Case Study #4:

The subject property is a luxury single family residence located on a corner lot with direct access to the Intracoastal Waterway as well and a small shallow water canal that does not allow for larger vessels. Because of the shallow water at low tide, and since the surrounding Johnson grass cannot be dredged due to environmental issues, the construction of a boat dock was impossible. The property was new construction so the contractor’s costs to construct were thoroughly analyzed. Comparable sales during the subject lien year were also included in the investigation. These sales were adjusted for location, size, age, water frontage and shallow vs. deep water. Due to the issues present – shallow water, no dockage, no construction due to sea vegetation and the costs to construct– the assessment was deemed to be in excess of Fair Market Value.

The County offered a settlement that the taxpayer would not accept. MJ Stone therefore moved forward and testified before a Special Magistrate.

This helped realize a tax dollar savings of approximately $55,000 to the property owner.