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i <br />1. <br />Three (3) sales from :CoStar, with sales summary sheet, and one;sale from the <br />public record were presented. The sales ranged from $103 SF to $155 SF. No <br />discussion or conclusion was .provided. <br />:.a <br />Rebuttal Testimony: <br />The PA testified, that of the comparable sales used by the petitioner were <br />substantially larger and not considered .comparable 'to the roP <br />subject e The <br />property, <br />petitioner had no rebuttal. <br />Special magistrate's analysis and finding of facts: <br />The presumption of correctness for the assessment was established because the: <br />property appraiser provided by the preponderance :of the evidence that the. property <br />appraiser's just value assessment was.arrived.atby.complying with section <br />193.011 of the Florida Statutes and professionally accepted appraisal practices. <br />The PA primarily relied on the income approach to value the subject: property.. The <br />income approach, provided a preliminary value' of $350,000. There was: no cost of <br />sale deduction made in the valuation, However, the just (assessed) "value of <br />$293,119 is 16.3% less than the preliminary value estimate. As a result, even if a <br />COS adjustment of :15% was applied to the preliminary: value, the PA's analysis <br />would support thejust value. <br />j <br />Although the petitioner presented evidence that the subject property may be over i <br />assessed, the petitioner did not present competent substantial evidence into the <br />record to support a lower just _value and to overturn .the. presumption of correctness. <br />The petitioner did not present actual income and expenses for the subject property <br />to justify the income approach input. The petitioner's rental comparables were not <br />considered similar to the subject and, as a result, did not provide a credible <br />valuation by the income approach. <br />Conclusions of law for petition 2023-042 <br />The property appraiser provided by a preponderance of the :evidence that -the <br />assessment was arrived at by complying with. statute 193.011 and professionally f, <br />accepted appraisal practices. The admitted ,evidence :was considered relevant and <br />credible and meets the standard of proof to legally justify the estimate of just value <br />per Rule 12D-9.027(5 & 6) FAC. Asa result, the petitioner is denied rehtof. ' <br />2023-042 _ 35 - Page 4 of 4 <br />