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. <br /> Findings of Fact for Petition 2021-00208: <br /> Hearing Scheduled for November 5, 2021 at 10:30 AM <br /> Property Appraiser's Office and VAB Representatives Tina Greene, CFE, Karen Price, <br /> and Todd Mudge <br /> Petitioner's Representative Eric Marrera and Katherine Ortiz for Scott'Tyler of Ryan <br /> LLC, Houston,Texas <br /> Special Magistrate, Tangible Personal Property,Alex Ruden,ASA (MTS,ARM), CG/ <br /> Georgia <br /> Evidence Packages, 259 pages by PAO exclusive of notices, 154 pages by Petitioner <br /> excluding petition and power of attorney <br /> The subject business enterprise is referred to as Buckhead Beef Company,located at 355 <br /> Progress Road in Auburndale, Florida 33823. The firm operates out of a 110,000 square <br /> foot facility. The firm is a beef meat packer providing beef cuts of meat to food markets <br /> and restaurants. The firm is a subsidiary of Sysco, per information on the internet Sysco <br /> is a global leader in selling, marketing and distributing food and non-food products to <br /> restaurants, healthcare and educational, facilities, lodging establishments and other <br /> customers around the world. <br /> Overview of more important evidence presented by the Property Appraiser's Office <br /> The Original Cost Value reported by Buckhead Beef is $10,784,272, with an assessed <br /> value of$4,788,006, less the Exemption Value of$25,000 netting to the Base Taxable <br /> Value of$4,763,006. <br /> The valuation considers the Cost Approach, Sales Comparison Approach and Income <br /> Approach, with the value estimated being based upon Fair Market Value - Installed. As <br /> such, Fair Market Value - Installed must meet the following requirements: <br /> I. Equipment is installed <br /> 2. The highest and best use is as installed for the purpose of producing income <br /> 3. The equipment is employed or part of a business enterprise used to produce income <br /> 4. The equipment is economically feasible <br /> The Cost Approach was developed for the purpose of the PAO's analysis, considering <br /> Replacement Cost New - Installed, physical depreciation,but not functional nor <br /> economic obsolescence. It is noted that the PAO indicates that the depreciation schedule <br /> developed by Polk County indicates shorter normal useful lives than those provided by <br /> Marshall Valuation Service or the American Society of Appraisers. Further, due to the <br /> nature of mass appraisal, the PAO relies on the historic or actual age of the TPP to <br /> 2021-00208 Page 2 of 7 <br /> _.. __.._._..._....._.._..._...........__._. ._ _ 134- <br />