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The PAO Consideration, by each of its 8 points, of Florida Statute 193.011 is offered (see <br />pages 242-244). <br />Relating to Covid-19 information is offered concerning the State of Florida's response to <br />the pandemic, noting that Florida has created its own guidance in this regard. <br />Overview of more important evidence presented by the Petitioner <br />The Petitioner was represented by staff of Ryan, LLC. <br />The evidence offered related to both the Fair Market Value -Installed, without <br />consideration of the effect of Covid-19 (ie. economic obsolescence) as well as due to the <br />effect of the pandemic. <br />The more important information <br />1. Executive Summary <br />2. Purpose of Appeal <br />3. Company Profile <br />4. Property Description <br />5. Reference Sources <br />provided as evidence by the Petitioner is as follows: <br />6. Florida Personal Property Assessment Process, noting 8 factors of F.S. 193.011 <br />Key considerations of the evidence are as follows: <br />1. The assessment must be arrived at by complying with F.S. 193.011 <br />2. The assessment must be arrived at by complying with "professionally accepted <br />appraisal practices, including mass appraisal standards, if appropriate". <br />3. F.S. 194.301 provides that "The provisions of this subsection preempt any prior case <br />law that is inconsistent with this subsection". <br />The Petitioner's representative then presents the following information: <br />1. Citations from the VAB training manual <br />2. Information concerning the Darden Restaurants case <br />3. Information about the Cost, Sales Comparison and Income Approaches to value, <br />stating that the PAO has not considered Functional Obsolescence nor Economic <br />Obsolescence in its value analysis. <br />4. Discussion of the Marshall Valuation Service depreciation tables. <br />The Petitioner also utilized the Cost Approach, modified by its analysis to capture <br />depreciation / obsolescence from all causes. Further, the Petitioner cites Willamette (a <br />well respected national appraisal company) stating that 3 economic principles form the <br />basis of the cost approach to valuation, ie. Substitutions, Supply and Demand, and <br />Externalties. Further, the Petitioner cites The Appraisal Foundations USPAP Standard 5 <br />guidance as to the elements that are required to produce a credible mass appraisal. Then <br />the Petitioner cites 16 points of the IAAO and ASA describing appropriate methodology <br />2021-00208 Pag 4 of 7 <br />