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Board of Equalization and Review August 13, 2026 meeting agenda and minutes

Orange County · Board of Equalization & Review
Thursday, August 13, 2026

Regular meeting Tax rate and revaluationHousing and affordabilityStormwater and flooding

Agenda document Minutes Watch Meeting recap

What was decided

  1. Continued 2.aValue Appeal - CCP Chapel Hill 0806 LP, PIN 9799141643, 1602 E. Franklin Street Continued to September 24, 3-0

Read from the agenda's recorded outcomes. Where the board published minutes, those are the record — this is a pointer to them.

What's on this agenda

Orange County's Board of Equalization and Review heard four commercial property value appeals on August 13, all from companies holding Chapel Hill real estate. The largest was 501 Midtown Apartments at 232 Butler Court, assessed at $40,394,200. Also on the list were a property at 1602 E. Franklin Street, two Paliouras Enterprises holdings at 157 E. Rosemary Street and 1404 E. Franklin Street, and the appraisers assigned to each.

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 sided with the county on three of the four appeals and put the fourth over to September. It sat for 72 minutes with three of its nine members present, two more than a quorum requires, and every vote was 3-0.

The deferred case is the largest gap between the two sides: CCP Chapel Hill 0806 LP values its Franklin Street property at $5,600,000 against the county's $10,020,600, arguing from a weighted blend of equity, cost and sales comparison approaches. The board continued it to September 24 and told the county to analyze support for its land valuation while the appellant seeks income and expense data from the owner. On the other three the appellants did not appear. The board accepted a small county-recommended reduction on one Paliouras property, from $2,382,000 to $2,373,000, against an owner opinion of $966,400, and made no change on the second, holding it at $841,700. It also left 501 Midtown Apartments at $40,394,200. That owner had argued damage from Tropical Storm Chantal in July 2025 raised vacancy and cut rental income, and put the value at $35,000,000.

Across the sitting the board adopted no appellant's own figure.

How the votes went

Four appeals, four unanimous 3-0 votes. One continued to September 24, one accepting a county-recommended reduction of $9,000, two making no change.

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 (6)

Public hearing · 4Procedural · 2
  1. 1 Call to Order
    Procedural
    Chair Leon Meyers called the meeting to order at 1:00 p.m. with three of nine members present.
  2. 2.a Value Appeal - CCP Chapel Hill 0806 LP, PIN 9799141643, 1602 E. Franklin Street
    Public hearing Tax rate and revaluation
    CCP Chapel Hill 0806 LP contests the county's $10,020,600 value on its property at 1602 E. Franklin Street, arguing for $5,600,000 from a weighted blend of the equity approach at 10 percent, the cost approach at 60 percent and sales comparison at 30 percent. The owner's representative appeared by video.
    Continued to September 24, 3-0
    From the minutes: From the minutes: continued to September 24 at 1:15 p.m. on a 3-0 vote moved by Salvi and seconded by Vanhook, with the county to analyze support for its land valuation and the appellant to give the owner a chance to provide income and expense data.
    • 1602 E Franklin St · no matching parcel on file
    • Pin 9799141643 · Ccp Chapel Hill 0806 LP · assessed $10,020,600
  3. 2.b Value Appeal - Paliouras Enterprises LLC, PIN 9788379926, 157 E. Rosemary Street
    Public hearing Tax rate and revaluation
    Paliouras Enterprises LLC contests the $2,382,000 value on 157 E. Rosemary Street, arguing for $966,400 from a three-year income and expense history and a market proforma. Nobody appeared for the owner.
    Value set at $2,373,000, 3-0
    From the minutes: From the minutes: the board accepted the county's recommended reduction to $2,373,000, 3-0, moved by Vanhook and seconded by Salvi.
    • 157 E Rosemary St · no matching parcel on file
    • Pin 9788379926 · Paliouras Enterprises LLC · assessed $2,382,000
  4. 2.c Value Appeal - Paliouras Enterprises LLC, PIN 9789927679, 1404 E. Franklin Street
    Public hearing Tax rate and revaluation
    Paliouras Enterprises LLC contests the $841,700 value on 1404 E. Franklin Street, arguing for $577,951 from a three-year income and expense history with average net operating income capitalized at 12.41 percent. Nobody appeared for the owner.
    No change, value held at $841,700, 3-0
    From the minutes: From the minutes: no change, value held at $841,700, 3-0, moved by Salvi and seconded by Vanhook.
    • 1404 E Franklin St · no matching parcel on file
    • Pin 9789927679 · Paliouras Enterprises LLC · assessed $841,700
  5. 2.d Value Appeal - Elliot Chapel Hill Borrower LLC, PIN 9799278842, 232 Butler Ct - 501 Midtown Apts
    Public hearing Housing and affordabilityStormwater and floodingTax rate and revaluation
    Elliot Chapel Hill Borrower LLC contests the $40,394,200 value on the 501 Midtown apartments at 232 Butler Court, arguing for $35,000,000 on condition and maintenance grounds: Tropical Storm Chantal damaged the property in July 2025, raising vacancy and cutting rental income. Nobody appeared for the owner.
    No change, value held at $40,394,200, 3-0
    From the minutes: From the minutes: no change, value held at $40,394,200, 3-0, moved by Salvi and seconded by Vanhook.
    • 232 Butler Ct · no matching parcel on file
    • Pin 9799278842 · Elliot Chapel Hill Borrower LLC · assessed $40,394,200
  6. 3 Adjournment
    Procedural
    Adjourned at 2:17 p.m.

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