2026_01_14 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID:43560945-04CF-4CB1-9034-34AEEA2DCF99 Property Address 430 North Greensboro Parcel ID or Abstract 9778970532 Street Statement of Appeal: Request reduction in value based on a proforma income approach. Current Assessed Value $19,309,800 ounty Opinion $19,309,800 Time of Hearin 1:53PM Appellant Opinion $18,435,000 County Representative Roger Gunn Board Decision $19,309,800 Evidence submitted by the appellant: • The appellant is requesting a lower valuation based on a proforma income approach. Evidence submitted by the county representative: • The subject is a 94-unit apartment complex in Carrboro known as Shelton Station Apartments that was constructed in 2018. • The agent uses high vacancy and capitalization rates in their pro forma to show a lower value despite this being a very well performing property. • The County has provided comparable sales and an income approach which would appear to indicate the subject is under-assessed, especially based on the income approach valuation. However,because the subject's current value of$205,423 per unit is between the lower and middle of the range of sales values per unit,no change in the current assessed value is recommended. • GIS Map of Subject • Current Property Record Card(4 pages) • Comparable Sales and Income Approach Motion of the Board Accept Count 's Proposed Value: 1 $19,309,800 No Change in Value Made the motion Richal Vanhook Seconded the motion Shannon Julian Voted For All BOER Members Voted Against Property Identification: Property Owner KIWA LLC Appellant(if different) Debbie Askins/Ryan LLC Property Address 1105 NC 54 Parcel ID or Abstract 9778913957 Statement of Appeal: Request reduction in value based on the income approach. Current Assessed Value $14,946,700 ounty Opinion $14,946,700 Time of Hearin 3:OOPM Appellant Opinion $12,278,300 County Representative Roger Gunn Board Decision $14,946,700 Evidence submitted by the appellant: 12