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The PA established the just value for the property at $2;563,067 or $775 SF. The PA presented five (5). comparable: sales of single-family resi encesui e subject's neighborhood. Four (4) of the comparables were located in the Ambersand area. The: comparables sold;in the ranged from $1,725,000 to $3,800,000 or from $742 SF to $2,778: SF. (Comparable'5 sold for $2,77:8 SF in June 2023, so it was not considered inahe valuation: The average sale:price of the 4 remaining comparable sales was $951. SF.) No adjustments were applied to the comparable sales. A preliminary value estimate for the.subject property was not established. A 15% cost of sales (COS) was not deducted from the sale_ price of each comparable sale. According to the PA, the:comparab1e sales support the subject's just value of $2,563,067 or $775 SF..The PA testified that the COS deduction was made in the CAMA system The PA also presented 4 land sales.. The land .sales range from .between. $9909000:° to $1,965,000 and sold between September 2017 and June of 2022. The :sales indicated a range from $1:0,233 FF to $29,415 FF, after the COS -adjustment; but prior to the "Depth Factor". adjustment.: After. the Depth Factor adjustment; the. range was $7,941. FF to $32,470 FF: These sales were: presented to support the subjects land assessment -at $115$,365 or:$21,062`FF. Summary of evidence presented by the petitioner: The petitioner testified that the Ambersand market has .limited sales and that the mass appraisal system for valuing the subject does not work. The petitioner testified that the only applicable sales from 2022 were the two sales: the Mused, Comparable :3 at $1,725,000 and the house nextto his (Compargble $3,800,000 and one land sale at 12920 Highway AIA for $1.65,000 -:(.1b -is was .19 he PA's vacant land sale Comparable 4 The petitioner also relied on th' . ?A's 2023 sale. The petitioner presented a graph from Zillow showing that the market peaked in mid -2022 and declined up to the date of value. The petitioner noted that the comparables had similar lot (land) values (assessments) and they shouldn't because of the improvements on the 466 if not new and maximize the building size, detract from. the value: The -petitioner also testified that the value of the improvements (the assessment) has increased over the last several years and that construction costs have increased, -but so has depreciation due to the location. (No additional�comparable sales were presented by the petitioner.) The petitioner requested a valuation similar to 12356 (PA's Comparable 5) or at $2,000,000 after a COS deduction. Page 2 2023-142 _ 78- Page 3:of6