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Chief Deputy Umphrey commented on comparable #1 that sold in June 2005. It <br /> was a 20-acre sale, and less the land value was $277.00 per sq. foot. <br /> Attorney Collins reminded the Board to consider the criteria set forth in the <br /> Statutes, and remarked that the Property Appraiser has to take into consideration <br /> location, size, sales, cost, condition, and income. In order to overturn the Property <br /> Appraiser's assessment, the Board has advised they have to find that the property <br /> appraiser did not consider one of the factors, or that the appraisals were arbitrary. <br /> Board Member Debbie MacKay stated that it may be arbitrary, because the <br /> Property Appraiser said it was hard to find comparables that had the exact same amount <br /> of acreage with the same exact amount of uniqueness. <br /> Chief Deputy Umphrey disagreed with her comments stating that they just <br /> reviewed three comparable sales. He pointed out that the petitioner had not shown sale <br /> comparisons, and added that the petitioner compared various homes on various size <br /> lands, and the property appraiser was not doing that; they were using factual information. <br /> He added that the petitioner did not provide an appraisal or sales, showing their house <br /> was not worth $2 million dollars. <br /> Chairman Wheeler felt they were just repeating the same information and asked <br /> for a motion. <br /> MOTION WAS MADE by Commissioner O'Bryan, <br /> SECONDED by Karen-Disney Brombach for <br /> discussion, to accept the petitioner's value at <br /> $1,387,748.00. <br /> Chairman Wheeler asked for legal advice because he felt the Board was getting <br /> into the business of appraising the property. <br /> L <br /> Value Adjustment Board <br /> 04-02-2007 - 5 - <br />