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value of the parcel designated folio 3143 was $390,500.
This is the value of that parcel as set forth in
Mr. Fishback's appraisal for Hillsborough County.
Mr. Sirmans concluded that the value of the entire property
was $509,259 based upon the fact that the parcel designated
folio 3143 was 76.68 percent of the assessed value of the
entire tract for property tax purposes (i.e., $390,500 �
76.68 percent). He concluded that the value of the parcel
designated folio 3143.5 was $118,759. This amount is the
difference between the value of the entire tract, $509,259,
and the value of the parcel designated folio 3143,
$390,500. Mr. Sirmans' calculation can be illustrated as
follows:
Folio Assessed Value Appraised Value Estate Value
3143 $362,400 (76.68%) $390,500 $390,500
3143.5 110,240 (23.32%) -- 118,759
509,259
According to Mr. Sirmans, the value at which he returned
the subject property for estate tax purposes works out to
approximately $200 per acre for the wetland acreage and
approximately $20,000 per acre for the so-called dry land.
In passing, we note that the value of the property reported
on the subject estate tax return, $509,529, differs
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