Board of Equalization and Review - March 21, 2012 Date run: 4/25/2012 11:21:07 AM NCPTS V4 TR-121 Appeal Docket Report Report Parameters: Calendar Pk: TIME ROW NO. 5 LEVEL Docket Date: CASE NUMBER APPEAL ID OWNER/ APPELLANT 3/21/2012 PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 9:00 AM 1 BER 11-BER001458 39699 911 EAST MOREHEAD STREET LLC / TAX ADVANTAGE PROPERTY SERVICES ATTN: DAVE PAWLOWSKI 12520104 N REI 0001817248-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 3URIRUPD 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVSURYLGHDSUR IRUPDWKDWVXSSRUWVD UHGXFWLRQRIYDOXH &RXQW\65 0 5,966,800 0 01 REDUCTION 3,432,900 ACCEPT STAFF REC 3,432,900 HJ/DG 9:00 AM 2 BER 11-BER001983 37433 BANK OF AMERICA NA / ERNST & YOUNG 12522202 N REI 0001817746-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH 1RQH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 1RQH 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVSURYLGHDSUR IRUPDWKDWVXSSRUWVD UHGXFWLRQRIYDOXH &RXQW\65 0 3,607,300 0 01 REDUCTION 2,362,900 ACCEPT STAFF REC 2,362,900 DG/HJ 9:00 AM 3 BER 11-BER003219 40821 BBT / THOMSON REUTERS ATTN: SUZANNE MARKLEY 13101113 N REI 0001824527-20112011-0000-0 01 Above Market )RUHFORVXUH1R 6DOH'DWH 6DOH3ULFH 732SLQLRQRI9DOXH 1RQH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 1RQH 0 710,400 710,400 ACCEPT STAFF REC 710,400 HJ/DG )RUHFORVXUH1R 6DOH'DWH 6DOH3ULFH 732SLQLRQRI9DOXH 1RQH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 1RQH 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVXVHGWKH LQFRPHDSSURDFKRQWKLV SURSHUW\DQGIHHOVWKDWLW LVHTXDELOLW\DVVHVVHG ZLWKRWKHUEUDQFKEDQNV LQWKH&RXQW\ &RXQW\651R&KDQJH PAGE 1 of 13 WORLEY, MIKE 0 02 NO CHANGE DECISION COMMENTS Board of Equalization and Review - March 21, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) 9:00 AM 4 BER 11-BER002412 41345 CHARLOTTE KING LLC / SPECTRUM PROPERTY TAX ADVISORS INC ATTN: ROBERT M LELAND JR. 12511128 N REI 0001817000-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV ,QFRPH,QIR 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVXVHGWKH LQFRPHDSSURDFKRQWKLV SURSHUW\DQGIHHOVWKDWLW LVHTXDELOLW\DVVHVVHG ZLWKRWKHU)DVWIRRG UHVWDXUDQWVLQWKH&RXQW\ &RXQW\651R&KDQJH 0 1,321,100 9:00 AM 5 BER 11-BER004479 35967 CRESCENT RESOURCES LLC 12512103 N REI 0001817155-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV /DQGVDOHV 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVDGMXVWHGWKH ODQGYDOXHWKDWVXSSRUWV DUHGXFWLRQRIYDOXH &RXQW\65 0 3,065,200 9:00 AM 6 BER 11-BER002273 40130 FAISONSTONEWALL STREET LLC / EASLEY, MCCALEB & ASSOCIATES, INC - ATTN: TOM BERRY 12512102 N REI 0001817153-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV /DQGVDOHV 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVDGMXVWHGWKH ODQGYDOXHWKDWVXSSRUWV DUHGXFWLRQRIYDOXH &RXQW\65 0 9:00 AM 7 BER 11-BER001031 40672 FIVE HUNDRED ONE ASSOCIATES LLC / MARVIN F. POER AND COMPANY ATTN: BYRON PEARCE 12517503 N REI 0001817236-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 3URIRUPD 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVSURYLGHDSUR IRUPDWKDWVXSSRUWVD UHGXFWLRQRIYDOXH &RXQW\65 0 PAGE 2 of 13 APPELLANT OPINION VALUE ($) STAFF REC 800,000 02 NO CHANGE STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 1,321,100 ACCEPT STAFF REC 1,321,100 HJ/DG 1,740,110 01 REDUCTION 2,137,600 ACCEPT STAFF REC 2,137,600 HJ/DG 2,711,200 1,500,000 01 REDUCTION 1,763,200 ACCEPT STAFF REC 1,763,200 HJ/DG 1,113,100 0 01 REDUCTION 893,800 ACCEPT STAFF REC 893,800 HJ/DG DECISION COMMENTS Board of Equalization and Review - March 21, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) 9:00 AM 8 BER 11-BER003147 39910 GMA INDUSTRIAL CORP / THOMSON REUTERS ATTN: SUZANNE MARKLEY 12521101 N REI 0001817484-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO 'DWH 73CV&DVHDQG,VVXHV 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH %XLOGLQJKDV FRQVLGHUDEOHSK\VLFDO GHSUHFDWLRQWKH&RXQW\ EHOLHYHVWKHUHVKRXOGEH DUHGXFWLRQRIYDOXH &RXQW\65 0 2,915,800 9:00 AM 9 BER 11-BER001042 40596 KINGS COURT ASSOCIATES / MARVIN F. POER AND COMPANY ATTN: BYRON PEARCE 12524381 N REI 0001818392-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 3URIRUPD 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVSURYLGHDSUR IRUPDWKDWVXSSRUWVD UHGXFWLRQRIYDOXH &RXQW\65 0 4,690,300 9:00 AM 10 BER 11-BER003551 39644 MOREHEAD MANSION ASSOC LIMITED / THOMSON REUTERS ATTN: SUZANNE MARKLEY 12517321 N REI 0001817215-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 3URIRUPD 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVSURYLGHDSUR IRUPDWKDWVXSSRUWVD UHGXFWLRQRIYDOXH &RXQW\65 0 9:00 AM 11 BER 11-BER002715 40841 ONE THOUSAND ELEVEN EAST MOREHEAD / PARADIGM TAX GROUP - ATTN: ERIC VINTON 12520106 N REI 0001817250-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH WR 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 3URIRUPD 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVSURYLGHDSUR IRUPDWKDWVXSSRUWVD UHGXFWLRQRIYDOXH &RXQW\65 0 PAGE 3 of 13 APPELLANT OPINION VALUE ($) STAFF REC 1,500,000 01 REDUCTION STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 2,165,300 ACCEPT STAFF REC 2,165,300 HJ/DG 0 02 NO CHANGE 4,690,300 01 REDUCTION 4,505,000 DG/HJ 2,633,700 0 01 REDUCTION 2,317,200 01 REDUCTION 2,251,000 DG/HJ 2,866,900 2,000,000 01 REDUCTION 2,492,500 ACCEPT STAFF REC 2,492,500 HJ/DG DECISION COMMENTS Board of Equalization and Review - March 21, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) 9:00 AM 12 BER 11-BER001426 39702 REDAN BOULEVARD EAST 7TH STREET / TAX ADVANTAGE PROPERTY SERVICES ATTN: DAVE PAWLOWSKI 12703509 N REI 0001819238-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 3URIRUPD 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVSURYLGHDSUR IRUPDWKDWVXSSRUWVD UHGXFWLRQRIYDOXH &RXQW\65 0 1,786,400 9:00 AM 13 BER 11-BER002545 37285 SHAYONA PROPERTIES LLC - ATTN: ANUP DESAI 12910170 N REI 0001824248-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH WR 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 1RQH 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH %XLOGLQJVKDYHZULWWHQ GRZQWRRIYDOXH7KH KRWHOLVEHLQJUHPRGHOHG &RXQW\651R&KDQJH 0 1,095,700 9:00 AM 14 BER 11-BER002236 41262 STARPORT PARKING I LLC / STALLINGS GROUP - ATTN: JEFF ROBINSON 12512506 N REI 0001817170-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV /DQGVDOHV 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVDGMXVWHGWKH ODQGYDOXHWKDWVXSSRUWV DUHGXFWLRQRIYDOXH &RXQW\65 0 3,857,200 9:00 AM 15 BER 11-BER002261 37219 THREE HUNDRED SIXTY SIC NORTH CASWELL / DAVID R. KRUG ASSOCIATES, INC 12704603 N REI 0001819411-20112011-0000-0 01 Above Market 0DUYLQ3RHUZLWKGUHZDV WORLEY, UHSUHVHQWDWLYH($ MIKE )RUHFORVXUH1R 6DOH'DWH 6DOH3ULFH 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV ,QFRPH'DWD 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVSURYLGHDSUR IRUPDWKDWVXSSRUWVD UHGXFWLRQRIYDOXH &RXQW\65 0 812,900 PAGE 4 of 13 APPELLANT OPINION VALUE ($) STAFF REC 0 01 REDUCTION STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 1,293,300 ACCEPT STAFF REC 1,293,300 DG/HJ 1,095,700 ACCEPT STAFF REC 1,095,700 HJ/DG 2,000,000 01 REDUCTION 2,454,600 ACCEPT STAFF REC 2,454,600 HJ/DG 563,000 01 REDUCTION 670,200 ACCEPT STAFF REC 670,200 DG/HJ 801,000 02 NO CHANGE DECISION COMMENTS Board of Equalization and Review - March 21, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 9:00 AM 16 BER 11-BER003399 40828 WACHOVIA BANK TRUST CO / THOMSON REUTERS ATTN: SUZANNE MARKLEY 08701113 N REI 0001717906-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV %DQN6DOHV 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVXVHGWKH LQFRPHDSSURDFKRQWKLV SURSHUW\DQGIHHOVWKDWLW LVHTXDELOLW\DVVHVVHG ZLWKRWKHUEUDQFKEDQNV LQWKH&RXQW\ &RXQW\651R&KDQJH 0 1,219,900 0 02 NO CHANGE 1,219,900 ACCEPT STAFF REC 1,219,900 HJ/DG 9:00 AM 17 BER 11-BER003432 40829 WACHOVIA BANK TRUST CO / THOMSON REUTERS ATTN: SUZANNE MARKLEY 12521201 N REI 0001817551-20112011-0000-0 01 Above Market )RUHFORVXUH1R WORLEY, 6DOH'DWH MIKE 6DOH3ULFH 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV %DQN6DOHV 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH7KH &RXQW\KDVXVHGWKH LQFRPHDSSURDFKRQWKLV SURSHUW\DQGIHHOVWKDWLW LVHTXDELOLW\DVVHVVHG ZLWKRWKHUEUDQFKEDQNV LQWKH&RXQW\ &RXQW\651R&KDQJH 0 1,568,000 0 02 NO CHANGE 1,568,000 ACCEPT STAFF REC 1,568,000 DG/HJ 9:00 AM 18 BER 11-BER002696 40427 AEI NET LEASE INCOME GROWTH FUND / PARADIGM TAX GROUP ATTN: ERIC VINTON 22151208 N REI 0002022167-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUV3UR)RUPDDQG DFWXDO6(&21' $'0(1'0(17/($6( $*5((0(17ZLWK LQLWLDOLQFHSWLRQRI 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LV 5(7$,/ %8,/',1*!!!'%$ *$5'(15,'*(!!!! $GMXVWHGWKHPDUNHWUHQW UDWH7KH,1&20( $3352$&+UHIOHFWVDQ LQGLFDWHGYDOXHRI %\ FRPSDULVRQWKH&267 $3352$&+UHYHDOVD YDOXHRI 65 5HGXFWLRQWR 0 20,696,000 17,739,400 ACCEPT STAFF REC 17,739,400 HJ/DG PAGE 5 of 13 8,671,200 01 REDUCTION DECISION COMMENTS Board of Equalization and Review - March 21, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 9:00 AM 19 BER 11-BER003106 36362 ALDI (NC) LLC / THOMSON REUTERS ATTN: SUZANNE MARKLEY 22119215 N REI 0002016380-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUV3UR)RUPD 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LV5HWDLO 6WRUH'%$ %/$&./,21!!! &RUUHFWHGW\SHWR 5(7$,/$/',SXUFKDVHG VXEMHFWIURP(PRU\ 3URSHUWLHVZLWKD /($6(%$&.WR(025< 3523(57,(6%/$&./, 217KLVLVDVXESDU PDUNHWOHDVH9DOXHGE\ WKH,1&20( $3352$&+# %\ FRPSDULVRQWKH&267 $3352$&+UHYHDOVD YDOXHRI 9LVLWHGRQ 65 ,QFUHDVHWR 0 5,239,000 3,856,000 03 INCREASE 5,694,700 01 REDUCTION 5,333,100 HJ/DG 9:00 AM 20 BER 11-BER000711 40681 CAROLINA INVESTMENT GROUP LLC / MARVIN F. POER AND COMPANY ATTN: BYRON PEARCE 22151210 N REI 0002022171-20112011-0000-0 01 Above Market )RUHFORVXUH12 6DOH'DWH1$6DOH 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUV3UR)RUPDDQG DFWXDO/($6( $*5((0(17 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LV )851,785( 6+2:5220!'%$ /$=<%2<!!!!7KH /($6(SURYLGHGUHIOHFWV DFXUUHQWDFWXDOUDWHRI $SSOLHGWKLVUDWH DFFRUGLQJO\ 65 5HGXFWLRQWR 0 3,059,900 2,656,000 01 REDUCTION 2,811,700 ACCEPT STAFF REC 2,811,700 DG/HJ PAGE 6 of 13 WORTHEN, RUSS DECISION COMMENTS Board of Equalization and Review - March 21, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 9:00 AM 21 BER 11-BER002419 41466 DAVIS INVESTMENTS LLC / SPECTRUM PROPERTY TAX ADVISORS INC ATTN: ROBERT M LELAND JR. 22119402 N REI 0002016409-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUV3UR)RUPD &2'1$ &RXQW\CV &DVH68%-(&7LVD '58*6725('%$ &96/RFDWHGDWWKH FRUQHURI3$5.52$' DQG3$5.&('$5 '5,9(&RQYHUWHGWRWKH ,1&20($3352$&+ IURP&267$3352$&+ 7KH,1&20( $3352$&+UHQGHUVDQ LQGLFDWHGYDOXHRI ,Q FRPSDULVRQWKH&RVW UHIOHFWVD9DOXHRI 65 ,QFUHDVHWR 0 2,479,300 1,978,100 03 INCREASE 3,260,900 ACCEPT STAFF REC 3,260,900 DG/HJ 9:00 AM 22 BER 11-BER002226 37080 DDR SOUTHEAST CAMFIELD LLC / STALLINGS GROUP - ATTN: JEFF ROBINSON 22328431 N REI 0002029858-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH 0 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2))(565(1752//6 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LV6+23 675,3!!!'%$ &$0),(/' &251(56$SSOLHGUHQW UDWHWRWKHGLYLVLRQRI VXSHUPDUNHWDQGUHWDLO VWRUHV65 5HGXFWLRQ WR 0 9,543,900 7,000,000 01 REDUCTION 7,308,700 ACCEPT STAFF REC 7,308,700 HJ/DG 9:00 AM 23 BER 11-BER002012 37512 DIXON, JEAN GROVES / JORDAN, JOHN 22119202 N REI 0002016359-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 8WLOL]LQJWLPHVWKHUHQW 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LVD )$67)22'EXLOGLQJ '%$%2*$1*/(6 9DOXHGE\WKH,QFRPH $SSURDFKDW %\FRPSDULVRQWKH&RVW $SSURDFKUHYHDOVDYDOXH RI65 1& 0 1,531,400 1,160,450 02 NO CHANGE 1,531,400 ACCEPT STAFF REC 1,531,400 DG/HJ PAGE 7 of 13 DECISION COMMENTS Board of Equalization and Review - March 21, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) 9:00 AM 24 BER 11-BER000709 40684 HAVERTY FUNITURE COMPANIES INC / MARVIN F. POER AND COMPANY ATTN: BYRON PEARCE 22151102 N REI 0002022142-20112011-0000-0 01 Above Market )RUHFORVXUH12 6DOH'DWH1$6DOH 3ULFH1$ 732SLQLRQRI9DOXH 121(2))(5(' 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 121(2))(5(' 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LV )851,785( 6+2:5220!!!'%$ +$9(57<612 GRFXPHQWDWLRQQRU HYLGHQFHSURYLGHG65 1& WORTHEN, RUSS 0 9,827,700 9:00 AM 25 BER 11-BER000005 33756 ISLAND CREEK LAND COMPANY LLC - ATTN: RHETT TAYLOR 22119303 N REI 0002016407-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH 0 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUV3UR)RUPD &2'1$ &RXQW\CV &DVH68%-(&7LVD 5(7$,/%XLOGLQJ9DOXHG E\WKH,1&20( $3352$&+DW %\ FRPSDULVRQWKH&267 $3352$&+UHYHDOVD YDOXHRI65 5HGXFWLRQWR 0 2,537,800 9:00 AM 26 BER 11-BER003504 36592 LOGAN CAROLINA PLACE ASSOCIATES / THOMSON REUTERS ATTN: SUZANNE MARKLEY 22151202 N REI 0002022153-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUV0DUVKDOODQG6ZLIW (VWLPDWRU 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LV )851,785( 6+2:5220!!!'%$ 5220672*2 &RQYHUWHGWRWKH ,1&20($3352$&+ IURPWKH&267 $3352$&+65 ,1&5($6(WR 0 2,232,300 PAGE 8 of 13 APPELLANT OPINION VALUE ($) STAFF REC 0 02 NO CHANGE STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 9,827,700 01 REDUCTION 8,189,700 DG/HJ 1,500,000 01 REDUCTION 1,973,800 01 REDUCTION 1,806,700 HJ/DG 1,704,000 03 INCREASE 4,059,300 01 REDUCTION 3,382,800 DG/HJ DECISION COMMENTS Board of Equalization and Review - March 21, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 9:00 AM 27 BER 11-BER003289 40122 PARK CEDAR ASSOCIATES LTD / EASLEY, MCCALEB & ASSOCIATES, INC - ATTN: NEAL COOPER 22119216 N REI 0002016381-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH 0 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUV),1$1&,$/6$1' 5(1752// 6DOHV5DWLR1$ &2'1$ &RXQW\CV&DVH $33(//$17+$6 $&&(37('9$/8(2) 68%-(&7LV D&/$66%2)),&( %8,/',1*9$/8('%< 7+(,1&20( $3352$&+$7 9LVLWHG SURSHUW\RQ 65 5HGXFWLRQWR 0 5,144,200 2,900,000 01 REDUCTION 4,493,500 ACCEPT STAFF REC 4,493,500 DG/HJ 9:00 AM 28 BER 11-BER002359 37007 PKY FUND II CHARLOTTE I LLC / STALLINGS GROUP - ATTN: JEFF ROBINSON 22120106 N REI 0002016441-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH 0 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUV/($6()(( $335$,6$/ 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LV 2)),&( %8,/',1*9DOXHGE\WKH ,1&20($3352$&+DW %\ FRPSDULVRQWKH&267 $3352$&+UHYHDOVD YDOXHRI 65 5HGXFWLRQWR 0 19,787,900 15,000,000 01 REDUCTION 17,809,100 01 REDUCTION 15,729,200 DG/HJ 9:00 AM 29 BER 11-BER002350 37004 PKY FUND II CHARLOTTE I LLC / STALLINGS GROUP - ATTN: JEFF ROBINSON 22120201 N REI 0002016510-20112011-0000-0 01 Above Market )RUHFORVXUH12 6DOH'DWH1$6DOH 3ULFH1$ 732SLQLRQRI9DOXH 0 0 10,584,300 9,000,000 01 REDUCTION 9,409,000 ACCEPT STAFF REC 9,409,000 HJ/DG 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUV5HQW5ROOVDQGD /($6(')(( $335$,6$/ 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LV 2)),&( %8,/',1*$SSOLHG1/$ RI,1&20( $3352$&+LQGLFDWHG YDOXHLV%\ FRPSDULVRQWKH&267 $3352$&+UHYHDOVD YDOXHRI 65 5HGXFWLRQWR PAGE 9 of 13 WORTHEN, RUSS DECISION COMMENTS Board of Equalization and Review - March 21, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) 9:00 AM 30 BER 11-BER002331 37156 PKY FUND II CHARLOTTE I LLC / STALLINGS GROUP - ATTN: JEFF ROBINSON 22120205 N REI 0002016525-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH 0 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUV/($6()(( $335$,6$/ 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LV 2)),&( %8,/',1*9DOXHGE\WKH ,1&20($3352$&+DW %\ FRPSDULVRQWKH&267 $3352$&+UHYHDOVD YDOXHRI 65 ,QFUHDVHWR 0 16,011,300 9:00 AM 31 BER 11-BER002195 37162 QUAILS LLC / STALLINGS GROUP - ATTN: JEFF ROBINSON 22120202 N REI 0002016511-20112011-0000-0 01 Above Market )RUHFORVXUH12 6DOH'DWH1$6DOH 3ULFH1$ 732SLQLRQRI9DOXH 0 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUVILQDQFLDODQGUHQW UROOV 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LV 2)),&(%8,/',1* 0DUNHWUHQWUDWHRI 65 1& WORTHEN, RUSS 0 9,865,800 9:00 AM 32 BER 11-BER002074 40179 REGENCY CENTERS INC / LANNING CONSULTING LLC - ATTN: WANDA F. LANNING 22144110 N REI 0002021082-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUVWD[SD\HUCV LQIRUPDWLRQ 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LV 675,36+233,1* &(17(5ZLWKDVWDQG DORQHEXVLQHVVHV 6HUYLFHVWDWLRQDQGD EDQN'%$&$50(/ &2002166+233,1* &(17(5/RFDWHGDWWKH FRUQHURI+:<DQG &DUPHO5RDG9LVLWHGRQ DQGIRXQGLWWREH DYHU\KLJKWUDIILFDUHD ZLWKJUHDW YLVLELOLW\9DOXHGE\WKH ,1&20($3352$&+DW %\ FRPSDULVRQWKH&267 $3352$&+UHYHDOVD YDOXHRI 65 1& 0 27,729,900 PAGE 10 of 13 APPELLANT OPINION VALUE ($) STAFF REC 15,000,000 03 INCREASE STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 17,721,600 01 REDUCTION 15,651,900 DG/HJ 5,000,000 02 NO CHANGE 9,865,800 01 REDUCTION 8,905,100 DG/HJ 22,260,000 02 NO CHANGE 27,729,900 01 REDUCTION 27,281,600 HJ/DG DECISION COMMENTS Board of Equalization and Review - March 21, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC 9:00 AM 33 BER 11-BER002070 40147 REGENCY CENTERS INC / LANNING CONSULTING LLC - ATTN: WANDA F. LANNING 22144111 N REI 0002021086-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH . 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUV7D[SD\HUCV LQIRUPDWLRQ 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LV)$67 )22' 5(67$85$17'%$ -$&.,17+(%2;!!!! 7KHFRXQW\LVRIIHULQJD FXUUHQWOHDVHDJUHHPHQW VWDWLQJDDFWXDOUHQWUDWH RIVHHHQFORVHG ,1&20($3352$&+ UHYHDOVDYDOXHRI ,Q FRPSDULVRQWKH&267 $3352$&+UHIOHFWVD YDOXHRI 65 1& 0 1,646,400 865,000 02 NO CHANGE 9:00 AM 34 BER 11-BER003138 33763 RI CS2 LLC / DOUG MORGAN & CO, INC ATTN: DOUG MORGAN 22121668 N REI 0002017078-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUVPHPRRI EUHDNGRZQFRVW 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LVD &219(1,(1&(6725( ZLWK&$5:$6+'%$ &,5&/(.9DOXHG HTXLWDEOHZLWKRWKHU& 6WRUHV65 1& 0 1,909,700 9:00 AM 35 BER 11-BER000686 40682 TKC XXIXX LLC / MARVIN F. POER AND COMPANY ATTN: BYRON PEARCE 22151305 N REI 0002022184-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUV3UR)RUPD 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LVD )851,785( 6+2:5220!'%$ &DUROLQD6OHHS 6KRS$GMXVWHGPDUNHW UHQWUDWHIURPWR SHUIRRW65 5HGXFWLRQ WR 0 2,217,200 PAGE 11 of 13 STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 1,646,400 01 REDUCTION 1,496,800 DG/HJ 1,313,784 02 NO CHANGE 1,909,700 ACCEPT STAFF REC 1,909,700 DG/HJ 1,740,000 01 REDUCTION 1,847,700 ACCEPT STAFF REC 1,847,700 DG/HJ DECISION COMMENTS Board of Equalization and Review - March 21, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 9:00 AM 36 BER 11-BER000714 40683 TKC XXVI LLC / MARVIN F. POER AND COMPANY ATTN: BYRON PEARCE 22151105 N REI 0002022145-20112011-0000-0 01 Above Market )RUHFORVXUH12 WORTHEN, 6DOH'DWH1$6DOH RUSS 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUV3UR)RUPD 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LVD )851,785( 6+2:5220!'%$ +(1'5,&.6 )851,785($GMXVWHG PDUNHWUHQWUDWHIURP WRSHUIRRWGXHWR WHQDQWILOLQJIRU EDQNUXSWF\DJDLQDQGZLOO EHYDFDWLQJWKH SUHPLVHV 65 5HGXFWLRQWR 0 6,586,600 1,740,000 01 REDUCTION 5,437,800 ACCEPT STAFF REC 5,437,800 DG/HJ 9:00 AM 37 BER 11-BER000774 40579 TOUCHSTONE ASSOCIATES LLC / MARVIN F. POER AND COMPANY ATTN: BYRON PEARCE 22325303 N REI 0002029148-20112011-0000-0 01 Above Market )RUHFORVXUH12 6DOH'DWH1$6DOH 3ULFH1$ 732SLQLRQRI9DOXH 733ULYDWH$SSUDLVDO $SSUDLVDO'DWH 73CV&DVHDQG,VVXHV 2IIHUV3UR)RUPD 6DOHV5DWLR1$ &2'1$ &RXQW\CV &DVH68%-(&7LVD 6+23675,3!'%$ 728&+6721( 9,//$*($33/,('1/$ RIDQGDGMXVWHG JURVVLQFRPH DFFRUGLQJO\ 65 5HGXFWLRQWR WORTHEN, RUSS 0 7,665,300 4,143,000 01 REDUCTION 4,869,300 ACCEPT STAFF REC 4,869,300 DG/HJ 9:00 AM 38 BER 11-BER002644 37150 BOYER, JAMES C / FLANAGAN BILTON, LLC ATTN: SPERO N. KOPITAS 12511110 Y REI 0001816970-20112011-0000-0 01 Above Market WORLEY, MIKE 0 470,500 300,000 WITHDRAWAL 470,500 Withdrawn 0 9:00 AM 39 BER 11-BER002915 40209 EASTOVER ODYSSEY LLC / THOMSON REUTERS ATTN: SUZANNE MARKLEY 12712174 Y REI 0001821831-20112011-0000-0 01 Above Market WORLEY, MIKE 0 7,210,700 0 WITHDRAWAL 7,210,700 Withdrawn 0 9:00 AM 40 BER 11-BER001039 40445 ECLIPSE ON TRYON LLC / MARVIN F. POER AND COMPANY ATTN: BYRON PEARCE 12512303 Y REI 0001817160-20112011-0000-0 01 Above Market WORLEY, MIKE 0 1,383,000 0 WITHDRAWAL 1,383,000 Withdrawn 0 9:00 AM 41 BER 11-BER002632 41275 TORRENCE STREET PARTNERS LLC / FLANAGAN BILTON, LLC ATTN: SPERO N. KOPITAS 12511104 Y REI 0001816966-20112011-0000-0 01 Above Market WORLEY, MIKE 0 334,500 200,000 WITHDRAWAL 334,500 Withdrawn 0 PAGE 12 of 13 DECISION COMMENTS Board of Equalization and Review - March 21, 2012 TIME ROW NO. LEVEL CASE NUMBER APPEAL ID OWNER/ APPELLANT PARCEL ID/ VIN CONSE NT ABS TYPE ABS NUMBER REASON STAFF NOTES APPRAISER PENALTY AMOUNT ($) PENALTY DECISION APPR VALUE ($) APPELLANT OPINION VALUE ($) STAFF REC STAFF REC VALUE ($) DECISION DECISION VALUE ($) MOTION 9:00 AM 42 BER 11-BER002638 41269 TORRENCE STREET PARTNERS LLC / FLANAGAN BILTON, LLC ATTN: SPERO N. KOPITAS 12511126 Y REI 0001816995-20112011-0000-0 01 Above Market WORLEY, MIKE 0 385,500 200,000 WITHDRAWAL 385,500 Withdrawn 0 9:00 AM 43 BER 11-BER003108 34095 ALDI (NC) LLC / THOMSON REUTERS ATTN: SUZANNE MARKLEY 22119231 Y REI 0007270559-20112011-0000-0 01 Above Market WORTHEN, RUSS 0 965,400 95,949 WITHDRAWAL 965,400 Withdrawn 0 9:00 AM 44 BER 11-BER003115 34099 ALDI (NC) LLC / THOMSON REUTERS ATTN: SUZANNE MARKLEY 22119232 Y REI 0007270560-20112011-0000-0 01 Above Market WORTHEN, RUSS 0 960,500 287,000 WITHDRAWAL 960,500 Withdrawn 0 9:00 AM 45 BER 11-BER003573 40501 FLAGSHIP-PARK CEDAR LLC / THOMSON REUTERS ATTN: SUZANNE MARKLEY 22119220 Y REI 0002016387-20112011-0000-0 01 Above Market WORTHEN, RUSS 0 5,161,300 4,655,000 WITHDRAWAL 5,161,300 Withdrawn 0 9:00 AM 46 BER 11-BER002491 40876 PSAC DEV PARTNERS L P DEPT-PT-NC07108 / PROPERTY TAX ADVISORS LLC 22119217 Y REI 0002016382-20112011-0000-0 01 Above Market WORTHEN, RUSS 0 6,161,500 4,000,000 WITHDRAWAL 6,161,500 Withdrawn 0 Notes: Wednesday, April 25, 2012 BER MEETING MINUTES - APPROVED AND SIGNED BY PAGE 13 of 13 BER CHAIRMAN DECISION COMMENTS