2026_01_13 BOER Minutes - Laserfiche WebLink

Browse Search

Docusign Envelope ID:5A461AB1-DAAO-4DE6-A842-FA13920FF4F5 Time B Meeting called to order 1:03PM Leon Meyers Meeting adjourned 4:15PM Leon Meyers Motion Time By Second To move into recess 3:11PM Leon Meyers Saru Salvi To return to order 3:20PM Leon Meyers Richal Vanhook Property Identification: Property Owner Jones Ferry Partners LLC Appellant(if different) I Reed J.Hollander Property Address 403 Jones Ferry Road Parcel ID or Abstract 19778641957 Statement of Appeal: Request reduction in value based on a recent appraisal with an effective valuation date of January 1,2025. Current Assessed Value $3,955,700 ounty Opinion $3,639,400 Time of Hearin 1:03PM Appellant Opinion $1,150,000 County Representative Roger Gunn Board Decision $1,150,000 Evidence submitted by the appellant: • The appellant is requesting a reduction in value to $1,150,000 based on a recent appraisal with an effective valuation date of January 1, 2025. Evidence submitted by the county representative: • The subject is comprised of 6.6 acres or 287,496 square feet and contains 3 main buildings and a number of outbuildings all of which contribute minimally to the subject's overall valuation. The subject is valued at approximately$599,348 per acre or$13.76 per square foot. • The subject is identified as plot B on the attached excerpt from the Carrboro Connect Comprehensive Plan adopted by the Town of Carrboro in 2022. The Comprehensive Plan indicates the Town's desire for the subject plot to be developed as a mixed-use property including affordable housing or a recreation center. The proposed re-zoning is to mixed-use, with a desire to move the current industrial use further from the center of town. These intentions have significant implications for the highest and best use of the property and are not accounted for, or mentioned, in the appellant's appraisal report. • Based on an analysis of the County's land comparables,the County recommends changing the land's market adjustment from-75%to-77%which would lead to a revised value of $3,649,400 or$12.69 per square foot,which is below the $13.07 average price per square foot of the subject's land comparables including the recent sale of 315 Jones Ferry Road at$12.95 per square foot. • GIS Map of Subject • Current Property Record Card(6 pages) • Proposed Property Record Card(6 pages) • Carrboro Comprehensive Plan Excerpt(2 pages) • Comparable Land Sales for Mixed Use-Development 2