2025_12_02 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID:7407D742-46FF-40B4-9943-4A3D2B49D298 Property Identification: Property Owner CAN Associates LLC Appellant(if different) Debbie Askins, Ryan LLC Property Address 401 NC 54 Bypass Parcel ID or Abstract 9778548099 Statement of Appeal: Request reduction in value based on 2023 and 2024 financial documents income approach. Current Assessed Value $25,447,800 ounty Opinion $23,157,500 Time of Hearin 9:02 Appellant Opinion $19,800,000 County Representative Roger Gunn Board Decision $23,157,500 Evidence submitted by the appellant: • Based on 2023 and 2024 financial documents,the indicated value from the income approach is $14,719,328. Evidence submitted by the county representative: • Similar to other projects in this ownership entity,the owners have been investing into updating units and property and the December 2024 rent roll shows a 5%higher income than the effective gross income from 2024. Based on the information supplied by the appellant and the County's income approach analysis(see attached), the property has an estimated value of $23,205,492. • As a result, the county recommends applying an E 11 economic market adjustment to the property which would reduce the value of the property from$25,447,800 to$23,157,500. • GIS Map of Subject • Current Property Record Card(22 pages) • Recommended Property Record Card(22 pages) • Income Approach Calculation Sheet Motion of the Board Accept Coun 's Proposed Value: $23,157,500 Made the motion Richal Vanhook Seconded the motion Leon Meyers Voted For All BOER Members Voted Against Property Identification: Property Owner FWDA LLC Appellant(if different) Debbie Askins, Ryan LLC Property Address 1521 E. Franklin Street Parcel ID or Abstract 9799043366 Statement of Appeal: Request reduction in value based on 2022,2023, and 2024 financial documents income approach.