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The comparable sales presented by the PA were applicable for: the analysis and. valuation of the subject property. The comparable sales were based on the recorded sale price. No COS deduction_ was made to the :comparable sales. The 4 comparables sales indicated a range from $407: SF to $529 SF with an average of $488 SF. The PA did not establish a preliminary: value for the subject property based on the sales presented. The petitioner testified that they overpaid for the property at the time of purchase. The purchase price of $1,307,500 equated to $.561 SE This was above the sale price per square foot: of all of the comparables:presented by the PA. Hd ever,: it is noted that the subject has the smallest SF of living area of all the. comparables. This partially accounts for the higher purchase price per SF.. Florida Statute 194.301(1) incorporates section 19.3.011(8) which provides for the PA to deduct a cost.of sale .(COS) in arriving.at just.value assessments and requires the :PA to present evidence showing IAA's COSdeductions as reported on Form DR -493 because.such deductions were applied in:ruaking just value., assessments and are professionally accepted appraisal practices In addition, to not.make a COS deduction to the subject property, the PA would not adhere to section: 194.301(2)(a)3., F.S., which precludes -the: SPA, in :appraising the petitioned :. property, from using appraisal practices that. are arbitrarily different from the ... . appraisal practices the PA applied to the comparable properties within the county. Because a preliminary value was not established by the PA and a COS .deduction was not shown in the analysis of the comparable sales, the presumption of correctness for the assessment was not '.established. The admitted evidence: from the PA did not prove :by the preponderance of the evidence;that the property. ` appraiser's just value methodology: complied with the first and eighth criteria of section 193.011, F.S. and professionally accepted: appraisal practices. Based on the comparable sales presented by the PA, the average sale,price of 4 comparables was $488 SF. Considering that the subject property did: sell in 20225 and the living area of the subject is approximately 16% smaller thaii'theaverage of the comparables and the purchase price per SF bf the subject is -`approximately. 15%q. higher than the average :of the comparables, it is. reasonable. to include the sale of the subject in the revised analysis. The average We. price of the 4 comparables plus the subject equates to $502 SF. Applying $502 SF to the subjects liying*arta of 2,331 SF results in a preliminaryvalue of $1,170,162. Deducting a:1S% cos#of sale, based on the DR -493 submitted to the DOR by Indian River County for the 2023 Assessment, indicates a revised just value of $994,638. Page 3 2023-028_ _ Page 4 of 5