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Docusign Envelope ID:67ADOF44-02C2-4953-B595-13B4C7134235 <br /> County Representative I Roger Gunn Board Decision $675,800 <br /> Evidence submitted by the appellant: <br /> • "The assessment value($444,700 ->$755,800)is an increase of 69.5%above the 2024 tax <br /> value of$444,700. That increase in value is $371 per square foot. The average cost for new <br /> construction in North Carolina in 2025 is $180 -> $250 per square foot. The most recent <br /> comparable sales available(2024)using the Orange County Comper web site price from <br /> $398,000-> $499,000. Using other online sites (Zillow,Redfin,Realtor, and Trulia)the <br /> estimated value ranges from$590,484 ->$722,500. At the current tax rate of.007304 per <br /> dollar tax value that is an increase of$1,029 in property taxes for 2025. This is a 22.9% <br /> increase from 2024 ->2025. The highest increase prior to this was 11.7%in 2021." <br /> • The appellant also supplied several Orange County sales from 2024 and 2025 as well as a <br /> Zillow estimate to support his opinion of value. <br /> Evidence submitted by the county representative: <br /> • The subject is a 1987 2-story residence containing 2,037 square feet situated on 1.61 acres at <br /> the end of Arrowhead Trail on Lake Orange. Most of the sales provided by the appellant were <br /> either not time relevant, having occurred in 2025 or not comparable due to their non-lake <br /> locations in other areas of the county. However, upon review of the property and the <br /> appellant's submitted evidence,the County recommends adjusting the waterfront <br /> adjustment from +200 to+150 to account for the rear portion being in a flood plain. The <br /> County also recommends adjusting the effective year built from 2002 to 1997, a 10-year <br /> difference from its 1987 actual age. These recommended adjustments would reduce the <br /> valuation from $755,800 to $675,800. <br /> • GIS Map <br /> • Current Property Record Card <br /> • Proposed Property Record Card <br /> Motion of the Board Accept Coun 's Proposed Value: $675,800 <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 Mastin Holdings LLC Appellant if different Adam Brown <br /> Property Address 434 Mason Street Parcel ID or Abstract 9788095175 <br /> Statement of Appeal: Request reduction in value based on comparable property quality/grade. <br /> Current Assessed Value $551,500 ounty Opinion $503,700 <br /> Time of Hearin 10:32 AM Appellant Opinion $486,200 <br /> County Representative Kelly Wells Board Decision $503,700 <br />