Orange County NC Website
Browse       Search
Docusign Envelope ID:7407D742-46FF-40B4-9943-4A3D2B49D298 <br /> • As a result, the County recommends increasing the property's MKT -90%land adjustment to <br /> MKT-92%which will reduce the overall value of the subject from$269,600 to$223,200. <br /> • Location Map of Subject <br /> • Current Property Record Card(2 pages) <br /> • Proposed Property Record Card(2 pages) <br /> • Income Approach and Parcel Value Allocation Sheet <br /> Motion of the Board Accept Coun 's Proposed Value: $223,200 <br /> Made the motion Saru Salvi <br /> Seconded the motion Richal Vanhook <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 .08 acre on NC 54 Bypass Parcel ID or Abstract 9778734362 <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 $28,500 ounty Opinion $23,300 <br /> Time of Hearin 11:16 AM Appellant Opinion $19,442 <br /> County Representative Roger Gunn Board Decision $23,300 <br /> Evidence submitted by the appellant: <br /> • The subject is one of five parcels containing two apartment complexes owned by the same <br /> appellant and operated as one economic unit. Based on 2023 and 2024 financial documents, <br /> the collective indicated value for all five parcels is$33,433,471 with$19,442 attributable to <br /> this parcel. <br /> Evidence submitted by the county representative: <br /> • Like the appellant,the County analyzed the 5 parcels collectively as one economic unit and <br /> based on the County's income analysis as contained in the attached Income Approach and <br /> Parcel Value Allocation Sheet,the collective value of the five parcels is $40,001,542 with a <br /> value of$23,261 being attributable to the subject property. <br /> • As a result, the County recommends increasing the property's MKT -67%land adjustment to <br /> MKT-73%which will reduce the overall value of the subject from$28,500 to$23,300. <br /> • GIS Map of Subject <br /> • Current Property Record Card(2 pages) <br /> • Proposed Property Record Card(2 pages) <br /> • Income Approach and Parcel Value Allocation Sheet <br />