Isn't the velocity entering the control volume different than the jet velocity exiting the valve?
To be perfectly rigerous about it, we have to equate the enthalpy of the air inside the tire where there is no movement (ie: kinetic energy = 0) to the enthalpy of the air outside the tire where there is no movement. In that situation, and assuming adiabatic conditions, the process is isenthalpic. For velocities much less than sonic velocity, as found in most piping systems or where gas velocity is low such as it would be an inch away from the tire valve, we can neglect kinetic energy and consider the case to be isenthalpic.
Also what does the CV look like upstream of the valve? Doesn't the mass of the reservoir change? If so, how is this taken into account?
As the reservoir mass drops (air leaves the tire) the first law has to be applied to what remains inside the tire. Drawing a CV around the inside of the tire, the first law reduces to:
dU = Qin – Qout – Hout
If there is no heat flow (adiabatic) then the equation reduces to dU = Hout. In other words, the change in internal energy of the gas inside the CV changes (drops) according to the enthalpy leaving. Since enthalpy changes as pressure drops (because the gas remaining in the tire cools) one needs to account for this change in enthalpy. I’ve done that in two ways, first by applying the first law and doing the calculation iteratively, and then by noting that this is the same as an isentropic expansion. Any gas remaining inside the tire as it expands is doing work by pushing air out of the tire, so the air inside the tire also follows a line of constant entropy if the process is considered adiabatic. The result is that as the tire pressure decays, the temperature of the air inside the tire follows a line of constant entropy.
Of course, even small changes in temperature result in some heat flux, so the reality is that the air inside any tank or tire won’t expand isentropically. It is more accurate to model some heat flux into the air and not assume adiabatic conditions. At any rate, the air will cool to some degree as pressure decays which is dependant on heat flux.
To summarize, as the air pressure decays, the air inside is doing work which causes it to cool, but as it goes through the valve it expands isenthalpically which causes some very small amount of cooling due to the fact it is not an ideal gas, but nothing like the cooling the air undergoes inside the tire.