Florida Administrative Code › 5 - DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES › 5I - Florida Forest Service › Chapter 5I-7 - RURAL AND FAMILY LANDS PROTECTION PROGRAM › Section 5I-7.009 - Appraisal Procedures, Report Requirements and Determining Maximum Amounts

Current through Reg. 50, No. 138; July 16, 2024
(1) The Department shall only use appraisers
				and review appraisers licensed or certified in accordance with Chapter 475,
				F.S. The Department is authorized to contract directly with qualified
				appraisers and review appraisers pursuant to Chapter 287, F.S.
(2) Specific Project Appraiser Selection.
				Appraisers to be solicited for appraisal assignments will be those with
				competency in the area of specialization required by the proposed appraisal
				assignment, with additional consideration given to production time, cost
				efficiency, and contemplation of additional appraisal services in a specific
				Project area.
(3) For increased
				time and cost efficiency, for recurring needs for additional appraisal services
				in a specific project area or for a specific parcel, use of the same appraisers
				used for these previous services is allowed.
(4) The development and reporting of all
				appraisal services by the appraiser and review appraiser shall be in accordance
				with the Uniform Standards of Professional Appraisal Practices (USPAP),
				Supplemental Standards, as adopted in subsection
				18-1.002(23),
				F.A.C., this rule (Chapter 5I-7, F.A.C.), and the Department's specific
				assignment to the appraiser.
(5)
				The Department shall make available to the appraiser all pertinent title
				information developed, a specification of the rights to be acquired, a list of
				items, if any, considered to be noncompensable, minimum appraisal requirements
				that apply, required appraisal forms or formats, and a certified survey or
				appraisal map.
(6) The appraisal
				report shall state any extraordinary assumption or hypothetical condition made
				by the appraiser in determining market value and shall document and adequately
				support the appraiser's estimate or conclusion as to value.
(7) The appraisal report shall be accompanied
				by a sales history of the parcel for the prior five years. Such sales history
				shall include all parties and considerations with the amount of consideration
				verified, if possible.
(8) When two
				appraisals are required under Section 270.715(1)(b)1., F.S., 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 120% of the lower value. However, a third appraisal shall not be
				obtained if the decision is made by the Department to attempt to negotiate an
				acquisition price of no more than 120% of the lower of the two
				appraisals.
(9) Determining the
				maximum amount:
(a) The maximum amount that
				may be paid for a Perpetual Easement shall be the value indicated in a single
				approved appraisal if only one appraisal is required. If two appraisals are
				obtained and approved when only one is required by law, the maximum value shall
				be the higher of the appraisals, regardless of their divergence.
(b) If two appraisals are required by law and
				their values do not differ significantly, the maximum amount that may be paid
				for the parcel shall be the higher value indicated in the two approved
				appraisals.
(c) If a third
				appraisal is obtained and approved, the maximum amount that may be paid for the
				parcel shall be the value contained in the higher of the two closest appraisals
				as long as the two closest appraisals do not differ significantly. If the two
				closest appraisals differ significantly, 120% of the lower of the two
				appraisals shall be the maximum value.