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BOER approves consistent appraisal method for Designed Rental Single Family Residences
Summary
Orange County tax staff presented and the BOER approved a consistent valuation approach for Designed Rental Single Family Residence (DRSFR) properties, adopting a $180 per sq. ft. base price and applying quality grade multipliers for the specific property type.
Tax Administrator John Burgiss presented a study on Designed Rental Single Family Residence (DRSFR) properties and requested BOER approval to apply a consistent valuation methodology across this property type. Staff noted that qualified sales indicate DRSFR properties command a premium: seven sales between 2021 and 2024 showed a median sale price per square foot about 30% higher than comparable four‑bedroom homes.
The proposed appraisal format reduces emphasis on certain land valuation components and applies a Base Price of $180 per square foot (compared with the standard single‑family base price of $126 per square foot) using the schedule of values' quality grade multipliers. The board approved the approach; county staff will present proposed results to BOER prior to any public presentation. "John Burgiss presented a study of DRSFR properties and their valuation process with an emphasis on consistent valuation methodology application," the minutes state.
Staff cited NCGS 105‑287(a)(2) as authorizing correction of misapplication of the schedule of values when appropriate.
