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Docusign Envelope ID: DDD996A4-9AEB-4186-AE75-797CE2829130 Property Identification: Property Owner Dumitru Adrian Ilie Appellant(if different) Property Address 1 105 Arbutus Place I Parcel ID or Abstract 19787970735 Statement of Appeal: Request reduction in value based on comparable land values and parcel size. Current Assessed Value $417,200 ounty Opinion $385,200 Time of Hearin 9:02PM Appellant Opinion $385,200 County Representative Scott Zeman Board Decision $385,200 Evidence submitted by the appellant: • Our neighbor's property at 100 Arbutus PI has had its land value reduced by$32,000 from $240,000 to $208,000 after an informal appeal(Parcel ID 9787973588,before and after appraisals attached). Our land value has remained unchanged at$240,000. • Additionally, our land size is almost half the size of our neighbor's (0.06 vs. 0.1 acres). Parcels located mere feet from each other should have similar valuations and benefit from similar reductions. Consequently, our land value should similarly decrease by at least$32,000 or more to account for the difference in size. • This would bring our total property value to at most$385,200,which is still a significant 48% increase. Such an increase would be closer to the 43%average increase for Chapel Hill instead of the 61%increase as it stands now. Evidence submitted by the county representative: • The subject property is a 1,632-square-foot townhouse in the Woods at Laurel Hill development. The property was reviewed by Tanner Valuation Group. • Appraiser observations and recommendations: 1. GRADE: The residence has a grade of B-15. No change to grade is recommended. 2. AGE: The residence was built in 1984 and has an effective year built of 1984. The effective age indicates no major renovations to the property.No change to effective year built is recommended. 3. CONDITION: The residence is currently in Average condition.No change to condition is recommended. 4. LAND VALUE: The lot values in this development range from$208,000 to $240,000 depending on lot size. Interior townhouse units have smaller lots than the exterior units. The subject property currently has a lot value of$240,000 despite being an interior unit with a smaller lot. The county recommends revising the land value to $208,000. 5. SALES ANALYSIS: The county conducted a sales analysis of four sales from Sycamore Run, a nearby townhouse neighborhood on Mallard Court. The analysis determined a median sale price per square foot of$265. The county's proposed value for the subject property would be $236 per square foot. Sycamore Run townhouses are duplex style with a slightly higher construction quality than the subject, so this difference in value is appropriate. • The county recommends the subject property be valued at$385,200 with the revised land value. • Photos of subject • Appellant evidence • County sales analysis • Current Property Record Card