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that this was true for the rest of the comparables. Without the effective age
<br />adjustment, 3 of 4 comparables support a reduction in value. No other new
<br />testimony or evidence was presented by either parry during rebuttal.
<br />Special magistrate's analysis and finding of facts:
<br />The comparable sales presented by the PA were considered adequate for the
<br />analysis and valuation of the subject's just value. However, the methodology
<br />utilized by the PA, of deducting the cost of sale from the purchase price and not
<br />from the indication of preliminary value (after making adjustments to the
<br />comparables) was incorrect methodology and may have resulted in a higher
<br />indication of just value. In addition, the use of a 10 year effective age for the
<br />subject and a different effective age for Sales 2 and 4, than shown on the PRC,
<br />resulted in adjustments that increased the estimate of just value. As a result, the
<br />presumption of correctness was not established. The admitted evidence from the
<br />PA did not prove by the preponderance of the evidence that the property
<br />appraiser's just value methodology complied with the 8 Criteria of Section
<br />193.011, F.S. and professionally accepted appraisal practices.
<br />Utilizing the PA's comparable sales and the adjustments applied to the comparable
<br />sales, but with the effective ages shown on the PRC -for the subject and the
<br />comparables, indicated the following:
<br />Petition 202_4-162
<br />Subject
<br />Comp 1
<br />mp Co2
<br />Comp 3
<br />Comp 4
<br />PA's SCA _
<br />1000 Sunrise
<br />975 Sunrise
<br />560 Reef Rd�
<br />121 Mariner Beach
<br />2285 Genesea Ln
<br />Sale Price
<br />$ 4,137,551
<br />$ 3,500,000
<br />$4,690,500
<br />$4,508,000
<br />$ 5,000,000
<br />SF A/C
<br />4409
<br />3,734
<br />- 3,012
<br />4,913
<br />4,143
<br />$'s SF A/C
<br />$ 938
<br />$ 937
<br />$ 1,557
<br />$ 918
<br />$ 1,207
<br />Size adj A/C $ r,300:
<br />$ 202,500
<br />$ 419,100
<br />$ (151,200)
<br />$ 79,800
<br />Land Size
<br />0.58
<br />0.73
<br />$ (290,564)
<br />0.45 $ 118,428
<br />0.53
<br />0.92 $ (287,559)
<br />FF $ 20;000.
<br />100
<br />100
<br />$
<br />103 $ -
<br />87 $ 260,000
<br />121 $ (420,000)
<br />Quality $ 100:,
<br />CBS/FRM/DG
<br />CBS/VG
<br />$ -
<br />CBS/VG $ (301,200)
<br />CBS/FRM
<br />CBS/VG $ (414,300)
<br />Eff Age 2%
<br />23
<br />28
<br />$ 350000
<br />16 $ (656,670)
<br />15 $ (721,280)
<br />30 $ 700,000
<br />Condition
<br />Renovated
<br />ORG_
<br />$ -
<br />Renovat $ -
<br />LmtUp $ -
<br />LmtUp $. -
<br />Baths $50;000:
<br />4
<br />3
<br />$ 50,000
<br />3 $ 50,000
<br />5.5 $ (75,000)
<br />3 $ . 50,000
<br />Pool/Mist -_'
<br />Yes
<br />Yes
<br />' $-
<br />Yes $-
<br />Yes/EL $ (50,000)
<br />Yes $ . -
<br />Total Adjustments
<br />$ 311,936
<br />$ (270,342)
<br />$ (737,480)
<br />$ (292,059)
<br />Preliminary Value
<br />$4,177,639
<br />$ 3,811,936
<br />$ 4,420,158
<br />$ 3,770,520
<br />$ 4,707,941
<br />Less COS 15%
<br />$ (571,790)
<br />_
<br />$ (663,024)
<br />$ (565,578)
<br />$ (706,191)
<br />Just Value
<br />$ 3,550,993
<br />$ 3,240,146
<br />$ 3,757,134
<br />$ 3,204,942
<br />$ 4,001,750
<br />Average
<br />$ 933
<br />$ 868
<br />$ 1,247
<br />$ 652
<br />$ 966
<br />2024-162
<br />Page 6
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