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Docusign Envelope ID: D7A42408-4C36-41C1-8448-91E05F4708CF <br /> a fee appraisal with a retrospective effective date of December 31, 2024, and an opinion of <br /> value of$2,850,000. <br /> • County staff reviewed the appraisal and focused primarily on Comparable Sale One, as it is <br /> located within Chapel Hill's Historic District and is most similar to the subject in terms of <br /> market appeal, despite its smaller site size of 1.20 acres. The appraiser applied a$129,500 <br /> adjustment for the acreage difference; however,this adjustment is likely offset by Comparable <br /> One's superior location on Franklin Street in Chapel Hill. Comparable Sale Two is a 34-acre <br /> tract, substantially larger than the subject. Comparable Sale Three is an irregularly shaped lot <br /> located in a less desirable area of Hillsborough. Comparable Sale Four is located within <br /> Hillsborough's Historic District but consists of a significantly smaller site,with only a minimal <br /> adjustment of$100,500 applied for the approximately four-acre size difference. Comparable <br /> Sales Five and Six are larger tracts but are located in less desirable areas when compared to the <br /> subject property. <br /> • After review, County staff recommends the following changes: <br /> - Add US50 to the third floor of the subject dwelling <br /> - Reduce the bathroom count from 6.1 to 5.1 <br /> - Apply a-20%land adjustment for shape <br /> - Reduce grade on Card 1 from AA to A+30 <br /> - Reduce the Effective Year Built from 2014 to 1994 <br /> - Reduce grade on Card 2 from A+5 to B-10 <br /> • These proposed changes result in a revised assessed value of$3,292,600 for the subject <br /> property. <br /> • Photo of Subject <br /> • GIS Map <br /> • Comp#3 GIS Map <br /> • Current Property Record Card <br /> • Proposed Property Record Card <br /> Motion of the Board Value Changed as Follows: $2,922,700 (influenced by fee <br /> appraisal—additional -20%market <br /> adjustment <br /> Made the motion Leon Meyers <br /> Seconded the motion Saru Salvi <br /> Voted For All BOER Members <br /> Voted Against <br /> Property Identification: <br /> Property Owner I Xudong Sui Appellant(if different) <br /> Property Address 16157 Moinear Ln Parcel ID or Abstract 19881263271 <br /> Statement of Appeal: Request reduction in value based on recent purchase price and comparable <br /> properties. <br /> Current Assessed Value $1,391,100 County Opinion $1,391,100 <br /> Time of Hearin 9:50 AM Appellant Opinion $1,071,630 <br /> County Representative Jimmy Milliken Board Decision $1,363,600 <br />