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included in the budget, finishings as mentioned previously -arid the full: size of the structure: is reasonably supported at a value of $300,000 (approx:$47 per sfx 6,400 sf):-The building hassignificant value as it:has a large:area und:erA/C, .: . which can be utilized for-business/farm support purposes and the ad'ditionalaarge garage area which has many uses. The SM considered the :structure to :have substantial: value due to :its overallsize and utility (larger than typical garage area and 4;800 sf under A/C allowing fora myriad. of usage other than :living area (ag and other commercial use). Having:electric and:plumbin —.(well/septic) in place is a plus Tor further expanding on parcel improvements: Taking the land: :value: of $219,300 and an:existing structure value:of $300:000 returns:a value:of $519;300 for the::: subject: The subject was purchasedfor:$800'000'with anon -habitable structure. original: purchase:price was:$1,000,000 and: reduced to $800,000 per PET prior- agreement if the dwelling could not be habitable. -' The value of $519,300. is: more than sufficient to cover the 15%0 :cos (cost ofsale) adjustments (approx:35% from: purchase price). This value is based on the land and structure maintaining AG usage. Any changes Wthe parcel would warrant modifications to the assessment. The subjeci:Just/Market-value prior to the: hearing of $642,61$ is higher .than the data:shows indicating a revision is: warranted.: In -conclusion, it is the magistrate's: opinion that the PAO sales; PET cost analysis. and additional evidenceprovided sufficient credible data t' Aetermine a supported Just value for:the subject. Factoring:all the evidence provided, $519,300 is a supported Just -Value for the subject: The PET -request for a value revision is -approved based -on the evidence presented::: :... Conclusions of Lawlor Petition: 2024 -063 - Florida Law allows the Property Appraiser to establish a presumption of correctness. For the Property Appraiser to :.establish a:presumption of correctness for the assessment, the admitted evidence.must "prove by a preponderance of the. evidence that the Property Appraiser's just valuation methodology complies with Section 193:011, Florida Statutes;: and: professionally accepted appraisal practices. In the "instant matter, the: Property Appraiser established -a presumption of correctness for the assessment because the admitted evidence proves by a preponderance of the evidence -that the - Property:Appraiser's just valuation methodology: complies:with Section 193.011; Florida "Statutes and professionally .: . accepted appraisal practices. Since -the Property Appraiser established a presumption of correctness, the -Petitioner must overcome :,the established presumption of correctness by:proving that the admitted evidence proves by a preponderance of the evidence: that: (a) the Property Appraiser's just valuation does not represent just value; or. (b) the Property:Appraiser's just valuation is arbitrarily based on'appraisal practices:ihat are different from"the appraisal practices generally applied by the Property Appraiser :to comparable property within the same: county: In the instant matter, the Petitioner overcame the. Property Appraiser'a established presumption of 6orrectriess because" the admitted evidence proves:by a preponderance of the evidence that (a) the Property Appraiser's just valuation does not represent just value;:or (b):the.PropertyAppraiser? s just valuation is arbitrarily:based on appraisal practices:that are different :. . from the appraisal practices generally applied: by the Property Appraiser to -comparable property within the same county. Further; competent substantial evidence of just:value, which cum ulatively:meets the: criteria of:Section 193.011, Florida Statutes, and :professionally accepted appraisal practices, exists in the record for the Special Magistrate: to establish a revised just:value. 2024-063::.: Page 3 of 3