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From YouTube: Board of Equalization Hearing - June 8, 2022
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A
This
is
the
arlington
county,
virginia
board
of
equalization
hearings.
We
have
five
cases
on
the
agenda
today.
We
are
going
to
start
with
number
three
on
the
agenda.
A
B
For
sure
so,
good
morning,
everyone,
I
hope
everyone's
doing
pretty
well
this
morning.
So
the
first
case
that
we
have
here
is
an
extra
space
storage
facility.
It's
located
on
1001
north
filmer
street
there
in
arlington
virginia
based
off
the
current
assessed
value
for
2022.
B
B
My
client
and
I
we
believe
that
the
assessment
was
a
bit
too
high
based
on
the
actual
income
and
expenses
for
the
facility.
I
did
provide
the
year-end
operating
income
and
expenses
for
year
end
2021
in
year-end
2020..
I
believe
everyone
has
a
copy
of
that
year.
End
2021
noi
was
roughly
one
million
six
hundred
forty
seven
thousand
nine
hundred
eighty
eight.
B
If
we
capitalize
that
at
a
9.15
cap
rate,
our
indicated
value
is
roughly
18
million
dollars,
which
was
326
dollars
a
square
foot.
As
you
can
see,
that's
roughly
a
2.3
million
dollar
difference.
B
B
The
base
cap
rate
was
derived
from
realty
rates,
which
was
indicating
an
eight
percent
cap
rate
for
this
type
of
property,
and,
as
this
is
a
self
storage
facility,
we
utilize
the
eight
percent
base
cap
rate.
B
Also
within
our
evidence,
we
did
provide
deal
comps
with
self
storage
facilities
throughout
the
state
of
virginia
did
provide
well
over
20
comps
of
cell
storage
facilities
within
the
last
three
to
four
years,
and
the
average
fail
per
square
foot
of
comparable
storage
facilities
was
roughly
160
or
163
dollars
a
square
foot
now
the
sales.
I
was
trying
to
use
that
as
supplemental
information
to
our
income
approach.
B
C
Board
members,
basically
what
this
comes
down
to
it's
a
difference
of
the
cap
rate
when
you
take
a
look
at
the
original
january,
1
assessment,
and
you
look
at
the
noi
for
january
1.,
it's
actually
substantially
lower
than
what
is
being
reported
on
the
2021
ine
and
so
effectively
when
you're
you're,
comparing
our
january
1
assessment
to
column
e,
which
is
the
2021
ine
and
to
the
appellants
pro
forma.
C
Our
noi
is,
is
about
roughly
a
hundred
thousand
less.
So
once
again,
it's
the
cap
rate.
I
did
review
the
agent's
sales
that
he
provided
and,
as
he
said,
they
covered
the
entire
state
of
virginia
well.
This
property
is
actually
located
in
arlington,
which
is
really
close
to
dc.
It's
also
clo
we're
talking
a
densely
populated
area.
C
The
other
thing
that
is
unique
about
this
property-
and
this
also
includes
the
the
next
case
that
we're
going
to
hear,
which
is
almost
identical
to
this
one.
What's
unique
about
these
storage
facilities
is
that
they
have
retail.
On
the
first
floor,
none
of
those
sales
that
he
provided
has
retail
on
the
first
floor
and
the
other
difference
is
they
have
a
much
larger
lots
which
allow
for
storage
of
things
like
rvs
boats.
C
You
know
you
can
store
those
things
cars
things
like
that
and
this
for
these
two
particular
properties,
because
the
the
dense
area,
they're
on
small
lots,
there's
no
area
to
store
vehicles
for
rental
purposes.
There
is
parking
spaces,
but
it's
meant
for
transient
purposes.
You
know
for
guests
to
come
through,
do
do
whatever
it
is.
They
need
to
do
shop
at
the
abc
which
this
this
particular
one
on
fillmore
street
has
an
abc,
liquor
store.
It's
got
a
salon
or
a
barber
shop.
C
Excuse
me
a
locksmith,
but
once
and
and
when
I
reviewed
co-star
for
sales,
I
tried
to
look
at
what
was
in
the
fairfax
alexandria,
because
we
haven't
had
a
sale
recently
and
the
only
sales
that
I
could
find
were
portfolio
sales
where
they
sold
as
a
group,
and
those
cap
rates
were
showing
at
3.6
to
5.5.
C
So
ours
is
at
7.3
and
that's
loaded.
So
that's
that's
all
I
have
for
the
moment
I'm
open
for
questions.
Thank
you.
D
Yes,
this
is
for
the
applicant
in
the
industry.
What
is
the
standard
vacancy
rate
for
the
storage,
self
storage.
B
Well,
it
varies
really
market
by
market
and
depending
where
you're
at
in
the
country,
but
within
the
virginia
market.
It
really
varies
again
where
you're
at
in
the
state
here
in
arlington,
it
could
be
up
to
five
to
ten
percent,
but
it
could
even
be
higher
in
other
parts
of
the
state.
D
B
D
Follow-Up
question:
to
that:
are
there
any
kind
of
discounts
or
incentives
or
free
rent
or
anything
of
that
nature
offered
in
order
to
lease
up
the
storage
facility.
B
At
the
moment,
no
there's
no
sort
of
discounts.
You
know
for
these
self-storage
facilities,
especially
there
in
arlington,
but.
B
Varies
market
by
market,
but
right
there
in
arlington.
To
my
knowledge,
there
is
no
current
discounts
for
any
sort
of
you
know
let
there
be
one
month's
free
rent,
two
months
free
rent.
They
don't
have
any
such
offers
at
the
moment
that
I'm
aware
okay.
D
B
B
I
just
left
that
at
eight,
even
my
cap
rate
also
includes
the
effective
tax
rate,
because
my
real
estate
taxes
were
not
included
in
my
expenses,
so
the
cap
rate
was
loaded,
so
my
overall
cap
rate
was
9.1
and
I
believe
that's
a
very
fair
assessment
for
using
that
cap
rate.
I
believe
lori
was
using
an
overall
cap
rate
of
a
little
over,
I
believe,
seven
percent,
so
she
she's
right.
B
G
Just
real
quick,
the
appellate-
and
this
is
an
assumption
on
my
part-
that
you're
looking
at
the
entire
state
of
virginia
and
self-storage
units-
I
would
you
can
tell
me
if
I'm
wrong
are
the
are
the
rates
that
they
lease
at
and
therefore
the
revenue
differ
in
throughout
the
state
at
the
different
units
and
yes,
good.
B
Yeah,
no
you're
right
and
the
the
sales
that
I
used.
Obviously
you
don't
have
sell
storage
facilities
selling.
You
know
you
know
week
after
week
within
arlington,
so
I
try
to
give
a
snapshot
of
sales
across
the
state
within
the
last
three
years
or
so
there
wasn't
too
many.
You
know
self-storage
facilities
selling
within
arlington,
specifically,
but
that
was
just
supplemental
an
approach
to
value.
On
top
of
my
income
analysis,
my
main
argument
is
based
off
the
income
approach
rather
than
the
sales.
B
The
sales
was
just
to
give
everyone
a
snapshot
to
see
what
these
are
selling
for
within
the
region.
That's
not
my
argument,
for
you
know
I'm
not
trying
to
decrease
this
value
down
to
what
my
average
sales
were,
which
was
roughly
163
dollars
a
square
foot.
That's
the
supplemental
data
that
I
wanted
to
provide
everyone
to
see
what
these
are
selling
for.
My
main
approach
is:
hey
the
income
approach
and
I'm
requesting
this
to
be
lowered
from
three
hundred
sixty
seven
dollars
a
square
foot
to
three
hundred
twenty
six
dollars
a
square.
G
That's
foot
I
was
trying
to
get
at
is
the
revenue
and
the
income
from
this
facility
and
this
market
compared
to
a
facility
in
I
don't
know,
roanoke
the
level
of
income
that
they're
producing
helps
determine
what
that
value.
Is
that
that's
all
I
was
trying
to
get
at
and
ask
if
they,
if,
if
there's
a
standard
rate,
that
through
extra
space
uses
or
every
jurisdiction,
is
different
and
therefore
their
revenue
is
different
and
the.
B
Value
of
the
unit's
different-
absolutely
not
all
of
these
are
obviously
the
same
size.
You
know
they
don't
have
the
same
storage
capacity.
You
know
they
don't
have
the
same.
You
know
number
of
units
lockers
so
yeah.
If
an
investor
is
going
to
come
in
and
try
to
say,
purchase
this
particular
storage
or
sell
storage
building,
they're
going
to
want
to
look
at
the
income
and
expenses
right.
Any
of
us
would
want
to
see
how
this
property
is
performing
to
derive
a
value
and
that's
exactly
what
we're
doing
here.
A
H
Just
a
quick
one,
virginia
abc's
still
leasing
the
ground
floor
unit.
B
H
Lori,
do
you
have
the
income
from
the
abc
is
in
this
analysis,
right.
C
C
So
you
know
on
this
one
I
didn't
write
if
it
was
storage
or
retail.
I
just
put
down
physical
vacancy
ten
percent,
but
if
you
give
me
a
second,
I
can
tell
you
what
that
is
off
of
me.
Grab
my
rent
roll.
C
It
looks
like
the
the
vacancy
has
to
do
with
the
storage
and
not
the
retail.
A
H
C
Okay,
I
apologize.
I
missed
half
of
your
sentence.
H
B
Yeah,
I'm
just
trying
to
see
which
line
item
you're
talking
about
in
terms
of
retail
rent.
B
C
D
C
C
Sure,
once
again,
this
is
a
a
storage
facility.
That's
actually
different
than
any
of
the
this
one
and
the
neighboring
one
that
we're
going
to
be
hearing
about
next.
What's
different
about
these,
is
they
have
a
ground
floor
of
full
retail?
C
Any
of
the
storage
facilities,
the
other
storage
facilities
in
arlington
county
do
not
have
that
and
once
again
I
did
review
the
list
of
sales
that
the
agent
provided
and
none
of
those
have
retail
on
the
first
floor.
So
this
that's,
what
kind
of
makes
this
a
unique
property
if
I
could
come
up
with
a
separate
cap
rate
for
that?
Yes,
that
would
be
great,
but
I'm
I
was
not
able
to
ascertain
that.
C
I
did
review
co-star
for
sales
of
storage
facilities
in
the
fairfax
alexandria
area
and
those
were
portfolio
sales
and
they
were
showing
a
cap
rates
of
3.6
to
5.5
percent
and
once
again
our
cap
rate
is
at
7.3,
and
that
is
loaded
and
also
this
this
facility,
you
know
instead
of
retail,
on
the
first
or
because
it
has
retail
on
the
first
floor
and
it's
in
a
densely
populated
area,
you
don't
have
the
large
landmass.
C
That's
usually
usually
associated
with
self
storage
facilities,
where
they
can
actually
rent
out
parking
slips
for
cars,
rvs
boats
and
that
sort,
and
that's
what
makes
this
property
unique.
But
once
again,
I
would
like
you
to
take
a
look
at
column
d,
which
is
the
january
1
assessment
and
and
look
at
our
noi
it's
considerably
lower
than
what
is
being
reported
on
the
2021.
B
Oh
yes,
absolutely
I
just
want
to
make
it
clear
that
the
retail
of
this
building
is
just
a
very
small
percentage
of
what
the
overall
building
is,
which
is
self
storage.
If
anything,
I
think
the
leap
retails
less
than
five
percent
of
the
overall
size
of
the
buildings.
So
I'm
just
trying
to
stress
that
you
know
this
is
the
self
storage
facility.
The
retail
is
just
minor
income
from
the
overall
income
that
we're
looking
at.
B
So
you
know
based
off
of
our
base
cap
rate,
which
is
being
utilized
from
realty
rates
at
8
and
with
the
effective
tax
rate
of
1.15
from
2021.
You
know
our
loaded
cap
rate
of
9.1.
I
do
feel
that's
very
fair,
and
this
indicated
value
of
18
million
957,
even
which
equates
to
326
dollars
a
square
foot.
I
believe
that's
a
fair
value
for
this
for
this
site.
H
I
mean
historically,
it
looks
super
stable
and
counties
using
the
guidelines
which,
to
me
are
probably
more
than
fair
for
income
producing
covered
land
in
clarendon,
so
she
actually
is
a
little
bit
lower
on
noi
than
the
2021
actually
she's
kind
of
a
lot
lower
than
21
at
true
noi.
So
I'm,
okay
with
the
number.
A
Yeah,
I
agree
if
you
look
at,
I
mean
because
this
really
is
a
cap
rate
issue.
I
mean
the
noi,
it's
obvious.
What
the
appellant
has
put
in
in
the
test
is
higher
than
what
the
county
originally
used,
and
it
would
certainly
cap
out
higher
if
we
were
using
the
appellant's
number
with
the
county
cap
rate.
So
other
folks.
D
Yeah
mary,
this
is
barnes
again.
What
I
wanted
to
share
with
the
board
is
this:
property
is
zoned
cth
and
when
you
look
at
the
building,
it
does
not
look
like
a
self
storage.
It
looks
like
any
other
reta
residential
building
up
and
down
fairfax,
rivals
and
boulevard
and
in
this
area,
and
it
cost
a
ton
more
to
construct
this
than
it
than
it
would
say,
self-storage
over
there
in
false
church
or
fairfax.
D
It
doesn't
have
to
look
like
it's
residential,
and
so
the
skin
of
this
building
cost
a
lot
more
to
put
up
than
any
competing
self
storage.
Having
said
that,
you
know
that
was
years
ago,
and
if
it's,
if
it's
assessed
as.
I
D
Producing,
I
think
what
the
county
has
come
up
with
and.
H
D
D
J
Sorry
about
that
yeah,
not
necessarily
contrary
to
what
everybody
else
said,
but
you
know
I
like
with
many
other
cases,
I've
redone
the
numbers-
and
I
think
you
know
if
we
really
look
at
the
noi
and
the
true
numbers,
this
would
be
closer
to
21
million
rather
than
the
assessment,
the
way
it
is
and
historically
we
haven't
really
compared
to
other
properties
that
are
outside
arlington,
not
even
fairfax,
because
there's
a
difference
in
the
assessments,
the
way
they
are
so
yeah,
I'm
more
than
okay
with
it.
G
A
H
A
Mr
huffman,
all
in
favor
of
that
opposed
okay,
it's
unanimous
six
to
zero.
The
county
is
confirmed
at
20
million
303
200.
A
Okay,
we
will
finish
with
this
appellant,
so
we'll
move
to
the
fourth
item
on
the
agenda.
Rpc
one
eight
zero,
two,
eight
zero,
two
one
at
three
thousand
tenth
street
north,
mr
marzinski.
You
can
start
with
your
eight
minutes
and
tell
us
about
this
property.
Sir.
B
All
right
so
a
very
similar
situation
to
the
last
case.
As
you
can
see,
we
did
submit
income
and
expenses
for
this
self-storage
facility,
they're
on
10th
street,
again
same
argument
in
terms
of
actual
income
and
expenses
utilize
year,
end
2020
and
2021,
income
and
expenses.
B
We
utilize
the
same
cap
rate
of
8
percent,
which
was
being
utilized
from
realty
rates.
We
have
a
loaded
cap
rate
of
9.1,
the
current
assessed
values
on
430
million
350
200,
which
equates
to
285
dollars
a
square
foot.
B
Our
indicated
value
comes
in
at
roughly
25
million
393
2235,
which
equates
to
238
dollars
a
square
foot.
It's
roughly
5
million
dollars
less
than
what
the
current
assessed
value
is
on
for
no.
B
So
just
wanted
to
highlight
to
everyone
that
the.
B
Did
decrease
year
over
year
from
year
on
2020
to
year
end
2021,
it's
approximately
a
four
percent
decrease.
I
was
hoping
everyone
on
the
board
here
could
consider
that
and
a
wide
decrease
within
our
overall
valuation.
B
We
also
did
provide
sales,
like
I
did
for
the
last
site,
same
exact
sales.
Again,
you
don't
have
too
many
sell
storage
facilities
selling,
often
but
again
we
looked
at
the
same
subset
of
sales
across
the
state
of
virginia
and
again.
I
don't
want
to
look
at
or
stress
on
sales
as
being
the
overall
value,
but
our
overall
sales
for
this
for
these
types
of
facilities
came
in
at
an
average
of
156
dollars
a
square
foot.
B
My
main
argument
here
is
again
based
off
the
income
analysis
and
based
off
the
year
end
2020
noi,
which
was
year
on
2021
noi,
which
was
2
million
324
000
and
use
it
utilizing
the
cap
rate
of
9.15.
Our
indicated
value
is
25
million
393
000..
That's
all
I
have
to
say
for
this
site
again.
It's
a
very
similar
argument
to
what
we
had
for
the
last
self
storage
facility
that
we
just
talked
about.
C
C
It's
a
very
small
footprint
lot
and
it
has
retail
throughout
the
first
floor
and
then
storage
above
and,
as
you
know,
once
again,
the
agent
did
submit
the
same
sales
for
this
particular
case,
as
he
did
with
the
last
one,
which
I
did
review,
and
I
did
note
that
the
physical
vacancy
for
the
storage
was
at
12.6
percent
and
the
retail
was
at
24.
C
A
Okay,
thank
you
very
similar
to
the
first
case
that
we
heard.
Is
there
any
questions
from
board
members
that
wasn't
addressed
in
the
first?
Mr
lawson,
do
you
have
any
questions.
C
Just
want
to
ask
request
that
you
accept
the
give
strong
consideration
to
the
original
january
1
assessment
with
an
noi,
that's
substantially
less
than
what's
being
reported
for
the
2021..
Thank
you.
Okay,.
A
B
Sir,
I
was
just
hoping
the
board
would
consider
these
incoming
expenses
and
the
cap
rate
that
I'm
utilizing
here,
which
survives
this
value
of
25
million
thousand.
Do
you
believe
it's
a
little
bit
over
assessed
there
where
it's
currently
on
for
200,
but
I
hope
everyone
would
definitely
consider
these
actual
income
expenses
that
I'm
utilizing.
A
Okay,
thank
you.
We
are
now
beyond
questions.
It's
just
among
the
board
members
very
similar
to
the
case
before
where's
everybody,
mr
hoffman.
H
I
feel
the
same
way
I
just
real
quick.
I
think
both
of
these
cases
lori
did
a
really
good
job
kind
of
pulling
out
all
the
financial
info
and
getting
to
the
heart
of
it
and
and
actually
giving
them
a
little
bit
of
the
benefit
of
doubt
on
noi.
So
I
appreciate
it.
It
makes
an
easy
decision.
F
Very
quickly,
this
is
metro,
accessible,
nice,
looking
buildings,
high
highly
concentrated
population,
high
rates,
stable
retailers
except
fillmore
street.
There
was
one
1100
square
foot
space
vacant
for
two
years,
really
really
at
the
end
of
the
dead
end
street,
but
that's
been
rented
the
last
year
or
more,
certainly
during
this
assessment
period.
So
I
didn't
say
much,
I
didn't
say
anything
about
the
last
case,
but
I'm
lumping
them
together,
saying
that
I
strongly
support
the
department's
assessment.
A
All
right
with
those
comments,
and
I
will
move
to
confirm
the
county
at
the
30
million
350
200.
Do
I
have
a
second,
mr
hoffman
again
for
a
second
all
in
favor
aye
opposed
okay,
it's
unanimous.
The
county
is
confirmed
at
30
million
350
200.
A
Okay,
we're
somewhat
moving
around
the
board
here
so,
and
I
believe
I
saw
mr
farhad
come
in
first.
A
Well,
let's
clean
this
up:
first,
okay,
so
on
the
agenda,
the
rpc
one,
eight
zero,
seven,
five,
zero
three
six
at
2310
washington
boulevard
that
was
withdrawn
back
on
may
26th
and
since
that
was
outside
the
ten
day
limit
that
doesn't
require
any
vote
or
approval
by
the
board.
So
that's
that's
removed
from
the
agenda
so
now
filling
in
on
that
slot.
We
are
moving
to
rpc18064006.
K
Thank
you,
I
don't
think
I'll
need
all
eight
minutes.
I
want
to
just
start
by
saying
that
I
really
appreciate
the
professionalism
of
miss
churchill.
I've
bought
and
sold
properties
for
the
last
20
years
across
five
countries
and
three
continents,
and
I
think
she
was
probably
the
best
professional
that
I've
worked
with
so
far
easily.
K
I
think
we
just
have
a
fundamental
disagreement
with
respect
to
the
property
itself
in
terms
of
how
it's
been
assessed
and
graded
and
the
discrepancy
size
and
that's
not
new
to
me
I
this
is
what
I
do
for
a
living,
I'm
a
criminal
prosecutor
in
the
district,
the
the
the
size.
The
discrepancy
is
a
hundred
and
seventeen
thousand
six
hundred.
K
That's
the
difference
between
sixteen
ninety
two,
six
hundred
that
she
has
adjusted
it
to,
and
1.575
million
that
I
had
determined,
which
was
the
strike
price
for
the
property.
Actually,
the
strike
price
for
the
property
was
lower
than
that
it
was
1.562
500.
K
and
so
that
that
comes
to
116,
000
117
000
discrepancy
not
a
life-changing
amount
of
money,
but
this
the
only
reason
that
I'm
here
and
speaking
to
you
is
because
I
think
this
is
just
a
question
of
fundamental
fairness.
First
and
foremost,
any
grading
with
respect
to
the
finishes
is
too
generous.
This
property
has
basically
the
lowest
end,
finishes
that
you
could
possibly
find
at
a
home
depot
or
big
box
retailer
and
it
the
condition
grading
that
was
provided
just
doesn't
line
up
with
the
the
property
itself.
K
So
I
think
that
was
one
discrepancy.
The
second
one
was
the
useful
square
footage
adjustment
being
decreased
by
20
percent
of
the
improvements
I
I
am
struggling
to
try
to
understand
where
that
standard
comes
from,
where
you
guys
apply
that
from
you
to
arlington
county,
but
the
idea
that
you
would
decrease
the
the
improvements
by
20
in
order
to
be
able
to
compensate
for
that.
What
part
of
your
assessment
manual
or
guidelines
is
that
from
is
what
I
was
most
curious
about.
K
K
I
think
the
issue
is:
is
that
the
owner
of
this
property
that
sold
it
to
me
was
trying
to
historically
inflate
the
value
of
this
property.
K
There
is
no
appeals
with
respect
to
property,
tax
increases
evaluations,
so
on
and
so
forth
over
since
2015,
when
this
property
was
built,
the
size
of
the
discrepancies
between
what
was
the
arlington
county's
understanding
of
how
many
bathrooms,
even
there
were
in
this
property
versus
the
reality
of
it,
was
dramatically
different,
and
that
was
that
those
kinds
of
discrepancies
existed
throughout
the
entire
property
and
were
reflected
in
ms
churchill's
report.
K
Many
of
those
discrepancies
don't
work
in
my
favor.
They
actually
increase
the
value
of
the
property.
Many
of
them
do
when
we're
talking
about
removing.
You
know
five
to
seven
hundred
square
feet
of
space
in
the
property
in
the
basement,
because
that
doesn't
line
up
with
the
plans
that
you
guys
have.
I
think
that
should
be
sending
a
red
flag
as
to
whether
or
not
the
original
base
valuation
that
you
started
with
in
2015
and
then
built
upon
every
year.
K
Subsequent
using
fixed
percentages
was
wrong
to
begin
with,
so
I
think
we
need
to
start
afresh
in
terms
of
what
we
believe
the
valuation
is.
The
only
way
that
we
can
come
to
a
clear
conclusion
on
that.
I
believe,
based
on
my
having
had
meetings
like
this
with
boards,
like
yourself
at
at
counties
across
the
world,
is
to
establish
that
the
only
way
of
being
able
to
figure
out
the
true
assessed
value
of
this
property
is
either
via
independent
assessment
and
jpmorgan
came
in.
K
But
in
addition
to
that,
I
think
the
true
way
in
which
we'll
be
able
to
come
to
a
conclusion
with
respect
to
this
property
is
to
understand
what
the
market
value
was.
At
the
time,
the
seller
started
trying
to
sell
this
property
at
1.975
million
dollars,
suspiciously
similar
to
the
original
assessment
in
2022
of
1.1,
sorry
or
1.912.
K
K
That
should
give
you
some
pause
as
to
what
happened.
This
guy
dropped
the
price
of
this
property
by
a
hundred
thousand
dollars
every
two
weeks
for
months
in
the
hottest
property
market
in
the
history
of
the
country.
This
is
a
market
in
which
people
would
walk
into
a
property,
sometimes
cite
unseen
bidding
on
them
from
across
the
country
and
say
yes,
just
go
ahead
to
their
realtor
realtor,
just
buy
it
yet
suspiciously.
This
property
in
a
prime
location
was
not
seen
by
anybody
and
eventually
was
only
bid
on
by
one
person.
K
I
think
that
should
be
giving
you
guys
some
pause,
so
I
think
that
the
the
correct
value
to
assess
these
properties
by
that
are
over
a
million
dollars
in
your
accounting.
Is
the
strike
price
that
being
the
ceiling?
If
there's
an
adjustment
downward
that
needs
to
be
made,
that
would
make
sense,
but
that
has
to
be
the
ceiling
in
the
county.
The
reason
that
we've
not
used
historically
and
financial
fraud
is
actually
my
area
of
expertise
when
it
comes
to
prosecution.
K
The
reason
that
we've
historically
not
used
strike
prices
when
it
comes
to
real
estate
assessments
in
this
country
is
because
we
did
originally
and
then
we
moved
away
from
it,
because
there
was
a
ton
of
financial
fraud.
You
had
a
500
000
house
you'd,
give
a
hundred
thousand
dollars
to
your
buddy
in
cash
you'd
purchase
it
for
400
000.
That
would
decrease
your
property
tax.
That's
no
longer
applicable
here
with
numbers,
this
large
of
1.575
million.
K
It's
impossible
almost
to
be
able
to
get
around
money,
regulation,
money
laundering,
regulations
to
be
able
to
try
and
even
attempt
to
do
something
like
that.
So
again,
I
think
the
purchase
price
has
to
be
the
ceiling
in
this
county.
Now
I
know
what
I'm
saying
is
probably
going
to
lead
to
some
eye
rolling.
It's
going
to
lead
to
people
saying
you're,
trying
to
ask
us
to
completely
change
our
standard
here.
That's
ridiculous!
K
L
Okay,
good
morning
board,
this
property
was
inspected,
both
interior
and
exterior.
On
february
3rd
of
22
with
tresovitis,
the
home
is
a
two
and
a
half
story:
vinyl
siding
and
brick
veneer
home
with
eight
bedrooms,
two
half
baths,
two
five
full
baths
and
one
extra
fixture
the
basement
is
finished
and
the
home
also
includes
an
elevator.
L
The
year
built
in
effective
age
is
2015
with
quality
of
excellent
minus.
The
appellant
feels
that
the
assessment
value
is
too
high
and
recent
sale
price
should
reflect
the
correct
value
of
the
home.
The
appellant's
neighborhood
506057
increased
on
average
5.9
percent
due
to
the
sales
that
occurred
within
the
analysis
period
and
within
the
neighborhood.
L
L
L
The
bathroom
fixture
count
was
corrected
from
five
fixture.
Five
two
eight
two
one
singular
five
fixture
was
changed
to
a
three
fixture
bathroom
the
base
square.
Oh
I
misspoke,
but
the
basement
square
footage
was
actually
changed
from
1900
to
1723.
So
when
I
spoke
earlier,
the
base
square
footage
was
changed
from
1627
to
1165..
L
I
D
Yeah,
for
this
is
for
the
county,
your
comps
one,
two
and
three
are
on
cleveland
and
daniel
up
there
by
10th
street,
and
this
property,
though,
is
it
seems
like
it's
in
a
different
neighborhood.
It's
on
the
other
side
of
washington
boulevard
down
towards
route
50.,
and
so
I
guess
my
question
is:
were
there
no
comps
closer
or
on
this
same
block
or
on
this
side
of
washington
boulevard
that
you
could
look
at.
L
So
they
are
actually
within
the
same
neighborhood.
That
is
one
of
my
largest
neighborhoods
that
I
have,
I
think,
all
of
the
review.
All
of
the
appeals
that
I've
had
this
year
almost
are
from
that
neighborhood.
It
is
very
large,
so
it
is
within
the
neighborhood.
But
when
we
looked
at
the
comps
we
tried
to
find
obviously
similar
size.
You
know
so
they
were
the
closest
to
the
property
of
the
same
size
and
if
we
try
to
pick
obviously
the
closest
comparables,
but
it
is
within
the
same
neighborhood.
H
Yeah
just
for
the
appellate,
because
I'm
looking
through
the
photos
and
the
appraisal
from
jp
morgan,
it
looks
like
I
mean,
there's
like
mattresses
on
the
floor.
There's
kind
of
like
card
tables
strewn
about
it
was
this.
Like
was
the
builder
living
in
there
I
mean
it
looks
like
it
wasn't
staged
for
a
sale.
Is
that
correct.
K
The
property
was
staged
for
sale,
just
barely.
I
think
they
put
in
a
couple
of
couches
and
stuff
like
that,
those
those
photos
were
taken
after
we've
moved
in
and
while
you're
going
through
them.
Please
focus
on
the
photo
of
the
bathroom
with
the
throat
green
tile
as
well,
because
that's
throughout
three
of
the
five
bathrooms
in
this
house,
my
dog,
I
wouldn't
even
allow
my.
L
Okay,
again,
I'd
like
to
remind
you,
there
was
a
20
adjustment
made
to
the
improvement
due
to
the
poor
layout
within
the
home,
and
there
were
multiple
corrections
made
after
after
doing
the
interior
inspection,
I
think
the
the
quality
and
everything
else
appeared
in
line
along
with
the
elevator
that
was
included,
but
as
a
result
of
the
review,
the
interior
inspection
information
submitted,
we
did
determine
that
the
changes
needed
to
be
made,
so
we
do
recommend
that
you
confirm
the
2022
amended
value
of
one
million
six
hundred
and
ninety
two
thousand
six
hundred.
K
Sure-
and
I
and
I
think
that
what
board
member
barnes
was
getting
at
is
also
another
thing
that
I
wanted
to
mention
earlier
too,
which
was
that
the
properties
that
this
is
comped
against
are
so
much
further
north.
I
understand
they're
technically
in
the
same
neighborhood,
but
they're
so
much
further
north
and
we
all
know
about
how
values
decrease
as
you
move
closer
to
that
line
with
u.s.
H
I
mean
there's
some
terrible
stuff
on
the
interior
of
this
house
when
I
see
that-
and
I
hear
that
there's
a
a
bad
interior
layout
there's
an
elevator
which
I
don't
think
really
kind
of-
is
a
super
desirable
feature
in
this
market.
That's
going
to
push
the
price
up
the
marketing
period!
H
All
of
these
factors
when
you're
talking
about
selling
a
home
for
a
million
six
or
a
million
seven,
it's
going
to
scare
away
a
lot
of
buyers
and
I
think
that's
what
happened
so
I
mean
appellant
came
in
with
the
price
or
with
a
fair
number,
that's
higher
than
what
he
actually
bought
it
for
I'm
inclined
to
support
that
assessment.
F
I
saw
a
lot
of
this
issue
being
the
quality
of
the
of
the
improvement.
Clearly,
the
appellant
did
the
right
thing.
By
appealing
this,
it
was
over
stated
in
the
county's
records
and
counties
come
out
and
rectify
to
a
large
extent,
certainly
in
objective
standards,
size
of
this
and
size
of
that
and
square
footage
of
something
else.
So
it
comes
down
to
the
appellant's
opinion
that
it's
the
lowest
grade,
finishings
possible,
which
may
be
an
overstatement,
but
still
I
I
buy
it
and
and
the
department
looking
at
it
saying.
F
Oh,
this
isn't
too
bad.
I
mean
excellent.
Minus
is
nothing
to
sneeze
at
it's
a
little
bit
less
or
equal
to
the
comps,
but
it's
not
bad.
So
I
I
so
we
have.
You
know
disparate
opinions
here
and
I
I
guess
I
gotta
go
with
the
people
who
are
trained
with
making
these
kinds
of
quality
assessments,
namely
the
appraiser.
F
Therefore,
in
that
one
big
contention,
the
other
one
is,
of
course
it
was
brought
up
twice-
is
that
this
property
is
really
far
less
metro
accessible
than
the
comparables,
but
I
I
certainly
wouldn't
be
and
therefore
all
other
things
being
equal,
less
valuable,
but
all
things
aren't
equal.
This
is
much
much
larger
than
the
comparables
in
all
kinds
of
ways.
F
So,
knowing
that
we
never
have
a
perfect
agglomeration
of
information,
that's
impeccable!
That's
impeccable!
I
have
to
go
with
the
appraiser's
assessment.
D
Yes,
thank
you
ma'am.
I
guess
my
thing
is
a
little
bit
different
than
than
what
I've
heard
so
far.
You
know,
and
I
agree
with
the
property
owner
about
the
professionalism
of
miss
churchill,
she's,
very,
very
good.
D
I
think
on
on
this
particular
one,
though
we
had
a
very
lengthy
sales
effort
that
went
on,
and
you
know
we
when
we
do
our
training,
we're
told
that
often
the
best
indication
of
value
is,
you
know
a
recent
sale
of
you
know
the
specific
property,
and
so
you
know
I
may
be
alone
in
this,
but
I
I
think
we
should
lower
it
to
the
price
that
was
paid
for
it.
The
the
one
million
five
hundred
sixty
to
five
hundred.
J
I
think
the
miss
churchill
did
a
very
good
job
in
adjusting
really
the
values
that
are
there
and
to
me
it's
one
of
those
situations
that
we
see
plenty
times.
You
know
that
the
price
that
you
pay
not
necessarily
is
it
established
price
or
market
value.
Sometimes
you
get
a
good
deal.
I
think
in
this
case
I
think
the
appellant
did
get
a
good
deal
and
I
think
the
assessment,
the
way
it
is,
is
valid.
You
know
I
looked
at
the
pictures
of
the
property
when
it
was
listed.
J
Of
course,
the
they
look,
it
was
empty.
It
looks
in
very
good
condition.
The
bathrooms
are,
you
know,
seem
to
be
renovated,
so
you
know
the
appraisal
that
they
did
was
apparently
for
a
refinance
based
on
what
it
was
there.
So
I'm
not
really
too
inclined
to
go.
I'm
okay
with
the
assessment.
The
way
it
is.
G
I
was
looking
you
know
there.
I
think
there
is
a
location
difference.
I
do
and
I
do
look
at
that
sales
period,
the
without
seeing
something.
I
don't
really
understand
the
issue
of
the
flow
within
the
house,
but
I
have
a
hard
time
when
you've
got
a
sale
price
and
I
do
agree,
people
do
get
goodbyes,
sometimes.
G
A
G
Okay,
unless
someone
else
is
going
to
change
your
mind,
it
looks
like
the
what
county
number
will
hold.
G
J
I
will
go
ahead
and
move
that
we
confirm
the
revised
assessment
of
one
million
six.
Ninety
two
six
hundred.
D
A
Okay,
so
it's
four
to
two:
the
counties
revised
number
of
one
million
six.
Ninety
two
six
hundred
has
been
confirmed.
A
Okay,
so
now
moving
to,
I
believe
I
saw
miss
jacobson.
A
I
Yes,
thank
you.
Thank
you
for
your
time
today.
I
wanted
to
share
that.
I
think
that
the
comps
that
I
I
shared
earlier
this
year
in
response
to
the
the
county's
assessment,
are
closer
to
being
helpful
in
assessing
the
the
value
of
my
home.
I
Not
only
are
each
of
them
in
my
neighborhood
at
least
three
are
just
a
few
houses
away
all
had
larger
lots.
All
were
tear
downs,
which
I
I
have
no
plans
to
move
I'd
like
my
girls
to
continue
to
grow
up
here.
But
if
that
were
the
case,
I
I
feel
pretty
confident
that
our
home
would
not
be
desirable,
as
this
would
be
primarily
the
value
of
the
lot
itself
and
in
addition
to
the
fact
that
those
properties
were
larger
and
sold
for
less.
I
I
So
that's
that's
far
less
than
eight
minutes,
but
that's
what
I
have.
A
Okay,
thank
you.
Miss
churchill
again
for
the
county.
L
The
property
is
a
two-story
shingle
asbestos,
single
family
home
with
three
bedrooms,
two
full
bathrooms
and
a
finished
basement
the
year
built
is
1938
with
an
effective
age
of
1985,
and
the
quality
is
good.
Plus,
the
appellant
feels
increased
to
its
property
is
unfair.
Due
to
the
market,
the
comps
submitted
by
the
homeowner,
the
first
one
was
2806
first
road
north
it
had
a
sales
price
of
808,
812
500,
which
is
currently
owned
by
an
llc
and
a
land
sale.
L
L
This
property
is
a
two-story,
brick
veneer
home
with
an
unfinished
basement.
With
a
year
built
of
1937
an
effective
age
of
1965.,
the
quality
is
average
plus
the.
So
three
out
of
the
four
comparables
submitted
by
the
homeowner
are
land
sales
which
we
use.
We
don't
consider
them
as
as
a
true
comparable,
but
we
do
use
it
in
regards
to
what
we
consider
the
land
is
worth
in,
that
neighborhood,
the
appellant's
neighborhood
506057
increased
on
average
5.9
due
to
sales
that
occurred
within
the
analysis
period
and
within
the
neighborhood.
L
L
A
Okay,
thank
you.
I
have
a
quick
question
for
the
county,
mr
chill,
on
the
come
forward
that
the
appellant
gave
us
the
2802
first
road,
yes
north
and
it
sold
at
908..
What's
the
assessment
on
that
property,
it.
L
H
Just
recalling
this
one
from
last
year,
question
for
the
county
is:
was
there
a
small
lot
size
adjustment?
There
were
two
issues.
I
think
we
had
a
non-conforming
lot.
It
was
like
3
800
square
feet
and
there's
no
driveway
so
you're
on
a
narrow
street,
where
parking
is
difficult
and
there's
no
driveway
and
and
there's
no
width
to
add
a
driveway.
So
was
there
any
land
adjustment
made
in
the
assessment
that
we
should
be
thinking
about.
I
H
G
I
I'm
like
right
at
the
the
curve
where
cleveland
turns
into
first
road
and
we're
also
right
by
long
branch
elementary
and
so
for
the
drop
offs
and
pickups
parking
will
frequently
spill
over
into
this
street.
H
D
L
H
M
Board
this
is
travis
sheldon,
I'm
a
tenured
appraiser
sitting
on
the
hearing
today,
and
I
just
wanted
to
step
in
and
add
some
clarification
to
the
question
that
mr
hoffman
had
presented.
Looking
at
the
worksheet,
the
average
lot
size
for
the
neighborhood
is
6
322
square
feet.
The
appellant's
lot
size,
as
you
mentioned,
was
substandard
to
that
in
our
valuation
system.
M
M
A
Okay
and
what
is
the
base?
6
000
square
foot
lot.
A
D
I
have
a
quick
question:
if
I
could,
how
many,
how
many
square
feet
of
finish
area
is
it
I
I
see,
is
it
1152
or
1686.
L
D
L
H
L
A
F
I
have
a
question
primarily
for
craig.
Do
you
did
you
capture
in
your
notes?
Do
you
still
retain
your
notes
on
why
we
lowered
it
last
year.
H
Yeah,
let's
see
comp
one
had
a
driveway
in
a
garage
comp,
2
had
a
driveway
comp.
3
was
on
a
different
street,
a
few
blocks
over
which
was
wider
and
comp
4
had
a
driveway
and
a
detached
garage.
H
A
H
Greg
go
ahead,
greg
yeah,
I
mean
I
went
through
the
same
logic.
It's
about
the
same
reduction
on
the
land
value
as
last
year
when
you,
when
you
run
the
numbers
through,
the
total,
would
be
910
280,
which
is
a
three
percent
increase
over
last
year's
assessment,
and
I
think
I
think
910
for
a
tiny
house
on
a
postage
stamp
lot,
where
there's
really
no
ability
to
build
anything
larger
in
the
future
is
is
pretty
fair.
I
G
H
All
right,
I'll
outmotion,
there's
no
more
comments,
reduce
the
counties,
reduce
the
assessment
to
910
280
based
on
the
land
reduction
of
five
percent.
D
A
A
Okay.
The
last
case
on
the
agenda
is
somewhat
interesting.
I
understand
mr
chicas
is
not
here,
and
mr
knox
is
not
here.
A
Okay,
so
you
are
here,
okay,
so
well,
let's
call
the
case
first,
and
so
the
last
final
case
on
the
agenda
is
rpc1506005.
A
N
Yeah
this
this
kind
of
came
together
last
minute
I
apologize
for
that.
We
received
new
information.
I
think
it
was
last
wednesday
or
thursday
regarding
the
unit
mix
that
obviously
affected
a
little
bit
of
the
gross
potential.
We
did
put
out
a
revision
but
weren't
able
to
offer
it
to
mr
knox
until
monday,
and
at
that
point
we
basically
told
him
at
this
point.
You
know
it's
best
just
to
go
to
the
board
and
if
you're
accepting
of
it,
you
can
tell
the
board
members
and
generally
they're
accepting
of
your
accepting
of
the
covenant.
N
But
you
know
it's
something
we
would
have
them
here
and
then
this
morning
mr
knox
fell
ill
and
so
just
wanted
to
pursue
this
covenant.
So
I
said
it
made
more
sense
just
to
relate
it
to
you
all
and
you
could.
I
guess,
accept
that
revision.
N
Yeah,
I
relayed
that
to
them
as
well.
That
was
the
biggest
problem
we
had
was.
Obviously
cases
of
equity
being
equitable
with
similar
property
types
is
using
the
same
type
of
forms
using
the
same
information,
etc.
He
did,
you
know,
express
his
willingness
to
do
this
in
the
future.
This
was
actually
one
of
four
or
five
reviews
he
filed
this
year
and
it
was
similar
issues,
so
we
expressed
to
them.
N
You
know
we'll
take
what
we
get
as
far
as
these
income
statements,
but
we
definitely
prefer
to
have
standardized
forms,
which
is
why
we
send
out
our
ines
twice
a
year.
N
For
this
one,
I
think
it
was
last
six
years
he
provided
year
2020..
He
did
offer
me
a
cop
in
the
sense
that
he's
using
a
new
property
management
company
and
has
since
left
the
the
last
one
that
provided
us
ids
in
2020.
So
you
know
I
share
the
frustration
chairman
dooley,
it's
more
just
we,
you
know
we
have
to
kind
of
work
with
what
we
get.
N
A
All
right,
so
I
I
don't
know
what
the
board
wants
to
do.
My
feeling
is
to
get
something
at
the
last
minute
and
not
have
a
chance
to
even
look
at
it.
I'm
not
and
the
fact
that
he's
not
provided
the
information
on
the
forms
which
is
you
know,
we
say
to
people
all
the
time.
You
don't
give
the
information.
You
know
this
is
what
you
get
so
then
to
cut
a
deal
based
on
at
the
11th
hour,
getting
new
information,
I'm
not
for
reducing
it.
So
I
don't
know
what
anybody
else
thinks
mr
gates.
G
To
the
county,
obviously
would
with
the
new
information
and
the
going
forward,
would
you
be
adjusting
next
year,
based
on
what
you're
learning
now.
G
N
Exactly
that
was
the
biggest
problem
is
normally
without
ines,
we're
reliant
heavily
on
guidelines,
and
so
that
was
the
other
side
of
the
equation
that
we
presented
to
mr
knox
was
one
of
the
reasons
our
initial
projections
were
so
far
off
is
because
we
haven't
had
that
data
for
four
or
five
years
now,
at
least,
even
though
it's
a
supplemental,
you
know
whatever
it
is:
income
and
loss
tax
data,
at
least
it's
data.
We
have
now
that
we
can
stabilize
our
four
year
period
and
then
make
a
better
projection
for
2023.
N
So
we
told
him
we
appreciated
that
we
feel
we
feel
pretty
good
about
those
numbers.
It's
just.
Moreover,
it's
the
the
way
we
got
them
the
way,
they're
produced
and
again
the
lack
of
uniformity
with
other
property
types.
But
you
know
I'm
not
sure
how
much
it
would
have
changed
our
valuation
if
they
used
the
ines
as
opposed
to
what
they
used.
G
N
N
When
I
reached
out
to
him
to
ask
about
the
hearings,
he
said
no,
he
was
sending
the
signing
to
three
covenants,
but
the
fourth
one
he
wanted
a
worksheet
when
he
got
the
worksheet.
He
said
that
the
unit
mix
was
incorrect
and
then
that's
when
we
changed
our
revision
last
week,.
N
D
A
A
No,
I'm
not
I'm.
I
don't
know
who's
got
all
that
noise.
In
the
background,
I
am
not
comfortable
voting
on
something
without
seeing
it.
A
H
H
What
I'm
saying,
how
am
I
supposed
to
vote
on
that?
I
would
say
we
either
confirm
the
3894
county's
opinion
or
we
kick
this
thing
to
another
meeting
and
and
if
he
wants
to
come
in
and
explain
the
new
number
and
we
can
go
through
it,
then
we
can
at
least
have
something
to
review.
F
H
J
I
agree
with
you
mary.
I
think
this
is
something
that
we
should
hear
and
also
to
remind
our
parents
that,
if
they're
not
going
to
be
present
and
they
send
somebody
else,
they
need
to
have
a
letter
of
authorization
for
them
to
represent
whatever
case
they're
going
to
present
or
you
know-
and
we
don't
have
anything
in
this
case.
As
far
as
I'm
concerned,
you
know
mr
knox
is
not
present
and
we
have
the
case
in
front
of
us
and
I
think
we
have
to
make
a
decision.
A
G
E
N
N
D
N
N
D
Mary,
I
I'm
again,
I
may
be
in
the
minority
here.
You
know,
I
think
we
always
encourage
the
applicant
and
the
county
to
resolve
it
amongst
themselves.
If
possible
and
yeah.
It
was
last
minute,
but
that's
what
happened
and
if
the
county
is
comfortable
with
the
figure
and
the
landowners
comfortable
with
the
figure.
A
A
You
send
out
the
information
you
know
so
that
everybody's
got
the
full
whatever
the
agreement
is
going
to
be
true.
N
C
A
J
A
A
O
E
It
it
is
outside
of
the
time
period
to
hear
the
cases,
but
we
would
just
have
to
get
some
sort
of
acknowledgement
from
the
property
owners
that
they
would
before
going
that
time
period,
because
it's
it's
it's
really
close
to
the
to
the
to
to
tuesday.
That's
the
thing.
A
Okay,
well,
that's
fine.
There'll
be
certainly
a
quorum
okay,
okay,
so
I
guess
that
completes
the
agenda,
then
all
right
with
no
further
business.
Then
then
we
will
stand
adjourned
here
at
10,
23
and
re-adjourn
next
tuesday
june
14th
at
9
00
a.m,
and
then-
and
also
there
is
no
hearing
on
wednesday,
the
15th,
so
everybody
can
have
a
free
morning
for
your
calendar.