the BOER ordered neighborhood review, smaller lots in this neighborhood received a negative adjustment for the Floor Area Ratio restriction. This parcel's 30%adjustment was reduced to 10%for the current land value of$302,500 and total parcel value of$568,700. • Based on sales and equity,the County recommends no change in value.