2026_02_11_BOER_Minutes - Laserfiche WebLink

Browse Search

Docusign Envelope ID:41A5CO43-OEBB-4B4B-BB6A-9411707F7CAF • Income Approach Motion of the Board Accept Count 's Proposed Value: $8,594,600 Made the motion Richal Vanhook Seconded the motion Shannon Julian Voted For All BOER Members Voted Against ... Property Identification: Property Owner Chapel Hill North Station Appellant(if different) Morgan Fowler/Ryan, Out parcel LLC LLC Property Address 1880 Martin Luther King Parcel ID or Abstract 9880270438 Jr. Boulevard Statement of Appeal: Request reduction in value based on equity land comparables. Current Assessed Value $1,355,100 County Opinion $1,355,100 Time of Hearing Appellant Opinion $761,395 County Representative Roger Gunn Board Decision $1,355,100 Evidence submitted by the appellant: • The appellant is requesting a lower valuation based on equity land comparables. Evidence submitted by the county representative: • The subject is a 2.02 acre(87,991 square feet)vacant outparcel of the Chapel Hill North shopping center regarded as excess land. It is assessed at$15.40 per square foot or$670,842 per acre. • The appellant has provided an equity argument for the out-parcel's value. An analysis of the equity comparables is detailed below. 1.) 150 Adair Drive—Unbuildable. Misleading. 2.) 121 N Elliott Road.—Zoned residential. Misleading. 3.) 3 Couch Road—Dead end road with no paved access. No proximity to retail. Misleading. 4.)Lot 2,Kingston Drive—Office zoned land with flood plain and riparian buffer. Far inferior. 5.) 101 Kingston Drive—Office zoned, but frontage on a corner. Could be relevant. Has its own issues. Supports the assessed value. • Based on the evidence presented, no relevant data is presented to support a change in value. • GIS Map of Subject • Current Property Record Card(2 pages) • Comparable Sales and Income Approach Motion of the Board No Change in Assessed Value $1,355,100 Made the motion Shannon Julian Seconded the motion Richal Vanhook 13