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Board of Equalization and Review

Orange County · Board of Equalization & Review
Tuesday, December 2, 2025

Regular meeting Housing and affordabilityLand conversion and large developmentTax rate and revaluation

Agenda document Minutes Watch Meeting recap

What's on this agenda

Orange County's Board of Equalization and Review hears twenty-three commercial appeals on December 2, all contesting 2025 valuations on apartment complexes, hotels and offices in Chapel Hill. Assessments run as high as $41,298,300. Owners argue for lower values using income approaches built on 2022 through 2024 financial statements; the county defends its numbers with its own income and sales analyses.

Summarized from the published agenda. Read the agenda itself before acting on it.

Meeting recap

What happened, drawn from the records published after the meeting. Minutes

The board reduced fourteen of the twenty-three commercial assessments and left nine unchanged. Combined value for the properties fell from $327,667,600 to $299,042,500, a cut of $28,625,100. No appellant received the value it had asked for; every decision matched the county's recommended figure, landed between the two sides, or left the assessment alone.

The four largest cuts fell along NC 54 and Estes Drive: 100 Pinegate Circle dropped $5,498,300 to $35,800,000, a 501 NC 54 Bypass parcel fell $4,805,900 to $21,381,800, 306 Estes Drive fell $4,707,800 to $28,000,000, and 200 Barnes Street fell $4,190,700 to $17,866,500. On Pinegate Circle, Estes Drive and a smaller Service Road lot, the board cut further than the county itself had recommended.

How the votes went

Twenty-two of the twenty-three decisions were unanimous. The board accepted the county's valuation of the 100 Marriott Way hotel over Chair Leon Meyers' dissent.

From the published minutes.

Speaking at this meeting

Orange County's own rules for public comment — check them before you rely on anything here.

Agenda items (1)

Other · 1
  1. II Appeals Hearings
    Other Housing and affordabilityLand conversion and large developmentTax rate and revaluation
    Twenty-three commercial appeals covering apartment complexes, hotels and offices in Chapel Hill, contesting 2025 valuations as high as $41,298,300. The board reduced fourteen and left nine unchanged, cutting combined value from $327,667,600 to $299,042,500. Owners argued income approaches from their own financial statements; the county recommended adjustments of its own in most cases, and the board went further than the county proposed on three properties.
    Fourteen reduced, eight unchanged, one increased
    • 100 Pinegate Cir · no matching parcel on file
    • 306 Estes Dr · no matching parcel on file
    • 200 Barnes St · no matching parcel on file
    • 1521 E Franklin St · no matching parcel on file
    • 404 Jones Ferry Rd · no matching parcel on file
    • 370 E Main St · no matching parcel on file
    • 202 Cardinal Dr · no matching parcel on file
    • 7315 Oakwood St · no matching parcel on file
    • 1001 S Hamilton Rd · no matching parcel on file
    • 2 Maxwell Rd · no matching parcel on file
    • 100 Marriott Way · no matching parcel on file
    • 1 Europa Dr · no matching parcel on file
    • 1740 Fordham Blvd · no matching parcel on file
    • 625 Hampton Pointe Blvd · no matching parcel on file
    • 5008 Environ Way · no matching parcel on file
    • Pin 9778548099 · Cajf Associates LLC · assessed $23,157,500
    • Pin 9799043366 · Fwda LLC · assessed $13,322,100
    • Pin 9778996233 · North Estes LLC · assessed $28,000,000
    • Pin 9890700067 · Pnga LLC · assessed $35,800,000
    • Pin 9778558604 · Rwjf Associates LLC · assessed $16,255,700
    • Pin 9778731754 · Rp Barnes LLC · assessed $21,381,800
    • Pin 9778741062 · Rp Barnes LLC · assessed $383,000
    • Pin 9778734827 · Rp Barnes LLC · assessed $223,200
    • Pin 9778734362 · Rp Barnes LLC · assessed $23,300
    • Pin 9778644530 · Rp Barnes LLC · assessed $17,866,500
    • Pin 9824697043 · Akg North America INC · assessed $16,604,500
    • Pin 9873680800 · Hd Development of Maryland INC · assessed $10,460,000
    • Pin 9798345972
    • Pin 9798269502 · Glen Lennox Phase Two Land LLC · assessed $1,944,500
    • Pin 9798268290 · Glen Lennox Phase Two Land LLC · assessed $5,896,300
    • Pin 9798730033 · Chi 54 LLC · assessed $19,227,400
    • Pin 9799478402 · Chi Europa LLC · assessed $18,061,700
    • Pin 9799461693 · Tarheel Lodging LLC · assessed $5,443,200
    • Pin 9799462939 · Tarheel Lodging Flag Lot LLC · assessed $590,000
    • Pin 9778969391
    • Pin 9778370093 · Chateau Apartments NC LLC · assessed $17,628,500
    • Pin 9863892477 · Rainbow Hospitality LLC · assessed $4,700,100

Agenda changes

What moved between published versions of this agenda. Item numbers shift constantly as things are inserted, so only genuine additions and removals are listed.

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