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Docusign Envelope ID: BOF983D6-EAD9-4D5D-A13A-EE8461FA1918 <br /> Evidence submitted by the appellant: <br /> • The Appellant states a revision to value should be made based on the Income Approach to <br /> valuation. An Income Analysis document was supplied noting a monthly rent of$2,111 and a <br /> Gross Rent Multiplier(GRM) of 152 and an Indicated Value of$320,900. <br /> • It was noted the property was purchased on 8/25/2014 for$139,277. <br /> • No additional evidence e.g.,photos, repair bids, or comparable sales were provided, nor was <br /> any support for the appellant's estimate of market rent or how the Gross Rent Multiplier was <br /> derived. <br /> Evidence submitted by the county representative: <br /> • The subject property is located at 113 Norwood Court North in Mebane. A site visit was <br /> conducted on January 27, 2026.No discrepancies were observed between the recorded <br /> property characteristics and the observable physical characteristics of the subject at the time of <br /> inspection. <br /> • Analysis of comparable properties within the same neighborhood similar in size, age, story <br /> height, construction quality, and grade indicate the subject's assessed value of$136 per <br /> finished square foot is below both the neighborhood average and median sale-based rates, <br /> reflecting consistency with market activity and county valuation standards. The appellant <br /> submitted a Gross Rent Multiplier(GRM) analysis to support their estimate of value. <br /> However, the comparable properties used to derive estimated market rent and the GRM were <br /> not provided, and the approach's relevance is considered an inferior indicator of value as the <br /> Sales Comparison Approach remains the most reliable valuation method for single family <br /> residential properties in neighborhoods where comparable sales are available. <br /> • After review, the County recommends no change to the current assessed value. <br /> • Summary <br /> • Current Property Record Card <br /> • Photo of Subject' <br /> • GIS Map <br /> • Sales Analysis <br /> Motion of the Board Accept Coun 's Proposed Value: $342,200 No change in value <br /> Made the motion Richal Vanhook <br /> Seconded the motion Shannon Julian <br /> Voted For All BOER Members <br /> Voted Against <br /> Chair of the B EA;Signed by: <br /> Leon Meyers <br /> /3/2026 <br /> Recording SeEr6t-I$RS-a4-E)8 <br /> n�a by: <br /> Rob Teachout <br /> fi 4 <br /> 2/3/2026 <br /> 16 <br />