Owners and county dispute valuation of Hernando County senior-living campus

Hernando County special magistrate Steven Ester on Jan. 30 heard petitions 292 and 293 from Matthew Bradley, representing Grand Senior Living LLC, contesting the property appraiser's assessment of two adjacent parcels that together operate as a 162-bed senior-living campus.

The dispute centers on competing valuation methods. The property appraiser used a sales-comparison approach and reconciled to a total pre-adjustment value of $13,284,000, then applied a 15% cost-of-sale adjustment to reach a recommended final value of $11,291,400 for the combined parcels. The petitioner presented an income-based analysis that produced a higher valuation (about $15,834,832 after a 15% cost-of-sale adjustment). The magistrate admitted the rebuttal evidence and said he would issue a written determination at a later date.

Why it matters: the assessment will determine the property tax bill for the operating facility and any reassessment will affect the owner's operating economics and future…