2026_01_13 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID:5A461AB1-DAAO-4DE6-A842-FA1392OFF4F5 Property Address 1208 Conner Drive Parcel ID or Abstract 9799140074 Statement of Appeal: Request reduction in value based on actual income and a market proforma income approach. Current Assessed Value $34,326,100 ounty Opinion $34,326,100 Time of Hearin 3:20PM Appellant Opinion $24,442,700 County Representative Roger Gunn Board Decision $34,326,100 Evidence submitted by the appellant: • The appellant is requesting a lower valuation based on actual income and a market proforma income approach. Evidence submitted by the county representative: • The subject is a 260-unit apartment complex in Chapel Hill known as Sunstone Apartments that was constructed in 1984. • Based on the County's commercial appraiser consultant analysis attached,the County feels the current value of the subject is supported with no change in value recommended. • GIS Map of Subject • Current Property Record Card(26 pages) • Comparable Sales and Income Approach • Commercial Appraiser Consultant's Analysis Motion of the Board Accept Count 's Proposed Value: 1 $34,326,100 No Change in Value Made the motion Richal Vanhook Seconded the motion Saru Salvi Voted For All BOER Members Voted Against Property Identification: Property Owner 83 CHARTLEYNC Appellant(if different) Morgan Fowler/Ryan Owner LLC LLC Property Address 1625 S. Elliott Road Parcel ID or Abstract 9799347704 Statement of Appeal: Request reduction in value based on an income approach based on actual income and market proformas. Current Assessed Value $88,783,300 ounty Opinion $74,5925000 Time of Hearin 3:26PM Appellant Opinion $65,6805000 County Representative Roger Gunn Board Decision $74,5925000 Evidence submitted by the appellant: • The appellant is requesting a lower valuation based on an income approach based on actual income and market proformas. 8