The Board of Equalization and Review meeting held on July 9, 2025, in Union County, North Carolina, focused on property valuation discussions, particularly concerning discrepancies in property assessments and the impact of school district boundaries on property values.

The meeting began with a detailed examination of property comparisons, known as "comps," which are essential for determining fair market value. A key point of discussion was the varying land values and square footage of properties in the area. One member noted the challenges in assessing smaller homes, highlighting that fixed costs can lead to diminishing returns in value per square foot. This complexity was underscored by the fact that the land value for a specific property was set at $2.45 per square foot, while another property, larger at 2.14 acres, had a significantly higher valuation of $331,000.

A notable point of contention arose regarding the school district affiliations of the properties being discussed. The appellant initially indicated that their property was outside the Weddington School District, which led to confusion among board members. It was clarified that while the subject property was indeed in the Wellington School District, the comparable properties (comps) were also from the same district, which is crucial for accurate valuation.

The discussion emphasized the importance of using appropriate comps for valuation, as pulling data from outside the relevant school district could skew the assessment. Board members acknowledged that variations in property values could arise from personal circumstances, such as emotional attachments or specific buyer motivations, which complicate the valuation process.

As the meeting progressed, the board members expressed a commitment to establishing a fair and accurate property value, recognizing the complexities involved in the real estate market. The session concluded with a brief recess, allowing members to regroup before continuing their discussions.

Overall, the meeting highlighted the ongoing challenges in property assessment, particularly in relation to neighborhood dynamics and school district boundaries, underscoring the board's role in ensuring equitable property valuations in Union County.