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the subject property was not established. A 15% cost: of sales (COS) was: not <br />deducted from the sale price of each comparable. sale. According to the PA, the <br />comparable sales support the subject's just value of $465,2 50_ or $789 SF The _PA <br />testified that the initial just value was :$476;985 but was lower :for not having.a. <br />balcony. <br />Summary of evidence presented by the petitioners <br />The petitioner testified that he owns 1 of only 4 units in the complex that do not <br />have a balcony. The petitioner testified that unit 201; that has. no balcony, sold. on <br />2/28/2020 for $184,000 and unit: 211, that has no balcony, sold on 12/8/2020 for <br />$197,500 and unit 111, that has a patio, sold. in::7/2023 for $400,000:.No additional <br />comparables sales :were presented by the petitioner. <br />Rebuttal Testimony: <br />The PA testified: that the sales comparables in 2020 are too old and that their <br />valuation was based on the. 2022 sales. The. petitioner testif ed ahatthe 2023 for . <br />$400,000 should be considered and due to the lack of units with: balconies, the <br />older sales should be considered. No othernew evidence:was presented by either <br />party that wasn't discussed during .the. presentation of evidence. <br />Special magistrate's analysis and finding of facts: <br />Two of the comparable sales presented by the PA were applicable for. the analysis <br />and valuation of the subject property. The.comparable sales were based on the <br />recorded sale price. No COS deduction was mare to the comparable sales. The 2: <br />comparables sales indicated a range from $924 SF to $975 SF with an average. of <br />$950 SF. The PA did' establish a preliminary value for the subject property <br />based on. the sales presented. <br />Florida Statute 194.301(1) incorporates_ sect ion 193.011(8) which provides for the . <br />PA to deduct a cost of sale (COS) in arriving at just value assessments and requires <br />the PA to present evidence showing PA's COS deductions as reported on Form <br />DR -493 because such deductions were applied in:making just value assessments <br />and :are professionally accepted appraisal practices. In addition to not make a COS <br />deduction to the subject property, the PA would not adhere to section <br />194.301(2)(a)3:,:F.S., which precludes thePA, in appraising the petitioned <br />property, from using appraisal practices that. are arbitrarily different from the <br />appraisal practices the PA applied.:to the comparable properties within tate county. <br />Page 2 <br />2023-068 51 - Page 3:of 4 <br />