2025_12_10 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID:2AE380D6-CCFA-4E2C-9964-9023855FBC51 • GIS Map Motion of the Board Value Changed as Follows: $393,700 Made the motion Leon Meyers Seconded the motion Saru Salvi Voted For All BOER Members Voted Against Property Identification: Property Owner Kimberly Y. Fearrington Appellant(if different) Andrew Simpson Property Address 117 S. Graham Street Parcel ID or Abstract 19788152524 Statement of Appeal: Request reduction in value based on position that valuation exceeds fair market value, comparable properties, condition, and neighborhood vertical equity concerns. Current Assessed Value $486,900 ounity Opinion $411,200 Time of Hearin 12:41PM Appellant Opinion $313,950 County Representative Jimmy Milliken Board Decision $300,700 Evidence submitted by the appellant: • To Whom It May Concern: o This firm represents Ms. Annie Fearrington in this appeal of the 2025 assessed valuation for her property at 117 S. Graham Street in Chapel Hill. The County initially assigned a value of$559,000 to the parcel, which was later reduced to $486,900 following informal appeal. We respectfully submit that the current valuation continues to significantly exceed the fair market value of the property as of January 1,2025, and is inconsistent with comparable properties and market evidence. Based on recent comparable sales data, the property's actual condition, and vertical equity considerations within the County's assessment system, we respectfully request that the assessed value be reduced to $313,950. • Hudson Vaughn was called as a witness and presented evidence on behalf of the appellant. Evidence submitted by the county representative: • The subject property is located at 117 South Graham Street in NBC 7120,which carries a lot value of$360,000. The home was built in 1954 and contains 975 square feet of living area.. • Staff reviewed the sales submitted by the appellant and noted the following neighborhood code differences: 0 117 Creel Street and 310 Crest Street are located in NBC 7130, which has a lot value of $180,000. 0 110 Eugene Street is located in NBC 7134,which is lot-valued at$250,000. • These differing NBCs and associated land values impact comparability and valuation outcomes. • A site visit was conducted to evaluate the subject property's condition. Based on the observations, staff recommend the following adjustments: o Adding an additional physical depreciation of 50% for having additional deferred maintenance.