07/21/2021 - Laserfiche WebLink

Home Browse Search

which is a mortality curve {table)` similar to .IVlat shall` 8s Swift, through local data.. 'f he Agent discussed Ii.The Marshall & ,Surift (Iowa" curves) tables :which 'do :not include sIl forals of ss4nn8 waa n °n sary and Agent also stated that. the background check on Mand the report.stioiild not:have been included ui the PA'S evidence he Agent sic#ed- the A is fam#Iy- owned". business.. The PA stated that: he could not find any..informaifiiaa haw, Previously .developed thea'_ own iTepiaCiation tables,:bti# now uses the data Tl?e .Agent Believes that -a. COVIN:ad1ustnaent ;should be'inclgded to the value b he did not. UP d it zri his value: request. the Agent, questz: -d the l*A data in Section relating to -reseller interviears. The Age.stated that the inforibation. lacks•the following date of contact, :correlation to PA's valtie,in the`snseiplace; how PA used, the data.`in their tables.(empirie2l tie); a_rid how: she dafass restricCecltb•groc ry 3 he Agent discussed the PA'5 descrigtioii .of how :tie l� and $ei . crYteria were applied using the sales comparison- approach. The Agent does not'.ibelieve-that tli� P fully descciibed ,hoW they arrived at thirir valves; recrievved the market data and it affected the TA's tables: 'Che PA stated tl�8t auctions are'evaltita#ed and es are reviewed_ salfor. iriclti sioris. Time Agent went to the market to create his: tables :The Agents tables. -ad not include assetablage schen in •. the deveioprent: stage; that is added after the fact:: -The, Agent believed the PA -Pias dCne ncifiliing to satisfy the: I st criterion .'Th Agent: also believed 'that, the PAs. tables are #riot ie3tty: tables :arid identical to Marshall & Sawift (Iowa Curves); vdhich do not include economic obs6 escm e: ` Tite aitieie disCtissin9 `use - and Abuse of, Iowa: Curves ::showed: concerns l l e Agent stated .that -the PA's tattles only. account: for piiysical.obsglescenee and fits appraise- Yuaihodoldgy aniy: looks- i the. ltical.irlort 3ity rates. 'The the Agent bel eved.'that the`p has not met-the'-stai►dai' set by the 1st and 6 criterion.in order for. the POA to retain. the presnn}ption of, cora ectness:. There was discussion between the:Agent:and the PA with:Tegatd to review- .. e 13R -405x, g�iost.assets, and the validify of comni pany reova s The PA stated-thatdsvvhy Site visits Were_aequesied. aiid they were riot permitted The :Agent_ sa'd .:site .t ours. permitted: The .Agent_;discussaii how -the .PA's data is skewed The:i'A clairnecl that there is not enough data out there:. The Agent.iiegan to read.aii ?rldusttY..- report from IBIS: Since this repots -was not . shared m the evidence exchange, the PA objected .fo ilie reading.. The Agerit reiterated that.there is an; active mafket. for store fi7�t11Yes: Section C in- the PA's exhibits includes the P,gent's evidence . The;Agent presented an Ex6ciltive SuMblaxY• discussing' the. following `PA's asspssmgnt not representing just value; etinsicieration° of .all -8 ,faaiors;. -. instifficient evidence to"stippori their opinion of just value complytrig Avith::professi0riaily 'accepted - g . pP Cour tie .recration appraisal .practices; iricltidiii and a 1 ' gall :forms of> obsolescence ui:;the ty - I� tables" the Agent.Useda.narket=based depreciation schedule (from >o arrrve'At.their.:vpiriions of - value; along with a 5P mapproach AsIhg the -.age/lrfe.Triethod. 3lie: Agent ;requested ori. additional economic obsolescence factor due:Yo COVID l9 wrist"evidence to sub§tantiate.the request. The:?igent's Executive 'Summary. also _ ncludett the .following . .a purpose of the .appeal company: profile; ,:property description; :.Iasi halite -defutitions froth various sources;, -Florida Statues (F� 1 ::8 , faetors; three. . approaches to'value how 10,* �xntli r', S 14.301 finditigs_iri. Darciea Case arid.otiier coiirt'decisions: . The Agent's=evidence also, stated that tiie PAA mttst:to lobi .to the inarlteit ah ;: show how:ufiti -standardd were . applied along with corisideratiori of ailJorms of,obsolescence:._.The Agent: stetted that,tiie PA;ha8.oi11y appiied.physical otisolesCetice Pages 14 22 of.the Agent's evidence drsciisseel the Mamhali &'SWift tables - and Iowa Curves: `Pa,& 23 of:fie Agent's evidence .presented the 5t rtdard:of Proof. for Administrative. Reviews. Pages 24-26 _ aie Agetit s evidence dr8ctisSed'the fblld�ng.: the .lynrderi of.2?f aof:-1�Yesi�u�pti°n of of .correctnem docUlnentatioil from l?A showing, ow the:tables were calctziatecl (market ConSideratiori or . economic 6bsolescernce data); ASA; bOT2 acid;IP.AO-uiforinaEion;relatingio the valuu►g ofas8e#s in groups: developing trend lines -anti use.:'cif _third -party riiarltet:based depreciation schednies-`'.Thi AgenC.stated . that ASA is doing' a itscfiil. life study which -`rill incluiie: the, data The: Agent discussed how'Yhe data hes-been reviewed by ASA anti covers air forms o{ depreciation : fibe-Agent stated that contacted the buyers anti.. seller's : to corihrm the: data axil verify the zticlusibn of .anp warranties. The Agent assigns the asset Class and.uses'BiS index factors to establish *� 4cement.Cost New iI2CN). The Agent also .assign the . % go(Sd . frorti the -third -poi ty cieprepti ion schedule' to.:Oshis . Req` to Value • and.:REL. The. Agent `iiicluded a portion .-f.M of theair arket Egiiipriieht: 6Y102II1C .i3eprecxation - Schedules developed bq .The -Agent alsq.developed 'An-0ge/life.value:(i I,) in support of his requested value. The.Agent stated the he always leave.a residual, ori -and never, goes to;zero. 'QUith regard to the }lgcnt'nsed the:cost,'ifoY adjusted, 1ie,ore any..retiietnents:. The PA stili believed "it vias ori allocated cbst; not histoncai; :that was provided to :them 'The Agent believed. -100-