08/16/2017 VAB - Laserfiche WebLink

Home Browse Search

e "Note in the above chart -1, Market Value is the Just Value of the parcel, not the 100% Market Value anticipated at sale of the property. Findings of Fact: Proposed Findings of Fact: A. List of Property Appraisers ExhibitsMlitnesses: The Property Appraiser was represented at.the hearing by Billy Auton, Margo Maxwell, and Eric Barkett. Property Appraiser evidence included: Required Considerations by the Property Appraiser per SF 193.011, letter requesting information from the petitioner, PTO Bulletin 08-22, Comparable Sales Chart, neighborhood statistical analysis report, location maps subject/sales, subject property cards, comparable sales PA records cards and copy of petition. B. List of Petitioner exhibits/witnesses: The petition was filed by and represented by Stephen J. Boyle the property owner. Petitioner evidence included: hearing notice; subject PA card; comparable sales, 1 listing, sheet with wood frame 1 and 2 story sales and CBS 2 story sale (2014-15 sales), and 2013 two story frame sales; MLS sheets & PA cards for the listing / sales; A. Statute, 193.011 C. Summary of evidence presented by the Property Appraiser: The property consists of a 0.51 acre riverfront lot, with 101 river front feet. The residence includes 3,772 square feet of living area. The residence was constructed in 1987, two stories of wood frame on concrete slab. The property is located at 285 Riverway Drive, Vero Beach, Florida. The property appraiser presented a grid of comparable improved sales and the resulting $/sf living area used in analysis of the subject. The property appraiser included four sales of riverfront properties, one in the subject immediate neighborhood and three in Cache Cay Subdivision. The sales are transactions that occurred between March and November 2014. The sales support a 100% Market Value range of $279 to $355 per square foot of living area. The range of 81 Criteria $/sfla for the sales was not included on the PA chart. The Property Appraiser concluded that the Just Value (85% Criteria) rate of $286 / sfla (per square foot of living area) was appropriate based on these sales and 134 sales within the subject's neighborhood. The Neighborhood Statistical Analysis Report indicted average year built 1996, average area 4,235, mean sale value $925,903, and mean parcel value $785,210. D. Summary of evidence presented by Petitioner: The petitioners evidence consisted of: a chart of market sales and MLS/PA Information for the sales listed. On the chart the subject is analyzed -as if listed; also analyzed is one listing, 2 two story frame sales, 5 single story frame sales, and one CBS sale. All sales are located in the south Barrier Island area. The sales are analyzed based on the 100% $/sfla, the PA Assessed Value of land, and Assessed Value of the building for these sales. The sales support a $Isfla for the 100% Market Value from $200 to $403/sfla. The building contribution to the assessed value of these comparable sales ranges from $61 to $136/sfla. The assessed value of these sales ranges from $206 to $346/sfla. The petitioner concludes a value between $200 and $272 per square fool of living area for the 100% Market Value, from $754,400 to $1,025,984, reconciled at $890,000, and a 81 Criteria value, based on 12% deduction for cost of sale from $785,000. -38-