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BAAS Appraisal
The BAAS appraisal valued the decedent's 56.5 acre
parcel of land using the comparable sales method.
According to the appraisal, the following land sales were
comparable to the decedent's 56.5 acre parcel:
Environ-Comparable Date
mentally
Sale of Sale Sale Price Acres Price/Acre Protected
1 Aug. 19891 $1,446,783 101.137 $14,325 40%
arguably -- 120.3792 12,056 --
2 Jan. 19893 826,700 61.400 13,464 35
909,300 61.400 14,809 35
3 Aug. 1988 8,300,000 577.800 14,365 30
4 May 1988 11,146,000 648.820 17,179 35
5 Jan. 19881 2,975,000 162.700 18,285 25
6 Dec. 1986 1,300,000 89.500 14,525 06
A Dec. 19894 240,000 5.500 -- --
240,000 1.010 -- --
1This transaction was included as a comparable sale in both the BAAS
appraisal and the Fishback appraisal, discussed below.
2This parcel of property contained approximately 120.379 acres of which
approximately 20 acres was reserved for a school and park. The appraisal
calculated the price per acre based upon the gross acreage, 120.379 acres,
and the price per acre based upon the net acreage, 101.137 acres.
3The first purchaser of this property in January 1989 exercised an option
to purchase it for $826,700 before reselling the property for $909,300.
4This transaction involved a land swap between the developers of the
Citrus Park Mall and the Tampa Electric Co.
The BAAS appraisal concludes that as of June 18, 1990,
the value of the decedent's property was $14,000 per acre
or $791,000 (56.5 acres times $14,000) In arriving at that
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