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2025_12_11 BOER Minutes
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2025_12_11 BOER Minutes
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12/11/2025
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Regular Meeting
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Advisory Bd. Minutes
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Docusign Envelope ID: EFC2B295-7589-48A0-88CA-A5037E1D20D9 <br /> on the fact of being compared to homes that have effective year built dates 16 to 25 years later <br /> than our home and other variables including renovation status, storm water runoff remediation <br /> needs, and current economic concerns. There were no obvious adjustments for comparison <br /> when homes have had significant remodeling vs.homeowners who are just trying to keep their <br /> homes safely maintained. We believe that the values are not taking into consideration the <br /> challenges of storm water runoff control needed for many of these homes to be able to sell <br /> near valuation which is at risk for increased challenge with the amount of building going on. <br /> Chantal has given us a glimpse of that! We have been working on stormwater control <br /> measures, which is a growing concern and estimate there will be many thousands of dollars <br /> for the optimal control measures. We did not see any homes actually similar to ours that sold <br /> in 2024 in the comparable based on effective year, square footage,number of stories (none for <br /> example were single story), or number of bathrooms. This doesn't even take into account the <br /> level of remodeling which may have exceeded ours. As far as trying to compare, the closest <br /> comparable in the last year I could find 9779621954 had over 400 additional square feet, <br /> another one and a half stories, another bedroom and another half bath with a modern kitchen <br /> and fresh wood floors(based on Zillow pictures). Understandably it had a higher value but if <br /> we extrapolated to add over 400 square feet, another one and a half stores, another bedroom <br /> and another half bath with a modern kitchen and fresh wood floors (based on Zillow pictures) <br /> to our home, I'm sure it would cost more than the approx. 72K difference in the valuation and <br /> hence If we subtracted those items from their value of 549 K,I think we would find a value of <br /> significantly less than the 477K. Comparables in this neighborhood are complex due to <br /> variation in bedrooms,bathrooms,habitability of lots, square footage and modernization. As <br /> we look around Spring Valley,we see that many of the homes have had windows replaced and <br /> kitchen, bathroom, added decks/porches and renovations/rebuilds.Although we do take care <br /> of our home and though we would like to do these neighbor comparable upgrades, we are <br /> currently senior citizens living on fixed incomes and cannot make all these upgrades at this <br /> point in time. Our likely next projects will involve window replacement if we can figure out a <br /> way to afford that. This is something visible from the exterior and can easily cost us 10,000 if <br /> we hope to have comparable windows. We priced this about two or three years ago so it has <br /> undoubtedly increased. And as mentioned the storm water control measures are an ongoing <br /> home improvement cost we would need to make the price tag worthy of the valuation. As <br /> noted in our earlier appeal, the comparable on the comper site of sales in the last six months <br /> had effective build dates at least 20 years younger than ours 1984 vs.their 2005 (117 <br /> Creekview and 604 Bolin)and 2010(1538 Pathway). The actual build dates were nine years <br /> later on two of the three. These homes were from 33%to 162%larger than ours so obviously <br /> not good references for value of my home in any fashion. Among the sales within 10 miles on <br /> comper, we did not find any comparable sales in the last year that were within 100 square feet <br /> of our home but were surprised to find land value of land with lots sized twice as much as our <br /> lot also being valued at 275K e.g. 604 Bolin Creek To find better benchmarks,we looked at <br /> nearby homes with recent sales info in homes that still exceed the size/condition of our home <br /> but priced closer that are valued significantly below the value of our valuation. According to <br /> Zillow,these other 3 bedroom/2 bathroom Carrboro single family residence homes within 100 <br /> square feet of our home that are newer and larger than ours and in better condition sold under <br /> the revaluation of our property within the last three months of our earlier appeal: 402 Berryhill <br /> Drive(brick 1472 square feet) sold for 400K on 3/14/25 129 Weatherhill Pt in Carrboro sold <br /> for$450K on 3/28/25 -another larger(1518 sq feet), newer home(built in 92) <br /> • We love our home and the location and are proud to be in an appreciating neighborhood in <br /> every sense of the word. We hope we can continue to afford to live here which includes our <br /> ability to pay taxes,which of course is directly tied to valuations. Hence,we want to make <br /> sure we have the most reasonable valuation. We know Orange County values affordable <br /> housing and has looked at sites for building. Affordable housing also means that current <br />
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