2025_12_18 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID: D8F1F6B3-4E5C-46D1-9276-28B887499D7C Statement of Appeal: Request reduction in value based on the age and condition of the building,vacancy rate and lower net operating income. Current Assessed Value $5,446,100 ounty Opinion $5,313,000 Time of Hearin 1:27 PM Appellant Opinion $5,316,800 County Representative Roger Gunn Board Decision $5,313,000 Evidence submitted by the appellant: • The appellant's opinion of value is based on the age and condition of the building, vacancy rate and lower net operating income. Evidence submitted by the county representative: • The subject property is a restaurant building with 3,969 square feet, 16,860 square feet of office space and 4,750 square feet of basement office built in 1955 on.37 acres located on W. Franklin Street in Chapel Hill. • The County's Commercial Appraisal Consultant recommends a reduction in value from $5,446,100 to $5,316,800 based on the vacancy evidence provided. Please see the attached Income Approach • Based on this recommendation, The County proposes changing the economic modifier from EI I to E12 and adding 15%external depreciation to the building on card 1,resulting in a revised value from $5,446,100 to $5,313,000. • GIS Map of Subject • Current Property Record Card(6 pages) • Proposed Property Record Card(6 pages) • Income Approach Motion of the Board Accept Coun 's Proposed Value: $5,313,000 Made the motion Richal Vanhook Seconded the motion Saru Salvi Voted For All BOER Members Voted Against Property Identification: Property Owner Jonathan R. Walsh Appellant if different Property Address 6701 Cane Creek Drive Parcel ID or Abstract 19830181782 Statement of Appeal: Request reduction in value based on comparable properties with a focus on bedroom count. Current Assessed Value $314,600 ounty Opinion $314,600 Time of Hearin 1:58 PM Appellant Opinion $260,000 County Representative Heidi Whetzel Board Decision $314,600 Evidence submitted by the appellant: