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I <br />4. Fred Countryman Parcel No. 112 -610 -150 Appraised Value $700,001• <br />This property is a condominium airlot parcel in "The Manors" with water frontage. The <br />property's improvements consist of a condominium unit with three bedrooms, two and one- <br />half baths, six rooms, and 1,874 square feet. The appellant believes that the property <br />should be valued at $594,696. <br />Mr. k larren identified three comparable sales with water frontage ranging from $685,000 <br />to $730,000. <br />History — For the January 1, 2001 lien date, this property was appraised at $750,000. This <br />value was appealed by Mr. Countryman, and the Board approved a revised value of <br />$690,000. Last year as of the January 1, 2002 lien date, this property was appraised at <br />$570,000, a lower appraisal reflecting the impact of the recession. As of the January 1, <br />2002 lien date, there was an across the board decline in all residential categories, with <br />greater decreases experienced in the higher end homes. During the period leading up to <br />the current lien date of January 1, 2003, the properties in the District almost fully recovered <br />from the post- recession decline. Given the above information, the recommendation is to <br />decrease the appraised value from $700,000 to $690,000 to recognize the appellant's <br />claim, while maintaining the integrity of the appraised values for the District. The $690,000 <br />value reflects the lower end of the comparable sales range. The appellant has not agreed <br />to this revised appraised value. <br />