2026_01_29 BOER Minutes - Laserfiche WebLink

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Docusign Envelope ID: BOF983D6-EAD9-4D5D-A13A-EE8461FA1918 • Proposed Property Record Card(4 pages) • Comparable Sales and Income Approach • LEED Certification Return on Investment for Office Buildings Motion of the Board Accept County's Proposed Value: 1 $22,934,000 Made the motion Shannon Julian Seconded the motion Richal Vanhook Voted For All BOER Members Voted Against ... Property Identification: Property Owner Beach Cates Creek LLC Appellant(if different) Morgan Fowler/Ryan LLC (Presented by Ca O'Day) Property Address 25.41 acres on Cates Parcel ID or Abstract 9873143954 Creek Parkway Statement of Appeal: Request reduction in value based on equity comparables. Current Assessed Value $7,969,400 ounty Opinion $6,176,300 Time of Hearin 1:22 PM Appellant Opinion $2,941,518 County Representative Roger Gunn Board Decision $6,176,300 Evidence submitted by the appellant: • The appellant is requesting a lower valuation based on equity comparables. Evidence submitted by the county representative: • The subject consists of 25.41 acres of unimproved multifamily development land and is currently valued at$7,969,400. Based on the attached comparable multifamily development land sales and the attached County's land value analysis, the property is overvalued by the County and an adjustment is warranted. An indication of value of$17,898 per buildable unit is appropriate. As the subject is currently approved for 346 buildable units, $6,192,708 should be the approximate valuation for the subject. Applying the County's Schedule of Values,the County recommends reducing the current+140% land market adjustment to+86% for a revised valuation of$6,176,300 for the subject. • GIS Map of Subject • Current Property Record Card(2 pages) • Recommended Property Record Card(2 pages) • Comparable Multifamily Land Sales Analysis • Land Value Analysis Motion of the Board Accept County's Proposed Value: $6,176,300 Made the motion Richal Vanhook 3