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Docusign Envelope ID: BE7173ED-52F6-47B6-A7EB-347CE2C7F857 <br /> Time of Hearin 11:06 AM Appellant Opinion $1,440,000 <br /> County Re resentative Roger Gunn Board Decision $1,460,800 <br /> Evidence submitted by the appellant: <br /> • The appellant's opinion of value is based on a February 8,2024 appraisal. <br /> Evidence submitted by the county representative: <br /> • The subject property is a 12,000 square foot flex industrial building constructed in 1987 on <br /> 1.53 acres of land, located in Hillsborough. <br /> • The County's Appraisal Consultant states: The appellant has presented sufficient evidence in <br /> the form of an appraisal. The value"As-Is" indicated in the appraisal was $1,440,000 or$120 <br /> per square foot as of February 8,2024. As shown in the attached graph in the Analysis, <br /> industrial properties within the Durham-Chapel Hill MSA have seen decent appreciation over <br /> the course of 2024. Given that date of the market value was earlier in the year, 3%appreciation <br /> is applied, yielding an adjusted assessed value of$1,483,200. This value gives weight to the <br /> evidence provided by the appellant,while considering appreciation that has occurred between <br /> the date of the appraisal and the revaluation date. <br /> • Based on this recommendation, The County recommends reducing the grade from A+80 to <br /> A+45 resulting in a reduction in value from$1,664,700 to$1,460,800. <br /> • GIS Map of Subject <br /> • Current Property Record Card <br /> • Proposed Property Record Card <br /> • Appreciation Graph <br /> Motion of the Board Accept Coun 's Proposed Value: $1,460,800 <br /> Made the motion Richal Vanhook <br /> Seconded the motion Saru Salvi <br /> Voted For All BOER Members <br /> Voted Against <br /> Property Identification: <br /> Property Owner Yogi Business Solution Appellant(if different) <br /> LLC <br /> Property Address 1709 Legion Road Unit Parcel ID or Abstract 9799450932 <br /> 101 <br /> Statement of Appeal: Request reduction in value based on functional obsolescence, and abnormally high <br /> core factor. <br /> Current Assessed Value $2,469,500 ounty Opinion $1,307,300 <br /> Time of Hearin 11:12 AM Appellant Opinion $1,131,263 <br /> County Representative Roger Gunn Board Decision $1,307,300 <br /> Evidence submitted by the appellant: <br /> • See 2021 appraisal. Market values have deteriorated since then given interest rate and other <br /> changes. Please note that page 2 of appraisal characterizes property as incurably functionally <br />