TOWN OF BAY HARBOR ISLAND, ETC., ET AL., APPELLANTS,
v.
LANCELOT ASSOCIATES, APPELLEE
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The Florida appellate court reversed a judgment against tax authorities, holding that the assessor properly rejected the income method for valuing a high-rise apartment due to insufficient operating history and properly considered all statutory valuation criteria.
A tax assessor properly rejects the income method of valuation when there is insufficient time to establish actual income and prospective income would be required.
[1] A tax assessor may reject the income method of valuation for real property when the property has not been in operation for a sufficient period to establish actual income…
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Join FLexlaw to unlock all legal intelligence“The tax assessor is required to consider all the criteria set forth in § 193.011, Fla.Stat., F.S.A. in arriving at an assessment of real property.”
Court stating the legal standard for tax assessments
The tax assessor assessed a high-rise apartment and considered the income method but rejected it due to an insufficient period of operation to indicat…
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This appeal is from a final judgment rendered against the taxing authorities in an ad valorem tax case.
We reverse. The tax assessor is required to consider all the criteria set forth in § 193.011, Fla.Stat., F.S.A. (formerly § 193.021, Fla.Stat.) in arriving at an assessment of real property. Metropolitan Dade County v. Tropical Park, Fla.App.1970, 231 So.2d 243.
The record on appeal shows that he considered the income from this highrise apartment in arriving at its assessment. He rejected the income method as a proper basis for making this assessment because of an insufficient period of time to indicate the income derived from the high rise and it would have been necessary to use prospective income in order to utilize the income method. Such action was proper on the part of the assessor. See Bal Harbour Club, Inc. v. Dade County, Fla.App.1969, 222 So.2d 428; Williams v. Simpson, Fla. App. 1968, 209 So.2d 262; and § 193.011, Fla.Stat., F.S.A.
Having determined that this assessment of Dade County Tax Assessor was based on a consideration of all the criteria in § 193.011, Fla.Stat., F.S.A., and that it was a valid assessment, we will not consider appellant’s other point for reversal.
The final judgment is reversed and the cause is remanded with instructions to enter a final judgment for the appellant taxing authorities.
It is so ordered.
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Bystrom v. Equitable Life Assurance Soc'y OF the United States, 416 So. 2d 1133 (Fla. 3d DCA 1982)…he factors and the reliance on a particular approach is dependent upon the type of property being assessed. The Appraiser points to our decisions in Calder Race Course, Inc. v. Overstreet, supra, and Town of Bay Harbor Island v. Lancelot Associates, 243 So. 2d 437 (Fla. 3d DCA 1971) for the proposition that the trial court should have utilized the cost approach in determining the assessment of Omni. In Town of Bay Harbor Island, the assessment by the appraiser was premised upon a consideration of all of the…
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Muckenfuss v. Miller, 421 So. 2d 170 (Fla. 5th DCA 1982)…hen Lakes Estates, Inc. v. Snyder, 304 So. 2d 433 (Fla.1973); Lanier v. Walt Disney World Co., 316 So. 2d 59 (Fla. 4th DCA 1975). . Cf. Boynton v. Canal Auth., 265 So. 2d 722 (Fla. 1st DCA 1972). . Town of Bay Harbor Island v. Lancelot Associates, 243 So. 2d 437 (Fla. 3d DCA 1971). . City of Miami Beach v. Wilton, Ltd., 305 So. 2d 83 (Fla. 3d DCA 1974). . § 197.012, Fla.Stat. (1981). . Wilton, 305 So. 2d 83; Tampa Coca-Cola Bottling Co. v. Walden, 230 So. 2d 52 (Fla. 2d DCA 1969). . Pursuant to Florida…
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Blake v. Oceancoast Corp., 417 So. 2d 1002 (Fla. 3d DCA 1982)…Straughn v. Tuck, 354 So. 2d 368 (Fla.1978); Atlantic International Investment Corp. v. Turner, 383 So. 2d 919 (Fla. 5th DCA 1980); Lanier v. Walt Disney World Co., 316 So. 2d 59 (Fla. 4th DCA 1975); Town of Bay Harbor Island v. Lancelot Associates, 243 So. 2d 437 (Fla. 3d DCA 1971); Metropolitan Dade County v. Tropical Park, Inc., 231 So. 2d 243 (Fla. 3d DCA 1970). Because the evidence indisputably showed that the Property Appraiser’s assessment was made in substantial compliance with Section 193.011, Florid…
Previewing 3 of 4 citing cases — full citator treatment, depth of discussion, and citing context are member features.
Join FLexlaw to unlock all legal intelligenceAuthorities Cited
- Williams v. Simpson, 209 So. 2d 262 (Fla. 1st DCA 1968)
- Metro. Dade Cnty. v. Tropical Park, Inc., 231 So. 2d 243 (Fla. 3d DCA 1970)
- BAL Harbour Club, Inc. v. Dade Cnty., 222 So. 2d 428 (Fla. 3d DCA 1969)
- Williams v. State, 222 So. 2d 428 (Fla. 4th DCA 1969)