Fla. Admin. Code Ann. R. 66B-3.007 - Appraisal Procedures

(1) All appraisal reports shall be prepared by or under the direct supervision of a State Certified General Appraiser, who shall sign the appraisal report.

(2) The District shall provide to the fee appraiser all pertinent title information developed, a specification of the rights to be acquired, a list of items, if any, considered to be non-compensable, minimum appraisal requirements that apply, required appraisal forms or formats, and a certified survey or appraisal map.

(3) The appraisal report shall state any assumption made by the appraiser in determining market value and shall document and adequately support the fee appraiser's estimate or conclusion as to value. The report shall include a description of the location, size, shape, topography, access, highway or water frontage, and present zoning of the property. It shall include a description of utilities, if any, and a detailed description of any appurtenances. The report shall address other factors relevant to the development potential of the property including, but not limited to, local government land use restrictions and permit moratoria, environmental sensitivity of the property, and the likelihood of obtaining any pending or required local, state or federal permits. In determining land value, the fee appraiser shall primarily consider the present market value of the property. This market value, as much as practicable, should be based on comparable arm's length sales of similar property. If the fee appraiser uses comparable sales in determining land value, he shall thoroughly describe each such sale including the date of sale, a brief legal description, the present use, the highest and best use, the official record book and page where the transaction is recorded, the grantor and grantee, the purchase price, the terms and conditions of the sale, and when and with whom verified. The fee appraiser also shall consider the present use of the subject property, taking into consideration any local or state land use regulation and any moratorium imposed by executive order, law, ordinance, regulation, resolution, or proclamation adopted by any governmental body or agency or the Governor when the moratorium prohibits or restricts the development or improvement of property as otherwise authorized by applicable law. The report also shall address the highest and best use to which the property can be expected to be put in the immediate future. The term "immediate future" as used in this section means a period of time not to exceed five (5) years. In addition, the report also shall consider the cost of the property and the present depreciated reproduction/replacement costs of any improvements thereon, the condition of the property, and any income from the property.

(4) The report shall be accompanied by a sales history of the parcel for at least the prior five years. Such sales history shall list the parties to each transaction involving the subject parcel as well as the consideration paid with the amount of consideration verified, if possible. The report also shall show the tax assessed value for the previous five (5) years. If the sales history required by this section would not be useful or the cost would be prohibitive compared to the value of the parcel, it shall be waived by the Board.

(a) The history shall be deemed not useful for projects consisting of a large number of relatively similar size properties under separate ownership for which a multiple-ownership appraisal technique can be used.

(b) The cost will be considered to be prohibitive relative to the value of the parcel if the most recent assessed value for ad valorem tax purposes is $50,000 or less, including greenbelt agricultural, aquifer recharge, or other special exemptions.

(5) When two appraisals are required pursuant to this rule, a third appraisal shall be obtained if the two appraisals differ significantly. Two appraisals shall be considered to differ significantly if the higher of the two values exceeds one hundred and twenty (120) percent of the lower value. However, a third appraisal shall not be obtained if the decision is made by the District to attempt to negotiate an acquisition price of no more than one hundred and twenty (120) percent of the lower of the two appraisals.

Notes

Fla. Admin. Code Ann. R. 66B-3.007

Rulemaking Authority 374.984(3) FS. Law Implemented 374.984(1)-(3) FS.

New 8-17-99, Amended by Florida Register Volume 47, Number 046, March 9, 2021 effective 3/25/2021.

New 8-17-99, Amended 3-25-21.