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The PAO Consideration, by each of its 8 points, of Florida Statute 193.011 is offered (see <br /> pages 242-244). <br /> Relating to Covid-19 information is offered concerning the State of Florida's response to <br /> the pandemic, noting that Florida has created its own guidance in this regard. <br /> Overview of more important evidence presented by the Petitioner <br /> The Petitioner was represented by staff of Ryan, LLC. <br /> The evidence offered related to both the Fair Market Value -Installed, without <br /> consideration of the effect of Covid-19 (ie. economic obsolescence) as well as due to the <br /> effect of the pandemic. <br /> The more important information provided as evidence by the Petitioner is as follows: <br /> 1. Executive Summary <br /> 2. Purpose of Appeal <br /> 3. Company Profile <br /> 4. Property Description <br /> 5. Reference Sources <br /> 6. Florida Personal Property Assessment Process, noting 8 factors of F.S. 193.011 <br /> Key considerations of the evidence are as follows: <br /> 1. The assessment must be arrived at by complying with F.S. 193.011 <br /> 2. The assessment must be arrived at by complying with "professionally accepted <br /> appraisal practices, including mass appraisal standards, if appropriate". <br /> 3. F.S. 194.301 provides that "The provisions of this subsection preempt any prior case <br /> law that is inconsistent with this subsection". <br /> The Petitioner's representative then presents the following information: <br /> 1. Citations from the VAB training manual <br /> 2. Information concerning the Darden Restaurants case <br /> 3. Information about the Cost, Sales Comparison and Income Approaches to value, <br /> stating that the PAO has not considered Functional Obsolescence nor Economic <br /> Obsolescence in its value analysis. <br /> 4. Discussion of the Marshall Valuation Service depreciation tables. <br /> The Petitioner also utilized the Cost Approach, modified by its analysis to capture <br /> depreciation 1 obsolescence from all causes. Further, the Petitioner cites Willamette (a <br /> well respected national appraisal company) stating that 3 economic principles form the <br /> basis of the cost approach to valuation, ie. Substitutions, Supply and Demand, and <br /> Externalties. Further, the Petitioner cites The Appraisal Foundations USPAP Standard 5 <br /> guidance as to the elements that are required to produce a credible mass appraisal. Then <br /> the Petitioner cites 16 points of the IAAO and ASA describing appropriate methodology <br /> 2021-00208 Page 4 of <br /> - 136- <br />