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Docusign Envelope ID: BE7173ED-52F6-47B6-A7EB-347CE2C7F857 <br /> Property Identification: <br /> Property Owner Nick Watts Properties Inc. A ellant(if different) <br /> Property Address 503-A West Main Street I Parcel ID or Abstract 19778673083 <br /> Statement of Appeal: Request collective reduction in value of two parcels based on an April 11,2024, <br /> appraisal. <br /> Current Assessed Value $1,074,600 County Opinion $245,000 <br /> Time of Hearing 10:54 AM Appellant Opinion Reduction in Value of PINs <br /> 9778673083 and 9778664904 <br /> collectively to$2,500,000. <br /> County Representative Roger Gunn Board Decision $245,000 <br /> Evidence submitted by the appellant: <br /> • The subject is one of two retail parcels owned by the same appellant. The appellant is <br /> requesting a reduction in value for the two parcels collectively to$2,500,000 based on an April <br /> 11, 2024, appraisal contained in the a ellant's documentation. <br /> Evidence submitted by the county representative: <br /> • The subject parcel is a 7,700 square foot parcel and contains a 7,500 retail building used as a <br /> fitness center in conjunction with the similar 12,780 square foot building of the same use on <br /> PIN 9778664904. The subject parcel would likely not be sold separately, as it contains no <br /> additional area for parking. Therefore, like the appellant,the County analyzed both parcels <br /> collectively. <br /> • The appraisal lists the estimated value of both parcels being$2,500,000 based on a total land <br /> valuation of$31.02 a square foot based on Mixed-Use Development as the concluded highest <br /> and best use. The County considers this a reasonable conclusion and as a result suggests the <br /> following changes to the subject property based on the County's schedule of values: change the <br /> land market adjustment from-30%to -44% and add 99%functional depreciation for design on <br /> the building as the current improvements do not represent the highest and best building use for <br /> the site. These recommendations would lead to a revised value of$245,000 for the subject <br /> property. <br /> • GIS Map of Subject <br /> • Current Property Record Card <br /> • Proposed Property Record Card <br /> Motion of the Board Accept Coun 's Proposed Value: $245,000 <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 /> Pro a Owner Nick Watts Properties Inc. A ellant if different <br /> Property Address 1503 West Main Street I Parcel ID or Abstract 19778664904 <br />