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cove view -3 car garage -Built 1995 -Fireplace, dock with lift, enclosed porch $/sf sale price $298/sfla Sale 3 -1955 Windward Way -$1,427,500, 12/20/2019 -4,074 s.f., Wood Frame -Built 1988, original finishes, with wood floors, Mexican tile floors, corrian counters -2 story, fireplace, no swimming pool, large screened porches -New dock and lift -240 x ? Lot, with expansive water frontage -this sale is not in the Anchor, and does not have HOA fees, other than minimal for patrol security and beach access at $355 annually -original but better quality than the subject. -$/sfla sale price $350/sfla The sales have similar original, dated features and are located within the subject neighborhood. The Petitioner felt that the sale price for the subject was a fair market price considering the dated condition of the property, and large living area size that will require a significant cost to improve the property to current market demand quality. PA rebuttal - The PA felt that the subject sale was not arms -length, as it is a trustee estate sale based on DOR qualifications. The PA indicated that the subject property is in good condition from the exterior. The subject view is good. E. Magistrates analysis and finding of facts presented: Magistrate comments regarding arms -length sales are based on information contained in the Department of Revenue's Real Property Transfer Qualification Code Training, Florida Department of Revenue Property Tax Oversight March 2020. "... all.sales should be considered candidates as valid sales unless sufficient information can be documented to show otherwise...." "An arm's length transaction is a sale or lease transaction for real property where the parties involved are not affected by undue stimuli from family, business, financial, or personal factors." FDOR, The Florida Real Property Appraisal Guidelines, 2002, Section 6.12.1, page 20. There is a "Real Property Transfer Code List" This list does not indicate that transfers from trusts to non -related parties qualifies them as not arms -length. DOR requires documentation (from a knowledgeable source) that explains the basis for disqualification of a sale under codes 30 through 43. Outliers (sales ratio or sale price) is not a reason to disqualify a sale. Information must be documented by an active participant with direct knowledge. The PA did not provide documentation that the subject sale was influenced because it was sold by a trust to qualify the sale as not arms -length. The buyer and seller are not related parties. The Petitioner representative indicated that the purchaser felt that they paid an appropriate price for the property considering the size of the living area and the need to totally remodel the property. The property was listed on the Market, through MLS for 4 months. No information was presented to the Magistrate to indicate that this was in unusual listing period for the subject property. Magistrate Analysis of the Evidence - 2020-019 Page 4 of 7 -8-