County requests sale documentation after owner says he overpaid for former Macy’s at Metro North Crossing

A recent purchase of the former Macy’s at Metro North Crossing drew scrutiny at an appeals hearing after a representative for the buyer said he paid $6.7 million and that brokers believed fair market value was closer to $4 million.

Why it matters: If the purchase price is a non–arms-length transaction or reflects special circumstances, county staff said they cannot accept an unsupported owner assertion without settlement documentation; loan and deed recordings can bear on valuation determinations.

At the hearing the appellant’s representative said Dan Horn purchased the parcel in 2024 for $6.7 million and that Mr. Horn told the representative brokers believed fair market value was roughly $4 million. County staff said the claim was hearsay without a settlement statement or closing documentation and observed that the loan records show a deed of trust and a loan amount recorded June 3, 2025, for $9,700,000 that may reflect planned improvements or financing. The county asked the appellant to provide a settlement statement or similar closing documentation; staff said an appraisal likely accompanied the recent loan.

County staff also noted they had submitted maps and other Metro North Crossing data and asked for the requested evidence in advance of any local change; without documentation the county said it could not accept the asserted sale price. The transcript records county staff saying an email alone is insufficient evidence to alter assessed value and that the county requested settlement statements and appraisal materials.

Decision and next steps: The county requested the settlement statement or similar proof of closing; staff recommended no change locally until such evidence is provided. The transcript does not show a formal local change to the assessment during the hearing.