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Home My WebLink About2025_07_23 BOER Minutes Docusign Envelope ID:55C8A716-89E4-4018-AB48-1F92375EE447 MINUTES Orange County Board of Equalization and Review Meeting held on July 23, 2025 Board Members in attendance: Chair of the Board Leon Meyers Yes Regular Member Saru Salvi Yes Regular Member Richal Vanhook Yes Alternate Member Shereese Alston No Alternate Member Hunter Beattie No Alternate Member Tony Blake No Alternate Member Vaughn Compton No Alternate Member Shannon Julian No Alternate Member Barbara Levine No Orange County Staff in attendance: Tax Administrator Nancy Freeman Office Assistant Jennifer Rigsbee Deputy Tax Assessor Chad Phillips Real Property Appraisal Manager Roger Gunn Chief Appraiser Kelly Wells Temporary Appraiser Assistant Rob Teachout Staff Attorney Martha Bordogna Commercial Property Consultant Paul Snow Meeting Schedule: Time PIN or Abstract Appellant Appeared Appeal Type 2:01 PM 9788364372 Epsilon of Phi Gamma Delta Yes Value Inc. 2:29 PM 9873180351 M4 Property Management Yes Value 3:13 PM N/A Neighborhood T706 N/A Value 3:18 PM 9865504253 Yogiri Inc No Value 3:22 PM 9788215807 Knowehead Group LLC No Value 3:31 PM 9788210649 Knowehead Group LLC No Value Time By Meeting called to order 2:01 PM Leon Meyers Meeting adjourned 3:59 PM Saru Salvi Related meeting notes: Information was provided to the Board regarding a study that was recently conducted by a third party vendor at the request of the Tax Office. The vendor compared valuation data from 2024 and 2025 and Docusign Envelope ID:55C8A716-89E4-4018-AB48-1F92375EE447 provided a vertical equity analysis to assess whether lower value homes are being overvalued, and higher value homes undervalued. County assessors are analyzing results of the study. If on review, an issue is determined,the assessors will identify the properties affected by the issue and define value changes needed,then present the findings to the Board. Property Identification: Property Owner Epsilon of Phi Gamma Appellant(if different) George Smith Delta Inc. Property Address 1 108 W. Cameron Street Parcel ID or Abstract 9788364372 Statement of Appeal: Request a reduction in value based on the value of comparable properties. Current Assessed Value $2,592,800 County Opinion $2,592,800 Time of Hearin 2:01 PM Appellant Opinion $2,075,200 County Representative Roger Gunn Board Decision $2,592,800 Evidence submitted by the appellant: • The representative for the appellant states in the appeal form that their opinion of value was based on comparable properties. Evidence submitted by the county representative: • Per our appraisal consultant, "This is one that is so specific in location that the value probably needed more of a push upward. I included two very old sales,but they are adjacent or nearly so and are very,very similar. Adjusted even 3%/yr. for time,they would indicate a much higher value per square foot than the current assessment. A small counterbalance is that 108 W. Cameron is large, and we don't know what the condition is. Overall,the sales support the assessment or a higher value." • Photograph of Subject • Location Map of Subject • Current Property Record Card of Subject • Sales Comparison Approach for Subject Motion of the Board Accept the Coun 's recommendation of no change in value Made the motion Saru Salvi Seconded the motion Richal Vanhook Voted For Leon Meyers Voted Against Property Identification: Property Owner I M4 Property Management Appellant(if different) Brian McGregor Docusign Envelope ID:55C8A716-89E4-4018-AB48-1F92375EE447 Property Address 12207 Leah Drive Parcel ID or Abstract 9873180351 Statement of Appeal: Request a reduction in value based on comparable sales and values in the same business park. Current Assessed Value $2,170,600 County Opinion $2,1705600 Time of Hearin 2:29 PM Appellant Opinion $1,699,584 County Representative Roger Gunn Board Decision Continue appeal to a later date Evidence submitted by the appellant: • I know the value of my property has gone up over the years but it's hard to believe that the property went up in value from 2020 to 2021 and raised 11.94%from 2024 to today the valuation showed a 146.21%increase. In dollar terms 1,289,000.00. I believe the real value is a lot less. My research shows that there are not many sales in the area. Comparing the value to other properties in the business park is also high. The new sales are below. Parcel Id 9873067931 sold last year for 825,000.00(Has 2 buildings=4496 sq ft)Building value= 121.57 per Sq ft Parcel id 9873282865 Land sale last year.paid 200000.00 for 2.12 acres (94,339.62 per acre)Parcel id 9873176344 Land sale.paid 355,000.00 for 2 lots 1.64 and 1.70 =3.34 acre 106,287.42 per acre My Building(parcel Id 9873180351) is 12800 sq ft By using the same cost per sq ft 121.57= 1,556,096.00 My land is 1.35 acers @ 106.00(By using the highest sold comp)= 143488.00 The total value is= 1,699,584 There are more examples based from your own evaluations of commercial properties in Old Mill Business Park. Parcel id 9873272844 This property has a 10,020 sq ft building that is all brick exterior,fully finished office and air conditioned with land to expand for more buildings. The current 1,529,200.00 Evaluation is 641,400.00 less than my property.Parcel id 9873180593 This property is next door and has an evaluation of 1,482,400.00 that is 688,200.00 less than my property Parcel ID 9873170966 This property is also next door and has a evaluation of 1,393,400 that is 777200.00 less than my property. The square footage is wrong due to a mezzanine and office upstairs. Based off of the last three parcels the value should be some were between 1,393,400.00 and 1,529,200.00. I would like to say that my building is a flex warehouse type space which has a small office and work area and a warehouse. (3 rental units total)Unit 1. 1200 sq ft office, 1200 sq ft production,4400 sq ft warehouse with a total of 6800 sq ft Unit 2. 1200 sq ft office, 2000 sq ft warehouse and total 3000 sq ft Unit 3. 1200 sq ft office,2000 sq ft warehouse and total 3000 sq ft. Evidence submitted by the county representative: • Per the County's commercial property consultant, "The appeal contains a lot of information. The start is a discussion of a sale at parcel 9873067931. The sales price is referenced at $121.57/SF,but it is actually$183/SF, so I think that the owner has referenced a sale but then pulled only the building assessment out of that?It's worth noting that the sale is not very comparable. Then a number of land sales are referenced for a"pieces and parts" argument,but the entire value needs to be appealed. Then there is an equity argument concerning a number of nearby parcels. Let me know if you need me to do a deep dive on that argument. A very nearby similar parcel has spaces like the subject's for rent at$17/SF NNN,which means the subject is only assessed at around a 10%cap.Also,the owner does not provide any income data for their property,which is fully leased. I don't believe there is enough relevant evidence for a change at this time." • Photograph of Subject Docusign Envelope ID:55C8A716-89E4-4018-AB48-1 F92375EE447 • Location Map of Subject • Property Record Card of Subject Motion of the Board Continue the appeal to allow the County the opportunity to provide equity analysis data Made the motion Leon Meyers Seconded the motion Saru Salvi Voted For Richal Vanhook Voted Against Property Identification: Property Owner N/A Appellant(if different) N/A Property Address Neighborhood T706 Parcel ID or Abstract N/A Southern Village Townhomes-Highgrove Drive Statement of Appeal: Request to adjust the building grades of all units on Highgrove Drive from A to 13- 10 and detached garages from B-10 to C-. Current Assessed Value N/A County Opinion N/A Time of Hearing 3:13 PM Appellant Opinion N/A County Representative Kelly Wells Board Decision Adjust the building grades of all units on Highgrove Drive from A to B-10 and detached garages from B-10 to C- Evidence submitted by the appellant: N/A Evidence submitted by the county representative: • After reviewing sales for the townhomes in Southern Village, it has come to our attention that the units on Highgrove Drive sold for about 15% less than the units in the rest of the neighborhood T706 due to lesser build quality. • We would like the BOER to order the Tax Office to adjust the building grades of all units on Highgrove Drive from A to B-10 and detached garages from B-10 to C -. Other townhome owners on Highgrove Drive who did not appeal would receive value change notices with the right to appeal to the BOER within 30 days of their notice. Docusign Envelope ID:55C8A716-89E4-4018-AB48-1F92375EE447 Motion of the Board Accept the County's recommendation to adjust the building grades of all units on Highgrove Drive from A to B-10 and detached garages from B-10 to C- Made the motion Richal Vanhook Seconded the motion Saru Salvi Voted For Leon Meyers Voted Against Property Identification: Property Owner Yogiri Inc Appellant(if different) Property Address 740 Cornelius Street Parcel ID or Abstract 9865504253 Statement of Appeal: Request a reduction in value based on a recent contract sales price. Current Assessed Value $436,700 County Opinion $274,500 Time of Hearin 3:18 PM Appellant Opinion $265,000 County Representative Roger Gunn Board Decision $274,500 Evidence submitted by the appellant: • As of February 25,2025,the subject was under contract of sale for$265,000. Evidence submitted by the county representative: • An analysis of the property's listing history indicates that the subject has been listed for sale for $300,000 since February 18,2024. The previously mentioned pending sale for$265,000 did not close and the property is currently back on the market for$300,000. It is the recommendation of the County to change the market adjustment on the property from-65%to -78%,which would lead to a revised value of$274,500,which is well within 5%of the most recent contract sales price and below the January 1, 2025 listing price of$300,000. • Photograph of Subject • Location Map of Subject • Current Property Record Card of Subject • Proposed Property Record Card of Subject Motion of the Board Accept the Coun 's revised value of$274,500 Made the motion Saru Salvi Seconded the motion Richal Vanhook Voted For Leon Meyers Voted Against Property Identification: Docusign Envelope ID:55C8A716-89E4-4018-AB48-1F92375EE447 Property Owner Knowehead Group LLC Appellant(if different) Property Address 403 Smith Avenue Parcel ID or Abstract 19788215807 Statement of Appeal: Request a reduction in value based on the age of the property and the cost to maintain the property. Current Assessed Value $1,232,500 County Opinion $1,232,500 Time of Hearin 3:22 PM Appellant Opinion $1,000,000 County Representative Roger Gunn Board Decision $1,232,500 Evidence submitted by the appellant: • Properties are 100 years old and incur significant ongoing maintenance costs. Evidence submitted by the county representative: • The subject is composed of three duplexes,each having,2025 square feet and each constructed in 1952(73 years old). • Per the County's commercial appraisal consultant, " 1.)The owner purchased in late 2022 for $1,225,000 right in line with market prices for older properties that are similar in walkability to campus. 2.)The owner did not provide any income information,just states its expensive to own and manage. I note that they do not seem local, and a local owner might have a different experience. 3.)1 did not provide an income approach. They provided the County no Income& Expense data, so I didn't have anywhere to start. It's important to note that a lot of this product is purchased based on gross income because the expenses greatly vary depending on how its managed. A lot of buyers are local and actually do work and management themselves. For instance,Johnson Street sold at a 190 GRM! We can see what the owner says gross income is, but if it was $9,000 a month or$1,500 per unit per month,which is likely low,that would put it at$1,700,000 with a 190 GRM at the County Assessed Value it would be a 137 GRM. I'm not saying that's what it is,just pointing out that cap rates are less important here. 4.)Let me know if you want a GIM approach to value. It just seems like extra work when all of the comps and the recent previous sale point to the same credible number range." • Photograph of Subject • Location Map of Subject Property • Current Property Record Card of Subject • Sales Comparison Approach for Subject Motion of the Board Accept the Coun 's recommendation of no change in value Made the motion Saru Salvi Seconded the motion Richal Vanhook Voted For Leon Meyers Voted Against Property Identification: Property Owner I Knowehead Group LLC Appellant(if different) Docusign Envelope ID:55C8A716-89E4-4018-AB48-1F92375EE447 Property Address 1905 Dawes Street Parcel ID or Abstract 9788210649 Statement of Appeal: Request a reduction in value based on the 2022 purchase price. Current Assessed Value $758,200 County Opinion $758,200 Time of Hearin 3:31 PM Appellant Opinion $500,000 County Representative Roger Gunn Board Decision $758,200 Evidence submitted by the appellant: • I bought this property in 2022 for$375,000. Evidence submitted by the county representative: • The subject is composed of two duplexes,having, 1,736 square feet and 2025 square feet, respectively, and were constructed in 1925 and 1945,respectively. • The owner purchased the property in October 2022 for$375,000,which is believed to be a below market sale considering the subject sold previously in December 2018 for$460,000. • These units are close in location and are very similar to the units at 403 Smith Avenue,Using the same indicated value per bedroom of$116,348 as was utilized with 403 Smith Avenue,the indication of value for the subject would be$930,784. Therefore,no adjustment to the current valuation of$758,200 can be supported. • Photograph of Subject • Location Map of Subject Property • Current Property Record Card of Subject • Sales Comparison Approach for 403 Smith Avenue Motion of the Board Accept the Coun 's recommendation of no change in value Made the motion Saru Salvi Seconded the motion Richal Vanhook Voted For Leon Meyers Voted Against Chair of the IW4&gned by: Leon Meyers 7/30/2025 Recording Secre r�ocusigned by: Jennifer Rigsbee sssoo� 7/30/2025