08/16/2023 VAB - Laserfiche WebLink

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The Appraiser Special Magistrate (SM) conducted a hearing that occurred on Jan 12, 2017 fort he correctness of the 2016 assessed value of 851 NE Town Ter in Jensen Beach. At the hearing were two representatives from Martin County Property Appraisers Office (PAO) and Asmaa Metwally & Mohammad Sallarn the petitioners (PET). Both parties presented evidence in support of their opinions for the subject value. The PAO evidence consisted of a comparable grid of sales from the subject market area. The subject data consisted of the property tax card, sketch plan and aerial/ground level photos. A sales comparison grid with 4 sales. Map showing the subject and comparables location. Exterior photos of the comparables properties and their MLS listing/photos. Rebuttal data was presented at the hearing. The PET evidence consisted interior/exterior photos of the subject, expense report list and one line list of Martin County sales. Upon examination of the evidence submitted, the PET provided 17 photos of the subject interior & exterior. The date of the photos were not supplied. The photos show repairs required with some repairs in progress to the subject and clutter/personal items from previous occupier of the dwelling left behind. The PAO addressed the subject condition being poor and that they applied a $60,000 adjustment. The PAO provided support for their adjustment as the assessment for the structure was $70,620. They applied a condition reduction to the assessment down to $10,620 for the improvements/structure. The PET provided an expense report of one -line transactions to various home improvement stores and payments to vendors/contractor. No details of what was purchased or services rendered were provided. The one line sales grid presented were for properties in different market areas of Martin County. The PAO provided the lot sizes and lot values for these properties in rebuttal as that was not included in the grid. The PAO sales grid had 4 sales from the subject market area. The PAO applied adjustments for the differences in features. Sales 1, 2 & 3 are the best indicators of the subject value. These sales adjusted to $234,600, $238,800 & $222,300 without the condition adjustment applied. The PAO applied the $60,000 adjustment for the subjects inferior condition to the comparables based on the subject not being habitable as of the effective date. The PAO applied the condition adjustment as a temporary reduction as the subject was not habitable as of the effective date. The subject market value at $195,620 is supported by the sales prior to the condition adjustment applied. After applying the temporary reduction for condition the three sales return an average value of $171,900. Then applying the 15% cos (cost of sale) adjustment per the -91-