2025_12_18 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID: BE7173ED-52F6-47B6-A7EB-347CE2C7F857 Statement of Appeal: Request collective reduction in value of two parcels based on an April 11, 2024, appraisal. Current Assessed Value $1,576,600 County Opinion $2,242,700 Time of Hearing 10:59 AM Appellant Opinion Reduction in Value of PINs 9778673083 and 9778664904 collectively to$2,500,000 County Representative Roger Gunn Board Decision $2,242,700 Evidence submitted by the appellant: • The subject is one of two retail parcels owned by the same appellant. The appellant is requesting a reduction in value for the two parcels collectively to$2,500,000 based on an April 11, 2024, appraisal contained in the a ellant's documentation. Evidence submitted by the county representative: • The subject parcel is a 72,620 square foot parcel and contains a 12,780 square foot retail building used as a fitness center in conjunction with the similar 7,500 square foot building of the same use on PIN 9778673083. The subject parcel would likely not be sold separately, as that would leave no area for parking for PIN 9778673083. Therefore, like the appellant,the County analyzed both parcels collectively. • The appraisal lists the estimated value of both parcels being$2,500,000 based on a total land valuation of$31.02 a square foot based on Mixed-Use Development as the concluded highest and best use. The County considers this a reasonable conclusion and as a result suggests the following changes to the subject property based on the County's schedule of values: remove the E32 economic modifier adjustment on the parcel, change the land market adjustment from- 45%to -44%, and change 80%functional depreciation for design on the building to 99%and override the depreciation of the paving from 60%to 99% as well as the current improvements do not represent the highest and best building use for the site. These recommendations would lead to a revised value of$2,242,700 for the subject property. • GIS Map of Subject • Current Property Record Card • Proposed Property Record Card Motion of the Board Accept Coun 's Proposed Value: $2,242,700 Made the motion Richal Vanhook Seconded the motion Saru Salvi Voted For All BOER Members Voted Against ... Property Identification: Property Owner K Group LLC Appellant(if different) Jimmy Riley Controller/Re Property Address 511 Valley Forge Road Parcel ID or Abstract 9874318551 Statement of Appeal: Request reduction in value based on a February 8, 2024, appraisal. Current Assessed Value 1 $1,664,700 1 County Opinion 1 $1,460,800