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Deducting a 15% COS would result in a just value indication for the lot of $337,223 or $29.77 SF. Sale 3 sold October 2021, was a pool home and contained 3,120 SF. A residual analysis was also used on this comparable. Due to the age of the sale, the land residual of $18 SF was given less weight. Sale 4 was the only other vacant lot sale presented and was the only lot sale with under 45 FF. After a cost of sale adjustment, this comparable indicated a just value of $182,750 for the subject lot or $21 SF, excluding any time adjustment. The PA's analysis failed to recognize the development limitations of the subject property. In addition, the estimate of just value of $320,138 was based primarily on Sale 1 which has 66 FF and 10,019 SF of usable area, both superior to the subject. 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 8 Criteria of Section 193.011, F.S. and professionally accepted appraisal practices. The petitioner's evidence was not sufficient enough to establish a just value. The admitted evidence was determined to be sufficiently relevant and credible to meet the standard of proof (Rule 12D-9.027(6), F.A.C.). Based on the evidence presented by both the PA and the petitioner, the record contains competent substantial evidence that cumulatively meets the criteria of section 193.011 F.S. as necessary to determine just value. Therefore, the special magistrate has established a revised value for the subject property as follows. Because three of the sales presented by the PA had 66 front feet or greater, a front foot analysis was not considered as applicable as an analysis based on usable square footage. Based on the PA's analysis, the: just value ranged from $18 SF to $45 SF and indicated an average of $30.75 SF. Applying the average of $30.75 SF to the usable area of the subject, 6,644 SF, would result in a just value indication of $204,303. Recognizing that Sales 3 and 4 would require a time adjustment, which was not applied in the PA's analysis, the adjusted land residuals from Sale 2 of $29.77 SF was considered along with Sale 1 at $45 SF. The average of the two indicated approximately $37.50 SF. Considering that both parcels are approximately 66 front feet and are rectangular in shape, and have at least 50% more usable land than the 2024-140 Page 5 -59- Page 6 of 7