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Docusign Envelope ID:7407D742-46FF-40B4-9943-4A3D2B49D298 <br /> Statement of Appeal: Request reduction in value based on 2022,2023, and 2024 financial documents <br /> income approach. <br /> Current Assessed Value $17,120,100 ounty Opinion $16,255,700 <br /> Time of Hearin 11:04 AM Appellant Opinion $12,109,000 <br /> County Representative Roger Gunn Board Decision $16,255,700 <br /> Evidence submitted by the appellant: <br /> • Based on 2022,2023, and 2024 financial documents, the indicated value from the income <br /> approach is $12,109,000. <br /> Evidence submitted by the county representative: <br /> • Like other properties under this ownership entity,the owners have been investing in capital <br /> expenditures to keep the property competitive. The appellant supplied rent roll indicates rent <br /> increasing for 2025. Based on the information supplied by the appellant and the County's <br /> income approach analysis (see attached), the property has an estimated value of$16,325,602. <br /> • As a result, the county recommends increasing the E01 economic market adjustment on the <br /> property to E06 which would reduce the value of the property from$17,120,100 to <br /> $16,255,700. <br /> • GIS Map of Subject <br /> • Current Property Record Card(18 pages) <br /> • Proposed Property Record Card(18 pages) <br /> • Income Approach Calculation Sheet <br /> Motion of the Board Accept Coun 's Proposed Value: $16,255,700 <br /> Made the motion Richal Vanhook <br /> Seconded the motion Saru Salvi <br /> Voted For All BOER Members <br /> Voted Against <br /> Property Identification: <br /> Property Owner RP Barnes LLC Appellant(if different) Debbie Askins, <br /> Ryan LLC <br /> Property Address 501 NC 54 Bypass Parcel ID or Abstract 9778731754 <br /> Building A Unit 1 <br /> Statement of Appeal: Request reduction in value based on 2023 and 2024 financial documents' <br /> collective indicated value of five parcels containing two apartment complexes owned by the same <br /> appellant and operated as one economic unit. <br /> Current Assessed Value $26,187,700 ounty Opinion $21,381,800 <br /> Time of Hearin 11:16 AM Appellant Opinion $17,864,597 <br /> County Representative Roger Gunn Board Decision $21,381,800 <br />